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TNR Gold’s Upside<br />

No need for immediate financing<br />

No need to roll back!<br />

Value Increase on the Horizon!<br />

1. Actively seeking purchaser for Los Azules asset<br />

LA sale will provide funds for Shotgun!<br />

2. Spin-out of Shotgun in the works<br />

3. ILC developing assets with strategic partner<br />

4. New ‘low entry cost’ projects generation underway (IM,<br />

Cu-Zn-Au)<br />

5. Large insider support (66%)<br />

TSX.V : TNR 6

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