Innovative changes for profitable future

Tournigan Gold Corporation will undergo major restructuring in line with its objective to become a profitable mining and exploration company.

With projects in North America and Europe, this Canadian company has announced its intention to split its gold and uranium assets into two separate companies: one for gold and the other for uranium, with each company having its own focused management team.

"Our shareholders felt that we were not receiving fair value for our gold assets when compared to our outstanding uranium projects. So, it was decided to split the company by commodity and thereby try to enhance shareholder value. When the split is completed, our shareholders will own shares of a new pure uranium and pure gold company," explained President and CEO James Walchuck.

The move will satisfy the many investors who prefer to invest in pure gold or energy companies as opposed to companies that have multiple commodity assets.

Tournigan owns gold properties in Northern Ireland and Slovakia and has a gold exploration joint venture in the state of Nevada in the United States. It also has three uranium properties in Wyoming, Arizona, and South Dakota, as well as deposits in Slovakia, where it holds four uranium licenses covering four uranium deposits - including the exceptionally high grade Kuriskova deposit and the once productive Novoveska Huta deposit.

"Kuriskova is blossoming into a world-class deposit. Initial exploration work conducted in 2005 confirmed an inferred resource of 18 million pounds of uranium. The deposit almost tripled in size to 51 million pounds of U3O8 after the results of the 2006 drill program were used in calculating the resource. It is one of the premier deposits in the world right now because of its high grade," said Walchuck.

With 80 to 85 percent of Tournigan's share price attributed to the company's uranium projects, the upcoming change in company structure will undoubtedly raise the company's value and increase shareholder value as well.

"We expect to move the company forward with a stronger vision for the future in terms of our focus on uranium mining. We believe our work will continue keep our shareholders happy while attracting new potential investors. We hope that our diamond drill programs this year will yield results that position the company as a strong player in the uranium and gold mining sectors," said Walchuck.

Always on the lookout for new opportunities and benefiting from Europe's growing energy requirements, Tournigan's focus on uranium production is expected to yield strong growth for the company while its newly created gold company will be able to focus on the gold sector through operations in Europe and the United States.

www.tournigan.com

(China Daily 11/13/2007 page26)