ErnieBilco
11 years ago
EUROPEAN URANIUM CLOSES GRIT FINANCING
Vancouver, March 7, 2014 – European Uranium Resources, Ltd. (EUU: TSX-V; EUUNF:
OTCQX; TGPN: Frankfurt) (the “Corporation”) reports that further to the Corporation’s
previous news releases it has closed its securities exchange with Global Resources
Investment Trust Plc (“GRIT”).
The Corporation issued 12,500,000 common shares at $0.10 per share to GRIT, in
exchange for 751,744 ordinary shares of GRIT (the “GRIT Shares”), at the deemed price of
£1.00 per GRIT Share. The securities issued to GRIT are subject to resale restrictions
expiring July 8, 2014.
The Corporation will now seek to sell the GRIT Shares through the facilities of the London
Stock Exchange. During the first six months, all sales of GRIT Shares will be arranged by
GRIT. While the Corporation will seek to maximize the proceeds it receives from the sale of
its GRIT Shares, there is no assurance as to the timing of disposition or the amount that will
be realized. Funds realized from the sale of the GRIT Shares will be used by the
Corporation for to advance the Corporation’s Kuriskova uranium project in Slovakia and for
working capital and general corporate purposes.
The GRIT Shares were distributed pursuant to a prospectus published by GRIT in the UK on
February 28, 2014. GRIT’s application to list its ordinary shares on the premium listing
segment of the Official List and to trade on the London Stock Exchange’s main market
became effective today. GRIT’s distribution of the GRIT Shares to the Corporation and
other Canadian based issuers was also made pursuant to a discretionary exemption order
granted by the Ontario and British Columbia Securities Commissions by order dated
November 13, 2013.
GRIT has been established to exploit investment opportunities in the junior mining and
natural resources sectors worldwide, with an investment objective to generate medium and
long-term capital growth. GRIT has conducted share exchange transactions with 41 junior
resource companies (32 headquartered in Canada), acquiring an initial portfolio of their
securities in exchange for 39,520,012 ordinary shares having a deemed value of
£39,520,012 (approximately C$73,250,000).
A commission of 6% will be payable in respect to the GRIT financing.
ErnieBilco
11 years ago
European Uranium Resources Ltd. and Portex Minerals Inc. Announce Definitive Agreement
Today : Monday 23 December 2013
European Uranium Resources Ltd. ("EUU") (TSXV: EUU) and Portex Minerals Inc. ("PAX") (CNSX: PAX) are pleased to announce that, as contemplated by the binding letter of intent announced on December 9, 2013, they have executed an arrangement agreement dated December 20, 2013 (the "Arrangement Agreement") in respect of the proposed merger (the "Merger") of EUU and PAX through a plan of arrangement under which EUU will acquire all of the outstanding common shares of PAX. Under the plan of arrangement, PAX shareholders will receive 0.6 of an EUU common share in exchange for each PAX common share. The Arrangement Agreement supersedes the previously announced binding letter of intent.
As previously announced, the merged company will be named European Minerals Inc. (the "merged company") and will be a Europe-focused company with a diverse, multi-commodity portfolio of exciting exploration and development projects.
The Merger will be classified as a reverse takeover under the rules of the TSX Venture Exchange (the "TSXV" or the "Exchange"). In accordance with the policies of the Exchange, trading in EUU's shares on the TSXV has been halted since December 6, 2013 in connection with the announcement of the Merger and will continue to be halted until TSXV requirements regarding the transaction are met. Trading in PAX's shares on the Canadian National Stock Exchange (the "CNSX") was also halted on December 6, 2013 and may remain halted for a similar period.
Upon completion of the Merger, PAX shareholders would hold approximately 65% of the merged company, with the remaining 35% being held by EUU Shareholders.
Completion of the Merger is subject to a number of conditions, including obtaining all necessary approvals from the PAX and EUU securityholders, the Superior Court of Justice of Ontario and the TSXV, including the TSXV's approval for the listing of the merged company's shares on completion of the Merger, completion of the Merger by April 30, 2014 (or such other date as EUU and PAX may agree) and such other closing conditions customary for transactions of this nature.
