|April 19, 2006|
Tonogold Resources, Inc. Announces Drilling and Exploration Schedule for Nyac, Alaska Project
|La Jolla, California, April 19, 2006. Tonogold Resources, Inc. (Pink Sheets: TNGL) will open their gold drilling and exploration camp at Nyac, Southwest Alaska, on May 1st, 2006. The core drilling program is scheduled to begin June 1st, 2006.|
Nyac drilling contractor, Boart-Longyear, will drill up to 19,600 feet of core. The first target is an exposed and mineralized intrusive at Bonanza Peak with a consistently high gold-bismuth soil anomaly covering approximately half a square mile and soil values up to 3 g/t Au. After three initial holes at Bonanza Ridge, drilling will move to Shamrock, another area of high gold-bismuth values with up to 4.2 g/t Au in soils above well mineralized volcanic rocks proximal to underlying intrusives. The first round of this year's drilling will also target the Pipe, Rocky Ridge, and Wallace areas, all of which returned high and consistent gold-in-soil and trace element values. Tonogold's 2005 rock chip samples were as high as 15.1 g/t at Bonanza Ridge and 7.0 g/t at Wallace, along with visible gold at Wallace.
In addition to the core drilling in 2006, Tonogold plans to evaluate the northern half (5,800 acres) of the central part of the district with 5,000 soil samples. In 2005, Tonogold covered the southern half of the central district (4,000 acres) with 3,000 soil samples at a maximum spacing of 200 feet by 400 feet (60m by 120m). Alaska Assay Labs will be Tonogold's primary assayer for core, soil, and rock chip samples.
Yukon Aviation, Inc. is providing helicopter support for the drilling, soil sampling, and mapping programs at Nyac. Yukon's Bell 206B-3 Jet Ranger will transport personnel, equipment and supplies, and their Bell UH-1B will move the drill rig. Chiulista Camp Services will provide camp services, including meal service and housekeeping.
Jeff Janda, Tonogold's President, stated "Our surface sampling program last year exceeded our expectations. We expect this year's core drilling to extend the promise of this intrusive-related gold system to depth. We also look forward to the promising results of our additional soil, outcrop mapping, and geophysical surveys. The 2006 team of eight geologists and eight Calista shareholders, part of a planned 24-man camp, should be equal to the task of delineation and discovery at the Nyac gold project."
Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California with gold and silver properties in Alaska and Nevada. Tonogold is the parent company of Prospect Uranium, Inc. For more information on the Company visit their websites at www.tonogold.com and www.prospecturanium.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 "plan(s)", "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.
Tel. 858 456-1273
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