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TNR GOLD ADVISES OF MINERA ANDES DRILL RESULTS AND DEVELOPMENT UPDATES FOR THE LOS AZULES COPPER PROJECT
Jun. 28, 2011 (TheNewswire.ca) -- Vancouver B.C.: TNR Gold (OOTC:TRRXF) (TSXV:TNR) Corp. (th...
About this update from Tnr Gold Corp.
[{"type":"text","content":"\nTNR GOLD ADVISES OF MINERA ANDES DRILL RESULTS AND DEVELOPMENT UPDATES FOR THE LOS AZULES COPPER PROJECT\n\n Jun. 28, 2011 (TheNewswire.ca) -- Vancouver B.C.: TNR Gold (OOTC:TRRXF) (TSXV:TNR) Corp. (the \"Company\") announces that it has become aware of a news release issued by Minera Andes (TSX:MAI) (OTCBB:MNEAF) Inc. (\"MAI\") on June 27, 2011 disclosing drill results from the January to May 2011 exploration program at the Los Azules project (\"Project\"). As most recently disclosed by the Company in its press release of May 16, 2011, the Company is involved in a legal dispute with MAI regarding TNR's interest in the Project. As a result, a qualified person of TNR (within the meaning of National Instrument 43-101) has not been able to verify the information disclosed by MAI, and, thus, such information should not be relied upon by TNR shareholders. The news release also describes results of condemnation holes for surface facilities which have been drilled on properties including Escorpio IV. (referred to as \"contested concession\"), Escorpio IV is currently held in TNR's wholly owned subsidiary, Solitario Argentina S.A.. \n\nThe Los Azules project is an advanced-stage exploration project that is the subject of a National Instrument 43-101 compliant report prepared for MAI that discloses certain Measured, Indicated and Inferred Resources. TNR's wholly owned subsidiary, Solitario Argentina S.A., originally served notice of its intention to exercise its 25 per-cent back-in right to certain of the properties comprising the Los Azules project. Solitario's back-in right is the subject of a lawsuit filed by MAI's, and the terms of the back in right are the subject of litigation between Solitario and Xstrata (\"MIM\"). On May 16, 2011, the British Columbia Supreme Court granted TNR the right to add a new claim to the litigation, alleging that MIM and MAI did not complete the required exploration expenditures to earn its option on April 23, 2007. A court date, originally set for June 20, 2011 in Vancouver, has been adjourned and a new date will be set in due course. \n\nIn the legal dispute with MIM, TNR is also seeking confirmation of its ownership of the Escorpio IV property, which is located adjacent to the Project and a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement.Additional inf...