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SHARE STRUCTURE<br />

Trading Symbol:<br />

Shares Issued:<br />

Fully Diluted:<br />

TSX.V : TNR<br />

148 Million<br />

159 Million<br />

Management and Insiders: 66%<br />

Institutional Holdings: 14%<br />

Transfer Agent:<br />

Computershare<br />

TNR’S Market Cap = $6.6M (April 15, 2016)<br />

1. Is TNR undervalued?<br />

2. What is a realistic expected value?<br />

TSX.V : TNR 4

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