TNR Gold's Loz Azules Project in Argentina Joins Incentive Regime, Boosting Prospects for Feasibility Study and Construction Decision

TNR Gold Corp's executive chairman Kirill Klip welcomed the inclusion of the Los Azules copper project in Argentina's Large Investment Incentive Regime. Klip stated that the regime provides crucial legal and fiscal stability, paving the way for the upcoming feasibility study and potential construction decision. The regime offers benefits such as a reduced tax rate, reduced dividend tax rate, and favorable foreign exchange regime. Klip emphasized that these benefits are essential for the project's economic assessment and stability, allowing for a 30-year plan. The feasibility study is expected to include increased mineral resources and the project's potential to become even larger. Financing is also coming together, with the IFC supporting the project.

TNR Gold Corp's executive chairman, Kirill Klip, has expressed optimism following the inclusion of McEwen Copper's Los Azules copper project in Argentina's Large Investment Incentive Regime. Klip stated that the regime provides crucial legal and fiscal stability, paving the way for the upcoming feasibility study and potential construction decision. The regime offers benefits such as a reduced corporate tax rate to 25%, a reduced dividend tax rate, and favorable foreign exchange conditions. Klip emphasized that these benefits are essential for the project's economic assessment and stability, allowing for a 30-year plan.

The feasibility study is expected to include increased mineral resources and the project's potential to become even larger. Financing is also coming together, with the IFC supporting the project. The Los Azules project, with 10.9 billion pounds of copper (indicated) and 26.7 billion pounds (inferred), is one of the world's largest copper projects. The inclusion in the regime is a significant milestone for TNR Gold's green energy metals, royalty, and gold business, as it provides the certainty necessary for mining projects.

The regime's benefits, such as a 30-year stability plan and favorable conditions for foreign exchange and export operations, will strengthen the economics of the Los Azules project. Fundamental Research has increased TNR Gold’s share price target to $0.30 and estimated a potential $10 million per year in cash royalty generation when the project reaches production. Klip added that the company has already delivered a 100% plus increase in share price this year and aims to double its market valuation again.

The project's design advances Los Azules toward construction readiness within a framework that reduces its environmental footprint. Project risk has been further reduced through a strategic collaboration agreement with IFC to potentially lead debt financing and additional funding proposals for infrastructure and construction. With these results, Los Azules is positioned to become a supplier of responsibly produced copper, critical to the global energy transition towards a low-carbon sustainable future.

The feasibility study confirms Los Azules as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. The project design provides a 72% lower mine-to-metal carbon intensity than the industry average, 100% renewable power, and 74% less water use than conventional milling. The project is designed to be carbon-neutral (Scopes 1 & 2) by 2038.

The inclusion of Los Azules in the Large Investment Incentive Regime provides a strong foundation for the project's future growth and development. The regime's stability and favorable conditions are expected to attract further investment and support the project's long-term success.