PDAC - the downturn cycle continues - TNR.v ILC.v MUX.to

The TSX Venture index has continued to under perform the broad markets. Given it's April this week - it's hard to fathom how the market will correct when usually Jan-Mar is the bullish cycle leading up the PDAC Convention in Toronto every year.

Headlines left and right tell us that major markets has corrected, yet evidence from capital financing and follow on financing for most commodity companies tell us otherwise.


At the recent Mines/Money in Hong Kong, the CEO of one of the largest gold miners in the world, Chuck Jeannes, spoke out about the massive underperformance of commodity companies in the last few years.

1. Longterm gold pricing
- With loose monetary policies continuing and Quantitative Easing no real possibility of stopping while economy is still recovering, commodity prices going up are an eventuality.

2. Underestimation of longterm production costs
- Instead of cash-costs - Goldcorp has initiated an industry wide effort to take into account what's called
"sustaining cash costs" - this takes into account the fact that these gold and metal projects had to be acquired or purchased at some point, and that isn't a perpetual expectation that can be relied on.

It's getting harder to find projects of quality, and costs are going up.

3. Spiking overall Capital Expenditures (CAPEX)
- more responsibility to shareholders for delivering projects under budget and timing

Just a reminder what M3 is - and the fact that it's not even measured anymore since 2005 is real worrying! To borrow a chart from ShadowStats

 

"The Federal Reserve publishes weekly and monthly data on three money supply measures -- M1, M2, and M3 -- as well as data on the total amount of debt of the nonfinancial sectors of the U.S. economy... The money supply measures reflect the different degrees of liquidity -- or spendability - that different types of money have. The narrowest measure, M1, is restricted to the most liquid forms of money; it consists of currency in the hands of the public; travelers checks; demand deposits, and other deposits against which checks can be written. M2 includes M1, plus savings accounts, time deposits of under $100,000, and balances in retail money market mutual funds. M3 includes M2 plus large-denomination ($100,000 or more) time deposits, balances in institutional money funds, repurchase liabilities issued by depository institutions, and Eurodollars held by U.S. residents at foreign branches of U.S. banks and at all banks in the United Kingdom and Canada."

On a positive note, several of the position we've tracked and owned over the years continue to hold their grounds despite wide losses across the overall sector of junior miners.

1. TNR Gold Corp

- McEwan Mining (MUX.TO) has fallen in credibility after confirming in November 2012 that the Los Azules lawsuit did have merit, and TNR has continues to gain momentum.

It's no surprise that after the lawsuit, McEwan Mining has now commenced additional exploration over the land that TNR was contesting for. Why explore something that you know is valuable but will add a bigger price tag to the dispute, right?

Turns out they were right. Northern part of Los Azules continue to impress.

TNR optionee McEwen drills 206 m of 0.55% Cu at Azules

2013-04-02 08:37 ET - News Release

Mr. Kirill Klip reports

TNR GOLD CORP. ADVISES OF MCEWEN MINING'S DRILL RESULTS AT THE LOS AZULES COPPER PROJECT

McEwen Mining Inc. released news on March 28, 2013, in relation to the Los Azules copper project in San Juan province, Argentina. TNR Gold Corp. holds a 25-per-cent back-in right, exercisable upon the completion of a feasibility study, on the northern part of the Los Azules property.

The news release issued by McEwen Mining summarizes recent results from nine new drill holes completed on the property. In its press release McEwen Mining states, "Drilling continues to intersect significant intercepts of high- to medium-grade copper mineralization over long intervals west of the original deposit." The news release is available on McEwen Mining's website and on SEDAR. TNR encourages its shareholders to read the press release issued by McEwen Mining to gain a better understanding of the work performed and the potential impacts this will have on the project. McEwen Mining's press release appears to be prepared by a qualified person and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no qualified person engaged by TNR Gold has done sufficient work to analyze, interpret, classify or verify McEwen Mining's information to determine the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

In its news release, McEwen Mining announced assay results from nine new drill holes. Highlights from the news release include the reported intervals from two drill holes that are located on the Escorpio II mineral claim, which forms a part of the land package included in TNR Gold's back-in right.

