Tornado Gold Reaches New Joint Venture Agreement with Allied Nevada Gold on Two Properties

Fri Feb 8, 2008 8:20pm EST
 
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RENO, Nev.--(Business Wire)--
Tornado Gold International Corporation (OTCBB:TOGI) (the
"Company") is pleased to announce that a preliminary agreement has
been reached with Allied Nevada Gold whereby the Company will be
relieved of its joint venture obligations respecting 13 properties
under a letter agreement signed between the Company and Allied. Under
the preliminary agreement, the Company will continue to work with
Allied in a joint venture on two of the most prospective properties,
the Illipah and NT Green Properties for further exploration. These two
properties join the Jack Creek Property and together constitute the
three most prospective properties in the Company's portfolio. Tornado
will concentrate its efforts on these three properties over the next
year and expects to drill two of them before year's end.

   Safe Harbor Statement:

   This news release includes statements about expected future events
and/or results that are forward-looking in nature and subject to risks
and uncertainties. Forward-looking statements in this release include,
but are not limited to, that we expect to drill two of our properties
before year's end. It is important to note that actual outcomes and
the Company's actual results could differ materially from those in
such forward-looking statements. Factors that could cause actual
results to differ materially include the uncertainty of the
requirements demanded by environmental agencies, the Company's ability
to raise financing for operations, potential delays or obstacles in
drilling and/or interpreting data, market fluctuations and spot prices
for gold, and the possibility that no commercial quantities of gold
are found or recoverable. For more risk factors about our Company,
readers should refer to risk disclosure in our most recent 10-K and
Form 10-Q filed on Edgar.

Tornado International Gold Corporation
President & CEO
Earl Abbott, 775-846-8398
earl.w.abbott@gmail.com

Copyright Business Wire 2008

 

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