June 14, 2016, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI and TMI.B, US OTCQX: TMIAF and TMIBF), (the “Company”), recently reported (March 1, 2016 and May 3, 2016) on the potential for high-grade gold mineralization related to the historic Thor Mine area within the vicinity of the patented Talisman claim. TMI has now received approval for the exploration program in this area and anticipates trenching will start in the next two weeks. The trenches are designed to expose the vein systems in the Thor area which contain multi-gram samples as previously reported. Surface and drill samples from the Thor, Dee, Brown, and Lower vein systems have returned values as high as 23.35 g/t Au and 252.9 g/t Ag, with numerous samples in the +3.0 g/t Au range (PR March 1, 2016 and May 3, 2016). With this trenching program, TMI will be able to better understand these systems and potentially expose additional veining in areas of post-mineral cover.
Ralph Fitch, CEO stated “We are excited to initiate the program at Thor. The trenching should move rapidly with results following in a few weeks of completion. These results will be used to plan future drilling, with the purpose of developing a high grade resource that could become a starter-pit for the Project described in the PEA. We are so keen on this program because higher grade in the first year of operations has a significant positive impact on the already robust economics described in the PEA.”
In continuing efforts to evaluate the Thor target and design a drilling program, TMI submitted plans to conduct trenching activities in the Thor area to the Bureau of Land Management (BLM) Caliente, Nevada office. Working under the approved Plan of Operations (PR April 3, 2014) TMI has now received approval to conduct these trenching activities. A nesting bird survey needs to be completed prior to trenching, which is only expected to take a few days and subject to no nesting birds being located, the trenching program can then start with equipment expected on site within two weeks.
In addition to the Thor trenching program, we have the possibility of similarly exploring the other 11 high grade vein targets. The next target we will likely explore would be the historic Iris Mine site and surroundings. The Iris Mine site is located 1,000 metres east of the Grey Eagle resource in Nevada. Future press releases will provide further information on this target as our exploration program progresses.
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 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 www.sedar.com.
The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration – North America of TriMetals Mining Inc. and he has reviewed and approved the content of this press release.
Quality Assurance and Quality Control
Approximately 1.5 kg of material are sent to the laboratory for each sample collected. The laboratory includes duplicates of samples, duplicates of pulps, standards and blanks. The results of these check assays are reviewed prior to the release of data. All chip sample assays are also reviewed for their geological context and checked against field observations.
Assays were performed in Reno, Nevada by Inspectorate America Corporation Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30-gram sample with an AAS finish (FA430). All other elements were analyzed by the 30 element, 4 acid digestion ICP method (MA300). Over-limit assays of Au and Ag were analyzed by fire assay of a 30-gram sample with a gravimetric finish (FA530-Au/Ag)
Forward Looking Statements
Certain statements contained herein constitute “forward-looking statements”. Forward looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “continue”, “anticipates”, “will”, “may”, “should”, “could”, “target”, “future”, “potential”, “expect”, “possibility” and similar expressions. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the laboratory taking longer than expected to analyze trenching results; nesting birds being identified by the survey which could make certain areas off-limit to surface disturbance until August 2016; risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results, including the reliability of exploration results of previous companies; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; no nesting bird identified by the survey; the laboratory analyzing trenching results within their usual time frame; execution of the Company’s existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, TMI assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of June 14, 2016.
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