620 - 650 West Georgia Street                                                                  Vancouver, British Columbia...
average grades over one gram gold per tonne (Table 2). There is a correlation between resistivity andchargeability modelle...
which includes       203.90       226.00       22.10      2.86                                        And containing      ...
manufacturer, and strategic partner and investor in ILC. TNR remains a large shareholder in ILC at 25.5% ofoutstanding sha...
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TNR Gold (TSX.V: TNR) Confirms Down-Dip Mineralization At Shotgun Gold Property In Alaska


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TNR Gold Corp. (TSX-V: TNR) is a mineral exploration company actively pursuing a portfolio of gold, copper, and Rare Earth Element (REE) containing properties worldwide.

The company's primary focus is in exploration and development of our key ventures which are the Shotgun gold project in Alaska, TNR iron ore and REE projects in Soules Bay, Canada and our ongoing project generator in Argentina.

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TNR Gold (TSX.V: TNR) Confirms Down-Dip Mineralization At Shotgun Gold Property In Alaska

  1. 1. 620 - 650 West Georgia Street Vancouver, British Columbia V6B 4N9, CanadaSymbol: TNR: TSXV Voice: (604) 687-7551 Fax: (604) 687-4670CUSIP: #87260X 109 1-800-667-4470SEC 12g3-2(b): Exemption #82-4434 E-mail: info@tnrgoldcorp.com Website: http://www.tnrgoldcorp.comOctober 10, 2012TNR Gold Confirms Down-Dip Mineralization At Shotgun Gold Property In Alaska Concluding Drill Hole Returns 83 Metres of 0.82 Grams per Tonne Gold in Southwest ZoneVancouver B.C.: TNR Gold Corp. (the “Company”) is pleased to announce assay results from the third andfinal hole of the 2012 drilling program on the Shotgun gold project in Alaska. Drill hole SR12-58 returned 83metres averaging 0.82 grams per tonne gold across the full length of the southwest zone within the ShotgunRidge porphyry system. These results include a higher-grade intercept of 2.03 grams per tonne gold over 18.35metres at the top intrusive contact and an average grade of 1.14 grams per tonne gold over 46.55 metreswithin the southwest mineralized zone. Of particular significance is the consistent thickness and grade of thesouthwest zone encountered in all three of the 2012 drill holes. The northeast zone was not tested as the holeended in disseminated gold mineralization at 221 metres. Elevated gold grades at the end of hole indicateproximity to the northeast zone, which is also open at depth.  Drill hole SR12-58 returns mineralized interval of 83 metres averaging 0.82 grams per tonne gold.  Included within this interval is 18.35m averaging 2.03 grams per tonne gold (“g/t Au”).  Drill hole SR12-58 ended in mineralization at a down hole depth of 221 metres  The gold mineralization at Shotgun Ridge remains open at depth  Interpretation of new geophysical results opens up prospectivity of additional targets2012 Drilling ResultsDiamond drill hole SR12-58 was drilled from the same location as SR12-57 with a steeper dip angle. (Table 1shows the collar locations and orientations of the 2012 drill holes). DDH SR12-58 was designed to test thedown dip extent of mineralized zones intersected in previous drill holes. SR12-58 confirmed the mineralizationencountered in the southwest zone in all three previous drill holes but did not reach the target depth of theanticipated northwest mineralized zone. The hole ended in mineralization at a depth of 220.98 metres.Table 1: Location and orientation of the 2012 diamond drill holes and SR06-43 at Shotgun Ridge. DDH Easting (NAD27) Northing (NAD27) Azimuth Dip (degrees) Total Depth (m) SR06-43 548322 6697139 025 -46 294.13 SR12-56 548288 6697177 025 -45 293.22 SR12-57 548303 6697112 025 -45 300.00 SR12-58 548303 6697112 025 -67 220.98The mineralization intersected in SR12-58 is similar to the southwest zone encountered in drill holes 06-43,12-56 and 12-57. Each of these holes has a core-mineralized interval between 46 m and 57 m in length with
  2. 2. average grades over one gram gold per tonne (Table 2). There is a correlation between resistivity andchargeability modelled data that suggests these mineralized zones in addition to continuing to greater depthand along strike, are also repeated in a faulting controlled pattern to the northwest and southeast of themineralization currently defined at Shotgun Ridge.The Company believes the style of mineralization and thicknesses encountered are significant and the depositremains open to expansion at depth. Based on a clearly defined mineralization model, interpretation of 3Dgeophysics and the existence of elevated gold grades at the bottom of SR12-58, the depth extension of thenortheast zone is now a high-priority drill target for future exploration programs.A Model for Exploration and DiscoveryGeophysical interpretation supports the idea that mineralization at Shotgun Ridge continues down dip andfuture exploration will focus on testing these targets. Ground based, 3D resistivity and IP surveys havedemonstrated they are able to identify target areas, several of which have not yet been drill tested. Coupledwith airborne magnetic surveys, the Company has identified a series of targets that repeat through structuraldisplacement in much the same way as at Donlin Gold project (previously named Donlin Creek).”The mineralization style observed at Shotgun Ridge bears a strong resemblance to the 40 million ouncedeposit at the Donlin Gold project operated by Barrick and NovaGold,” stated recently appointed directorGreg Johnson, “The similar age and host intrusive rocks suggest that, with continued exploration, there issignificant potential to locate larger volumes of mineralization in and around Shotgun Ridge.”