Tonogold Resources Inc (TNGL)

[ComstockRoyalty]

100,000 Ounces of Gold Per Year Target by TNGL

Annual production in excess of 100,000 ounces of gold per year with cash costs of ~$750/ounce. The work program for the initial 6-month period is expected to include:

Detailed Independent review of the Lucerne Resource

Possible infill drilling within the Lucerne Resource

As part of the initial review, there will be a focus on identifying high-grade zones within the overall Lucerne Resource to establish a better understanding on the structural controls and to help determine down-dip potential for subsequent drilling.

Assessment of the various known high-grade underground opportunities such as Succor, PQ, Woodville, etc. and to consider drilling programs to gain a better understanding of their potential.

LUCERNE RESOURCE to TNGL RESERVE?

The Official Resource for the Lucerne deposit as reported by Comstock will, as part of the initial work program, be re-estimated by Tonogold's technical consultants (Mine Development Associates (“MDA”), Reno) with an initial focus on that part of the Resource that is likely to be converted into a ??Reserve. ??