LA JOLLA, Calif., June 16, 2005 (PRIMEZONE) -- Tonogold Resources, Inc. (Pink Sheets:TNGL) has begun field work on its Nyac Gold Exploration Project in southwestern Alaska.
Tonogold has planned a 4,000 sample geochemistry survey along with geophysical work including ground magnetics and resistivity. Our goal for the Summer 2005 program is to identify high probability drill targets for the 2006 season. Tonogold plans to complete its field work on Nyac in late August 2005.
Tonogold's Chief Geologist, Don Strachan, is leading the Nyac Project team, along with geologists and a sampling crew from Calista Corp., an Alaskan Native Corporation.
Chiulista Camp Services is supporting the project and providing logistical services.
Jeff Janda, President of Tonogold Resources, Inc., commented, "The next step in advancing the Nyac property is a comprehensive surface sampling and mineral evaluation program that will focus our drilling efforts next season. We are looking forward to working with Calista and their excellent team of geologists and support personnel."
The Nyac Gold Project is located approximately 60 miles east of Bethel, Alaska and 300 miles west of Anchorage covering an area of approximately 57,600 acres. Tonogold is leasing the Nyac Property from Calista Corp.
Tonogold Resources, Inc. is a developmental stage minerals exploration company based in La Jolla, California. We are evaluating and acquiring properties for the production of precious metals in the western United States, Alaska and Mexico. The company also has a field office in the Denver, Colorado area. 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 the following: 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 or silver prices could adversely affect future profitability 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.