The Arrangement Agreement also contains customary non-solicitation provisions in respect of each party (subject to "fiduciary out" provisions that entitle either party to consider and accept a superior proposal and a 5-business day "right to match" period) and provisions that each of the parties will pay a termination fee of $400,000 upon the occurrence of customary termination fee events.
Copies of the Arrangement Agreement will be filed with Canadian regulators and will be available at the SEDAR website at www.sedar.com under EUU's and PAX's profiles. The terms and condition of the Definitive Agreement will also be disclosed in more details in the management information circulars of EUU and PAX which will be mailed to their respective shareholders in due course.
Additional Information
Dorian (Dusty) Nicol, a director and the President and CEO of EUU, holds approximately 5.4% of the issued and outstanding shares of PAX (pre-GRIT Financing). Peter Bojtos, a director of EUU, holds approximately 0.076% of the issued and outstanding shares of PAX (pre-GRIT Financing), respectively. Due to their respective interest in EUU, Messrs. Nicol and Bojtos abstained from voting on the EUU Board resolution to approve the Arrangement Agreement.
The Merger may require a sponsoring broker member of the TSVX. EUU is looking into whether an exemption from this requirement may be available.
Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Penny Roger$
13 years ago
Tournigan Updates Progress on Prefeasibility Study for Kuriskova
| 7:30 AM |
VANCOUVER, British Columbia--(BUSINESS WIRE)--Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Pink Sheets: TVCFF) continues to advance an NI 43-101 compliant prefeasibility study for its Kuriskova uranium project in Slovakia. Tetra Tech, Inc. of Golden, Colorado is preparing the study, expected to be completed in December 2011. Tetra Tech’s proposed mine production plan for Kuriskova will be based on the Indicated portion of the most recent resource estimate. The April 2011 resource estimate
Related News: Similar Content http://feeds.businesswire.com/click.phdo?i=93b3436179ffa6e8310d5585f5c15781#rssowlmlink
TVCFF Security Details
Share StructureMarket Value1 $18,792,023 a/o Aug 08, 2011
Shares Outstanding 193,732,200 a/o Jun 30, 2011
Float Not Available
Authorized Shares Unlimited a/o
Par Value Not Available
http://www.tournigan.com/
[img][/img]
TraderRich
14 years ago
Tournigan Drilling Adds High-Grade Uranium Mineralization at Kuriskova
VANCOUVER, British Columbia, Oct 14, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (tvc:TSX-V)(tgp:Frankfurt) provides this update to its ongoing drilling program at the Kuriskova uranium deposit in Slovakia. This drill program began in July and to date 12 holes comprising approximately 2,500 metres have been completed. Drilling has focused on extending high-grade uranium mineralization in Zone 45, with the objective of increasing the size of the uranium resource. The program has been successful in showing a significant increase in the extent of Zone 45 uranium mineralization.
Highlights from drilling include the results from these four holes:
Drill FROM TO (m) LENGTH e U3O8%
Hole (m) (m)
------- ----- ------ ------ -------
LE-K-50 165.3 168.7 3.4 0.693
----- ------ ------ -------
including 165.6 168.3 2.7 0.900
------- ---------- ----- ------ ------ -------
including* 167.7 168.3 0.6 2.252
---------- ----- ------ ------ -------
LE-K-51 176.6 178.8 2.2 0.378
----- ------ ------ -------
including 178.4 178.8 0.4 1.121
------- ---------- ----- ------ ------ -------
LE-K-52 185.3 187.3 2.0 0.343
------- ----- ------ ------ -------
including 185.4 185.8 0.4 0.945
--------- ----- ----- --- -----
LE-K-57 149.6 153.1 3.5 0.844
----- ------ ------ -------
including 150.8 152.9 2.1 1.343
------- ---------- ----- ------ ------ -------
*included within the above interval
The conclusions drawn from these results to date are:
The strike length of Zone 45 mineralization has increased by 100 metres to now total approximately 165 metres; The results to date are expected to add to the uranium resource at Zone 45; Preliminary structural analysis of drill results has identified a possible downward plunge orientation to the high-grade uranium mineralization in Zone 45, which remains open to depth. Downward extensions along this orientation may be tested by future drilling.