                          RESULTS

Hole ID  From (m)      To (m)  Thickness (m)   Copper (%)    

12106        106         222            116         1.01 
             222         428            206         0.55
             428         496             68         1.18                               
12114        224         374            150         0.70                

In addition, McEwen Mining announced that it has completed 15,800 metres drilling this season with the results to be incorporated into an updated resource estimate to be released by the end of May. The resource will subsequently form the basis of a new preliminary economic assessment expected in the third quarter 2013.

Kirill Klip, non-executive chairman of TNR, stated: "McEwen Mining continues to prove up the potential of the Los Azules project. The latest drill results reported in the McEwen Mining press release show mineralization occurring to the west of the original deposit and at deeper depths. I especially welcome the discovery of higher-grade material and look forward to reading more as the project evolves over time. This project has the potential to become an important value driver for TNR Gold and our shareholders."

John Harrop, PGeo, FGS, is a qualified person as defined under National Instrument 43-101 and has reviewed and approved the technical content of this news release.

About Los Azules

The Los Azules copper project is located in San Juan, Argentina. It is one of the largest undeveloped copper projects in the world. The Los Azules porphyry system occurs within a belt of porphyry copper deposits known as the Andean porphyry belt that straddles the Chilean/Argentine border and contains some of the world's largest copper deposits.

TNR Gold retains a back-in right on the Los Azules project, currently 100 per cent owned by McEwen Mining. The back-in right is for up to 25 per cent of the equity in certain claims making up the northern portions of Los Azules. The right is exercisable upon the completion of a feasibility study. TNR must pay two times the expenses attributable to the back in percentage (that is paying two times 25 per cent all of the costs attributable to the claims comprising the northern portion of the property). If the company elects to back in for 5 per cent or less or has its interest diluted to 5 per cent or less, TNR will receive a net smelter royalty of 0.6 per cent.

TNR Gold's back-in right applies to those properties subject to an exploration and option agreement originally signed by Solitario Argentina S.A. (a subsidiary of TNR Gold) and M.I.M. Argentina Exploraciones S.A. on May 15, 2004.

2. International Lithium (ILC:TSXV) - drill results from Ontario is positive and new discovery in Ireland!
ILC continues to prove the validity of the project in 2013 with high grade lithium drill results in Ontario.
Earlier in 2012 late, ILC receives another $2 million in injection from strategic partner in China, Ganfeng Lithium.

Despite tougher markets, having an end user backing your project puts ILC above and beyond several companies in this space.

