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Jul 31, 2008 10:48:00 AM
CHICAGO, IL -- (MARKET WIRE) -- 07/31/08 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to announce the first gold doré has been poured at the Lluvia de Oro project in Sonora State, Mexico.
Tara Gold Resources signed an agreement with NWM Mining Corporation (formerly known as Columbia Metals Corporation), whereby NWM Mining can acquire 100% interest, subject to Tara's ongoing 20% Net Cash Flow interest from the processing plant, by making payments totaling $4,337,500, and issuing 1,000,000 shares to Tara Gold. NWM Mining is the operator of the project and provided this update in their news release of July 31, 2008.
The Lluvia de Oro project is located near Santa Ana in Sonora State, just south of the US border with Mexico and contains 43-101 compliant gold resources. A copy of the 43-101 report is available at http://TaraGoldResources.com.