Tonogold Resources, Inc. Announces Agreement With Pareto Capital

LA JOLLA, Calif., May 2, 2013 (GLOBE NEWSWIRE) -- Tonogold Resources, Inc. (OTC:TNGL) is pleased to announce that it has signed an agreement with Pareto Capital Pty Ltd. ("Pareto"), a West Australian based boutique venture capital and investment firm specializing in raising capital for the micro-cap and junior mining sector.

Under the terms of the agreement, Pareto will serve as lead manager for a private capital raise and provide general corporate advice and services.

Pareto is a privately owned enterprise whose key executives have raised over $200 million for companies associated with Mr. Mark Ashley, Tonogold's CEO elect. Further details of the capital raising and the formal appointment of Mr. Ashley will be announced in approximately two weeks.

For more information on Pareto Capital Pty Ltd. please visit their website

Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California. For more information on the Company visit their website

Safe Harbor Statement

This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc. that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, some of our managers lack formal training in the mining business, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our rights through leases and the Mining Law, changes to the Mining Law may increase the cost of doing business, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold and silver are commodities which have substantial price fluctuations, a drop in gold and/or silver prices could adversely affect future profitability and/or capital raising efforts, and mining can be dangerous and present operational hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

CONTACT: Mark Ashley Jeff Janda 858-456-1273 www.tonogold.comSource:Tonogold Resources, Inc.