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Wednesday, November 19, 2008

Tonogold Resources, Inc. Sells Lease Interest in Nyac, Alaska Gold Project

Tonogold Resources, Inc. (Pink Sheets: TNGL) announces the sale of its Alaska assets and leasehold interest in the Nyac, Alaska Gold Project to Nyac Gold LLC.

The terms of the sale include cash and future consulting fees valued at approximately $563,420. Also, Tonogold has a retained a one-half percent net smelter royalty.

The Nyac Gold Project consists of 57,600 acres leased from Calista Corporation. Tonogold conducted exploration programs at Nyac in 2005 and 2006.

The lease assignment is subject to the approval of Calista Corporation.

Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California. The company also has a project office in Carson City, Nevada. For more information on the Company visit their website

Safe Harbor Statement Under the
Private Securities Litigation Reform Act of 1995

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, 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, 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.

SOURCE Tonogold Resources, Inc.

Company Codes: OTC-PINK:TNGL

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