CHICAGO, September 7, 2006 (MARKETWIRE) – (Other OTC: TRGD.PK and Frankfurt: T8N) Tara Gold Resources Corp. is pleased to announce the completion of an independent technical report for the Las Minitas Property portfolio. The National Instrument 43-101 Qualifying Property Report was delivered to Tara by Michael Sandidge, P. Geo., a qualified person, as defined under National Instrument 43-101.
Modeling, based on historical results from 36 reverse circulation drills, indicates that 102 million ounces of silver and 120,000 ounces of gold are present within the Central, El Negro, and Northern zones of Las Minitas. All resource estimates for the property are historical in nature, as they are based on work completed prior to the implementation of NI 43-101 (2001), and therefore should not be relied upon. The Company will focus its initial efforts on the validation of the previous exploration. A complete copy of the Property Report is available at http://www.TaraGoldResources.com
The property report recommends that additional work should be undertaken to increase the level of knowledge of mineralization at Las Minitas and to advance the known mineralization from the previous drilling program to a level of confidence compliant to the definition of "Measured Mineral Resource", according to CIM. The report recommends geological mapping, geochemical surveys, surface sampling, and in-fill drilling.
Mr. Francis Biscan Jr., President of Tara Gold Resources stated; "As with every project, we take a systematic approach to advancing our knowledge of the property before prioritizing it within our growing portfolio. With three properties going into production, our current priority continues to be cash flow from production. We are reviewing the recommendations made in the report and will consider all of our options to confirm historical results, mineralization estimates, and test a number of the untouched targets found on the property."
Cautionary Note The tonnages, grades, assays, drill intercepts, production figures and other technical data, with the property report, are taken from historical records prior to the implementation of NI 43-101. While the data is believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present. The data source for the Las Minitas property is largely the 1995 Report by D.B. Peterson. Tara Gold is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
About Michael H. Sandidge, P.Geo. Michael Sandidge is a qualified person, as defined under National Instrument 43-101. He has a Masters degree in Geological Sciences from the University of Texas at El Paso and has participated in seventeen professional publications and presentations before scientific societies focusing on tectonics, structural geology, metallogenesis, and paleontology. He also has extensive experience in Mexico and is familiar with historical and current work in the region. Michael does not have any relationship with Tara Gold or its affiliates.
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. For more information, please visit the Company's web site at: www.taragoldresources.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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: 630-462-2079
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