TNR Gold Corp. (TSX-V: TNR) is a mineral exploration company actively pursuing a portfolio of gold, copper, and Rare Earth Element (REE) containing properties worldwide. Our primary focus is in exploration and development of our key ventures which are the Shotgun gold project in Alaska, TNR iron ore and REE projects in Soules Bay, Canada and our ongoing project generator in Argentina. The Argentine Los Azules project is held under the wholly-owned subsidiary Solitario Argentina S. A. ("Solitario"), we are currently moving forward with the litigation over some of the claims on the property while we continue to explore and identifying new quality prospective ventures globally. TNR's strategy is to strengthen its assets through partnerships with mid-tier and major companies, and establish long-term cash flow through royalty interests and project development.

1. Rare Earth Element Projects
Seabrook and Big Beaver House
July 2012

2. Rare Earth Elements
17 Elements on the Periodic Table
• 15 Lanthanides (La - Lu)
• Scandium
H • Yttrium He
1 2
Li Be B C N O F Ne
3 4 5 6 7 8 9 10
Sc
Na Mg 21 Al Si P S Cl Ar
11 12 13 14 15 16 17 18
Y
K Ca Sc Ti V Cr Mn Fe Co
39 Ni Cu Zn Ga Ge As Se Br Kr
19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
La Ce Pr Nd Pm Sm Eu Gd Tb Dy Ho Er Tm Yb Lu
Rb Sr Y Zr Nb Mo Tc Ru Rh Pd Ag Cd In Sn Sb Te 69 Xe 71
57 58 59 60 61 62 63 64 65 66 67 68 I 70
37 38 39 40 41 42 43 44 45 46 47 48 49
Light Rare Earths Heavy 51 52 53 54
50
Rare Earths
Cs Ba La-Lu Hf Ta W Re Os Ir Pt Au Hg Tl Pb Bi Po At Rn
55 56 57-71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86
Fr Ra Ac-Lr Rf Db Sg Bh Hs Mt
87 88 57-71 104 105 106 107 108 109

3. Rare Earth Elements - Applications
Modified from BGS REE report June 2010

4. 2008 REO Consumption
By Volume By Value
Other Ceramics
Ceramics
Other Catalysts 3% 3%
Catalysts Glass &
6% 6% Magnets Polishing 5% Magnets
6%
20% 21%
37%
32%
22% 18%
Phosphors 14%
7% Metal Alloys
Glass &
Polishing
Phosphors Metal Alloys
IMCOA – Kingsnorth 2010

5. Global Distribution of REEs
Reserves
Country Reserves
Other China (Tonnes)
China 36,000,000
Commonwealth of 19,000,000
22%
Independent States
37% United States 13,000,000
India 3%
Australia 5,400,000
6% India 3,100,000
Australia 48,000
Brazil
13%
19% Malaysia 30,000
United Other 22,000,000
States
Total: 99,000,000
Commonwealth of
Independent States
USGS Mineral Commodities Survey, Hedrick 2010

6. REO Production By Country
China Dominates
160000
World Production
140000 at 96.8% of Supply
120000
100000
Other
Tonnes REO
80000 Brazil
Russia
60000 USA
Malaysia
40000 India
China
20000
0
1998
1995
1996
1997
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
World Minerals Statistics Database, BGS

7. REE Demand Forecast
China Vs. Rest of World Robust 8-12%
Annual Growth
250,000
Rate Forecast
REO Demand - tpa
200,000
150,000
100,000
50,000
0
China Supply ROW Supply China Demand Adjusted Global Demand
IMCOA – Kingsnorth 2010

8. Primary REE Source - Carbonatite
• A Carbonatite is an
igneous rock
comprising at least
50% carbonate
minerals.
• Usually occur as
small plugs within
concentrically
zoned alkalic
intrusive
complexes.
• Greatly enriched in niobium,
rare-earth elements, barium,
strontium, phosphorus, and
fluorine Idealized carbonatite pipe (modified from
8 Jébrack and Marcoux, 2008)

9. Carbonatite REE Mine Example
• Production at the Niobec mine
began in 1976.
• Niobec mine has an excellent
history of reserve renewal over
30 years of operation.
• 29.5 million tonnes grading
0.68% Nb2O5 Produced
• Currently producing
approximately 7-8% of world
consumption.
• 23.5 million tonnes grading
0.59% Nb2O5 current
Measured & Indicated
Resources
9 (modified from Iamgold, 2009 43-101 Technical Report)

10. TNR Rare Earth Element Project Location
2 Projects in
Ontario,
Canada
Stable
Jurisdiction
Seabrook & Big Beaver House Properties
Underexplored REE Carbonatite Opportunities 10

