SOURCE: TriMetals Mining Inc.

TriMetals Mining Inc.

August 15, 2016 06:30 ET

TriMetals Mining Inc. Discovers New Mineralization From the Trenching Program on the Historic Thor Gold-Vein System on the Gold Springs Project

VANCOUVER, BC--(Marketwired - August 15, 2016) - TriMetals Mining Inc. (TSX: TMI) (TSX: TMI.B) (OTCQX: TMIAF) (OTCQX: TMIBF), (the "Company"), is pleased to announce that it has received results from the trenching program around the historic Thor vein system. The trenching program was designed to expose bedrock from the north-south striking Thor, Dee and Brown veins to an area of postulated vein locations approximately 100 metres west of the historic vein sets. The trenches were extended from east of the Thor vein for 150 metres to the west. Where the veins from the historic workings projected across the trenches, the backhoe was unable to excavate through the post mineral cover due to a layer of cemented clays. The Thor, Dee and Brown vein systems were not exposed for sampling.

The trenches exposed several new vein systems located 105 and 125 metres west of the historic occurrences. These vein systems range in value from 0.749 g/t Au to 18.8 g/t Au.

                
Sample
Number
 Sample Type  Sample Width
(meters)
 Gold
(g/t)
 Silver
(g/t)
 Gold Eq*
(g/t)
139724  Channel  1.0  18.8  47.2  19.563
           

*Gold Eq uses a Au/Ag ratio of 61.9 and assumes 100% metallurgical recovery. Sample widths are approximate true widths.

The 18.8 g/t gold zone displays different characteristics from the majority of the known vein zones of the Thor vein system in that it includes stringers of hematite which in other parts of the property, such as at the Pope target and underground at the Grey Eagle target, include free gold within hematite stringers and hematitic clay zones. One example of this type of mineralization occurs in the Thor Zone further south where sub-crop sample #42161 assays 99 g/t gold and includes "threads" of hematite with visible gold. These areas will be drilled in the current drill program.

In addition to the hematite-gold zone represented by the 18.8 g/t sample, the trenches uncovered a zone of sheeted veins, 125 metres west of the projected Thor vein, that represents another new style of mineralization to the Thor area. This vein zone contained 1.354 g/t Au and 14.4 g/t Ag over a true thickness of 10.3 metres. Both of the new areas of mineralization were not exposed on surface and are starting to define the Thor target as a 150 metre wide, north-south striking mineralized trend. This trend is well defined by the ZTEM geophysics which showed a strike length of 1.6 km.

TMI is currently drilling in the area of the trenches with holes designed to test the historic veins. The holes will be deeper than any previous ones located in this area and should help further identify and define the Thor Trend. TMI will need to permit additional holes to test the new areas of mineralization but expects to accomplish that later this fall so these areas can be tested this year.

Ralph Fitch President and CEO, stated "While the trenching was limited in scope it was successful in showing that veins continued to occur to the west and below the known easterly dipping Thor, Dee and Brown veins extending the width of the mineralized zone. The hematite gold association will be interesting to follow as we start to receive drill information from this area in the next few weeks".

Generally, the veins in the trenches have similar orientations as the historic producing vein systems but there are some with cross-cutting orientations. The following table lists the significant vein intercepts of the newly uncovered vein systems;

                
Sample
Number
 Sample
Type
 Sample Width
(meters)
 Gold
(g/t)
 Silver
(g/t)
 Gold Eq*
(g/t)
139724  Channel  1.0  18.8  47.2  19.563
139726  Channel  1.8  0.749  0.8  0.762
139736  Channel  1.2  0.823  5.4  0.910
139737  Channel  3.0  1.018  5.6  1.107
139741-139743  3 contiguous channels  10.3  1.354  14.2  1.583
           

*Gold Eq uses a Au/Ag ratio of 61.9 and assumes 100% metallurgical recovery. Sample widths are approximate true widths.

These vein occurrences are in addition to the known Thor, Dee and Brown veins that occur a further east and have a similar north-south orientation. Drilling is planned to intersect the complete set of veins whenever possible.

While the trenches did not provide any additional information on the projection of the historic veins in the area due to the overburden, the program successfully discovered a series of new veins with significant gold values thus adding to the potential of the Thor target area.

TMI is currently drilling within the Thor Target area with plans of completing approximately 10-12 holes. Currently the samples from the first three holes are in the laboratory for analysis with results expected by the end of August.

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 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

Approximately 2.2 kg of channel sample chips were collected from each 1 metre (approximately) of trench wall and were sent to the laboratory for analysis. 15-20% of the samples submitted by the Company are blanks and standards. In addition, the laboratory also includes duplicates of samples, standards and blanks. The results of these check assays are reviewed prior to the release of data. All chip sample assays are also reviewed for their geological context and checked against the drill logs.

Assay Method: Assays were performed in Reno, Nevada by Inspectorate America Corporation 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 30 element, 4 acid digestion ICP method (MA300). Over-limit assays of Au and Ag were analyzed by fire assay of a 30-gram sample with a gravimetric finish (FA530-Au/Ag).

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 "will", "potential", "should", "expects", "can" and similar expressions. Interpretations of exploration results, including the strength of mineralization, are forward-looking statements. 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, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration 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 Spring, 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 press release. Except as required by law, TMI 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 press release describe the Company's expectations as of August 15, 2016.

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