TNR Gold Corp (TNR.V) Los Azules Copper Property Lawsuit Against McEwen Mining Settle

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Los Azules Copper Property Lawsuit Against McEwen Mining Settled


TNR's 25% Right to Back-In at Feasibility Restored


VANCOUVER, British Columbia, Nov. 12, 2012 /PRNewswire/ -- TNR Gold Corp. ("the Company") (TSXV: TNR) is very pleased to announce that TNR Gold Corp. and its wholly owned subsidiary, Solitario Argentina S.A. (together, "TNR") have reached a settlement with McEwen Mining Inc. which resolves the outstanding litigation with respect to the Los Azules Copper Project located in San Juan Province, Argentina ("Los Azules").

The settlement restores a 25% back-in right to TNR which is exercisable following the completion of a feasibility study. The back-in right allows TNR to back-in for 25% of the northern part of the Los Azules property, which McEwen Mining has said contains the largest share of the known resource at Los Azules.

In addition, TNR receives an industry standard Net Smelter Royalty of 0.6% and 1 million shares in McEwen Mining (information about McEwen Mining can be found at and on Sedar at ). The Net Smelter Royalty is over the northern portion of the property and is triggered if TNR chooses to back-in for 5% or less or is diluted below 5%. In return, TNR will discontinue its claims and transfer to McEwen Mining the mineral rights to a property called Escorpio IV.

Kirill Klip, Non-Executive Chairman of TNR Gold, stated, "I welcome the positive resolution of the Los Azules litigation in the out of court settlement between TNR Gold and McEwen Mining. I would like personally to thank Rob McEwen as this resolution is a highly beneficial outcome for both our companies. Removing the uncertainty over the rights to Los Azules will allow the project to now achieve its full potential for the benefit of the shareholders of both TNR Gold and McEwen Mining, and I consider our stake in McEwen Mining as a strategic holding for TNR Gold."

ABOUT TNR GOLD CORP.

Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR's recently listed subsidiary, International Lithium Corp. (TSX:ILC.V), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. TNR remains a large shareholder in ILC at 25.5% of outstanding 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 TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the board,
Gary Schellenberg President