Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) is pleased
to announce receipt of final metallurgical reports following the
processing of its maiden Halfmile Mine 30,000-tonne toll-milling
run through Xstrata's Brunswick-12 Processing Plant. A detailed
report by Trevali's metallurgical consultant, Holland and Holland
Consultants, states that Halfmile mineralization exhibits superior
flotation characteristics and use less reagent to produce
concentrates of similar to slightly superior quality to those
traditionally produced in the Bathurst Mining Camp.
The initial 30,000-tonne Halfmile mineral processing run
occurred over a 4-day period and the results demonstrate a steady
improvement with time as the various processing circuits achieved
steady-state and the operators obtained a better understanding of
the new mineral type (Table 1 & Figure 1).
Table 1: Initial Halfmile Concentrate Grades and Recoveries at
Brunswick-12 Mill
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Grades Recoveries(ii)
------------------------------- --------------------------------
Ag Au
Concentrate Zn% Pb% Cu% g/t g/t Zn% Pb% Cu% Ag% Au%
--------------------------------------------------------------------------
(i)Zinc 53.08 2.57% 0.46% 80 0.26 86.16 - - - -
---------------------------------------------------------------------------
Lead 4.8% 45.84 0.69% 681 1.61 - 58.62 - 39.24 -
---------------------------------------------------------------------------
Copper 2.78% 7.42% 26.64% 504 3.14 - - 62.76 7.72 N/A
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Assays after Xstrata Zinc-Brunswick Mine and SGS Canada Inc. labs.
(i) Note, the Brunswick-12 processing circuit is designed to produce a Bulk
concentrate (low-value product) - minor Bulk concentrate was produced and
was of sufficiently low quantity and high quality that it can be blended
into the Zinc concentrate to produce a saleable product. (ii) Final run
recoveries.
The initial milling run focused on zinc recoveries, Trevali's
principal product, which has achieved nameplate recoveries rates
over the four-day period. A larger, 40,000-50,000 tonne milling
campaign of stockpiled feed is on-track for mid-June and will
continue to optimize and establish operating parameters for
Halfmile mineralization, specifically zinc regrind and increased
by-product recoveries including lead liberation and pyrite
suppression studies.
To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/TVfigure1.pdf
"It goes without saying that we are extremely pleased with the
positive metallurgical results from our Halfmile mineralization.
Given the complex nature of the mineralization in the Bathurst Camp
it is a testament to the world-class skill set and professionalism
of Xstrata's Mill team that they could produce such quality
concentrates on a new mineral type, over a compressed milling
period, utilizing a process flowsheet designed for a different
deposit and all this using a mill not optimally-sized for our
mineralization," stated Dr. Mark Cruise, Trevali's President and
CEO. "Based on these results we are confident that additional
metallurgical optimization is possible short-term at Brunswick-12
and more importantly longer-term once we finalize the acquisition
of the more suitably-sized and state-of-art Caribou Milling
complex."
To view Figure 2 please click on the following link:
http://media3.marketwire.com/docs/TVfigure2.pdf
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals producer with operations
in Canada and Peru - the Halfmile and Santander mines respectively.
In Canada, Trevali owns the Halfmile zinc-lead-silver mine and
Stratmat polymetallic deposit, and has entered into a definitive
agreement to acquire the Caribou Mine and Mill, all located in the
Bathurst Mining Camp of northern New Brunswick. The Company also
has the past-producing Ruttan copper-zinc mine in northern
Manitoba. Production from the Halfmile mine commenced in early 2012
and is ramping up to the planned production rate of
2,000-tonnes-per-day.
In Peru, the Company has the Santander zinc-lead-silver mine and
the former-producing Huampar silver mine, both located in the
Central Peruvian Polymetallic Belt. Mine commissioning is
anticipated to commence at the Santander operation in late-2012
with ramp up to full 2,000-tonnes-per-day production to follow
shortly thereafter. Additionally through its wholly-owned
subsidiary, Trevali Renewable Energy Inc., Trevali is undertaking a
significant upgrade of its wholly-owned Tingo run-of-river
hydroelectric generating facility along with transmission line
upgrades and extensions to allow, in addition to supplying power to
the mining operation on the property, the potential sale of surplus
power into the Peruvian National Energy Grid.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). Warrants to purchase common shares of Trevali are listed on
the TSX (symbol TV.WT). For further details on Trevali, readers are
referred to the Company's web site (www.trevali.com) and to
Canadian regulatory filings on SEDAR at www.sedar.com.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a
qualified person as defined by National Instrument 43-101, has
supervised the preparation of the scientific and technical
information that forms the basis for this news release. Dr. Cruise
is not independent of the Company, as he is an officer and
shareholder.
On Behalf of the Board of Directors of TREVALI MINING
CORPORATION
Mark D. Cruise, President
This news release contains "forward-looking statements" within
the meaning of the United States private securities litigation
reform act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. Statements
containing forward-looking information express, as at the date of
this news release, the Company's plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or
results and the company does not intend, and does not assume any
obligation to, update such statements containing the
forward-looking information. Such forward-looking statements and
information include, but are not limited to statements as to: the
accuracy of estimated mineral reserves and resources, anticipated
results of future exploration, and forecast future metal prices,
anticipated results of future electrical sales and expectations
that environmental, permitting, legal, title, taxation,
socio-economic, political, marketing or other issues will not
materially affect estimates of mineral reserves. These statements
reflect the Company's current views with respect to future events
and are necessarily based upon a number of assumptions and
estimates that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies.
These statements reflect the Company's current views with
respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained in this
news release and the company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: fluctuations in spot and forward markets for
silver, zinc, base metals and certain other commodities (such as
natural gas, fuel oil and electricity); fluctuations in currency
markets (such as the Peruvian sol versus the U.S. dollar); risks
related to the technological and operational nature of the
Company's business; changes in national and local government,
legislation, taxation, controls or regulations and political or
economic developments in Canada, the United States, Peru or other
countries where the Company may carry on business in the future;
risks and hazards associated with the business of mineral
exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected geological or
structural formations, pressures, cave-ins and flooding); risks
relating to the credit worthiness or financial condition of
suppliers, refiners and other parties with whom the Company does
business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards; employee relations; relationships
with and claims by local communities and indigenous populations;
availability and increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development, including the risks of obtaining necessary licenses
and permits and the presence of laws and regulations that may
impose restrictions on mining,; diminishing quantities or grades of
mineral reserves as properties are mined; global financial
conditions; business opportunities that may be presented to, or
pursued by, the Company; the Company's ability to complete and
successfully integrate acquisitions and to mitigate other business
combination risks; challenges to, or difficulty in maintaining, the
Company's title to properties and continued ownership thereof; the
actual results of current exploration activities, conclusions of
economic evaluations, and changes in project parameters to deal
with unanticipated economic or other factors; increased competition
in the mining industry for properties, equipment, qualified
personnel, and their costs.
Investors are cautioned against attributing undue certainty or
reliance on forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affecting such statements or information, other than as
required by applicable law.
Trevali's production plans at Halfmile-Stratmat and Santander
are based only on Indicated and Inferred Mineral Resources and not
Mineral Reserves and do not have demonstrated economic viability.
Inferred Mineral Resources are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as Mineral Reserves, and
there is therefore no certainty that the conclusions of the
production plans and Preliminary Economic Assessment (PEA) will be
realized. Additionally where Trevali discusses
exploration/expansion potential, any potential quantity and grade
is conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw Manager -
Corporate Communications (604) 488-1661 or Direct: (604) 638-5623
(604) 408-7499 (FAX)sstakiw@trevali.com www.trevali.com
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