The TSX Venture Exchange has accepted for filing an amended agreement dated July 13, 2011, with respect to Tournigan Energy Ltd.'s Nov. 27, 2008, with Fischer-Watt Gold Company Inc. whereby Fischer purchased the company's wholly owned subsidiary Tournigan USA Inc. The payment terms of the agreement have been amended such that the company will cancel Fischer's $600,000 (U.S.) debt in exchange for a conversion of the company's 30-per-cent carried interest in Tournigan USA's properties to a 2-per-cent net smelter royalty over any of Fischer's uranium properties in the Carbon, Sublette, Sweetwater and Fermont counties of Wyoming, as well as the Fall River county of South Dakota. This net smelter royalty applies to any properties currently held by Fischer as well as any properties that may be acquired in the future.

Fischer may repurchase half of the net smelter royalty within five years of the date of the amended agreement for $3-million (U.S.).