**All of the molybdenum resource is classified as Inferred because of the absence of molybdenum assays in historical data. For this same reason, not every uranium block in the resource is included in the molybdenum resource and therefore uranium and molybdenum resource tonnages do not correspond.A graphic showing the drill holes, underground workings and outline of resource zones can be found in the Appendix to this news release or can be viewed from this web link: http://www.tournigan.com/i/pdf/2011-10-17_NRM.pdf. The estimate was prepared by Ravi Sharma, Tournigan's Manager of Resources and Reserves, and has been reviewed, audited and approved by Tetra Tech, Inc. Tetra Tech, Inc. 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. Dr. Rex Bryan is Tetra Tech's Qualified Person (QP) for this report and is an independent Qualified Person as defined by NI 43-101. This estimate is prepared in accordance to National Instrument 43-101 and classified as Measured, Indicated and Inferred according to the “CIM Standards on Mineral Resources and Reserves”. A historical (not NI 43-101 compliant) P & Z3 (Slovak resource classifications, roughly analogous to Inferred) resource estimate prepared by former operator Uranpres (Jozef Daniel) in 2005 reported 19,970,000 pounds of uranium contained in 12 million tonnes at an average grade of 0.075% U 30 8 (cutoff grade 0.015% U 30 8) at Novoveska Huta (see Tournigan news release dated September 10, 2008). Drill core samples from 17 drill holes drilled by Tournigan were analyzed by ALS Vancouver, SGS Lakefield and the SGUDS Laboratory in Slovakia for chemical assay between 2006 and 2011. The assays were conducted 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. The 3D wireframe solids were created using Datamine studio software. Block models within these mineralized 3D wireframe solids were interpolated using ordinary kriging. The estimate was reviewed by Tetra Tech, Inc. Interpolation and NI 43-101 compliant resource classification parameters were reviewed by Tetra Tech, Inc.