TONOGOLD RES INC - TNGL STOCK NEWS

Tonogold Resources, Inc. (OTC PINK:TNGL) announced the receipt of commitments for conversion of over 63% of its outstanding convertible loan notes (CLNs) into equity. These conversions aim to reduce the company's debt load, enhancing access to capital for future drilling and exploration. Key details include a conversion price reduction for CLN4 to $0.13 and for CLN3 to $0.07 per share. The company expects to secure at least $8 million in gross proceeds from subsequent stock issuances. This strategic move is crucial for advancing Tonogold's gold assets in the Comstock Mining District.

Tonogold Resources, Inc. (TNGL) has announced the appointment of Gil Playford and Cody Whipperman to its board of directors as part of a leadership refresh. Playford brings over 40 years of mining and corporate experience, including a significant acquisition in 2007 valued at C$6.8 billion. Whipperman has a robust background in corporate development and serves as the CEO of Santiago Metals. These appointments aim to leverage their expertise to explore the Comstock Mining District while successors Guztavo Mazon and Travis Miller step down after eight years.

Tonogold Resources, Inc. (OTC:TNGL) has announced significant management changes, with William Hunter appointed as Chairman and Interim CEO, succeeding Brian Metzenheim, who becomes VP of Exploration. Ryan Welker joins the board as an independent director. Hunter brings over 30 years of experience, managing more than $20 billion in transactions, while Welker has strong ties in corporate development and finance. The company is also planning further board appointments, indicating a strategic refresh to enhance its exploration of the Comstock Mining District.

Tonogold Resources, Inc. (OTC PINK:TNGL) has announced an independent resource estimate for the Lucerne Deposit in the Comstock Mining District. The technical report, prepared by Mine Development Associates, indicates significant gold and silver resources from extensive drilling data. The Lucerne Deposit is estimated using a gold price of $1,750/oz and highlights areas for further exploration, including the Occidental-Brunswick Lode. Tonogold aims to resume exploration and has eliminated $6.65M in debt linked to Comstock Mining, retaining an option to reacquire interests in the Lucerne Mine.

Tonogold Resources (OTC:TNGL) announces encouraging drilling results from the Comstock Lode, highlighting recent assays from five holes. Notable results include 3.05 meters at 20.83 g/t AuEq within 7.62 meters at 9.51 g/t AuEq from hole TC-012. The drilling targets mid to shallow levels, with additional holes completed in several areas, leading to a potential substantial mineable resource of gold and silver in the district. However, challenges included poor sample recovery in two holes, prompting a review of drilling techniques. Upcoming drilling is planned to continue exploration efforts.

Tonogold Resources (OTC PINK:TNGL) announced significant changes on June 21, 2021, including the removal of Mark J. Ashley from its Board of Directors and the appointment of Fred Kofman as his replacement. The company is also restructuring agreements with Comstock Mining to suspend approximately $1 million in reimbursement payments until August 30, 2021. Additionally, the audit process aimed at upgrading its listing status is progressing, with completion expected in early August 2021. Tonogold continues to focus on establishing a viable gold and silver resource in the Comstock Mining District.

Tonogold Resources (OTC PINK:TNGL) announced positive assay results from three reverse circulation holes in the Occidental/Brunswick Lode, revealing an impressive intercept of 21.34 meters at 3.226 g/t gold and 15.7 g/t silver. The ongoing drilling program aims to validate a substantial minable resource in the Comstock Mining District. Drilling results indicate consistent gold and silver grades across significant widths, prompting an accelerated exploration strategy. Tonogold plans to expand its drilling to cover an additional 2,400 meters, anticipating further results in the coming months.

Tonogold Resources (TNGL) has appointed Brian Metzenheim as interim CEO, replacing Mark Ashley, amidst an ongoing exploration program in the Comstock Mining District. The company is enhancing its drill exploration of the Occidental/Brunswick Lode, planning to add a reverse circulation drill rig, which is expected to reduce costs by 25-30%. Recent drilling shows promising results, including 25 meters of 13.5 g/t Au. However, challenges with mineralization strength have been noted in the Comstock Lode. The company is also reviewing its Mil-Ler asset situation.

Tonogold Resources Inc. (OTC PINK:TNGL) announced the appointment of Dr. Odin Christensen to its advisory board and technical committee, effective immediately. Dr. Christensen brings over 45 years of experience, particularly in the mineral exploration sector, including significant roles at Newmont Mining Corporation. He will aid in enhancing Tonogold’s drill exploration program in the Comstock Mining District. His expertise in geology and exploration is expected to strengthen strategic initiatives moving forward.