The drill rig will now be moved to test possible eastern extensions of Kuriskova Main Zone high-grade uranium mineralization in Zone 1226.
As reported in an independent resource estimate prepared by Tetra Tech, Inc. and announced March 24, 2010, the total NI 43-101 compliant resource at Kuriskova (before including results from this drill program) is 20.5 million pounds U308 Indicated contained in 1.6 million tonnes at 0.571% U308 and 17.5 million pounds U308 Inferred contained in 3.5 million tonnes at 0.228% U308 (cut-off of 0.05%U). The resource estimate includes an Indicated Resource of a half-million pounds of U308 at an average grade of 0.677% U308 in Zone 45.
A complete tabulation of significant results from the 12 drill holes announced today is presented in Appendix A, which can be viewed from this link: http://www.tournigan.com/i/pdf/Kuriskova-Zone45-Drill-AppA-Oct2010.pdf. A plan and section showing these holes can be viewed from this link: http://www.tournigan.com/i/pdf/Kuriskova-Zone45-PlanView-Oct2010.pdf.
The uranium grades presented above are reported as equivalent uranium oxide (e U3O8%) as determined by downhole radiometric logging. The logging was performed by Koral, s.r.o. of Slovakia. Drill core samples are being submitted to the Laboratory of the Geological Survey in Slovakia (SGUDS) and ALS Chemex in Seville, Spain for chemical assay. Drill intercepts are reported as drilled; true thicknesses have not yet been calculated. Quality Control and Quality Assurance is provided by Ravi Sharma, Tournigan's Manager, Resources and Reserves, who is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical disclosure contained in this news release.
About Tournigan
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
Notice to US investors: This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Ltd.
Knox Henderson, Investor Relations
604-683-8320
www.tournigan.com
Copyright Business Wire 2010
TraderRich
15 years ago
Tournigan Files Voluntary U.S. Deregistration
VANCOUVER, British Columbia, Apr 30, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Tournigan or the "Company") has voluntarily filed a Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of its Common Shares under the Securities Exchange Act of 1934, as amended. Tournigan expects that this termination of registration will become effective 90 days after its filing with the SEC. As a result of this filing, Tournigan's obligation to file certain reports with the SEC, including an annual report on Form 20-F, will immediately be suspended.
The Company believes that the costs associated with the SEC requirements (including those required by Sarbanes-Oxley) outweigh benefits received from maintaining its SEC reporting obligations. The common shares of the Company have never been listed on a United States stock exchange.
The Company will continue to be a reporting issuer in Canada and maintain a listing for its common shares on the TSX Venture Exchange and the Frankfurt Stock Exchange, which constitute the primary markets for its securities.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"
Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com
http://www.marketwatch.com/story/tournigan-files-voluntary-us-deregistration-2010-04-30?siteid=nbsh
TraderRich
15 years ago
Tournigan Completes Sale of Kremnica to Ortac
VANCOUVER, British Columbia, Apr 15, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Tournigan or the "Company") has completed the sale of all of the participation interests of Kremnica Gold s.r.o and Kremnica Gold Mining s.r.o. (the "Kremnica Shares"), the holder of the Kremnica gold deposit located in Slovakia to Ortac Resources plc ("Ortac").
Ortac has paid the Company US$100,000 and delivered a US$1,900,000 non-interest bearing promissory note (the "Promissory Note"), secured by all the assets of Ortac, that will be due for settlement upon Ortac completing a Public Listing ("IPO") during 2010. The Promissory Note will be paid as US$550,000 in cash and US$1,350,000 in Ortac shares to the equivalent cash value. The cash component will be paid from IPO proceeds and the shares will be issued at the IPO price. If Ortac cannot pay the Promissory Note in 2010 it will have an extension of time to 2011 providing it pays the Company 50% of the net proceeds of all equity issues in 2011 until the Promissory Note is paid.
