Jan. 18, 2011 (Filing Services Canada) -- Tournigan Energy Ltd. (TVC - TSX Venture, TGP - FWB), is mobilizing two drill rigs to the Kuriskova project. The first drill rig has arrived at site and began drilling on January 14. This rig will focus initially on infill drilling in the Main Zone of the Kuriskova deposit with the objective of upgrading resources from the Inferred to the Indicated category. The second rig will arrive at site shortly and, as weather conditions allow, will begin drilling hydrogeological and geotechnical test holes as part of the ongoing Prefeasibility Study being undertaken by Tetra Tech. A third drill rig is being mobilized to begin step out drilling at the Novoveska Huta uranium deposit; it is expected to begin drilling on or about January 20.
Metallurgical test work by Hazen Research and engineering studies in support of the Kuriskova Prefeasibility Study are progressing. Tetra Tech has begun working on an update to the Kuriskova resource estimate that will incorporate drilling and geologic work completed since the last resource estimate was published in May 2010. It is expected that this updated resource estimate will be completed late in the first quarter or early in the second quarter of 2011.
As part of completing the Kuriskova Prefeasibility Study, Tournigan will continue its surface water sampling program, meteorological and air quality data collection, and undertake geotechnical drilling and test work, soil sampling/analysis and environmental data collection for completion by the fourth quarter of 2011.
In addition to advancing the Kuriskova Prefeasibility Study, Tournigan during the next several months plans to:
* Resume exploration drilling with the objective of increasing the Kuriskova uranium resource. This will include drilling targets identified adjacent to Zone 45 and other high grade zones;
* Begin exploration on satellite exploration targets within the Kuriskova license;
* Commission Tetra Tech to prepare an NI 43-101 compliant resource estimate for the Novoveska Huta uranium deposit. This is expected to be completed and published during the third quarter of 2011; and,
* Continue exploration on its other prospective uranium licenses in Slovakia, following up on targets identified during initial work.
"Tournigan has the cash and technical team required to implement these work programs effectively and efficiently," said president and CEO, Dorian L. (Dusty) Nicol. "We look forward to adding value to our projects during the next year and are encouraged by the heightened investor interest in the global uranium market." At December 31, 2010, Tournigan's cash position was approximately $16.4 million.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Corporation's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Unit 1 - 15782 Marine Drive,
White Rock, BC Canada V4B 1E6
Tel: (604) 683 8320
Fax: (604) 683 8340
Source: Tournigan Energy Ltd. (TSX-V: TVC) http://www.tournigan.com
Maximum News Dissemination by Filing Services Canada Inc. *