TriMetals Mining Inc.
TSX : TMI
TSX : TMI.B
OTCQX : TMIAF
OTCQX : TMIBF

TriMetals Mining Inc.

October 16, 2014 06:00 ET

TriMetals Mining Inc. Discovers New Areas of Outcropping Gold Mineralization at Gold Springs

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF) is pleased to provide an update on the continuing exploration program at the Gold Springs gold-silver project located in Nevada and Utah.

Ralph Fitch, President and CEO of TriMetals Mining Inc. (the "Company") stated, "Our continuing exploration efforts have not only focused on the drill programs at the Jumbo and Grey Eagle resource areas, from where we should be able to report the next batch of drill results within a few weeks, but also the ongoing investigation and evaluation of new areas of gold-silver mineralization on our large 74 sq km land position at Gold Springs. This work continues to demonstrate the abundance of gold-silver target areas in addition to the 18 areas of outcrop we have historically reported. We are making new discoveries with the help of the recently completed LIDAR survey, which can see through the trees to show geology and very small old prospect pits and outcrops which our team has been following up with on-the-ground visits. The LIDAR in conjunction with our ZTEM geophysical survey which shows rocks that are associated with the gold mineralization, and our growing database of geochemistry and geology have proven to be powerful tools for identifying and targeting new areas with high exploration potential. These additional target areas present excellent opportunities for new gold-silver discoveries in this emerging gold district. Now, with a positive PEA, an ongoing drill program intended to expand the resources at Grey Eagle and Jumbo and the ever increasing number of outcropping drill targets bodes well for the continuing success of the project. We continue to drill with the intention of expanding the resource as we move the project closer to production."

One completely new area is the Snow Prospect located approximately 800 metres west of Etna on the Utah side of the property. Rock samples from this structural zone include assays of up to 3.7 gpt Au and 12 gpt Ag over 4.6 metres. Trenching and further sampling will be done in this area to better understand the scale of the target prior to drilling. Samples included:

Sample Number Description Gold
(gpt)
Silver
(gpt)
Gold
Equivalent*
(gpt)
102789 2x3 m Panel of Altered Wall Rock 0.38 3.5 0.44
102790 4.6 m Across Altered Wall Rock 3.72 12.0 3.93
102791 Lower Dump 3.32 40.9 4.04
26448 Vein From Lower Dump 2.21 18.5 2.53
26449 Altered Wall Rock from Lower Dump 2.50 13.2 2.73
*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries.

Another example of an outcrop area is White Point, located 400 metres west of the Grey Eagle resource area, where an expanded sampling program has completed a series of four channel samples. These were continuous chip samples collected from outcropping material and along an old road cut. Samples were cut approximately perpendicular to the strike of the mineralization. The results include:

Channel Number Sample
Number
Sample
Width*
(metres)
Gold
(gpt)
Silver
(gpt)
Gold
Equivalent**
(gpt)
WP-1 41622-27 9.1 0.33 2.7 0.38
WP-2 41628-32 7.6 0.85 6.7 0.96
WP-3 41633-36 6.1 0.20 2.8 0.25
WP-4 41639-56 27.4 0.63 6.7 0.74
*True width unknown but believed to approximate sample width.
**Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries.

Ralph Fitch went on to say, "The White Point area geology now shows a drill target which is at least 100 metres wide by 300 metres long before it disappears under gravel cover and its location adjacent to the Grey Eagle resource block makes it a very attractive target."

The White Point area represents a priority target for follow-up drilling where reconnaissance RC holes completed in 2011 returned values of up to 9.1 metres at 1.63 gpt AuEq and 13.7 metres at 0.70 gpt AuEq.

Channel sampling was also conducted on the North Grey Eagle area with positive results, providing another shallow drill target that could potentially extend the Grey Eagle resource. Samples were cut perpendicular to the strike of the mineralization and were continuous chips of outcropping material. The results include:

Channel Number Sample
Number
Sample
Width*
(metres)
Gold
(gpt)
Silver
(gpt)
Gold
Equivalent**
(gpt)
GE-2 41601-10 & 41694-704 33.8 0.53 9.1 0.69
GE-3 41611-14 6.1 0.59 6.7 0.71
GE-7 41668-76 13.7 0.89 12.9 1.11
GE-8 41677-93 38.1 0.72 13.1 0.95
*True width unknown but believed to approximate sample width.
**Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries.

Field investigations of other areas of historic workings shown on the "bare earth" LIDAR image have found significant zones of veining, brecciation and stockwork development. Sample results from these additional areas are pending.

Drilling has continued at the Jumbo resource area and we have now completed an additional 11 holes which will be reported when results are received, probably within the next few weeks. This program will bring the total holes drilled in the Jumbo area in 2014 to 22, Grey Eagle 9 and Etna 6. The permitting process is also ongoing and we are in the process of completing the Plan of Operations on the Utah side of the project. The Company is already operating under a Plan of Operations on the Nevada side of the project.

What is LIDAR:

LIDAR, which stands for Light Detection and Ranging, is a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances) to the Earth. These light pulses - combined with other data recorded by the airborne system - generate precise, three-dimensional information about the shape of the Earth and its surface characteristics (NOAA.gov website).

The recently acquired LIDAR data at Gold Springs has produced a "bare earth" image removing all of the vegetation from the image. This has not only allowed for detailed structural interpretations and clear outlines of vein traces, but for the identification of all historic shafts, adits and even small isolated pits. Field investigations aided by the LIDAR survey have identified several new target areas. Most areas have assays pending but results have been received for the new Snow target as reported above.

For more details on Gold Springs please visit our website: www.trimetalsmining.com.

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile; and realization of value from the expropriated Malku Khota project in Bolivia through an arbitration process.

The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.

The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and the common shares and Class B shares also trade on the OTCQX market under the symbol "TMIAF" and "TMIBF". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.

Qualified Person

The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration - North America of TriMetals Mining Inc. and he has reviewed and approved the content of this press release.

Quality Assurance and Quality Control

The laboratory includes duplicates of samples, standards and blanks in their assay reports. The results of these check assays are reviewed prior to the release of data. All sample assays are also reviewed for their geological context.

Assay Method

Assays were performed in Reno, Nevada by Inspectorate Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an AAS finish (FA430). All other elements were analyzed by the 30element, 4 acid ICP method (MA330).

Gold Equivalence

AuEq* was calculated using a gold/silver ratio of 57.14 to be consistent with that used for previously reported drill results and have not been adjusted for metallurgical recoveries.

Forward-looking Statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "continue", "ongoing", "expanding", "should", "could", "potentially", "pending", "intended", "will" and similar expressions. Information concerning the interpretation of exploration results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in size and grade of mineralized areas; changes in exploration plans and project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form, which is available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current interpretations of exploration results, including LIDAR and ZTEM surveys, sampling and reconnaissance RC drill results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this news release describe the Company's expectations as of October 16, 2014.

 

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