TNR Gold Corp. announced an update from McEwen Mining Inc. on the Los Azules copper, gold and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (NSR Royalty) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project.

Located in San Juan, Argentina, the Los Azules Project has many features comparable to world-class copper-gold deposits in South America, including a thick blanket of higher-grade Enriched (or Supergene) mineralization. Significant Infill intercepts: 0.50% Cu over 502 m, including 0.87% Cu over 172 m (AZ22181); 1.00% Cu over 282 m, including 1.40% Cu over 172 m (AZ22186); 0.66% Cu over 500 m, including 0.92% Cu over 276 m (AZ22184A). In hole AZ22184A, an Enriched zone interval grading 0.92% Cu over 275 m (est.

true thickness) occurs in a hydrothermal magmatic breccia within the core of the deposit. This breccia unit acts as a conduit for mineralizing fluids, sometimes forming higher grades within the broader porphyry mineralization at Los Azules. Hole AZ22181 returned an Enriched zone intercept of 0.87% Cu over172 m (est.

true thickness). Hole AZ22186 includes an interval grading 1.00% Cu over 41 m (true thickness of 247 m) in the Enriched zone nearby a historic high-grade- intercept. This initiative also involves training and optimizing the entire value chain, with the significant engagement of local suppliers and services.

After resuming the exploration program in October 2022, drilling has now reached the 25,000 meters initially planned and will continue until the end of the field season. Key objectives of the program include: Increasing drilling density to upgrade the classification of shallower copper resources to measured and indicated categories. Providing metallurgical, hydrological and geotechnical data for the feasibility study mine design to be completed in late 2024.

Testing for extensions of Los Azules mineralization to the north, south and at depth.