TNR GOLD REJECTS THIRD PARTY PROPOSAL AND PROVIDES LOS AZULES UPDATE

Vancouver B.C.: TNR Gold Corp. (the “Company”). As previously announced on May 11, 2012, the Company received an unsolicited proposal from a third party to merge with TNR and to acquire TNR’s wholly owned subsidiary Compania Miera Solitario Argentina S.A. (“Solitario”).  In response, the Board of Directors of the Company considered the proposal and pursued discussions with the third party.  In these discussions, TNR did not receive sufficiently enhanced terms such as would justify entering into exclusive discussions with the third party. Accordingly, the proposal was rejected and