In addition, within 60 days of all required permits having been obtained to permit commercial production at the Kremnica property, Ortac will pay the Company US$3,750,000 cash or in Ortac shares to the equivalent cash value being $15.00 per ounce of the first 250,000 ounces of gold equivalent (gold plus silver) resource defined as proven and probable reserve in the bankable feasibility study. Ortac will grant the Company a 2% net smelter return ("NSR") royalty on gold and silver production from the Kremnica property as currently comprised which includes three exploration licenses to a limit of the first 1 million ounces produced after which it will reduce to a 1% NSR royalty on the next million ounces, after which it will extinguish. Ortac may buy 1% of the 2% NSR royalty granted to the Company at any time by paying the Company US$1 million cash. Mr. Nicol was not involved in the negotiations with Ortac and as a director of each company, he did not vote on approving the renegotiated terms.
The division between cash and Ortac shares issued to the equivalent cash value is in both cases conditional upon the Company not owning more than 19.9% of the issued and outstanding shares of Ortac after the issuance of the shares to the Company.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol" Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made herein, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
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.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com
Copyright Business Wire 2010
http://www.marketwatch.com/story/tournigan-completes-sale-of-kremnica-to-ortac-2010-04-15?siteid=nbsh
TraderRich
15 years ago
Tournigan Amends Stock Option Plan
VANCOUVER, Mar 26, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. ("Tournigan") (CA:TVC 0.24, -0.01, -4.08%) (Frankfurt: TGP) The directors of Tournigan today granted a total of 3,000,000 incentive stock options of the capital stock of the company to directors, officers, employees and consultants exercisable for up to a five year period at an exercise price of $0.30. Furthermore the directors have listened to the concern of its shareholders regarding the proportion of stock options as a form of compensation and have today modified the Company's stock option plan from a 10% rolling plan to a 5% rolling plan. Accordingly the directors, with the agreement of the holders of the stock options, have immediately cancelled 3,698,333 incentive stock options so that there are now a total of 5,725,000 stock options outstanding or 4.7% of the issued and outstanding share capital of Tournigan.
Tournigan's annual and special meeting is to be held on Tuesday March 30, 2010 and at this meeting shareholders will be asked to renew this amended stock option plan.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
SOURCE: Tournigan Energy Ltd.
http://www.marketwatch.com/story/tournigan-amends-stock-option-plan-2010-03-26?siteid=nbsh
TraderRich
15 years ago
Tournigan Increases Indicated Resource, Adds High Grade, at Kuriskova Uranium Deposit, Slovakia
VANCOUVER, Mar 24, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has completed an updated resource estimate for the company's Kuriskova uranium deposit in Slovakia which significantly increases the amount of uranium contained in the Indicated resource and increases the overall size and grade of the deposit. Tetra Tech, Inc., the firm that is conducting the ongoing prefeasibility study on Kuriskova, has reviewed and audited the updated resource estimate.
Highlights of the updated estimate include:
-- About 5.9 million pounds of U3O8 have been added to the Indicated resource category, bringing the Indicated resource to over 20.5 million pounds of U3O8;
-- The average grade of the Indicated resource has increased from 0.558% to 0.571% U3O8;
-- Overall the uranium oxide contained in the Kuriskova deposit has increased by 5.5 million pounds of U3O8 and now comprises 20.5 million pounds in Indicated resource and an additional 17.5 million pounds in Inferred resource;
-- A new zone of high grade uranium mineralization, currently showing an average grade of 0.677% U3O8 and known as Zone 45, has been discovered. This zone remains open along strike and has the potential to add significant amounts of high grade uranium mineralization with further drilling.
"This interim resource update shows that we are succeeding in our objective of adding high grade mineralization to the Indicated resource category while increasing the size and overall grade of the Kuriskova deposit," said Dorian L. (Dusty) Nicol, Tournigan's president and CEO. "We are confident that this Indicated resource will be the basis of a reserve as we continue with the ongoing prefeasibility study at Kuriskova. We are modifying our future drilling plans to focus on expansion of the Indicated resource in the newly discovered Zone 45. Other aspects of the prefeasibility study continue to progress well and we expect the increase in high-grade resource to have a positive effect on overall project economics.
