TriMetals Mining Inc.

TriMetals Mining Inc.

November 12, 2014 06:00 ET

TriMetals Mining Inc. Intersects 138.7 Metres at 1.01 g/t AuEq at Gold Springs, Extending Mineralization 61 Metres Beyond Present PEA Pit Design

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF), is pleased to announce the drill results from the 2014 Phase II drill program in the Jumbo area at the Gold Springs gold-silver project located in safe, mining friendly Nevada and Utah. TMI initiated a second drill phase on the Jumbo resource area in late September and has completed a total of 11 additional reverse-circulation ("RC") drill holes. This drill program was designed to extend mineralization to the east and at depth in the main and southern Jumbo zones, and to test mineralization in a new southwest Jumbo zone.

Hole J-14-18, drilled in the northern portion of the Jumbo main zone, included a long intercept of plus 1 g/t AuEq* and extended the mineralization beyond the limits of the present resource block model and PEA pit design.

Hole ID From (Metres) To (Metres) Thickness (Metres) Gold (g/t) Silver (g/t) AuEq* (g/t) Estimated
True Width (Metres)
J-14-018 83.8 222.5 138.7 0.69 17.87 1.01 130.3
including 106.7 143.3 36.6 1.39 37.85 2.06 34.4

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries.

Ralph Fitch, President and CEO, stated, "This is a significant hole demonstrating that mineralization extends beyond the boundary of the present resource estimate and continues beneath the PEA pit design. This means that when the resource is re-estimated early next year and the pit redesigned, there is the potential to expand the number of ounces mined and further enhance the economics demonstrated in the PEA. This is one more indication of the upside potential we see at the Gold Springs project. So far resource drilling has only been carried out on two of the original 18 areas of outcropping gold mineralization. Less than 10% of the gold target has been tested by drilling."

The Phase II drill program at Jumbo was successful in all areas, demonstrating the continuation of mineralization to the east in both the main and southern Jumbo zones and to depths below any previously known mineralization. Holes in the main-Jumbo zone intersected deeper vein systems not previously known and extended mineralization to depths of 200 metres below the outcropping gold zones. Hole J-14-018 intersected 138.7 metres @ 1.01 g/t AuEq* and ended in mineralization. Results from the holes in the main-Jumbo zone include;

Hole ID From (Metres) To (Metres) Thickness (Metres) Gold (g/t) Silver (g/t) AuEq* (g/t) Estimated
True Width (Metres)
J-14-018 83.8 222.5 138.7 0.69 17.87 1.01 130.3
including 106.7 143.3 36.6 1.39 37.85 2.06 34.4
J-14-013 77.7 137.2 59.4 0.24 4.14 0.31 48.7
including 117.3 134.1 16.8 0.49 6.75 0.61 13.7
J-14-014 48.8 61.0 12.2 0.35 4.69 0.43 9.3
and 132.6 146.3 13.7 0.31 11.03 0.50 10.5
J-14-017 57.9 182.9 125.0 0.31 9.89 0.48 95.7
including 64.0 91.4 27.4 0.54 7.39 0.67 21.0
J-14-019 137.2 192.0 54.9 0.44 5.50 0.53 38.8
including 137.2 141.7 4.6 3.07 3.07 3.13 3.2

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries

In the southern Jumbo zone holes J-14-012, 15, 16, and 20 tested the eastern and downdip extension of the mineralization with positive results. Hole J-14-022 was located to infill a section of the southern Jumbo. Holes J-14-016 and 20 both ended in mineralization. The new results are listed below;

Hole ID From (Metres) To (Metres) Thickness (Metres) Gold (g/t) Silver (g/t) AuEq* (g/t) Estimated
True Width (Metres)
J-14-012 93.0 132.6 39.6 0.21 11.01 0.40 34.3
including 100.6 111.3 10.7 0.33 18.21 0.65 9.2
J-14-016 41.1 131.1 89.9 0.53 15.95 0.81 51.6
including 56.4 111.3 54.9 0.71 16.93 1.00 31.5
J-14-020 82.3 158.5 76.2 0.44 17.02 0.73 38.1
including 82.3 134.1 51.8 0.55 20.84 0.91 25.9
including 83.8 109.7 25.9 0.81 29.09 1.32 13.0
J-14-022 10.7 56.4 45.7 0.28 9.91 0.45 43.0
including 22.9 42.7 19.8 0.42 13.95 0.67 18.6

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries. J-14-015 intersected weak mineralization.

