LA JOLLA, CA -- (Marketwire) -- 10/07/08 -- Tonogold Resources, Inc. (PINKSHEETS: TNGL)
announces that drilling has commenced on the Tonopah Divide Gold Project
located five miles south of the town of Tonopah, Esmeralda County, Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra Gold Inc. (TSX: CG), is
managing the exploration program as part of its Exploration and Option
Agreement with Tonogold Resources, Inc.
The drilling program consists of 12-15 holes for an approximate total of
10,000 feet of reverse circulation drilling. Eklund Drilling Company, Inc.
is the primary drilling contractor.
Tonogold Resources, Inc. is a minerals exploration company based in La
Jolla, California with properties in Alaska and Nevada. The company also
has a project office in Carson City, Nevada. For more information on the
Company visit their website www.tonogold.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995
This press release contains certain forward-looking information about
Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by
the safe harbor for "forward-looking statements" provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. Words such as "expect(s),"
"feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar
expressions are intended to identify forward-looking statements. These
statements include, but are not limited to, financial projections and
estimates and their underlying assumptions; statements regarding plans,
objectives and expectations with respect to future operations, products and
services; and statements regarding future performance. Such statements are
subject to certain risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Tonogold Resources, Inc., that
could cause actual results to differ materially from those expressed in, or
implied or projected by, the forward-looking information and statements.
These risks and uncertainties include: our lack of operating revenue and
earnings history, our need for additional capital to pursue our business
strategy, the grade and quantity of minerals in our projects may not be
economic, we do not have fee title to our properties, but derive our rights
through leases and the Mining Law, we are a non-reporting company and as
such do not make periodic filings with the Securities and Exchange
Commission, we trade on the Pink Sheets and there can be no assurances that
a liquid market will develop in our securities, mining is subject to
extensive environmental regulations and can create substantial
environmental liabilities, gold and silver are commodities which have
substantial price fluctuations, a drop in gold and/or silver prices could
adversely affect future profitability and/or capital raising efforts, and
mining can be dangerous and present operational hazards for employees and
contractors. Readers are cautioned not to place undue reliance on these
forward-looking statements. Tonogold does not undertake any obligation to
republish revised forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contact:
Phillip Winter
Jeff Janda
858-456-1273
ir@tonogold.com
www.tonogold.com