Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

December 14, 2006 16:40 ET

Triex Minerals Corporation: $13,011,825 Financing Closed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 14, 2006) -

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

Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") has closed its previously announced brokered private placement (the "Offering") with a syndicate of agents led by Wellington West Capital Markets Inc. and including Dundee Securities Corp., Toll Cross Securities Inc. and Sprott Securities Inc. (the "Agents"). A total of 1,000,000 flow-through common shares ("Flow-Through Shares") at $4.15 per Flow-Through Share were issued for gross proceeds of $4,150,000 and a total of 1,750,000 units ("Units") at $3.75 per Unit for gross proceeds of $6,562,500. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant (a "Warrant"), is exercisable for an additional common share ("Warrant Share") of Triex for a period of 18 months expiring June 14, 2008 at a price of $4.25. In the event that Triex's common shares trade at a closing price on the TSX Venture Exchange of greater than $5.25 per share for a period of 20 consecutive trading days at any time after four months and one day after the Closing Date, Triex may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by Triex.

Triex has also closed its non-brokered private placement of 128,000 Flow-Through Shares at a price of $4.15 per Flow-Through Share and 471,500 Units at a price of $3.75 per Unit for total gross proceeds of $2,299,325. The non-brokered Units have the same terms as the Units sold under the Offering.

All securities issued are subject to a four month hold period expiring April 15, 2007.

Triex will use the gross proceeds from the sale of the Flow-Through Shares to incur Canadian Exploration Expenses. The net proceeds of the Units will be used for working capital purposes.

The Agents received a cash fee equal to 6% of the gross proceeds of the Offering and 165,000 compensation warrants ("Compensation Warrants") exercisable for non-flow-through common shares ("Compensation Shares") equal to 6% of the number of Flow-Through Shares and Units sold under the Offering. The Compensation Warrants are exercisable at a price of $4.10 per Compensation Share until December 14, 2007.

ON BEHALF OF THE BOARD OF TRIEX MINERALS CORPORATION

Michael Gunning, President

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

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