Novoveska Huta

Novoveska Huta Uranium Deposit - Slovak Republic - 100% interest in licenses

At the western end of the Carpathian uranium belt, approximately 65 kilometres west of Kuriskova, is the Novoveska Huta deposit. The deposit was a historical uranium producer with an open pit and underground workings. A historic resource, from drilling completed between 1975 and 1985 reported the following:

Novoveska Huta Historical Uranium Deposit (Uranpres, DANIEL J. et al., 1986) Slovak P & Z-3 Resource Category⁽¹⁾
Uranium⁽²⁾ U₃0₈%	Tonnes	Uranium lbs U₃0₈
0.075	12,000,000	19,970,000

Plan Map Showing Novoveska Huta drill locations, previous underground workings
and historical resources

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In 2008, Tournigan reported drill results from 13 diamond drill holes totaling 6,325 metres on the deposit. The holes, drilled to depths of between 200 to 785 metres, were designed to twin historical holes and explore the deposit to the east. Highlights of the downhole radiometric logging include:

Hole	From	To	Length	eU3O8%
LH-NH-4	494.2	501.8	7.6	0.399
including	494.3	497.3	3.0	0.791
LH-NH-13	287.4	326.1	38.7	0.132
including	289.9	294.4	4.5	0.241
including	296.9	305.3	8.4	0.220
LH-NH-11	605.3	618.5	13.2	0.158
including	605.3	614.3	9.0	0.194
including	609.6	611.7	2.1	0.299
LH-NH-12 I*	690.2	696.4	6.2	0.157
LH-NH-12 II*	755.8	779.8	24	0.106
including	755.8	773.4	17.6	0.131
LH-NH-8	359.9	371.1	11.2	0.107
including	362.4	366.3	3.9	0.201
LH-NH-1	360.3	365.2	4.9	0.115
LH-NH-1	374.9	380.5	5.6	0.161
LH-NH-9	386.1	395.4	9.3	0.103

* Two intersections of LH-NH-12 are from
the same ore body truncated by a fault

Details of the 13-hole program are listed in Appendix B or may be viewed from this link: http://www.tournigan.com/i/pdf/GammaAppendixB.pdf

Cross section of drill Hole LH-NH-4 with 7.6m @ 0.399% e U308 (uranium mineralization shown in red)

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Next Steps

In 2009, Tournigan plans to re-evaluate the geologic model of the deposit to determine whether there is potential to improve the grade from that of the historic resource.

Longitudinal Projection showing uranium mineralization in red

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History

Tournigan acquired Novoveska Huta, consisting of 13 km² in a single exploration licence, in 2005. The property, once a producing mine with open pit and underground operations, was shut down in the early 1990's due to low uranium prices and the collapse of the former socialist economy. The previous owner completed underground development exceeding 5,500 metres on 5 vertical levels connected to an existing 600-metre deep shaft.

Geology

Uranium mineralization at Novoveska Huta is similar in style and character to that of Kuriskova, occurring along the contact of meta-volcanic rocks and underlying meta-sedimentary rocks. The mineralized horizon varies from 100-200 metres deep at the west, to 450-600 metres deep at the east.

(1) The Company has reviewed the above historical resource estimates and views them relevant. The historic exploitation of Slovak deposits in general and metallurgical test records acquired with the Company's deposits in particular suggests the reliability of the historical resource estimates. The Slovak category P & Z-3 is roughly analogous to the Canadian Institute of Mining, Metallurgy and Petroleum's definitions for Indicated and Inferred Resources, respectively. However, the Company has not done the work necessary to verify the classification of the resources and the resources are not classified according to CIM's Standards on Mineral Resources and Reserves Definitions. Investors are cautioned not to rely upon these estimates.

(2) Uranium metal (U) grades were converted to uranium oxide (U3O8) grades using a factor of 1.17924.

Dorian L (Dusty) Nicol, B.Sc. Geo, M.A. Geo., Tournigan's President and CEO, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained on this website.