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Message: Reprices Options
| March 19, 2009 |
| TNR Reprices Options |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR) announces that it intends to reduce the exercise price of 4,050,000 incentive stock options (with exercise prices of $0.20 to $0.35) to $0.10 per share, subject to TSX Venture Exchange acceptance, as well as, in the case of insiders of the Company, the approval of disinterested shareholders. The Company intends to seek such disinterested shareholder approval for the amendment to insider options at its next annual general meeting scheduled for May 2009. Accordingly each of the subject option holders will have the exercise price of their options reduced to $0.10 per share. There has been no change to the expiry date of the options. In addition, the Company will grant new stock options to certain directors, officers, employees and consultants entitling them to purchase up to 600,000 common shares of the capital stock in the Company at a price of $0.10 per share for a period of five years, subject to regulatory approval. All options are subject to a four month hold period from the date of grant. ABOUT TNR TNR is a diversified base metals, precious metals, and energy exploration company focused on identifying new prospective projects worldwide with a large portfolio of 15 properties in Argentina and well as overseeing the exploration and development of the Iliamna and Shotgun projects in Alaska through its new wholly owned US subsidiary, Bristol Exploration Co. Inc. Even as a global slowdown grips the economy, a clear shift to energy efficient solutions and power conservation will reveal that TNR well positioned to benefit our shareholders. On behalf of the board, Gary Schellenberg, President |
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