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TNR Gold Corp (TNR.V) Los Azules Copper Property Lawsuit Against McEwen Mining Settle

Discussion in 'Stock Market News & Analysis' started by mickymoose99, Nov 13, 2012.

  1. mickymoose99

    mickymoose99 Member

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    Los Azules Copper Property Lawsuit Against McEwen Mining Settled


    TNR's 25% Right to Back-In at Feasibility Restored


    VANCOUVER, British Columbia, Nov. 12, 2012 /PRNewswire/ -- TNR Gold Corp. ("the Company") (TSXV: TNR) is very pleased to announce that TNR Gold Corp. and its wholly owned subsidiary, Solitario Argentina S.A. (together, "TNR") have reached a settlement with McEwen Mining Inc. which resolves the outstanding litigation with respect to the Los Azules Copper Project located in San Juan Province, Argentina ("Los Azules").

    The settlement restores a 25% back-in right to TNR which is exercisable following the completion of a feasibility study. The back-in right allows TNR to back-in for 25% of the northern part of the Los Azules property, which McEwen Mining has said contains the largest share of the known resource at Los Azules.

    In addition, TNR receives an industry standard Net Smelter Royalty of 0.6% and 1 million shares in McEwen Mining (information about McEwen Mining can be found at http://www.mcewenmining.com and on Sedar at http://www.sedar.com). The Net Smelter Royalty is over the northern portion of the property and is triggered if TNR chooses to back-in for 5% or less or is diluted below 5%. In return, TNR will discontinue its claims and transfer to McEwen Mining the mineral rights to a property called Escorpio IV.

    Kirill Klip, Non-Executive Chairman of TNR Gold, stated, "I welcome the positive resolution of the Los Azules litigation in the out of court settlement between TNR Gold and McEwen Mining. I would like personally to thank Rob McEwen as this resolution is a highly beneficial outcome for both our companies. Removing the uncertainty over the rights to Los Azules will allow the project to now achieve its full potential for the benefit of the shareholders of both TNR Gold and McEwen Mining, and I consider our stake in McEwen Mining as a strategic holding for TNR Gold."

    ABOUT TNR GOLD CORP.

    Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

    TNR's recently listed subsidiary, International Lithium Corp. (TSX:ILC.V), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. TNR remains a large shareholder in ILC at 25.5% of outstanding shares.

    At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

    On behalf of the board,
    Gary Schellenberg President – TNR Gold Corp.

    Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. In particular, there are no assurances that the Company will receive other unsolicited proposals or decide to commence a formal sale process or that, if commenced, such sale process would result in an attractive offer and sale of the Company. There are no assurances that the Company will achieve a favourable outcome in the Los Azules litigation.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
     
  2. mickymoose99

    mickymoose99 Member

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    TNR Gold Corp (TNR.V) Finalizes Los Azules Settlement with McEwen Mining

    TNR Gold Corp (TNR.V) Finalizes Los Azules Settlement with McEwen Mining


    Vancouver B.C., February 05, 2013: TNR Gold Corp. (the "Company" or "TNR") Is pleased to announce that in follow-up to its press release of November 12, 2012, whereby TNR Gold Corp. announced that it and its wholly owned subsidiary, Solitario Argentina S.A. had reached a settlement with McEwen Mining Inc. with respect to the Los Azules Copper Project located in San Juan Province, Argentina, formal documentation and the details pertaining thereto have now been signed and will be filed on SEDAR under TNR's profile at http://sedar.com.

    The Company is also pleased to announce that the 1 million shares of McEwen Mining Inc. that form part of the settlement have now been issued (information about McEwen Mining can be found at http://www.mcewenmining.com and on Sedar at http://www.sedar.com). The Company expects that the delivery of the certificates representing such shares will occur upon the transfer of the mineral rights to the Escorpio IV mining tenure to McEwen Mining Inc, which it anticipates will take place later this month. The shares will be subject to the minimum statutory hold period.

    About Los Azules

    The Company has a 25% back-in right in the northern part of the Los Azules property which is exercisable following the completion of a feasibility study. If the Company elects to back-in for 5% or less or has its interest diluted to 5% or less, TNR will receive a net smelter royalty of 0.6%.

    The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen Mining Inc. is the current operator on the Los Azules copper deposit and the Company advises that on January 17, 2013, McEwen Mining Inc. issued a press-release in relation to the deposit. The press release is accessible on Sedar at http://www.sedar.com and on McEwen Mining Inc's website at http://mcewenmining.com.

    The press release issued by McEwen Mining Inc. dated January 17, 2013 includes preliminary results from drilling operations on the Los Azules copper deposit for the current exploration season. McEwen Mining Inc.'s press release appears to have been prepared by qualified persons, but no independent qualified person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining Inc.'s information to determine the accuracy of the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the subject results and estimates.

    John Harrop, PGeo, FGS, is a "Qualified Person" as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

    About TNR Gold Corp.

    Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

    TNR's subsidiary, International Lithium Corp. (TSX:ILC.V), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. Gangeng Lithium Co. Ltd. is a leading China based, multi-product lithium manufacturer, and strategic partner and investor in ILC. TNR remains a large shareholder in ILC at 25.5% of outstanding shares.

    At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

    For further details about the Los Azules settlement, please see our 'Question & Answer' release which can be found in the news section of our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp

    On behalf of the board,

    Gary Schellenberg
     
  3. SmartStocks

    SmartStocks New Member

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    Re: TNR Gold Corp (TNR.V) Los Azules Copper Property Lawsuit Against McEwen Mining Se

    Video of yesterdays Q&A With Gary Schellenberg

    TNR Gold Corp. (TSX.V - TNR) CEO Gary Schellenberg sits down for a Q&A interview on the Settlement of the Los Azules Copper Project Lawsuit


    Link: http://www.youtube.com/watch?v=iRatrzWmZ9k
     
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