International Lithium Corp Symbol C : ILC Shares Issued 77,133,046 Close 2013-04-02 C$ 0.035 Recent Sedar Documents View Original Document Int'l Lithium drills 10.85 m of 1.05% Li2O in Ontario 2013-04-03 13:39 ET - News Release Mr. Kirill Klip reports INTERNATIONAL LITHIUM CORP. REPORTS HIGH GRADE LITHIUM FROM MAVIS LAKE, ONTARIO International Lithium Corp. has released lithium and associated rare metal assay results from the remaining eight drill holes of the recent 19-hole (2,075-metre) diamond drill program on the lithium and rare metals pegmatite field spanning the contiguous Fairservice and Mavis Lake claim blocks near Dryden, Ont. Key highlights: 1.34 per cent lithium oxide over 8.5 metres intersected in MF-12-33; 1.05 per cent lithium oxide over 10.85 metres intersected in MF-12-34; 1.06 per cent lithium oxide over 10.75 metres intersected in MF-12-36. Recent drill program The objective of the 2012 drill program carried out at the Fairservice/Mavis Lake project during November and December was to test the subsurface continuity of significant pegmatite intersections along strike and downdip. Extensive structural, geological, geochemical and geophysical interpretations of both new and historical data were utilized to co-ordinate drilling and better understand the orientation and distribution of pegmatite bodies in the area. The attached table reports highlights from the final eight holes of the 2012 program. Hole No. From To Length* Li2O (m) (m) (m) (%) MF-12-31 34.25 39.00 4.75 0.53 MF-12-33 22.00 30.50 8.50 1.34 MF-12-34 22.45 33.30 10.85 1.05 MF-12-35 32.90 35.20 2.30 0.64 MF-12-36 27.75 38.50 10.75 1.06 MF-12-37 23.70 27.85 4.15 0.51 *All widths reported are drill core widths and have not been converted into true width. The attached table includes intervals of significant tantalum values from MF-12-31 through MF-12-38. Hole From To Length* Ta Ta2O5 (m) (m) (m) (ppm) (%) MF-12-34 22.45 33.30 10.85 108 0.013 MF-12-35 32.90 35.20 2.30 152 0.019 MF-12-37 23.70 27.85 4.15 171 0.021 *All widths reported are drill core widths and have not been converted into true width. Diamond drill holes were oriented perpendicular to the surface trace of the central band of pegmatite. The central band has a number of lithium-bearing outcrops that were the focus of historical drill programs and currently forms the primary target for the company's drilling. It is now evident that the central band of pegmatites has a thick, shallow-dipping, spodumene-bearing core zone centred on pegmatite No. 4. Laboratory work was conducted by Activation Laboratories Ltd. of Ancaster, Ont., with the samples being submitted by company staff to its Dryden prep facilities. Activation Laboratories is an accredited laboratory with ISO 17025:2005 and CAN-P-1579 certification. Analysis was conducted using a sodium peroxide fusion followed by ICP-MS. The company uses industry recognized practices to ensure quality control. To support this, a number of large samples were collected from surface sites known to have significant lithium and tantalum values. Following preliminary analysis, a blend of these samples is being used to develop a certified reference material matrix matched to the company's pegmatite projects. The new reference material has been inserted into the sample stream at the property and will be utilized on other company projects. The Mavis/Fairservice property area The property is located 15 kilometres northeast of Dryden, Ont., and is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim blocks comprise a total of 2,624 hectares and straddle a continuous pegmatite field exhibiting high-grade, well-evolved lithium and tantalum zonation, as well as significant levels of cesium and rubidium. Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake pluton and related pegmatitic granite dikes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by mafic metavolcanic rocks. Rare metal mineralization occurs in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves to the east within the Fairservice and Mavis Lake claim blocks into external zones of beryl-columbite-, spodumene-beryl-tantalite- and albite-type pegmatites. John Harrop, PGeo, FGS, is the company's qualified person on the project as required under National Instrument 43-101 and has reviewed the technical information contained in this press release.

Los Azules court case settled - McEwan settles with microcap gold miner TNR Gold Corp MUX.to TNR.v

Longtime readers of the blog will no doubt recognize the company and the legal pursuits of the microcap junior that evolved from copper/gold play into a litigious junior with a lithium upside, going up against one of the biggest name in mining.

Over two years in the making.

Plenty of doubters.

Not quite a win, but nevertheless far more than anyone expected from a tiny $10 million microcap in a legal battle against a billionaire-funded multi-billion gold conglomerate.

In this battle of David vs. Goliath, it is clear that David walked out the victor.

Question is, what will Goliath do with the newly consolidated holdings of Los Azules?

Considering insider and management ownership is far higher on TNR.v versus MUX, Mining101 offers our heartfelt congratulations to the men and women at TNR Gold for their dedication in seeing the process through. Hope the million shares of MUX is spent wisely on future explorations and JV efforts.

Congratulations!

