Trevali Resources Corp.
CNQ : ZINC
PINK SHEETS : TREVF
FRANKFURT : 4TI

Trevali Resources Corp.

May 01, 2008 09:30 ET

Trevali Intersects High Grade Silver Mineralization at Santander Project, Peru

Hole SAN-018 intersects 1m @ 40.4 oz (1.25 kg) silver per tonne

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Trevali Resources Corp. ("Trevali" or the "Company") (CNQ:ZINC)(PINK SHEETS:TREVF)(FRANKFURT:4T1) is pleased to announce that the latest drill assay results from its Santander project has returned the highest grade silver mineralization encountered on the property to date. Hole SAN-018 intersected a 1-metre interval grading 40.4 oz (1,258 grams) silver per tonne.

Elevated silver mineralization appears to be associated with a late-stage oblique veining overprint roughly perpendicular to the principal mantos -- suggesting that the current drill program may be underestimating their distribution. This model will be tested by future drill programs. The Santander Zn-Pb-Ag property is located in the province of Huaral, west-central Peru.

Magistral Norte Drilling

Highlights of the latest assay results include (Figure 1 & Table 1):

Drillhole SAN-016 intersecting 13.65 metres of 10.37% Zn, 5.45% Pb, 5.7 oz (178.5g/t) Ag & 0.25% Cu from 133.65 to 147.3 metres downhole -- within which 6 metres returned 17.14% Zn, 8.17% Pb, 8.3 oz (257g/t) Ag & 0.4% Cu.

Drillhole SAN-018 intersected multiple horizons - an upper zone of 7 metres from 140.95 to 147.95 metres that returned 4.65% Zn, 4.39% Pb, 2.1oz (66.8g/t) Ag & 0.1% Cu and a lower zone of 6.3 metres at 7.85% Zn, 6.66% Pb, 8.9oz (277.3g/t) Ag & 0.1% Cu from 152.9 to 159.2 metres downhole -- within which a 1-metre interval assayed 11.42% Zn, 8.16% Pb, 40.4oz (1,258g/t) Ag & 0.24% Cu.

The Company recently completed its initial phase of resource drilling on the Magistral Norte zone -- the first of four high priority out-cropping mineralized zones termed Magistral Norte, Central, Sur and Puajanca respectively (Figure 2). Forty drillholes for a total of 7,009 metres have tested the zone to a vertical depth of approximately 180 to 200 metres. Mineralization remains partially open to the north and specifically to depth where multiple replacement zones have been intersected (Table 1).

Property-scale structural reconstructions and comparisons with the old Santander Mine, located 1.5 km to the southeast, indicates the Magistral Norte zone has additional depth potential conservatively ranging from 300 to 500 metres vertical extent. Consequently the Company is highly confident that it can easily grow the Magistral Norte resource with additional future resource drilling.

Three drill rigs are currently testing Magistral Sur -- following which testing of Magistral Central and several additional high-priority geophysical exploration targets will commence (Figure 2).

To view Figure 1 accompanying this press release please click on the following link: http://media3.marketwire.com/docs/zinc0501.pdf

To view Figure 2 accompanying this press release please click on the following link: http://media3.marketwire.com/docs/zinc0501b.pdf

A total of 63 diamond drill holes have been completed to date, 40 drill holes at the Magistral Norte zone, 19 holes drilled on 40-metre centers at Magistral Sur and 4 holes -- of which 2 are in progress -- at Magistral Central.

Magistral Sur Drilling

Magistral Sur is located approximately 700 metres south-southeast of Magistral Norte (Fig. 2). Due to logistical requirements drillholes SAN-009, 013, 014 and 015 were collared at the southern-most extent of the out-cropping Magistral Sur zone. The modest results indicate mineralization increases to the north. The most current drillhole, SAN-050 confirms this theory - drilling is in progress however thus far the hole has intersected disseminated and semi-massive to massive sulphide mineralization over a 47-metre interval. Subsequent assay results will ultimately determine how much of the interval returns economic grades.

Geological interpretation indicates that the Magistral Sur body formed at higher temperatures to Magistral Norte. It is more massive in nature and contains a higher temperature gangue mineral assembly indicating a proximal location to the metaliferous fluid source. Detailed logging indicates it forms a sub-vertical pipe shaped body steeply dipping to the west and consequently is anticipated to have good to excellent depth potential.



Table 1: Summary assay results - Santander Project

--------------------------------------------------------------------------
Down-
Zone/ hole
Borehole Inter-
(dip/ val
azimuth) From - To (i) Zn% Pb% Ag oz (g/t) Cu%
--------------------------------------------------------------------------
Magistral 111.3--149.4m 38.1m 1.35% - - -
Sur
SAN-009
(-60/N44E) Inc 139.4--149.4m 10m 2.36% - - -
--------------------------------------------------------------------------
Magistral 170.25--180.4m 10.15m 3.7% 1% 2.2oz (69.5g/t) 0.05%
Norte
SAN-012A
(-60/N50E) 185--200.5m 15.5m 2% 1.3% 0.9oz (29.7g/t) 0.04%

