Jul 9 2014
TriMetals Mining Inc. (the "Company") announces the filing of an Amended Preliminary Economic Assessment for the Gold Spring Project (the "Amended Report"). The Amended Report restates the resource estimate for Gold Springs and focuses on the results of the base case preliminary economic assessment (the "PEA") which remained unchanged.
The Measured Resource at the Grey Eagle area was re-categorized as Indicated Resource resulting in the Indicated Resource increasing by the same amount as the Measured Resource decreased. The amount of resource being re-categorized was 3,337,000 tonnes @ 0.64 g/t Au and 7.1 g/t Ag for a contained 69,000 ounces of gold and 767,000 ounces of silver using a cut-off grade of 0.20 Au g/t. This equates to 82,000 oz AuEq* @ 0.77 g/t AuEq*.
The PEA has been amended from the "Preliminary Economic Assessment of the Gold Springs Property, Utah/Nevada, USA" prepared for TriMetals Mining Inc. dated April 30, 2014. The amendment did not have an impact on the before and after tax net present values and internal rates of return of the project.
The entire Amended Report containing the mineral resource estimate and PEA can be viewed under the Company's profile on SEDAR or on the Company's website at: www.trimetalsmining.com.
* Gold equivalent was calculated using a gold/silver ratio of 57.14.
Qualified Person
The information in this news release was derived from the Amended Report, authored by Lane and Associates, Kurt Katsura and Deepak Malhotra. Lane and Associates prepared the mineral resource estimate and PEA in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). Ms. Terre Lane, President of Lane and Associates is a "qualified person", as defined in NI 43-101, is "independent" of the Company, as defined in NI 43-101, and has reviewed and approved the technical information regarding mineral resource estimate and PEA in this release. The Amended Report supporting the mineral resource estimate and PEA was filed on SEDAR on July 8, 2014.
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile; and realization of value from the expropriated Malku Khota project in Bolivia through an arbitration process.
The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.
The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and the common shares and Class B shares also trade on the OTCQX market under the symbol "TMIAF" and "TMIBF". Additional information related to TriMetals Mining Inc. is available at: www.trimetalsmining.com and on SEDAR at: https://www.sedar.com/homepage_fr.htm