11. Seabrook REE Property, Ont.
• 3 Claims - 512 Hectares
• 100 kms NE of Sault Ste. Marie
• Accessible year round, 10 km
from Forest Access Road leading
to Hwy. 129 and the Aubrey Falls
Power Generation Station
• Powerline Transects Claim Group
• Located within the Abitibi
Subprovince of the Superior
Province, Canadian Shield
• 1107 and 1109 Ma dating
11

12. Seabrook – Claim Map
•2011 Preliminary Exploration
Analyses confirms significant
historical REE grades
• Results from 22 geochemical &
mineralogical characterization
samples were consistent with
historical work
• 10 of the 22 samples contained
greater than 0.20% TREO + Y
•Locations provide an excellent target
for further mapping
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13. Seabrook– Aeromag Map
• Magnetic Bullseye Delineates
1.5 x 2 km Central Core to
Carbonatite Complex 1.5 km
• Reflects Magnetite Signature
• Survey has shown anomalous are
on eastern side of peninsula may
2 km
extend further into the centre that
was insicated by historical
mapping
13 From aeromagnetic map 2228G & 2229G (ODM-GSC 1963)

14. Seabrook – Economic Geology
• 1955: Bussineau, W.
Highest Nb values reported with
high radioactivity and magnetite;
Four grab samples grade
0.6, 1.5, 4.7 & 10.3% Nb2O5
La + Ce
• 1971: Canpac Minerals - Gunnex Ltd. Nb
3 areas of high Nb values observed Nb
Never Drilled Nb
• 1977: Thurston et al.
Sovite grab sample grading
0.47% Ce2O3 & 0.22% La2O3
*Only Ce and La analyzed
Indicates Significant
and Untested REE Potential
15 From Sage 1988

15. Big Beaver House REE Property, Ont.
• One of the largest Carbonatite
complexes in Ontario
• Rock types similar to REE deposit
of Molycorp in California and Bear
Lodge carbonate
• Accessible year round, nearby
infrastructure (power/water)
• Located within the Sachigo
Subprovince of the Superior
Province, Canadian Shield
• 1109 ± 61 Ma dating
• Predominantly Pyroxenite,
Ijolite and silicocarbonatite
16

16. Big Beaver House – Claim Map
• 11 Claims
• 2,688 Hectares
• 40 kms northeast of
Goldcorp’s
Musselwhite gold
mine
• 450 kms north of
Thunder Bay
17

17. Big Beaver House – Aeromag Map
• Magnetic Bullseye
Delineates 5 x 5 km
Carbonatite Complex
• Reflects Significant
Magnetite
• Almost Complete
Absence of Outcrop
• Low Marshy Ground
18 From aeromagnetic map 939G (ODM-GSC 1960)

18. Big Beaver House – Historical Drilling
Limited Drilling 5 Km
2,081 metres
• 1962
Many Lakes Exploration
7 holes – 977 m
• 1966
Teck Corporation 5 Km
7 holes – 915 m
• 1977
International Minerals &
Chemicals Corporation
5 holes – 189 m
*Residual Apatite
Phosphorous Target
19

19. Big Beaver House – Historical Drilling
High Grade Niobium Intersected
• M-4
3.05% Nb2O5 over 0.3m and
5.30% Nb2O5 over 1.7m
• T-8
2.92% Nb2O5 over 1.5m
• T-9
1.06% Nb2O5 over 2.0m
The Big Beaver House Complex
Was Not Tested for its REE Potential
20

20. Big Beaver House – 1987 OGS Samples
• Ontario Geological Survey
analyzed historic drill core
and confirmed significant
REE mineralization
• OGS (Sage 1982) reported
up to 3,200 ppm Nd+La+Ce
Indicates Significant
and Untested
REE Potential
21

21. Big Beaver House REE Project - Summary
• One of the largest ( 5x5 km )
Carbonatite complexes
• Excellent Model for REEs
• Underexplored
- Limited Historic Drilling
- REE Potential not tested
• Sampling of Historic Drill Core
Reveals Presence of
Significant REEs
Excellent Exploration
Target for REEs
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22. Disclaimer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this presentation.
Statements in this presentation other than purely historical
information, historical estimates should not be relied upon, including
statements relating to the Company’s future plans and objectives or
expected results, are forward-looking statements. This presentation
contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as
amended. Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company’s business, including risks inherent in
resource exploration and development. As a result, actual results
might vary materially from those described in this presentation.
Readers should verify any & all claims and do their due diligence
before investing in any securities mentioned. Investing in securities is
speculative and carries a high degree of risk.
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