NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) wishes to announce that
it has closed its previously announced flow-through private placement financing,
issuing 14,987,500 common shares on a "flow-through" basis under the Income Tax
Act (Canada) ("Flow-through Shares") at a price of Cdn$1.03 per Flow-through
Share for aggregate gross proceeds of Cdn$15,437,125.00, including the exercise
of the over-allotment option (the "Offering"). The Offering was led by Raymond
James Ltd. on behalf of a syndicate that included GMP Securities L. P., Dundee
Securities Ltd. and Middlefield Capital Corporation (together, the
"Underwriters").


The Company will incur Canadian exploration expenses (as defined in the Income
Tax Act (Canada)) for the gross proceeds raised from the Flow-through Shares no
later than December 31, 2013 and will renounce such expenses effective December
31, 2012 and such expenses will qualify as "flow-through mining expenditures"
within the meaning of the Income Tax Act (Canada). The gross proceeds from the
sale of the Flow-through Shares will be used to fund continued underground
development and exploration infrastructure at the Halfmile Mine and exploration
expenditures at the Stratmat Deposit. 


In connection with the Offering, the Underwriters received a cash commission of
Cdn$771,856.25. All securities issued are subject to a four month and one day
hold period. 


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), the Lima Stock Exchange (symbol TV) and the Frankfurt Stock
Exchange (symbol 4TI). 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.


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
anticipated use of proceeds, the incurring of expenses that qualify as
"flow-through mining expenditures," 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.
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