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TNR GOLD ENGAGES FINANCIAL ADVISOR FOR ITS LOS AZULES COPPER PROJECT
TNR GOLD ENGAGES FINANCIAL ADVISOR FOR ITS LOS AZULES COPPER PROJECT
About this update from Tnr Gold Corp.
[{"type":"text","content":"\nTNR GOLD ENGAGES FINANCIAL ADVISOR FOR ITS LOS AZULES COPPER PROJECT\n\n\n Mar. 1, 2010 (TheNewswire.ca) -- Vancouver B.C.: TNR Gold (TSXV:TNR) Corp. (\"TNR\" or the \"Company\") is pleased to announce that it has engaged British Swiss Investment Corp. (\"BSIC\") to undertake a strategic review of TNR's alternatives for its Los Azules project (the \"Project\") located in the San Juan Province of western central Argentina. The possible alternatives to be reviewed may include a sale of all or a portion of the Project, a joint venture or similar arrangement with respect to the Project, or an equity, debt or convertible financing, or any combination of these, to fund the development of the Project. At this point there are no assurances that any transaction will result from this strategic review.The Los Azules project is an advanced exploration project currently reporting a National Instrument 43-101 compliant Inferred Resource. TNR has previously announced that Minera Andes Inc. (TSX:MAI') (TSX:MAI) (OTCBB:MNEAF) (\"MAI\") has commenced a diamond drill program of approximately 8,800 metres at the Los Azules project. Please refer to MAI's news release dated January 12, 2010 for further details on the exploration program.TNR retains a 25 per-cent back-in right to certain of the properties, the terms of which are currently the subject of a legal dispute with Xstrata, which assigned its interest to MAI. A court date is set for the fall of 2010. The Company fully intends on exercising its back-in right to the properties at the appropriate time. In the legal dispute with Xstrata, 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.BSIC is an investment firm that provides late stage venture capital, strategic consulting and transaction advisory services to companies in the resource business. BSIC has been a lead investor in and an advisor to a number of successful junior resource companies, including Aurex Resources Ltd. (AXR-TSX), Battle Mountain Gold Exploration Inc. (BMGX-OTC), Invader Exploration Inc. (INV-TSX), and Princeton Mining Inc. (PMC-TSX). BSIC was incorporated in British Columbia in 1990. The principals of BSIC are Mark Kucher(604-696-9720) and Steven Neva...