"We emphasize that we believe that there remains significant exploration potential to increase the size of the Kuriskova resource both immediately adjacent to the current resource and in the surrounding exploration license. Our current estimated average grade of 0.571% U3O8 compares favorably with most other uranium deposits currently under development which typically have grades in the range of 0.1% to 0.2% U3O8. This new resource estimate also demonstrates the presence of a significant amount of molybdenum within the uranium resource which could represent a by-product credit."
The following tables summarize the current and previous resource estimates:
Current Resource:
Kuriskova Resource Estimate March 2010 - Cut-off 0.05%U *
U% Tonnes %U3O8 U3O8 lbs Mo% Tonnes Mo lbs
(000) (000) (000) (000)
Total Indicated (Main Zone
and new Zone 45 ) 0.484 1,631 0.571 20,539 0.08 1,564 2,760
Total Inferred
(Main Zone, new Zone 45
and HW Zones) 0.194 3,481 0.228 17,528 0.032 3,417 2,442
* Mo resource numbers represent Mo associated with Uranium resource blocks above a 0.05%U cutoff
Previous Resource:
Kuriskova Resource Estimate February 2009 - Cut-off 0.05%U *
U% Tonnes %U3O8 U3O8 lbs Mo% Tonnes Mo lbs
(000) (000) (000) (000)
Total Indicated (Main Zone) 0.473 1,191 0.558 14,654
Total Inferred
(Main and HW zones) 0.182 3,780 0.215 17,901 0.030 4,897 3,261
A complete table of the new resource estimate prepared by Tournigan and reviewed, audited and approved by Tetra Tech, Inc., can be found in Appendix A or by visiting Tournigan's web site from this link: http://www.tournigan.com/i/pdf/March24-Appendix-A.pdf.
A graphic showing the changes in outlines of the resource zones can be found in Appendix B or can be viewed from this link: http://www.tournigan.com/i/jpg/March24-Appendix-B.jpg.
The updated estimate incorporates the results of 28 diamond drill holes totaling 7,548 metres that were drilled since the last resource estimate previously disclosed in a news release dated February 24, 2009. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, and reviewed, audited and approved by Tetra Tech, Inc., who is preparing an NI 43-101 compliant Technical Report which will be filed on SEDAR within 45 days of the date of this news release. Mr. John W. Rozelle, P.G., is Tetra Tech, Inc.'s Qualified Person (QP) for this updated report and is an independent Qualified Person as defined by NI 43-101.
Drill core samples are analyzed by ALS Chemex in Seville, Spain for chemical assay, under Tournigan's strict Quality Assurance/Quality Control protocols. Interpretation and outlining of mineralization was conducted section-by-section by incorporating geological, structural and assay information for each geological domain and by snapping points for both upper and lower contacts while performing section interpretation. Triangulations of outlines between sections were done to create 3D wireframe solids for each geological domain using Datamine Studio 3 software. Interpolation of grade to populate the block model within domain wireframes was carried out using inverse distance squared methods and a dynamic anisotropy search option for Main Zone North and inverse distance cubed methods for the other zones. The 3D wireframe solids of the previous resource estimate dated February 24, 2009 were updated with infill holes for the Main Zone and Hanging Wall Zones and were reviewed by Tetratech. New wireframe solids were created for Zone 45 based on step-out drill holes; these were also reviewed by Tetra Tech. Interpolation and NI 43-101 compliant resource classification parameters were reviewed by Tetratech.
Ravi Sharma, MAusIMM, Tournigan's manager of resources and reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. Tetra Tech, Inc. has reviewed and approved the technical content of this news release.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol" Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made herein, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Notice to US investors: This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
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.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com
http://www.marketwatch.com/story/tournigan-increases-indicated-resource-adds-high-grade-at-kuriskova-uranium-deposit-slovakia-2010-03-24?siteid=nbsh
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1 year ago
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