TNR Gold Corp.: 100% Ownership of Iliamna Transferred/Commences Geochemical Sampling Program

VANCOUVER, BRITISH COLUMBIA, Sep 2, 2008 (Marketwire via COMTEX News Network) --

TNR Gold Corp. ("TNR") (TSX VENTURE:TNR)(PINK SHEETS:TRRXF) and Geocom Resources Inc. ("GOCM") are pleased to announce that the companies and BHP Billiton ("BHPB") have concluded the transfer of ownership of Iliamna (the "Property"), 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 Companies are confident that additional work at Iliamna will provide shareholder value and garner additional interests from the industries' majors.

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 Pebble deposit contains an indicated mineral resource of 31 million ounces of gold and 18.8 billion pounds of copper, making it one of the world's largest deposits of its kind. Initial target definition at Pebble occurred in areas covered by glacial overburden and/or Tertiary volcanic rocks, as is the case at the Iliamna Project. In 2000, Rio Algom carried out several phased exploration programs including an airborne magnetic survey, reconnaissance geology, and IP/Resistivity surveys. These surveys led to the successful identification of several geophysical anomalies, including the Iliamna Project. The airborne magnetic survey successfully outlined three regional anomalies: the Pebble intrusive complex, the Nushagak anomaly, and the Kvichak anomaly, which includes the Iliamna property. Following the regional geophysical programs, site-specific IP/Resistivity Surveys targeted and successfully located several anomalies that are similar in size and characteristics to the Donlin Creek and Pebble deposits, including the Iliamna Project. Subsequent drilling encountered copper-gold mineralization in an intrusive setting at Iliamna's H Claims.

This news release has been prepared under the supervision of John Harrop, P.Geo, TNR's qualified person on this news release.

ALASKA BALLOT INITIATIVE RESULTS

The recent voting results on August 26th confirmed Alaskan public's belief that existing state and federal regulatory system provides them with a thorough review process to address environmental impacts that mining projects may on have local fishing industries. The citizen-backed initiative was intended to strengthen the minimum standards for mining activities near salmon-bearing streams. A wide margin victory gives TNR and other exploration and mining companies in Alaska such as Teck Cominco Ltd., NovaGold Resources Inc., Barrick Gold Corp., and Northern Dynasty Minerals Ltd. renewed confidence in ongoing developments of world class deposits in Alaska.

ABOUT TNR GOLD CORP.

TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 17 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto, and El Tapau in Argentina as well as Iliamna and Shotgun projects in Alaska.

On behalf of the board,

Gary Schellenberg, President

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.

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

SOURCE: TNR Gold Corp.

TNR Gold Corp. Gary Schellenberg President (604) 687-7551 or Toll Free: 1-800-667-4470 (604) 687-4670 (FAX) Email: info@tnrgoldcorp.com Website: www.tnrgoldcorp.com
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