CHICAGO, IL -- (MARKETWIRE) -- 07/02/07 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to announce that it has negotiated the full return of the La Millonaria Groupings from Gold & Silver Minerals Corp. Neither Gold & Silver Minerals Corp. nor Tara Gold Resources Corp. will hold any claim of gain or liability, now or in the future, regarding the option agreement and its mutual dissolution. All past payments of cash and shares will remain the property of Tara Gold.

Mr. Francis Biscan, Jr., President of Tara Gold Resources, stated, "We want to find a partner for La Millonaria that will make its exploration a priority from both a capital and strategic perspective. For this reason, we negotiated a full return of La Millonaria."

Tara Gold's near term goal for the project is to process the waste dumps at La Millonaria which contain an estimated 30,000 tonnes grading of 9.702 g/t gold and 23 g/t silver. A road is under construction to provide the ability to truck in the equipment necessary to build a production plant or ship the ore out to be processed elsewhere.

The road will also allow for efficient access to begin exploring the 20-30 meter wide, intensely silicified and stockwork veined, east-west trending structure. This structure can be traced on surface for a minimum distance of 600 meters, with additional workings present up to 2 kilometers along strike. Scattered prospects and adits are present along the structure and selective historical mining has reported recoveries of 10 g/ton gold on average. The structure at La Millonaria appears to be strongly mineralized and hosts the potential to significantly expand the current mineralized zone and merits further sampling and exploration to further quantify the distribution of precious metals.

About La Millonaria

The La Millonaria property consists of four mining concessions that total 875 hectares, including formerly producing gold mines. The property is located in SW Chihuahua in the Sierra Madre Occidental gold-silver belt where other gold/silver exploration projects are ongoing.

About Tara Gold Resources Corp.

Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, Pilar De Mocoribo and Las Minitas projects in Mexico. We continue to acquire other 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: http://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.
Website: www.TaraGoldResources.com
E-mail: president@taragoldresources.com
Corporate: 630-462-2079
Investor Relations: 317-218-0204
Investor Relations Website: www.sfpindy.com