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

Trevali Mining Corporation

November 15, 2011 11:23 ET

Trevali Closes Additional $2.3-Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) -

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)(FRANKFURT:4TI)(BVLAC:TV) announces that it completed a private placement of 2,601,178 units of the Company (the "Units")on November 14, 2011. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of $1.10 per share until November 14, 2013. Kallpa Securities SAB of Lima, Peru ("Kallpa") acted as agent in the offering of the Units to qualified South American investors on a commercially reasonable best-efforts basis.

The private placement was completed for gross proceeds of USD$2,289,036.64 (CAD$2,341,060.20) at an issue price of USD$0.88 (CAD$0.90) per Unit. The issue price of Units in this private placement matched the issue price of Units sold in the $30,000,000 public financing completed on November 10, 2011 (see news release TV-NR-11-35).

A cash commission of 5% of the gross proceeds of the private placement was paid by the Company to Kallpa as consideration for arranging the private placement. Completion of the private placement is subject to customary conditions including, but not limited to, the approval of the Toronto Stock Exchange.

The securities issued pursuant to the private placement are subject to a statutory hold period of four months and a day expiring on March 15, 2012.

The net proceeds from the private placement are intended to be used to advance the Company's Santander mine development project and for general working capital purposes.

ABOUT TREVALI MINING CORPORATION

Trevali is advancing two polymetallic (zinc-lead-silver-copper) deposits to production in Canada and Peru – the Halfmile and Santander mine projects respectively. In Canada, Trevali has the Halfmile and Stratmat polymetallic deposits in the Bathurst Mining Camp of northern New Brunswick, and the past-producing Ruttan copper-zinc mine in northern Manitoba. Mine development is currently underway at the Halfmile Mine Project with a planned production rate of 2,000-tonnes-per-day anticipated to commence by year-end 2011.

In Peru, the Company has the Santander zinc-lead-silver mine project and the former-producing Huampar silver mine, both located in the Central Peruvian Polymetallic Belt. At the planned 2,000-tonne-per-day Santander operation, mine commissioning is anticipated to commence in the first half of 2012 with full production to follow immediately 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.

On Behalf of the Board of Directors of TREVALI MINING CORPORATION

Mark D. Cruise, President

Cautionary Statement Regarding Forward-Looking Statements

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws, including the expected use of proceeds and the development of the Santander project. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

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