TNR Gold settles lawsuit over Los Azules

2012-11-14 10:15 ET - News Release

Mr. Kirill Klip reports
LOS AZULES COPPER PROPERTY LAWSUIT AGAINST MCEWEN MINING SETTLED TNR'S 25% RIGHT TO BACK-IN AT FEASIBILITY RESTORED
TNR Gold Corp. and its wholly owned subsidiary, Solitario Argentina S.A., have reached a settlement with McEwen Mining Inc., which resolves the outstanding litigation with respect to the Los Azules copper project located in San Juan province, Argentina.
The settlement restores a 25-per-cent back-in right to TNR, which is exercisable following the completion of a feasibility study. The back-in right allows TNR to back in for 25 per cent of the northern part of the Los Azules property, which McEwen Mining has said contains the largest share of the known resource at Los Azules.
In addition, TNR receives an industry-standard net smelter royalty of 0.6 per cent and one million shares in McEwen Mining (information about McEwen Mining can be found at its website and on SEDAR). The net smelter royalty is over the northern portion of the property and is triggered if TNR chooses to back in for 5 per cent or less or is diluted below 5 per cent. In return, TNR will discontinue its claims and transfer to McEwen Mining the mineral rights to a property called Escorpio IV.
Kirill Klip, non-executive chairman of TNR Gold, stated: "I welcome the positive resolution of the Los Azules litigation in the out-of-court settlement between TNR Gold and McEwen Mining. I would like personally to thank Rob McEwen as this resolution is a highly beneficial outcome for both our companies. Removing the uncertainty over the rights to Los Azules will allow the project to now achieve its full potential for the benefit of the shareholders of both TNR Gold and McEwen Mining, and I consider our stake in McEwen Mining as a strategic holding for TNR Gold."

Lithium sector once again heats up with the brazen industry consolidating acquisition of Talison Lithium.


Why is this significant? Well, for one thing, it presents a potential exit scenario for those lithium groups with quality assets - Orocobre's Olaroz, Lithium One, Lithium Americas, International Lithium, Rodinia are some of the interesting projects coming up.

I'll write more about this in the coming days - needless to say the lithium industry needed some marketable news after graphite industry took away the Li-ion interest from the market after earlier this year. 

http://www.businesswire.com/news/home/20120823005594/en/Rockwood-Holdings-Agrees-Acquire-Talison-Lithium

PRINCETON, N.J.--(BUSINESS WIRE)--Rockwood Holdings Inc. (NYSE: ROC) announced today that it has entered into a definitive agreement with Talison Lithium Limited (TSX: TLH) to acquire all of the outstanding shares of Talison in an all-cash transaction for C$6.50 per share for an equity purchase price of approximately C$724 million, on a fully diluted basis (US$732, based on an exchange rate of C$1 = US$1.011635). The Board of Directors of Talison has unanimously recommended the transaction to Talison shareholders. The transaction is subject to the approval of Talison shareholders and other customary closing conditions.

“The acquisition of Talison is the logical next step in further strengthening our lithium business and enhancing our capabilities. This acquisition will enable us to better serve both our existing global customers as well as Talison's current lithium concentrate customers in China and the rest of the world.”

Rockwood intends to finance the acquisition using existing cash on its balance sheet and new debt financing.
Commenting on the transaction, Seifi Ghasemi, Chairman and CEO of Rockwood, “The acquisition of Talison is the logical next step in further strengthening our lithium business and enhancing our capabilities. This acquisition will enable us to better serve both our existing global customers as well as Talison's current lithium concentrate customers in China and the rest of the world."
Lazard is acting as exclusive financial advisor to Rockwood, and Gilbert & Tobin is acting as Rockwood's legal counsel.
ABOUT ROCKWOOD
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,000 people and annual net sales of approximately $3.7 billion. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
ABOUT TALISON
Talison is a leading global producer of lithium and has been supplying a global customer network from the Greenbushes Lithium Operations in Western Australia for over 25 years. In anticipation of sustained growth in lithium consumption, Talison has doubled its production capacity at the Greenbushes Lithium Operations.

ILC.v Commencement of Drilling soon! ILC.v ORL.to RM.v LAC.to LI.v CLQ.v

Months after the much fan-fared public listing with Ganfeng Lithium - the prominent lithium junior, International Lithium (ILC:TSXV) is finally slated to commence their exploration program in Argentina.

After a relatively quiet period in the lithium space - analysts are starting to pay attention again with the likes of Rodinia quickly achieving a quick Net Present Value (NPV) of over $900 million (NPV estimate of $964-million). Yet the company is trading at only $30 million market cap!

ILC is very much the same way, with a even higher trajectory of growth. See Value Realization curve above, at Feasibility ILC can potentially realize 10 times the current market cap, based on comparables in the sector such as Lithium One.

Orocobre (ORL) is slated to start production in 2012 and Lithium Americas (LAC) has a quarter of their lithium brine pumps producing already.

News release on ILC below - we are long ILC from the TNR Gold spinoff.

__

Vancouver B.C.: International Lithium Corp. (“ILC” or the “Company”) is pleased to announce a Reverse Circulation drill rig has been secured for the forthcoming drill program at the Mariana lithium brine project in the province of Salta, northwestern Argentina.

Key Highlights:

· Mariana Phase 1 resource delineation drill program commencing within two weeks;

· Objective is to characterize the subsurface brine across different regions within the salar;

· Extensive Phase 2 drill program planned for early next year; and

· Inferred Resource estimate targeted for Q3-2012.

“We are anticipating not only the commencement of drilling within the next two weeks, but the first real step in quantifying the subsurface potential of the Mariana salar” Mike Sieb, President of International Lithium Corp. states. “This Phase 1 resource delineation drill program will provide a wide spaced characterization of the subsurface brine in preparation for an extensive follow-up program early next year.”

Mariana Drill Program

The Company will commence a 4-6 hole Phase 1 drill program on the Mariana lithium brine property in Argentina within the next two weeks. The goals include a) geochemical characterization of the subsurface brine across different regions within the basin, b) identification of the stratigraphy for a geological model of the salar, and c) identification and characterization of the aquifer potential of the basement of the salar. The Company’s intent is to utilize this drill program as a first step towards a resource classification of the brine. A more extensive drill program is planned for early next year that will focus on the priority areas of the salar identified through the current program. The objective of the subsequent Phase 2 drill program will be to continue to delineate, characterize and add to the confidence level of the geochemistry of the host aquifer; with an Inferred Resource estimate targeted for Q3-2012.

The site preparation for the Phase 1 drill program at Mariana is complete and a drill rig has been secured. Through April to June 2011 a 20-person fully operational camp was erected at site, a 25 kilometre drill road network was constructed across the salar and 8 drill platforms were prepared.

About the Mariana Project

The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that returned average grades of 440 mg/L lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile.

John Harrop, P.Geo, is the company's Qualified Person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.

ABOUT INTERNATIONAL LITHIUM CORP

International Lithium Corp. is an international rare element metals (“REM”) exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner, Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer, as a keystone investor.

ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company’s primary focus is the Mariana lithium brine project, a salar or ‘salt lake’, covering 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American ‘Lithium Belt’ centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.

Complementing the Company’s lithium brine projects are the REM pegmatite properties. The key characteristics shared by the hard-rock REM projects are their limited past exploration, excellent accessibility, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential to meet the global technological growth in demand for the REM suite of elements.

International Lithium Corp.’s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.

On behalf of the Board,

Mike Sieb

President – International Lithium Corp

TNR spins off International Lithium - dividend unit cutoff MAY16

Great news for all long term investors in TNR Gold.
They seem like they have all the right ingredients for success - with Orocobre and Lithium Americas advancing their projects to Pre-Feasibility, we look at International Lithium with obvious optimism.

FACTS:
- International Lithium has a 160km 100% owned Lithium salt lake in Argentina
- Insider / management like the deal - so much they own over 50% of the parent company.
- Parent company after ILC spinoff will hold 30% of the shares
- Strong Chinese investor, one of the largest lithium battery manufacturer companies in China, has decided to invest into 10% of the company

Do your own due research - we have done ours and we can't wait to see this spinoff happen!

