Trevali Mining Corporation
TSX : TV
FRANKFURT : 4TI
OTCQX : TREVF
BVLAC : TV

Trevali Mining Corporation

July 14, 2011 10:40 ET

Trevali Announces Closing of $15-Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2011) -

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

Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(FRANKFURT:4TI)(OTCQX:TREVF)(BVLAC:TV) is pleased to announce the closing of the CDN $15,000,000 non-brokered private placement financing (the "Offering") announced on July 7, 2011 (TV-NR-11-20), consisting of the sale of 10,000,000 common shares at a price of CDN $1.50 per share.

In connection with the closing of this private placement, Trevali has paid CDN $127,500 in cash and issued the following securities in payment of finders' fees:

(a) 415,000 finders' shares; and

(b) 500,000 finders' warrants, each entitling the holder to purchase one common share at a price of CDN $1.80 until January 11, 2013.

All of the securities issued in connection with the closing of this private placement, including the securities issued in payment of finders' fees, are subject to a hold period in Canada until November 12, 2011.

The proceeds from the Offering will be used to advance the Company's Halfmile and Santander mine development projects, and for general working capital purposes.

Trevali also announces that Tocqueville Asset Management, L.P. ("Tocqueville"), on behalf of one or more investment funds and managed accounts (collectively, the "Accounts"), acquired ownership of all of the 10,000,000 common shares issued pursuant to this private placement. As a result of the purchase of these shares, Tocqueville, on behalf of one or more Accounts, now has authority to exercise control or direction over 10,000,000 common shares of Trevali, representing 9.88% of the 101,237,014 common shares of Trevali currently issued and outstanding. Tocqueville is a New York-based investment management firm.

ABOUT TREVALI MINING CORPORATION
Trevali is advancing two polymetallic (zinc-lead-silver-copper) deposits to production in Canada and Peru – the Halfmile and Santander projects respectively. In Canada, Trevali has the Halfmile and Stratmat polymetallic deposits near Bathurst, New Brunswick, and the Ruttan copper-zinc deposit in northern Manitoba. Mine development is underway at Halfmile with a proposed production rate of 2,000-tonnes-per-day anticipated to commence in 2011. In Peru, the Company has the Santander zinc-lead-silver mine project and the formerly-producing Huampar silver mine, both located in the Central Peruvian Polymetallic Belt.

At Santander, in conjunction with Glencore International A.G., mine commissioning and production is anticipated to commence at 2,000-tonne-per-day in late 2011 with full production to follow immediately thereafter. Additionally through its 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). 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 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.

The TSX has not approved or disapproved of the contents of this news release.

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