Hole J-14-021 was located to test a western Jumbo zone and is the western most Jumbo hole drilled to date. Results from this hole indicate the potential for a parallel mineralized zone immediately west of Jumbo. This area will need additional drilling to understand the potential for additional resources.

Hole ID From (Metres) To (Metres) Thickness (Metres) Gold (g/t) Silver (g/t) AuEq* (g/t) Estimated
True Width (Metres)
J-14-021 16.8 68.6 51.8 0.21 6.14 0.32 50.1

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries

The 2014 RC drill program was successful. 18 of the 22 holes drilled at Jumbo extended mineralization beyond the present PEA pit design, 3 provided infill information and one drilled into post mineral cover. This new information will potentially allow for the expansion of the present PEA pit design and the extraction of more ounces of precious metals.

The results reported above for the Phase II drill program, along with the previously reported 2014 results, are not only important in terms of the expansion of the gold and silver mineralization beyond the present PEA pit design, but they also demonstrate grades above the overall average of the PEA resource, particularly in the South Jumbo area. Looking at the grades of some of the above holes together with the previous 2014 holes it can be seen that there are areas developing which contain higher grades:

Hole ID Area Thickness (Metres) AuEq* (g/t)
J-14-018 Main Jumbo 138.7 1.01
J-14-016 South Jumbo 54.9 1.00
J-14-020 South Jumbo 51.8 0.91
J-14-001** South Jumbo 50.3 0.99
J-14-002** South Jumbo 15.3 0.92
J-14-003** South Jumbo 33.5 1.01
J-14-004** South Jumbo 67.0 1.03
J-14-005** South Jumbo 16.8 0.96
J-14-009** South Jumbo 15.2 0.92
J-14-011** South Jumbo 38.1 1.01

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries. ** previously reported (NR 14-16 and 14-17)

None of the 2014 drill results are included in the resource numbers reported in the July 8, 2014 Amended Preliminary Economic Assessment. The higher grades from these holes may have additional positive impacts on the total resource numbers and the already strong economics for the project as reported in the PEA.

Ralph Fitch, President and CEO stated, "The 2014 drilling programs have not only demonstrated the presence of mineralization outside of the present PEA pit design boundary but have also indicated areas containing higher grades. Equally exciting is the fact that some drill holes with mineralization are in new areas for future follow-up work. The Phase I drilling included hole J-14-010 which contained 25.9 metres @ 0.65 g/t AuEq* located 100 metres north of the main Jumbo zone and outside of the present resource. The Phase II program included hole J-14-021 which reported 51.8 metres @ 0.32 g/t AuEq* and is located in a possible parallel zone to the Jumbo and is located 20-100 metres west of the current pit. All of these results are very positive for continuing to increase the size, quality, and strong economics of the Gold Springs Project. All of us at TMI are excited about the possibilities of continued successes for this project as we move forward."

TMI has started a short core drilling program on November 7th. This program is designed to obtain material for additional metallurgical work, geotechnical analysis, geochemistry and geology. The new core holes will provide material from all of the different mineralization types at both Grey Eagle and Jumbo.

For more details on Gold Springs please visit our website:

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 and on SEDAR at

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 5.5 kg of RC chips are sent to the laboratory for each 1.52 metre drill interval. 5% 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 RC 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 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.

Drill Hole Information:

Hole ID Target Azimuth Inclination TD (m)
J-14-012 Jumbo 270 -60 164.59
J-14-013 Jumbo 270 -65 232.87
J-14-014 Jumbo 270 -70 176.78
J-14-015 Jumbo 0 -90 158.5
J-14-016 Jumbo 90 -85 131.06
J-14-017 Jumbo 270 -70 195.07
J-14-018 Jumbo 270 -50 222.5
J-14-019 Jumbo 270 -75 198.12
J-14-020 Jumbo 0 -90 158.5
J-14-021 Jumbo 280 -45 153.92
J-14-022 Jumbo 305 -50 152.4

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 "upside", "expand", "further", "may," "potential", "designed to", "indicate", "will" and similar expressions. Information concerning the interpretation of drill 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 mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in 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 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 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 November 12, 2014.


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