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Gold/Mining/Energy : TNR Resources Ltd (TRR.V was Toscana) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Basil who wrote (625)	4/30/1999 3:05:00 AM
From: Bruce Lock	Read Replies (1) \| Respond to of 659

News Release 04/29/99... Web Site - tnrvse.com April 29, 1999 INITIAL DRILL PROGRAM COMPLETED ON LA ORTIGA PROPERTY TNR Resources Ltd. ("the Company") is pleased to announce that a 1366 metre reverse-circulation drill program has been completed on the La Ortiga project in San Juan Province, Argentina. All six holes were located in the 4 sq. km Breccia Zone in the southwest corner of the 54 sq. km property. Each of the six holes intersected favourably altered and mineralized volcanics, with drill hole six also intersecting an altered porphyritic intrusion. These holes targeted features defined by extensive geological and geophysical study and surface sampling. A review is underway that will correlate these drill results with earlier findings, further developing the Company's geological model of this large, prospective area, with the aim of selecting a second wave of drill locations. Drill holes one, four, and six have yielded low but highly anomalous gold values within a one-square-km area, with individual intercepts in these holes averaging greater than 100ppb over 32 metres, 20 metres, and 18 metres respectively. Each hole was sampled in two-metre intervals, the entire hole being shipped to I.T.S. Bondar Clegg, in Mendoza, Argentina, for preparation and analysis. A second sample was split from each interval and will be retained for future reference. The Company is encouraged by these results, which confirm the presence of a large epithermal gold system with geological similarities to Argentina Gold Corp.'s Veladero project twelve kilometres to the west of La Ortiga. (The current resource estimate by Argentina Gold indicates that Veladero's three mineralized zones contain at least 5.8 million ounces of gold and 72 million ounces of silver.) Subject to the aforementioned data review, TNR management expects that drilling will resume in September, when the Andean Spring season begins. This upcoming program is expected to include renewed drilling of the Breccia Zone as well as initial drilling of the Silicified Zone, where the company has obtained its highest surface values to date (11g/tAu). With the onset of winter in the Andes, the company is shifting its exploration focus to its lower-elevation projects in Argentina, with particular emphasis on the Canada Honda gold project located in the province of San Luis. As announced earlier, Orko Gold Corp. has been granted, by way of an option agreement the Company, the right to earn a 60% interest in La Ortiga and two other concessions in the immediate vicinity (a total area of 148 square kilometers) by making staged cash payments and share issuances totaling US$340,000 and 600,000 shares, respectively, prior to November 25, 2001, and incurring exploration expenditures of US$3 million prior to May 25, 2004. ON BEHALF OF THE BOARD Gary Schellenberg, President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.