Tournigan Increases Indicated Resource At Kuriskova By 39% To 28.5 Million Pounds Of U3O8

Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Pink Sheets: TVCFF) has updated its resource estimate for the Kuriskova uranium deposit in Slovakia. This NI 43-101 compliant updated estimate increases the amount of uranium contained in the Indicated Resource by 39% to 28.5 million pounds of U 3O 8 and increases the overall size of the deposit. Tetra Tech, Inc., the firm that is conducting the ongoing Prefeasibility Study on Kuriskova, has reviewed, audited and approved the updated resource estimate.

Highlights of the updated estimate include:
  • About 7.9 million pounds of U3O8 have been added to the Indicated Resource category, increasing the Indicated Resource by 39% to 28.5 million pounds of U3O8;
  • Overall the uranium oxide contained in the Kuriskova deposit has increased by 3.1 million pounds of U3O8 and now comprises 28.5 million pounds at 0.555% U3O8 in the Indicated Resource and an additional 12.7 million pounds in Inferred Resource at 0.185% U3O8; and
  • Kuriskova remains one of the highest grade known uranium deposits in the world outside of Canada’s Athabasca Basin.

"We are confident that this Indicated Resource is of sufficient size and grade to be the basis of a Reserve for the Kuriskova Prefeasibility Study, which we expect to complete around the end of this year,” said Dorian L. (Dusty) Nicol, Tournigan’s president and CEO. “We expect the increase in high-grade resource to have a positive effect on overall project economics as compared to our June 2009 Preliminary Assessment (Scoping Study).

"We emphasize that we believe there remains significant exploration potential to increase the size of the Kuriskova resource both immediately adjacent to the current resource and in the surrounding exploration licence. This new resource estimate also continues to demonstrate the presence of a significant amount of molybdenum within the uranium resource, which could represent a significant by-product credit."

The following tables summarize the current and previous resource estimates:

Current Resource April 2011:
 
Kuriskova Resource Estimate April 2011 -- Cut-off 0.05%U
  U%   Tonnes (000)   %U3O8   U3O8 lbs (000)   Mo%   Tonnes (000)   Mo lbs (000) *

Total Indicated (Main Zone,Hanging wall zoneand Zone 45 )
0.471   2,328   0.555   28,487   .065   2,301   3,312

Total Inferred (Main Zone,Hanging wall zoneand Zone 45 )
0.157   3,099   0.185   12,664   .033   2,996   2,185

* Mo resource numbers represent molybdenum associated with uranium resource blocks above a 0.05%U cutoff

Previous Resource (February 2010):

 
Kuriskova Resource Estimate March 2010 -- Cut-off 0.05%U
    U%   Tonnes (000)   %U3O8   U3O8 lbs (000)   Mo%   Tonnes (000)   Mo lbs (000) *

Total Indicated (Main Zoneand new Zone 45 )
  0.484   1,631   0.571   20,539   0.08   1,564   2,760

Total Inferred(Main Zone, new Zone 45and HW Zones)
  0.194   3,481   0.228   17,528   0.032   3,417   2,442

A complete table of the new resource estimate can be found in Appendix A to this news release or by visiting Tournigan's web site from this web link: http://www.tournigan.com/i/pdf/20110426-Appendix-A.pdf.

A graphic showing the changes in outlines of the resource zones can be found in Appendix B or can be viewed from this web link: http://www.tournigan.com/i/pdf/20110426-Appendix-B.pdf.

The updated estimate incorporates the results of 18 diamond drill holes totaling 4,548 metres that were drilled since the last resource estimate previously disclosed in a news release dated March 24, 2010. The updated estimate also reflects enhanced understanding of Kuriskova geology which has allowed more detailed structural modeling than was done in the past. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, and reviewed, audited and approved by Tetra Tech, Inc., who is preparing an independent NI 43-101 compliant Technical Report which will be filed on SEDAR within 45 days of the date of this news release. Mr. John W. Rozelle, P.G., is Tetra Tech, Inc.'s Qualified Person (QP) for this updated report and is an independent Qualified Person as defined by NI 43-101.

Drill core samples are analyzed by ALS Chemex in Seville, Spain for chemical assay, under Tournigan's strict Quality Assurance/Quality Control protocols. Interpretation and outlining of mineralization was conducted section-by-section by incorporating geological, structural and assay information for each geological domain. The 3D wireframe solids of the previous resource estimate dated March 24, 2010 were updated with infill holes for the Main Zone South and new wireframe solids were created for Zone 45 based on step-out drill holes. The detailed structural interpretation was carried out for the deposit and structures controlling grades were modeled and incorporated; these were reviewed by Tetra Tech. Interpolation and NI 43-101 compliant resource classification parameters were reviewed by Tetra Tech.

Ravi Sharma, MAusIMM, Tournigan's manager of resources and reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. Tetra Tech, Inc. has also reviewed and approved the technical content of this news release.

About Tournigan

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. “Dusty Nicol”Dorian L. (Dusty) Nicol, President and CEO

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.

Cautionary Statement:

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.

Notice to US investors:

This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in certain exceptional cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.

Copyright Business Wire 2010

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