TNR TNR Gold Corp

TNR Gold Corp. (TSX VENTURE:TNR) (the "Company") and its wholly owned subsidiary
Compania Minera Solitario Argentina S.A. ("Solitario") are pleased to provide
the following update on the Los Azules project and its litigated dispute with
Minera Andes Inc. and others.


The Los Azules project is subject to litigation in the Supreme Court of British
Columbia involving the Company and Solitario, Minera Andes and various of its
subsidiaries and a subsidiary of Xstrata Copper. The various proceedings in the
dispute have been consolidated and the pleadings are being amended, so that all
issues will be heard together in a six week trial scheduled for late 2012. The
Court filings relating to the litigation are available from the BC Supreme Court
registry database (BC Online) and are hosted on TNR's webpage:
www.tnrgoldcorp.com/s/LosAzules.asp.


Recent Developments

Minera Andes has recently announced that it has agreed to be acquired by US Gold
Corporation pursuant to a Plan of Arrangement. If the transaction is approved by
the shareholders of Minera Andes and US Gold at shareholder meetings to be held
on January 19, 2012, and if the other conditions to closing are satisfied or
waived, Minera Andes will become an indirect subsidiary of US Gold, which will
be renamed "McEwen Mining Inc.". Whether or not the transaction is completed,
TNR Gold advises that it will continue to vigorously pursue the Los Azules
litigation uninterrupted against Minera Andes and several of its subsidiaries.


Notwithstanding the litigation, Minera Andes has continued to develop the Los
Azules project and reported an increase in the mineralized resource in June,
2010. Minera Andes has also reported that, as of September 30, 2011, it has
expended a total of $37.8 million on exploration activities at Los Azules, much
of this directed to drilling and engineering work to support a preliminary
feasibility study.


Further to the Company's news release of September 9, 2011, concerning drilling
undertaken by Minera Andes on the Escorpio IV property, the Company is now
taking steps to investigate and confirm the fact and extent of any trespass by
Minera Andes on the Escorpio IV mineral claims, which are registered to
Solitario. Specifically, with the seasonal opening of the High Andes in which
the project is located, the Company is in the process of engaging a Notary
Public to conduct a physical site verification of the Escorpio IV mining
property, accompanied by the Argentinean mining police, under the Ministry of
Mines - San Juan Province.


Background to the Los Azules Litigation

The Los Azules dispute involves certain properties constituting the northern
half of the project (the "Solitario Properties") which are subject to an option
agreement (the "Solitario Option") between Solitario and Xstrata Copper, a
predecessor in title to Minera Andes. The Company disputes that Xstrata's
expenditure obligations under the option were properly met and asserts that the
option was not properly exercised. On that basis, the Company and Solitario are
asking the Court to convey 100% of the Solitario Properties to the Company or to
award the Company damages equivalent to the value of the Solitario Properties.


The Company is also seeking rectification and recognition of its right under the
Solitario Option to 'back in' to 25% of the equity of the Solitario Properties;
together with a declaration that a disputed property adjacent to the Solitario
Properties and known as Excorpio IV was not subject to the Solitario Option and
that the Company has retained ownership of this property.


ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.

TNR is a diversified international mineral exploration company focusing on the
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 Mariana, is now held by TNR's now-listed subsidiary, ILC.
TNR remains a large shareholder in ILC at 28% of outstanding shares.


The recent acquisition of lithium, other rare metals and rare-earth elements
projects in Argentina, Canada, USA and Ireland confirms the TNR and ILC's
commitments to generating projects, diversifying its markets, and building
shareholder value.


On behalf of the board,

Gary Schellenberg, President - TNR Gold Corp.

Statements in this press release other than purely historical information,
historical estimates should not be relied upon, including statements relating to
the Company's future plans and objectives or expected results, are
forward-looking statements. News release contains certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and uncertainties
inherent in the Company's business, including risks inherent in resource
exploration and development. As a result, actual results may vary materially
from those described in the forward-looking statements. In particular, there are
no assurances that the Company will achieve a favourable outcome in the Los
Azules litigation.


CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

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