Tournigan Update

Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) Tournigan is pleased
to announce that it has signed a binding agreement with Mawson Resources
Ltd. respecting the transactions with Mawson described in its news
release dated December 7, 2011. This binding agreement supersedes the
letter of intent described in that release.

Under the agreement, Tournigan will acquire all of Mawson Resources
Ltd.'s right, title and interest in and to seven uranium exploration
projects located in Sweden and Finland for total consideration of
53,639,848 common shares of Tournigan. Mawson will distribute the
Tournigan shares on a pro rata basis to its shareholders pursuant to a
plan of arrangement prior to April 30, 2012. Until then, Mawson has
agreed not to exercise the voting rights attaching to the Tournigan
shares.

Tournigan has received approval from the TSX Venture Exchange to close
the private placement with an affiliate of AREVA and expects to do so in
early January 2012 concurrent with entering into a technical services
agreement with AREVA.

Further details respecting these transactions are contained in
Tournigan′s December 7, 2011 news release.

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,
Tournigan plans to diversify 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. For additional
information, please contact Ms. Doris Meyer at (604) 536-2711 or visit www.tournigan.com.

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.The
foregoing information may contain forward-looking information relating
to the future performance of Tournigan Energy Ltd. Forward-looking
information, is subject to certain risks and uncertainties, and actual
results may differ materially. These risks and uncertainties are
detailed from time to time in the Corporation's filings with the
appropriate securities commissions.

Tournigan Energy Ltd.

Doris Meyer, 604-536-2711

www.tournigan.com