“We are continuing to analyse data acquired in 2012, which in conjunction with historic data is contributing torefining an exploration strategy designed to maximize the chances for success in defining bulk-mineable golddeposits within the Shotgun project area.” comments John Harrop, VP Exploration.Continued exploration at the Shotgun project will include regional reconnaissance efforts such as airbornemagnetic and electromagnetic surveys that may help to identify other prospective areas and to provide abetter understanding of targets in the Shot, King and Winchester areas where gold mineralization is alreadyknown to occur. Geochemical and geophysical surveys were highly effective during exploration phases atDonlin Gold and will be expanded at Shotgun in conjunction with additional structural mapping.“Our first priority is to expand on the mineralization encountered at Shotgun Ridge targeting a multi-millionounce bulk mineable gold deposit. Newly defined geophysical and geochemical targets suggest the potentialof identifying additional Donlin Gold style targets,” Gary Schellenberg, President and CEO.Table 2: Significant assay results from the 2012 drilling campaign. Drill Hole From To Width Au g/t SR12-56 (previously reported) Entire intrusive 51.00 293.20 242.20 1.25 Including (SW-zone) 55.50 104.35 48.85 1.02 Including (Mid-zone) 135.00 159.20 24.20 0.85 Including (NE-zone) 179.00 293.22 114.22 1.84 Containing 186.00 242.00 68.00 2.05
  3. 3. which includes 203.90 226.00 22.10 2.86 And containing 264.30 277.45 13.15 3.12 SR12-57 (previously reported) Entire intrusive 91.00 300.00 209.00 1.02 including (SW-zone) 91.00 148.00 57.00 1.24 including (NE-zone) 170.45 300.00 128.60 1.04 Containing 220.00 281.40 61.40 1.53 And containing 244.00 276.00 32.00 1.72 SR12-58 SW-Zone 106.00 189.00 83.00 0.82 Containing 106.00 152.55 46.55 1.14 which includes 106.00 124.35 18.35 2.03Cross section and plan map images for the 2012 drilling are available on the Company’s website,http://www.tnrgoldcorp.comAbout the Shotgun Gold ProjectTNR holds a 100% interest in the Shotgun property located 175 kilometres south of The Donlin Gold depositwithin the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class, multimillionounce gold district. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearbyWinchester. Donlin Gold is an intrusion-associated system and represents one of the largest undeveloped golddeposits in the world. The Company believes that there are several key similarities between prospects on theShotgun property and that of the Donlin Gold project deposit as well as other important intrusion-associateddeposits.Analytical work was conducted by Inspectorate (A Bureau Veritas Group Company) with prep work performedin their Fairbanks Alaska facility. Fire assay with ICP-ES finishing was conducted by Acme Analyticallaboratories (A Bureau Veritas Group Company) in Vancouver, Canada. Samples with greater than 10 g/t Auwere automatically reanalysed using fire assay with a gravimetric finish. Both of these laboratories are ISO9000 certified and in addition Acme has ISO 17025 certification. TNR Gold inserts certified reference materialsand blanks in a quality control procedure that follow industry current best practices.John Harrop, PGeo, FGS, a Qualified Person for TNR Gold Corp. as defined by NI 43-101 has reviewed thetechnical information contained in this report.About TNR Gold Corp.Over the past twenty-one years TNR, through its lead generator business model, has been successful ingenerating high quality exploration projects around the globe. With the Companys expertise, resources andindustry network, it is well positioned to aggressively identify, source, explore, partner and continue to expandits project portfolio.TNRs subsidiary, International Lithium Corp. (TSX:ILC.V), demonstrated the successful application of TNRsbusiness model in which TNR shareholders benefited from a unit distribution upon spin-out of TNRs lithiumand rare metals projects. Gangeng Lithium Co. Ltd. Is a leading China based, multi-product lithium
  4. 4. manufacturer, and strategic partner and investor in ILC. TNR remains a large shareholder in ILC at 25.5% ofoutstanding shares.At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina;and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNRscommitment to continued generation of in-demand projects, while diversifying its markets and buildingshareholder value.On behalf of the board,Gary SchellenbergPresidentNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements inthis press release other than purely historical information, historical estimates should not be relied upon,including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning ofSection 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements arebased on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’sbusiness, including risks inherent in resource exploration and development. As a result, actual results may varymaterially from those described in the forward-looking statements.