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

TriMetals Mining Inc.

November 14, 2014 06:00 ET

TriMetals Mining Inc. Receives Environmental Permit for Next Drilling Program at Escalones, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 14, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF), ("TMI" or the "Company") is pleased to announced that its wholly-owned Chilean subsidiary, South American Silver Chile SCM, has been granted an environmental permit to construct 20 drill pads from which 20,000 metres of diamond drilling can be performed. The permit authorizes work to be completed over 3 drilling seasons, which typically extend from October to May.

Ralph Fitch, CEO said: "The issuance of the environmental permit provides another key ingredient for us to seek a partner on this very large project located in a safe, mining friendly jurisdiction with a long mining history. Now, any incoming partner will be able to immediately move to drilling. The target being the potentially significant down-dip and northern extension of the magnetic anomaly associated with the high-grade copper-gold skarn mineralization which forms part of this porphyry copper deposit. Drill testing these areas could significantly expand the footprint of the presently known mineralization."

The Escalones copper-gold project is located in the world-class central Chilean mining district, 35 km East of El Teniente - the world's largest underground copper mine and owned by CODELCO. The project is accessible by road and is approximately 100 kilometres south-east of Santiago.

Escalones hosts a four-square-kilometer area of hydrothermal alteration with coincident geophysical anomalies and additional skarn type geophysical targets extending several kilometres beyond this area. The significant copper-gold mineralization hosted in both skarn and porphyry discovered to date, which comprises the present resource remains open to further expansion laterally and at depth.

The Escalones Resource:

On August 12, 2013, the Company filed a NI 43-101 Technical Report (Amended on July 11, 2014) which included an updated resource estimate for Escalones (See News Releases 13-13 dated June 28, 2013 and 13-17 dated August 12, 2013). The updated resource showed a significant increase in copper, molybdenum and gold resources as well as a category upgrade of approximately a third of the resource to Indicated from Inferred. The updated resource estimate is as follows (note that Indicated resource is in addition to the Inferred resource):

  • An Indicated resource of 232.6 million tonnes of mineralized material containing 1.6 billion lbs. of copper, 498,012 oz. of gold, 4.9 million oz. of silver and 31.9 million lbs. of molybdenum, at a grade of 0.31% copper, 0.07 g/t gold, 0.66 g/t silver and 0.006% molybdenum using a 0.25% Cu Equivalent cut-off grade. This is a copper-equivalent* content of 1.9 billion lbs. of copper grading 0.38%.

  • An Inferred resource of 527.7 million tonnes of mineralized material containing 4.0 billion lbs. of copper, 609,437 oz. of gold, 14.4 million oz. of silver and 79.5 million lbs. of molybdenum at a grade of 0.34% copper, 0.04 g/t gold, 0.85 g/t silver and 0.007% molybdenum using a 0.25% Cu Equivalent cut-off grade. This is a copper-equivalent* content of 4.7 billion lbs. of copper grading 0.40%.

The Escalones mineral resource estimate is based on 53 diamond drill holes (24,939 meters) and 15,880 associated assay values collected through June 28, 2013. The resource estimate is categorized as indicated and inferred as defined by the CIM guidelines for resource reporting. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves after economic considerations are applied. The indicated and inferred mineral resource estimates have been prepared in compliance with the standards of NI 43-101 by Jeffrey Choquette and Jennifer J. Brown, both of Hard Rock Consulting, LLC, who are both "qualified persons" as defined in NI 43-101 and "independent" of the Company as defined in NI 43-101. David Dreisinger, also a qualified person, authored the portions of the Technical Report regarding mineral processing and metallurgical testing.

For more details on Escalones 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 for this press release is Ralph Fitch, CEO of TriMetals Mining Inc. and he has reviewed and approved the content of this press release.

*Copper Equivalent

Copper equivalent calculations reflect gross metal content using approximate 3 year average metals prices as of June 25th, 2013 of $3.71/lb copper, $1549/oz gold, $30.29/oz silver, and $14.02/lb molybdenum and have not been adjusted for metallurgical recoveries. An economic cut-off grade of 0.25% copper equivalent was assumed for this resource estimate. Contained metal values may vary from calculated values due to rounding.

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 "can", "expected", "typically", "expand", "further", "may," "potentially", "will", "immediately", "could" 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; road access to the Escalones project; 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 resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by the Chilean government; the availability of equipment and qualified personnel to advance the Escalones project; road access to the Escalones project; execution of the Company's existing plans and further exploration and development programs for Escalones, 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 14, 2014.

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