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TNR GOLD FILES FULL RESPONSE TO MINERA ANDES STATEMENT OF CLAIM
TNR GOLD FILES FULL RESPONSE TO MINERA ANDES STATEMENT OF CLAIM
About this update from Tnr Gold Corp.
[{"type":"text","content":"\nTNR GOLD FILES FULL RESPONSE TO MINERA ANDES STATEMENT OF CLAIM\n\n\n May 17, 2010 (TheNewswire.ca) -- Vancouver, B.C.: TNR Gold (TSXV:TNR) Corp. and its wholly-owned subsidiary, Solitario Argentina S.A. (collectively, \"TNR\"), have filed an Amended Statement of Defence and Counterclaim in the Supreme Court of British Columbia responding in detail to the Statement of Claim filed by Minera Andes (TSX:MAI') (TSX:MAI) (OTCBB:MNEAF) Inc. and certain related entities (together, \"Minera Andes\").As disclosed in our April 23, 2010 press release, TNR notified Minera Andes that it was exercising its back-in right for 25% of certain of the properties constituting the Los Azules project in Argentina (the \"Los Azules Project\"). Minera Andes is contesting TNR's ability to exercise its back-in right.The Amended Statement of Defence sets out, among other things, TNR's position as to why the back in clause in the May 2004 Exploration and Option Agreement should be rectified to remove reference to a feasibility study being completed within 36 months, and why the condition linking the timing of the back-in right to the production of a feasibility study was for the sole benefit of TNR and, therefore, could be waived by TNR. TNR has brought a Counterclaim which seeks a positive declaration from the court that TNR's April 23, 2010 back-in notice is valid and enforceable.We encourage interested parties to review the Amended Statement of Defence and Counterclaim in their entirety on our website for a better understating of our position. The link for this information is as follows:http://www.tnrgoldcorp.com/i/pdf/TNR%20FiledAmendedStatementofDefenceCounterclaim.pdfABOUT TNR GOLDTNR and International Lithium Corp (\"ILC\") are diversified metals exploration companies focused on exploring existing properties and identifying new prospective projects globally. TNR has a portfolio of 18 active projects, of which 9 will be included in the proposed spin-off of International Lithium Corp. For further details of the spin-off please refer to TNR's April 12, 2010 press release or visit http://www.internationallithium.com.The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the companies' commitments to generating projects, diversifying its markets, and building shareholder value...