Tournigan′s Prefeasibility Study Indicates Kuriskova Could be Among World′s Lowest Cost Uranium Producers

Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has received a
Preliminary Feasibility Study ('PFS?) on its flagship Kuriskova
high-grade uranium deposit located in Slovakia from its independent
consultant, Tetra Tech, Inc. (Tt), in Golden, Colorado.

Highlights of the PFS for Kuriskova:

• 
  Internal Rate of Return 30.8%; 1.9 year payback; $277 million Net
  Present Value (NPV) at an 8% discount rate (Pre-Tax, base case
  US$68/lb U₃O₈, US$15/lb Mo);
  
• 
  94% increase of Indicated Resource to 28.5 million pounds of U₃O₈
  since Tournigan′s June 2009 Preliminary Economic Assessment
  ('PEA?);
  
• 
  92% uranium recovery in PFS, increased from 90% in the PEA;
  
• 
  62% increase in the uranium grade to the process plant to0.408%U₃O₈ in the PFS from 0.252% U₃O₈
  in PEA;
  
• 
  26% lower life of mine operating costs in the PFS compared to the PEA.
  The PFS estimates US$22.98/lb U₃O₈ life of mine
  operating costs and US$16.68/lb U₃O₈ during the
  first 4 years of production. These are net of a molybdenum credit of
  about US$1.27 per pound of U₃O_8;
• 
  1.5 year decrease of preproduction construction period in PFS to 3
  years compared to 4.5 years in the PEA;
  
• 
  The project can be developed as an underground mine/processing
  facility with a very small surface footprint;
  
• 
  Kuriskova would utilize Best Available Technologies in the mining and
  processing operations. The uranium can be extracted using conventional
  alkaline (non-acid) processing; and
  
• 
  There are multiple exploration targets within the Kuriskova License
  area, with the potential to expand the resource base and extend
  project life.
  

'We are very pleased with these results. They demonstrate that the
Kuriskova project has the potential to be among the lowest cost uranium
producers in the world. The PFS not only illustrates the robust
economics of the Kuriskova project but also the competitive advantages
it has over other uranium projects as a result of its high-grade
resource and relatively low operating cost estimates.? said Dorian L.
(Dusty) Nicol, Tournigan′s president and chief executive officer.

'Our next step is, working with our strategic partner Areva, to begin a
Feasibility Study and Environmental Assessment Study that will continue
to define project parameters to a higher degree of confidence and allow
the permitting of the project to begin. The development of the Kuriskova
uranium project could provide Slovakia with a secure source of uranium
for approximately 30 years at its current consumption rate,? said Nicol.

Mineral Reserves and Resource Estimate

The PFS resource estimate is based on the report, 'Mineral Resource
Update Kuriskova Uranium Project East-Central Slovakia? prepared by
Tetra Tech, Inc. dated June 9, 2011 (the Independent Qualified Person
for this report was Dr. Rex Bryan of Tetra Tech) as summarized in the
following table:

* Molybdenum resource numbers represent molybdenum associated with
uranium resource blocks above a 0.05%U cutoff.

Based on estimated Indicated Resources, mineral reserves (including
dilution tonnage of 5% at a grade of 0.03% U) were estimated at 2.5
million tonnes at an average grade of 0.346%U which was determined to
provide an underground mining rate of about 210,000 ore tonnes per year
at an economic cutoff of 0.13% U₃O₈ for
approximately 13 years. No Inferred resources were used in reserve
calculation or mine plan.

Resource Expansion Potential

Tournigan is planning an exploration program to continue testing
multiple uranium exploration targets within the Kuriskova license area.
Exploration success would likely add resources that could be accessed
from the planned Kuriskova infrastructure. Tournigan will conduct
further step-out exploration drilling where the high-grade
mineralization is open along strike and at depth.

Mining and production

The PFS states that the project would be best developed as an
underground mine using conventional mining and processing methods. The
mine plan is based on underhand drift and fill mining utilizing a
roadheader as the primary production method and assuming an external
dilution (over break) of 5% at a grade of 0.03% U.

The project would be designed with an underground processing facility.
As a result of the mining and processing facilities being underground,
the project can be developed with a very small surface footprint. The
uranium can be extracted using conventional alkaline (non-acid)
processing. Kuriskova would utilize Best Available Technologies in the
mining and processing operations.

