Tournigan^(TM) is a uranium exploration and development company with a portfolio in Europe that includes one of the highest grade known uranium deposits in the world outside of Canada's Athabasca Basin. The current resource at the company's flagship Kuriskova property in Eastern Slovakia is 28.5 million pounds U3O8 indicated contained in 2.3 million tonnes at 0.555% U3O8 and 12.7 million pounds U3O8 inferred contained in 3.1 million tonnes at 0.185% U3O8; cut-off of 0.05%U. In addition to the NI 43-101 compliant resource already delineated at Kuriskova, there is significant exploration upside in the surrounding licences, also controlled by Tournigan. These licences include the Novoveska Huta uranium deposit, where an NI 43-101 resource estimate was announced on October 17,2011, following confirmatory drilling of historic holes and additional exploration drilling.

In June of 2009, Tournigan announced the results of a positive Preliminary Assessment of the Kuriskova uranium deposit prepared by an independent consultant. The study revealed that the Kuriskova project has robust economic potential and could be developed using conventional mining and processing methods. It is estimated that project payback would be within approximately one-third of the projected mine life and production costs would be substantially below projected long-term sales prices. More details of the Preliminary Assessment are disclosed in the news release dated July 27, 2009

Slovakia, a member of the European Union since 2004, is economically and politically stable and has excellent infrastructure. The country has four operating nuclear reactors producing approximately 50% of its current energy needs. It currently has two new reactors under construction to be completed by 2013.

In October 2008, The Strategy of Energy Security of the Slovak Republic, a strategic document that will set the energy direction of the country until 2030, was approved by the Slovak government. It calls for the completion of two new nuclear reactors by 2013 and discusses the benefits of sourcing uranium domestically.