| December 21, 2005 Mesa Uranium Announces Uranium Project In New Mexico's Grants Uranium Belt | |
| La Jolla, California.. December 21, 2005. Mesa Uranium, Inc., a subsidiary of Tonogold Resources, Inc. (Pink Sheets: TNGL) announces the signing of a Mining Lease with Sedi-Met, Inc. The property under lease consists of approximately 53 unpatented claims on BLM managed land in the Grants Uranium District in New Mexico. Terms of the agreement were not disclosed. The Property under lease is on trend with both Jackpile remobilized uranium mineralization and Westwater trend uranium mineralization. The grade in the area is moderate. The Grants Uranium District is one of the premier uranium districts in the world and has produced 347 million lbs of U3O8. Private sources estimate the uranium resource in the Grants Uranium Belt to be 588 million lbs of which 282 million lbs is capable of being processed with in-situ leaching (ISL) methods. Jeff Janda, President of Tonogold said: "The Grants Uranium Belt has been a top producer in past cycles and should be an important part of future domestic production. Our strategy of focusing on properties which may be amenable to the in-situ leaching (ISL) mining method is perfectly suited to our new property in New Mexico." In-situ leaching (ISL) is the recovery, by chemical leaching, of the uranium deposit without physical extraction of the mineralized rock from the ground. Also referred to as "solution mining." Mesa Uranium, Inc. is a subsidiary of Tonogold Resources, Inc. Tonogold Resources, Inc. is a minerals exploration company headquartered in La Jolla, California with gold and silver properties in Alaska and 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 Mesa Uranium, Inc. and 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, silver and uranium are commodities which have substantial price fluctuations, a drop in gold, silver or uranium 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 and Mesa do 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 Tonogold Resources, Inc. 858 456-1273 phillipwinter@tonogold.com | |
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