Metallurgical test results completed at Hazen Research in Golden,
Colorado indicate that uranium and molybdenum recoveries can be achieved
using conventional alkaline leaching and precipitation circuits
producing separate uranium (yellowcake) and molybdenum concentrates.

The average annual production of uranium as a U₃O₈
concentrate would be approximately 786 tonnes and 84 tonnes of
molybdenum in molybdenite with a life-of-mine U₃O₈
production of 20.9 million pounds (9,500 tonnes). Project economics in
the base case analysis are based on these figures.

Metallurgy and Processing

Metallurgical test results completed at Hazen Research in Golden,
Colorado indicate that uranium and molybdenum recoveries of 92.0% and
86.8%, respectively, can be achieved using conventional alkaline
leaching and precipitation circuits producing separate uranium
(yellowcake) and molybdenum concentrates.

Financial Analysis

The base case uses forward prices of US$68/lb U₃O₈
and US$15/lb Mo respectively.

Initial capital costs are US$225 million (including owner′s costs and a
contingency of US$31 million). During the life of mine there will be
sustaining capital requirements of about US$71 million.

Total operating costs are estimated to be US$22.98 per pound of U₃O₈
over the mine life. During the first 4 years of production, total
operating costs are estimated at US$16.68 per pound of U₃O₈.These costs are net of a byproduct credit for molybdenum of about
US$1.27 per pound of U₃O₈.

In addition to adding value to the Kuriskova project, molybdenum has
been defined as a Class 2 strategic metal by the European Union.
Royalties payable to the government in this base case will add about
US$2.89 per pound of U₃O₈.

The base case internal rate of return is estimated at 30.8% on a pre-tax
basis with a 1.9 year payback after the start of production on an
estimated initial capital cost of US$225 million including owner′s costs
and a contingency of US$31 million.

At an 8% discount rate, the pre-tax NPV is estimated at US$277 million.
The project is financially sensitive to U₃O₈ price
and amount of uranium produced per year. This is directly related to the
tonnage and grade mined and processed annually as well as to plant
recovery.

The following tables illustrate the sensitivity of the project to
changes in U₃O₈ price and discount rate used in
the NPV calculation:

PFS Technical Report

A PFS Technical Report will be filed on SEDAR within 45 days.

Qualified Person

This release has been reviewed and approved by Dr. Rex Bryan and Dr.
Richard W. Jolk, P.E. of Tetra Tech of Golden, Colorado both independent
Qualified Persons as defined in NI 43-101. This release has also been
reviewed and approved for Tournigan by Dorian L. Nicol, President and
CEO of Tournigan, and a Qualified Person as defined in NI 43-101.

About Tournigan

Tournigan is a uranium exploration and development company. The
company′s flagship asset is the Kuriskova uranium deposit in Slovakia,
among the highest grade uranium deposits in the world. Slovakia
currently has four nuclear reactors generating half of its electricity,
with two more reactors planned or under construction.

With the anticipated acquisition of uranium properties from Mawson
Resources Ltd., Tournigan is diversifying geographically by acquiring
projects in Sweden and Finland, also members of the European Union and
countries which rely on nuclear generated electricity. In Sweden, ten
nuclear reactors generate over 40% of the country′s electricity. Finland
currently has four operating reactors generating about 28% of the
country′s electricity. A fifth large nuclear plant is under construction
in Finland with plans firming for a sixth. Tournigan is committed to
safe and sustainable exploration and mine development.

TOURNIGAN ENERGY LTD.

'Dusty Nicol'

Dorian L. (Dusty) Nicol, President and CEO

For further information please contact: Doris Meyer, at ?(604) 536-2711,
or visit www.tournigan.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement:

This news release contains forward-looking statements that are based on
the Corporation's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan',
'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate',
'suggest', 'indicate' and other similar words or statements that certain
events or conditions 'may' or 'will' occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Corporation disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.

Notice to US investors:

This press release uses the terms 'indicated resources' and 'inferred
resources', which are calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. We advise investors that while those
terms are recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission do not recognize them. U.S. investors
are cautioned not to assume that any part or all of mineral deposits in
these categories will ever be converted into reserves. In addition,
'Inferred resources' have a great amount of uncertainty as to their
existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or pre-feasibility studies, except in certain
exceptional cases. U.S. investors are cautioned not to assume that part
or all of an inferred resource exists, or is economically or legally
minable.

Tournigan Energy Ltd.

Doris Meyer, 604-536-2711

www.tournigan.com