100% Ownership of Iliamna Transferred

100% Ownership of Iliamna Transferred

VANCOUVER, BC – TNR Gold Corp. and Geocom Resources Inc. reported that the companies and BHP Billiton have concluded the transfer of ownership of Iliamna from BHPB to TNR. Under the Assignment Agreement, BHPB has agreed to transfer their ownership of Iliamna, a 30% undivided interest under the Property Agreement, such that TNR and GOCM shall hold 100% legal title to the Property.
TNR granted an option and GOCM earned a 51% interest in the Company’s now 100% interest in the Lake Iliamna project’s D Claims block and a 75% interest in the H claim block that together comprise the Iliamna project. TNR and GOCM have agreed to combine each Company’s respective interest with BHPB’s interest in order to consolidate ownership and facilitate future exploration and development activities.
To enhance the successful drill results achieved in 2003, 2004, and 2006 drill campaigns and to identify new drill targets in conjunction with available magnetic, resistivity, and chargeability data, a district-level geochemical sampling program has commenced. The Companies are utilizing sophisticated geochemical survey techniques that have proven successful at delineation of copper-gold anomalies elsewhere in Alaska and at the Pebble deposit. With the recent success at the Pebble deposit and attention paid to exploration potential of the area, TNR and GOCM are optimistic that value-added exploration efforts will aid delineation of drill targets to supplement the previously successful drilling, which encountered copper-gold mineralization in disseminated and veinlet form in intrusive rocks.
The Iliamna property is a claim in Alaska covering 412 sq km of land approximately 100km from the highly-visible Pebble deposit held by Northern Dynasty Minerals Ltd.
The company’s address is P.O. Box 11604, 620 – 650 West Georgia Street, Vancouver, BC V6B 4N9, (604) 687-7551, fax: (604) 687-4670, email: info@tnrgoldcorp.com, www.tnrgoldcorp.com.