(Source: Marketwire)VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2008) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR)(PINK SHEETS:TRRXF) and Geocom Resources Inc. ("GOCM") are pleased to announce that the companies and BHP Billiton ("BHPB") have concluded the transfer of ownership of Iliamna (the "Property"), from BHPB to TNR. Under the Assignment Agreement, BHPB has agreed to transfer their ownership of Iliamna, a 30% undivided interest under the Property Agreement, such that TNR and GOCM shall hold 100% legal title to the Property.

TNR granted an option and GOCM earned a 51% interest in the Company's now 100% interest in the Lake Iliamna project's D Claims block and a 75% interest in the H claim block that together comprise the Iliamna project. TNR and GOCM have agreed to combine each Company's respective interest with BHPB's interest in order to consolidate ownership and facilitate future exploration and development activities.

To enhance the successful drill results achieved in 2003, 2004, and 2006 drill campaigns and to identify new drill targets in conjunction with available magnetic, resistivity, and chargeability data, a district-level geochemical sampling program has commenced. The Companies are utilizing sophisticated geochemical survey techniques that have proven successful at delineation of copper- gold anomalies elsewhere in Alaska and at the Pebble deposit. With the recent success at the Pebble deposit and attention paid to exploration potential of the area, TNR and GOCM are optimistic that value-added exploration efforts will aid delineation of drill targets to supplement the previously successful drilling, which encountered copper-gold mineralization in disseminated and veinlet form in intrusive rocks. The Companies are confident that additional work at Iliamna will provide shareholder value and garner additional interests from the industries' majors.

The Iliamna property is a claim in Alaska covering 412 sq km of land approximately 100km from the highly-visible Pebble deposit held by Northern Dynasty Minerals Ltd. The Pebble deposit contains an indicated mineral resource of 31 million ounces of gold and 18.8 billion pounds of copper, making it one of the world's largest deposits of its kind. Initial target definition at Pebble occurred in areas covered by glacial overburden and/or Tertiary volcanic rocks, as is the case at the Iliamna Project. In 2000, Rio Algom carried out several phased exploration programs including an airborne magnetic survey, reconnaissance geology, and IP/ Resistivity surveys. These surveys led to the successful identification of several geophysical anomalies, including the Iliamna Project.