TNR receives TSX-V OK to spin out Int'l Lithium May 19

2011-05-12 08:45 ET - News Release


Mr. Mike Sieb reports
TNR GOLD CORP.: INTERNATIONAL LITHIUM CORP. SPIN-OUT RECORD DATE SET
The TSX Venture Exchange has approved TNR Gold Corp.'s plan of arrangement involving the spin-out of TNR's lithium and rare metals property interests into a separate public company, International Lithium Corp. The plan of arrangement will close and be given effect on May 19, 2011 (note 1).
Key highlights:

• TSX Venture Exchange approves the company's plan of arrangement and ILC spin-out;
• Sets record date/effective date for May 19, 2011;
• May 16, 2011, is the last trading day whereby eligible TNR shareholders at the close of market will receive the ILC unit distribution in accordance with the terms of the plan of arrangement (note 1);
• ILC financing will close concurrently with plan of arrangement;
• Strategic relationship with Jiangxi Ganfeng Lithium Co. Ltd. solidifies as plan of arrangement approaches completion.

As part of the process, a separate press release will be issued on or following the effective date providing further details for the listing of ILC's common shares and share purchase warrants once listing conditions have been satisfied.
Plan of arrangement
The plan of arrangement, which is fully described in the company's information circular, dated May 10, 2010, effectively involves a restructuring of the company's business and assets in order to separate its rare metals mineral property interests from its other precious and base metals assets.
Pursuant to the arrangement:

• TNR will transfer its lithium and rare metals mineral properties, excluding the Mariana lithium brine property, to ILC for 10 million ILC common shares and 10 million ILC share purchase warrants, each whole ILC share purchase warrant exercisable to acquire one additional share of ILC at 37.5 cents per share for two years.
• Concurrent with the closing of the plan of arrangement, ILC will exercise the Mariana option agreement whereby ILC will acquire a 100-per-cent interest in and to the Mariana lithium brine property in exchange for the reimbursement of TNR's costs in acquiring, maintaining and exploring the Mariana property, of which $1-million shall be payable through the issuance of seven million ILC common shares and seven million ILC warrants, and the balance of which shall be payable in cash.
• Every TNR shareholder will exchange its common shares in TNR for one new common share of TNR and one-quarter of one common share of ILC and one-quarter of one ILC warrant.
• TNR warrantholders will receive on exercise of each warrant one new common share of TNR and one-quarter of one common share of ILC. The exercise price paid will be split between TNR and ILC on the same ratio that the fair market value of the spin-out properties has to the fair market value of all assets of TNR.

Note 1
The record date allows for a three-day standard settlement of accounts from a May 16, 2011, trade date. Therefore May 16, 2011, will be the last day to acquire TNR shares, through normal stock market acquisition procedures, which are eligible pursuant to the plan of arrangement for conversion into one new common share of TNR and one-quarter of one common share of ILC and one-quarter of one ILC warrant. For the avoidance of doubt, if an investor was to purchase shares of TNR on May 17, 2011, through the stock market, that investor will not receive ILC common shares and ILC warrants through the plan of arrangement. Such investor will receive only new common shares of TNR.
ILC financing
In order to complete the plan of arrangement, ILC intended to raise a minimum of $2.5-million to provide ILC with sufficient operating and administration funds to satisfy exchange requirements for listing; however, due to the level of demand the financing is currently oversubscribed with the company receiving $3-million in commitments.
The financing consists of units in ILC offered at a price of 25 cents per unit. Each unit consists of one common share and one ILC warrant. Each ILC warrant entitles the holder to purchase one additional common share of ILC at a price of 37.5 cents for a period of two years from the date of closing. Certain fees may be payable on a portion of the placement, in compliance with exchange requirements. The common shares and ILC warrants comprising the ILC units sold under the financing will be restricted from trading for four months in accordance with applicable securities laws.
Jiangxi Ganfeng Lithium Co. (Ganfeng Lithium), a leading China-based multiproduct lithium manufacturer, has committed through a strategic relationship agreement to an initial strategic investment consisting of a 9.9-per-cent equity stake in ILC. Ganfeng Lithium brings significant current and future project development assistance capability. For further details regarding Ganfeng Lithium refer to the company's press release dated April 18, 2011.
TNR and non-executive chairman Kirill Klip plan to participate in the financing.

How would you like a bigger portion of Los Azules? TNR.v MAI.to CUM.to CUU.v MSQ.v

Apparently, the British Columbia Supreme Court found there was sufficient merit in little miner company, TNR Gold Corp's plea to include additional claims?

