CHICAGO, July 24, 2006 (MARKETWIRE) – (Other OTC: TRGD.PK and Frankfurt: T8N) Tara Gold Resources Corp. is pleased to announce that it has signed a definitive option agreement to acquire a 100% interest in the Picacho Gold Mine and production plant located within the Northern Sierra Madre Occidental Gold Belt 120 kilometers south of the United States Border, in Sonora State, Republic of Mexico.

The Picacho mine is comprised of 3,236 hectares of mining concession encompassing several areas of hydrothermal alteration. The project is 24km by haulage road from the town of Bacoachi, which is serviced by the electrical grid, a 1200m airport and a paved highway accessing the mining town of Cananea and state capital of Hermosillo.

Under the terms of the option agreement, Tara Gold Resources has the right to acquire a 100% interest in the property and plant by making payments to the vendors totaling $7,000,000 over a 5 year period.

Mr. Francis Biscan Jr., President of Tara Gold Resources stated, "Our strategy is to acquire high quality gold, silver, and mineral projects with near term production potential which also offer clear potential to expand the mine-able resource. Tara Gold is now poised to benefit from production cash flow from 3 of our projects."

Picacho has been intermittently mined by the current owners and includes an extensive processing facility that was operating at a rate of 250 tonnes per day. Shareholder value will be created by adding operating efficiencies, expanding daily throughput and operating days per month, along with expanding the existing resource.

About Tara Gold Resources Corp.

Tara Gold Resources Corp. is a precious metals exploration and development company with existing production. Management is focused strongly on building the mining production base and becoming a significant gold, silver and mineral producer. Tara gold continues to acquire advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: www.taragoldresources.com

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Contact Tara Gold Resources Corp., OTC: TRGD.PK, Frankfurt:T8N

Website: www.TaraGoldResources.com
E-mail: president@taragoldresources.com
Corporate Office: 630-462-2079
Investor Relations: 503-465-1983