Sale of Non-Core Assets

Sale of non-core assets, updated April, 2010

Kremnica Gold, Slovakia
On January 28, 2010, Tournigan Energy executed a share purchase agreement with Ortac Resources plc of London for Ortac acquire all of the shares of Kremnica Gold s.r.o and Kremnica Gold Mining s.r.o. the holder of the Kremnica gold deposit located in Slovakia. This new agreement supersedes a previous June 7, 2009 option agreement. On closing of the amendment agreement, Ortac will purchase and take possession of 100% of the Kremnica Shares for consideration of US$2 million to be paid in a combination of US$100,000 cash and a US$1,900,000 non-interest bearing promissory note that will be due for settlement upon Ortac completing a Public Listing (IPO) during 2010. Upon future production, Ortac will pay Tournigan US$3,750,000 in cash or in Ortac shares and a 2% net smelter return (NSR) royalty on gold and silver production. Ortac may buy back half the NSR granted to Tournigan by paying Tournigan US$ 1 million cash. For details, click here for the January 28, 2010 news release.

Dalradian Gold, Northern Ireland (Curraghinalt gold project)
On September 30, 2009, Tournigan announced the sale of its Curraghinalt gold project in Northern Ireland to SA Resources, Ltd. The Curraghinalt project was previously the subject of an option agreement with C3 Resources (see news release dated December 23, 2008) which subsequently assigned its rights under the option agreement to SA Resources. The terms of the sale are: SA Resources will pay Tournigan an initial payment of C$2.5 million on or before October 26, 2009. On making this payment, SA will own 100 percent of the shares of Dalradian Gold Ltd., the Northern Irish company that holds the Curraghinalt gold licenses; and SA Resources will provide a secured promissory note to Tournigan for C$3 million which shall be due and payable on or before December 31, 2009. For details, click here for Sept. 30, 2009 news release.

TUSA, United States
On March 2, 2009 the Company completed the sale of its wholly-owned subsidiary TUSA to Fischer-Watt Gold Company, Inc. Tournigan retained a 30% carried interest in respect of each TUSA property up to the completion of a feasibility study for any project encompassing any such property. For details, click here for the March 2, 2009 news release.