We like the sound of a bigger claim on this very exciting copper project.

What would this bode for Minera Andes (MAI:TO), who is now potentially facing the loss of operating control of the project? Keep in mind, TNR's deal with Xstrata originally consists of the 51% (operating majority) of the project.

In addition to the spinoff news - CUTOFF TODAY - it's an excellent idea to be a TNR shareholder today. In our humble opinions of course!

News here http://www.tnrgoldcorp.com/s/NewsReleases.asp?ReportID=457300

___

TNR GOLD GRANTED LEAVE TO ADD NEW CLAIM OVER LOS AZULES PROJECT

Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company) advises that following a two-day hearing before the British Columbia Supreme Court, TNR and its subsidiary, Solitario Argentina S.A., have been granted leave to amend their pleadings to add a new claim to the litigation (the "New Claim") over the Los Azules project in Argentina. The litigation involves TNR, Minera Andes Inc., MIM Argentina Exploraciones S.A. ("Xstrata") and related entities. The Los Azules project is an advanced exploration project currently reporting a National Instrument 43-101 compliant Inferred Resource.

In the original Notice of Claim, among other claims, TNR and Solitario seek rectification of a 2004 Exploration and Option Agreement with Xstrata (later assigned to Minera Andes) to restore a right on the part of Solitario to back-in to up to 25% of certain properties constituting the northern half of the Los Azules project (the "Properties") any time within 120 days of the production of a feasibility study. Minera Andes and Xstrata oppose rectification and the other relief sought by TNR and Solitario.

The New Claim alleges that Xstrata and Minera Andes did not complete the required exploration expenditures required for Xstrata's exercise of its option on April 23, 2007 to acquire the Properties. On that basis, TNR and Solitario advance a claim of breach of contract and intentional interference with economic relations, and seek the return of the Properties, or alternatively, damages as against the defendants or any of them.

As a result of the New Claim being added to the litigation, the trial scheduled to commence on June 20, 2011 in Vancouver, BC has been adjourned so that documents relating to the New Claim can be produced. A new date for the trial will be set in due course.

ABOUT TNR GOLD CORP.

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 18 active projects, of which 9 rare metals projects, including the Mariana Lithium Brine project, will be held or optioned to TNR's wholly owned subsidiary International Lithium Corp. ("ILC") upon completion of a Plan of Arrangement.
The objective of the Plan of Arrangement is to spin-out TNR's rare metals property interests into a separate public company, ILC. The Plan of Arrangement has been approved by TNR's shareholders, the courts of British Columbia and the TSX Venture Exchange with the Record Date / Effective Date set for May 19, 2011. For further details of the spin-out, please visit International Lithium's website, TNR's information circular dated May 10, 2010 which is available on the SEDAR website at www.sedar.com and the Company's press release dated May 12, 2011.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms TNR's commitment to generating projects, diversifying its markets, and building shareholder value.



On behalf of the board,

Gary Schellenberg
President
info@tnrgoldcorp.com

TNR spins off International Lithium - dividend unit cutoff MAY16 TNR.v CLQ.to WLC.to RM.v LI.v LAC.to ORL.to

Great news for all long term investors in TNR Gold.
They seem like they have all the right ingredients for success - with Orocobre and Lithium Americas advancing their projects to Pre-Feasibility, we look at International Lithium with obvious optimism.

FACTS:
- International Lithium has a 160km 100% owned Lithium salt lake in Argentina
- Insider / management like the deal - so much they own over 50% of the parent company.
- Parent company after ILC spinoff will hold 30% of the shares
- Strong Chinese investor, one of the largest lithium battery manufacturer companies in China, has decided to invest into 10% of the company

Do your own due research - we have done ours and we can't wait to see this spinoff happen!