Inc 191.4--200.5m 9.1m 2.16% 1.96% 0.6oz (21.3g/t) 0.05%
--------------------------------------------------------------------------
Magistral 13.5m 1.2% 0.35% - -
Sur
SAN-014
(-58/N45E)
--------------------------------------------------------------------------
Magistral 102--109m 7m 2.4% 0.5% - -
Sur
SAN-015
(-59/N60E) Inc 102--106.5m 4.5m 3.2% 0.8% - -
--------------------------------------------------------------------------
Magistral 133.65--147.3m 13.65m 10.37% 5.45% 5.7oz (178.5g/t) 0.25%
Norte
SAN-016
(-60/N50E) Inc 140.65--146.65 6m 17.14% 8.17% 8.3oz (257g/t) 0.4%
--------------------------------------------------------------------------
Magistral 166.45--172.9m 6.45m 2.58% 1.76% 1.1oz (36g/t) -
Norte
SAN-017
(-60/N63E) Inc 167.45--172.05 4.6m 3.12% 2.17% 1.4oz (45g/t) 0.1%
--------------------------------------------------------------------------
Magistral 140.95--147.95m 7m 4.65% 4.39% 2.1oz (66.8g/t) 0.1%
Norte
SAN-018
(-60/N63E) Inc 142.95--147.95m 5m 6.17% 5.78% 2.7oz (86.8g/t) 0.2%

152.9 -- 159.2m 6.3m 7.85% 6.66% 8.9oz (277.3g/t) 0.1%

Inc 157.4--158.4m 1m 11.42% 8.16% 40.4oz (1258g/t) 0.24%
--------------------------------------------------------------------------
Magistral 130.3--158.4m 28.1m 1.16% 0.69% 0.9oz (27.5g/t) -
Norte
SAN-019
(-60/N63E) Inc 132.3--151.9m 19.6m 3% 1.71% 2.1oz (67g/t) -

Inc 140.8--151.9m 11.1m 5.1% 2.9% 3oz (94.5g/t) -

Inc 142.8--147.9 5.1m 6.17% 2% 4.5 oz (142g/t) -
--------------------------------------------------------------------------
Magistral 173--187.65m 14.65m 2.22% 2.19% 0.8 oz (24g/t) -
Norte
SAN-020
(-60/N63E) Inc 173--177m 4m 6.42% 6.33% 1.7oz (52.5g/t) 0.15%

219.75--238.8m 19.05m 1.26% 1.37% 0.8oz (25g/t) -

Inc 234.75--238.8m 4.05m 4.1% 4.39% 2.7oz (85.3g/t) 0.21%
--------------------------------------------------------------------------
(i)Exploration to date suggests mineralized zones or mantos are dipping
west at approximately 70 degrees; however, it is anticipated that future
mapping of an underground exploration adit will allow a more accurate
estimation of true thickness.


Project Background

The Santander Property is located approximately 215 km by road from Lima. The current diamond drill program represents the first modern exploration on the large, 4,455-hectare (44 km2), mine and exploration lease.

Site infrastructure includes a large camp and associated support facilities, an ore processing / concentrator plant (including various crushers, mills and cell houses) able to produce zinc, lead-silver and copper concentrates, and the Company's leased Tingo hydro-electric power-station, located some 17 km down-valley to the west.

Future Work

The Company is committed to fast-tracking this highly prospective, eminently accessible and exciting project to production in the shortest time-frame feasible. The Company is currently examining the feasibility of commencing production from the potentially large tailings resource followed by high-grade hard-rock production upon receipt of all necessary permits (see TRC-NR-08-03 for details).

The present resource definition program is designed to define mineralization to nominal open-pittable depths, although considerable geotechnical and geological analysis and modeling is required prior to assigning the optimum mining method.

Golder Associates of Vancouver has been retained to complete a N.I. 43-101 compliant resource estimate and initial mine scoping study.

Advisory Board

The Company is pleased to welcome Professor Murray Hitzman to its advisory board. Dr. Hitzman holds the Charles F. Fogarty - Chair of Economic Geology at the prestigious Colorado School of Mines and has extensive industry background particularly with reference to carbonate-hosted zinc-lead-silver systems having discovered the c. 22Mt Lisheen deposit in Ireland.

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.

The work programs at Trevali were designed by, and are supervised by, Mark D. Cruise, President & CEO, Trevali, and Les Oldham, General Manager, Consultora Minera Anglo Peruana S.A.(independent geological consultants), who together are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Vancouver, for assay. ACME's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by Trevali personnel in order to independently assess analytical accuracy. Finally, representative blind duplicate samples are routinely forwarded to ACME and an ISO compliant third party laboratory for additional quality control.

About Trevali Resources Corp.

The Company is currently exploring and conducting various scoping level studies on the former Santander poly-metallic mine Peru in order to ascertain as best as possible the cost and feasibility of re-commencing mining and milling operations in a timely manner should exploration prove to be successful.

The common shares of the Company are currently listed on the CNQ (symbol ZINC), for further details on the Company readers are referred to the Company's web site (www.trevaliresources.com), Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of TREVALI RESOURCES CORP.

Mark D. Cruise, President

The CNQ has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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