David vs Goliath TNR.v, MAI.to, Xstrata, Copper, Gold

It's usually quite interesting when lawsuits are started by junior miners against deep-pocket major corporations - really make you think there's some validity to their claims, no?

Last week junior miner TNR Gold amends their statement of defence and essentially defends their right to back-in on the large Los Azules project.

At current valuation $25 million market cap for TNR Gold, even a conservative 15% of Los Azules (valuated last by Canaccord at over $700 million) represents nearly a 3x multiple NAV (Net Asset Value).

As always please complete your due dilligence with a qualified advisor prior to any investment decision. Keep in mind, management and insider already holds more than 50% of outstanding shares - rarely do you see a company with execs holding that much.

If you think about it - they have much more to lose than the average shareholder - knowing this at least gives me comfort my money's being put to work hard by the management.

TNR GOLD FILES FULL RESPONSE TO MINERA ANDES STATEMENT OF CLAIM

Vancouver, B.C.: TNR Gold Corp. and its wholly-owned subsidiary, Solitario Argentina S.A. (collectively, "TNR"), have filed an Amended Statement of Defence and Counterclaim in the Supreme Court of British Columbia responding in detail to the Statement of Claim filed by Minera Andes Inc. and certain related entities (together, "Minera Andes").

As disclosed in our April 23, 2010 press release, TNR notified Minera Andes that it was exercising its back-in right for 25% of certain of the properties constituting the Los Azules project in Argentina (the "Los Azules Project"). Minera Andes is contesting TNR's ability to exercise its back-in right. The Amended Statement of Defence sets out, among other things, TNR's position as to why the back in clause in the May 2004 Exploration and Option Agreement should be rectified to remove reference to a feasibility study being completed within 36 months, and why the condition linking the timing of the back-in right to the production of a feasibility study was for the sole benefit of TNR and, therefore, could be waived by TNR. TNR has brought a Counterclaim which seeks a positive declaration from the court that TNR's April 23, 2010 back-in notice is valid and enforceable.

We encourage interested parties to review the Amended Statement of Defence and Counterclaim in their entirety on our website for a better understating of our position. The link for this information is as follows:

Download Link to Amended Statement of Defence

ABOUT TNR GOLD

TNR and International Lithium Corp ("ILC") are diversified metals exploration companies focused on exploring existing properties and identifying new prospective projects globally. TNR has a portfolio of 18 active projects, of which 9 will be included in the proposed spin-off of International Lithium Corp. For further details of the spin-off please refer to TNR's April 12, 2010 press release or visit http://www.internationallithium.com.