Tonogold Resources, Inc. announced that it has entered into an agreement with well-respected and highly successful mining executive, Mark Ashley. Under the terms of the Agreement, Mr. Ashley has agreed to assume the role of CEO of the Company following the completion of a capital raising. Mr. Ashley has spent over 30 years as a senior executive with a number of successful listed mining and exploration companies, with the past 20 years based in Western Australia.

Mr. Ashley held the role of CEO of Canadian listed LionOre Mining International Ltd,. Mr. Ashley also held the position of CEO of Kagara Ltd. and arranged the company's IPO on the Australian Stock Exchange in 2000 and led the company through the development and implementation of growth focused strategies including a number of successful acquisitions, in becoming a significant zinc and copper producer in Northern Queensland in Australia.