Tornado Gold Closes Over Four Million ($4,000,000 USD) in Equity Financing to Date, and Appoints Former General Manager of Barrick Gold Corp., Mr. Larry Kornze, to its Board of Directors
RENO, NEVADA--(Marketwire - Aug. 4, 2008) - Tornado Gold International Corp (OTCBB:TOGI) is pleased to announce that is has closed over four million ($4,000,000) in equity financing to date, at an average cost of $0.20. Proceeds will be used for continued land acquisition and exploration.
Further, Tornado Gold is very pleased to announce the appointment of Mr. Larry Kornze, P. Eng., to the Board of Directors, effective immediately.
Mr. Kornze recently retired from Barrick Gold Corporation as the General Manager of Exploration for Mexico and Central America, and International Evaluations. Prior to working internationally, Mr. Kornze was the US Exploration Manager for Barrick Gold Exploration Inc. and was part of the acquisition team responsible for the Goldstrike Mine exploration. The Goldstrike Mine is Barrick Gold Corporation's flagship mine which has produced over 30 million ounces of gold to date since its acquisition in 1987. His discoveries at Goldstrike include Betze, Meikle, Deepstar, Screamer and Rodeo deposits.
Prior to joining Barrick in 1985, Mr. Kornze held various positions with Newmont and Getty Mining Co. in North America. Since his retirement from Barrick Gold, Mr. Kornze has operated as an independent geological consultant and sits on the board of several public exploration companies, and is an avid wine maker and grape grower.
Larry Kornze's exceptional career in international gold exploration brings invaluable experience to the Company, which will greatly assist Tornado Gold's exploration on its gold properties in Nevada.
"I look forward with excitement to the exploration of Tornado Gold's properties in Nevada," said Mr. Kornze. "This state, with such a rich gold endowment, is a great place to explore with many possibilities to make large-scale gold discoveries."
About Tornado Gold International Corp.
Tornado Gold is a 100% USA owned and operated company with gold properties in the State of Nevada. Nevada is one of the most prospective places on earth to find and exploit giant gold deposits. The Company focuses on the discovery of massive gold deposits greater than 7M ounces. Tornado Gold's exceptional team of proven explorers collectively have decades of experience in utilizing unique, cutting-edge technologies. This will assist them in quickly and precisely targeting the areas on their properties where these giant deposits may lie undiscovered.
Tornado Gold International Corp.
Submitted on behalf of the board of directors
Earl W. Abbott, CEO / President
Tornado Gold International Corp.
Legal Notice Regarding Forward-Looking Statements
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning gold or other mineral reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present if and when a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. 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 misinterpretation of data, inaccurate estimates of gold or mineral deposits, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of gold or minerals are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior mineral exploration companies with the US Securities and Exchange Commission. This announcement may also contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