TNR receives TSX-V OK to spin out Int'l Lithium May 19

2011-05-12 08:45 ET - News Release

Mr. Mike Sieb reports

TNR GOLD CORP.: INTERNATIONAL LITHIUM CORP. SPIN-OUT RECORD DATE SET

The TSX Venture Exchange has approved TNR Gold Corp.'s plan of arrangement involving the spin-out of TNR's lithium and rare metals property interests into a separate public company, International Lithium Corp. The plan of arrangement will close and be given effect on May 19, 2011 (note 1).

Key highlights:

• TSX Venture Exchange approves the company's plan of arrangement and ILC spin-out;
• Sets record date/effective date for May 19, 2011;
• May 16, 2011, is the last trading day whereby eligible TNR shareholders at the close of market will receive the ILC unit distribution in accordance with the terms of the plan of arrangement (note 1);
• ILC financing will close concurrently with plan of arrangement;
• Strategic relationship with Jiangxi Ganfeng Lithium Co. Ltd. solidifies as plan of arrangement approaches completion.

As part of the process, a separate press release will be issued on or following the effective date providing further details for the listing of ILC's common shares and share purchase warrants once listing conditions have been satisfied.

Plan of arrangement

The plan of arrangement, which is fully described in the company's information circular, dated May 10, 2010, effectively involves a restructuring of the company's business and assets in order to separate its rare metals mineral property interests from its other precious and base metals assets.

Pursuant to the arrangement:

• TNR will transfer its lithium and rare metals mineral properties, excluding the Mariana lithium brine property, to ILC for 10 million ILC common shares and 10 million ILC share purchase warrants, each whole ILC share purchase warrant exercisable to acquire one additional share of ILC at 37.5 cents per share for two years.
• Concurrent with the closing of the plan of arrangement, ILC will exercise the Mariana option agreement whereby ILC will acquire a 100-per-cent interest in and to the Mariana lithium brine property in exchange for the reimbursement of TNR's costs in acquiring, maintaining and exploring the Mariana property, of which $1-million shall be payable through the issuance of seven million ILC common shares and seven million ILC warrants, and the balance of which shall be payable in cash.
• Every TNR shareholder will exchange its common shares in TNR for one new common share of TNR and one-quarter of one common share of ILC and one-quarter of one ILC warrant.
• TNR warrantholders will receive on exercise of each warrant one new common share of TNR and one-quarter of one common share of ILC. The exercise price paid will be split between TNR and ILC on the same ratio that the fair market value of the spin-out properties has to the fair market value of all assets of TNR.

Note 1

The record date allows for a three-day standard settlement of accounts from a May 16, 2011, trade date. Therefore May 16, 2011, will be the last day to acquire TNR shares, through normal stock market acquisition procedures, which are eligible pursuant to the plan of arrangement for conversion into one new common share of TNR and one-quarter of one common share of ILC and one-quarter of one ILC warrant. For the avoidance of doubt, if an investor was to purchase shares of TNR on May 17, 2011, through the stock market, that investor will not receive ILC common shares and ILC warrants through the plan of arrangement. Such investor will receive only new common shares of TNR.

ILC financing

In order to complete the plan of arrangement, ILC intended to raise a minimum of $2.5-million to provide ILC with sufficient operating and administration funds to satisfy exchange requirements for listing; however, due to the level of demand the financing is currently oversubscribed with the company receiving $3-million in commitments.

The financing consists of units in ILC offered at a price of 25 cents per unit. Each unit consists of one common share and one ILC warrant. Each ILC warrant entitles the holder to purchase one additional common share of ILC at a price of 37.5 cents for a period of two years from the date of closing. Certain fees may be payable on a portion of the placement, in compliance with exchange requirements. The common shares and ILC warrants comprising the ILC units sold under the financing will be restricted from trading for four months in accordance with applicable securities laws.

Jiangxi Ganfeng Lithium Co. (Ganfeng Lithium), a leading China-based multiproduct lithium manufacturer, has committed through a strategic relationship agreement to an initial strategic investment consisting of a 9.9-per-cent equity stake in ILC. Ganfeng Lithium brings significant current and future project development assistance capability. For further details regarding Ganfeng Lithium refer to the company's press release dated April 18, 2011.

TNR and non-executive chairman Kirill Klip plan to participate in the financing.