The Goldstrike property consists of two mining leases covering areas of shallow historic open pits, separate unmined areas with thick gold drill intercepts, and untested structural and stratigraphic extensions. Lease terms are for ten years with an option for renewal, a total annual work commitment of $25,000, and annual bonus and advance minimum royalty payments.

Pre-modern mining at Goldstrike on high grade veins followed immediately after the 1904 discovery of a 28-pound gold nugget. Modern exploration began with Gold Resources, Inc in 1975. Disseminated gold deposits were announced in the 1980s by other companies, and mining soon followed. A series of twelve shallow open pits were mined by Tenneco and later USMX from 1989 to 1996 for a cumulative production of 280,000 ounces of gold.

Goldstrike's ores were mined from Tertiary conglomerates, Tertiary andesites and rhyolites, and Pennsylvanian limestone. The last phase of close-spaced exploration drilling at Goldstrike ended in the 1990's. Thick, shallow, apparently oxidized gold intercepts were encountered in close-spaced drilling during this last exploration phase beneath the southwestern slopes of Mineral Mountain. The best historic drill intercept at Mineral Mountain was reported to be 110 feet of 4.3 gpt Au (BR-21).

The Mineral Mountain gold mineralization occurs in a northwest-striking structural zone incorporating all of the above stratigraphic units and is open along strike and down dip. Tonogold's first priority at Goldstrike will be to verify the historic mineralized drill intercepts on the slopes of Mineral Mountain. Tonogold has acquired past exploration data on the areas of interest at Goldstrike and is preparing a summary report.

Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California. For more information on the Company visit their website www.tonogold.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts.