TriMetals Mining Inc. Announces Name and Stock-Symbol Change, Board and Management Changes, and Start of Drilling at Gold Springs
Vancouver, British Columbia – October 10, 2019
TriMetals Mining Inc. (TSX: TMI, US OTCQB: TMIAF) (the “Company” or “TMI”) is pleased to announce certain changes to reflect the Company’s focus on the Gold Springs project in mining friendly Nevada and Utah, following the divestiture of the Escalones copper project and the receipt of payment from Bolivia of the arbitration award in relation to the Malku Khota silver-indium project.
Name Change and Stock Symbol Change
The Company intends to change its name to Gold Springs Resource Corp. The Company believes that the new name more accurately reflects the Company’s focus on the exploration and development of the gold resources at Gold Springs. The Company also intends to change the stock symbol on the TSX to “GRC” and on the US OTCQB, to be consistent with the new name of the Company.
The name and stock symbol changes are expected to become effective in the upcoming weeks.
Board and Management Changes
The Company is pleased to announce that Horst Daspersgruber has joined the board of directors. Mr. Daspersgruber is the President of Kevel Consulting SA, a Swiss corporation which exercises control or direction over 10.1% of the Company’s common shares. Mr. Daspersgruber is a Swiss financial consultant, primarily advising and managing international investment funds. He has over 30 years of experience in stock markets, derivatives, financial engineering and arbitrage. Matias Herrero, President and CEO of the Company commented “We are pleased to have Horst joining the board of directors of the Company. Horst brings to TMI extensive European capital markets experience, valuable for the Company’s investor outreach efforts in Europe”.
The Company also announces that Tina Woodside has been appointed as chair of the Company’s board of directors, replacing Robert van Doorn, who will continue as a director of the Company.
Ms. Woodside is one of Canada’s leading corporate and securities lawyers and one of Gowling WLG (Canada) LLP’s two firm managing partners. Ms. Woodside has 25 years’ experience advising in corporate finance, M&A and corporate governance matters, with a particular focus on the natural resources and mining sectors.
Matias Herrero, President and CEO of the Company stated “We are very pleased with the appointment of Tina to lead our board of directors during the next phase of the Company. Tina has been a director of TMI since its inception in 2006. Her commitment for excellence and strong governance, her business acumen and ability to bring effective, creative and practical solutions, are going to be very valuable for the Company from her new role”.
Mr. van Doorn chaired the board of the Company since 2015 during crucial times in which the Company settled the arbitration with Bolivia and completed the divestiture of the Escalones copper project in Chile. Mr. van Doorn, who has 40 years of significant mining industry experience will continue as a director of TMI.
The Company also announces that with the divestiture of the Escalones copper project in Chile to Wealth Copper, Felipe Malbran no longer serves as the Company’s Vice President of Exploration – South America, effective September 30, 2019.
Start of Drilling at Gold Springs
The Company is pleased to announce that the new drill program at the Homestake target started on Sunday October 6, 2019. First drill results are expected in December 2019. The Homestake target is located on the Nevada side of the Gold Springs project, 700 meters east of TMI’s Grey Eagle resource, and adjoining to the north to Newmont Goldcorp Corporation’s mining claims. You can find more information about the Homestake drill program in TMI’s press release dated September 19, 2019: https://www.trimetalsmining.com/investors/news/2019/placeholder/.
About TriMetals Mining Inc.
TriMetals Mining Inc. (TSX: TMI and OTCQB: TMIAF) is a growth-focused gold exploration company creating value through the exploration and development of the near-surface Gold Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A. Management has extensive experience in global exploration and the mining industry.
TriMetals Mining Inc. Contact:
Chief Executive Officer
Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“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 “shall”, “will”, “expected” “intends” “going to be” 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 risks more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company 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 the date hereof.