SOURCE: TriMetals Mining Inc.

TriMetals Mining Inc.

January 11, 2017 06:00 ET

TriMetals Mining Inc. Reports First 2016 Drill Results from South Jumbo Including 18.3 Metres Averaging 3.84 g/t AuEq, Near Surface, Within 150.9 Metres Averaging 1 g/t AuEq

VANCOUVER, BC--(Marketwired - January 11, 2017) - TriMetals Mining Inc. (TSX: TMI) (OTCQX: TMIAF),(the "Company"),is pleased to announce the first drill results from South Jumbo around the historic Etna mine, located towards the southern end of the Jumbo Trend, some 1.5 km south of the present resource area, within the Gold Springs project located in Utah and Nevada. All drilling was conducted on Utah State Trust Lands within a recently acquired 160 acre parcel. Highlights include 3.46 g/t Au and 23.39 g/t Ag over 18.3 metres in hole E-16-005, within a strong, wider zone of near surface mineralization averaging 2.17 g/t AuEq over 45.7 metres, which itself is within 150.9 metres averaging 1.00 g/t AuEq:

Hole From (m) To (m) Thickness (m) Gold (g/t) Silver (g/t) AuEq (g/t)
E-16-005 24.4 42.7 18.3 3.46 23.39 3.84
Within            
E-16-005 19.8 65.5 45.7 1.93 15.08 2.17
Within            
E-16-005 19.8 170.7 150.9 0.87 7.78 1.00
       

* Gold Equivalent ("AuEq") calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries. True width is approximately 80-90% of Thickness.

Link to Location Map showing Jumbo Trend:

http://www.trimetalsmining.com/wp-content/uploads/2017/01/GSPR_Figure1-09-17v2mpm.pdf

Link to Location Map showing RC hole E-16-05:

http://www.trimetalsmining.com/wp-content/uploads/2017/01/EtnaPlanSection6800N.pdf

A total of 8 holes were completed in 2016 in the vicinity of the historic Etna mine with all holes located north of holes E-12-001 (39.6 metres @ 0.57 g/t Au and 4.2 g/t Ag) drilled in 2012 and E-14-001 (29.0 metres @ 0.85 g/t Au and 10.22 g/t Ag) drilled in 2014. The Company believes that these earlier holes, together with the recent drilling, outline an open-ended zone of gold mineralization extending for 400 metres which is open along strike both to the north and south, and to depth. Notably many of the six holes reported here ended in mineralization, suggesting that the actual mineralized zone is even wider than reported.

Highlights from the first 6 holes (results from holes E-16-007 and E-16-008 are still pending) at Etna include:

Hole  From (m)  To (m)  Thickness (m)  Gold (g/t)  Silver (g/t)  AuEq (g/t)
E-16-001  65.5  80.8  15.3  1.11  5.95  1.20
                   
E-16-002  68.6  86.9  18.3  1.43  14.58  1.66
                   
E-16-003  50.3  86.9  36.6  0.65  9.39  0.80
                   
E-16-004  41.1  65.5  24.4  2.04  11.49  2.22
                   
E-16-005  19.8  170.7  150.9  0.87  7.78  1.00
Inc.  19.8  65.5  45.7  1.93  15.08  2.17
Inc.  24.4  42.7  18.3  3.46  23.39  3.84
                   
E-16-006  15.2  24.4  9.2  0.65  6.68  0.76
             

* Gold Equivalent ("AuEq") calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries. True width is approximately 80-90% of Thickness.

A complete set of cross-sections through the South Jumbo and a trace map showing the surface location of the RC holes is available here:

http://www.trimetalsmining.com/wp-content/uploads/2017/01/EtnaPlanSections6000N-6900N.pdf

Ralph Fitch, President and CEO of the Company stated "These latest results from South Jumbo are very important for the advancement of the Gold Springs project, demonstrating the existence of much higher-grade, near surface, mineralization than has typically been drilled in the past. Any extension of the 2-3 g/t gold intercept seen in E-16-005 and E-16-004 would potentially allow for the development of a higher-grade starter pit with its associated positive economic impacts, to be mined at the beginning of project development, together with our existing resource, estimated in North Jumbo, 1.5-3.0 km to the north. Drilling has now indicated the presence of gold mineralization over approximately half of the 5 km Jumbo Trend which is defined by the ZTEM geophysical anomaly. It is planned to update the Gold Springs resource estimate this quarter using the drill results from both the 2015 and 2016 drill programs, including the results reported here."

All holes contained an upper and lower mineralized zone and all ended in mineralization, including hole E-16-001, which was drilled to a total depth of 214.9 metres with the last 15.2 metres of the hole averaging 0.67 g/t Au and 3.06 g/t Ag. Importantly, 198.1 metres of this hole averaged 0.36 g/t AuEq and, as noted above, ended in mineralization. The deeper mineralization seen in E-16-001 was not reached in any of the other holes as all ended at much shallower depths. These stacked mineralized zones and the deeper mineralization intersected in hole E-16-001 suggest that the South Jumbo has the potential to develop into a significant mineral system with thicknesses of mineralization comparable, or greater than, those seen in the area of the presently reported resource estimate in North Jumbo (NI 43-101 Technical Report dated August 12, 2015). The South Jumbo (Etna) extends another 1000 metres south of the reported holes, to the southern end of the ZTEM geophysical anomaly.

Hole E-16-006, the most northern of the holes reported, contained shorter, and lower grade intervals of gold-silver mineralization than the other five holes reported here, however, this mineralization is very significant in that it shows the mineral system continues to the north, in an area of structural complexity, that geological interpretation indicated might have cut-off the mineralization.

Details of mineralization intersected:

Hole  From (m)  To (m)  Thickness (m)  Gold (g/t)  Silver (g/t)  AuEq (g/t)
E-16-001  16.8  214.9  198.1  0.32  2.52  0.36
Inc.  16.8  88.4  71.6  0.47  3.8  0.53
Inc.  65.5  80.8  15.3  1.11  5.95  1.21
and  111.3  123.4  12.1  0.61  2.88  0.66
and  199.6  214.9  15.3  0.67  3.06  0.72
E-16-002  0  105.2  105.2  0.56  5.54  0.65
Inc.  68.6  86.9  18.3  1.43  14.58  1.66
E-16-003  38.1  96.0  57.9  0.48  8.19  0.61
Inc.  50.3  86.9  36.6  0.65  9.39  0.81
E-16-004  25.9  36.6  10.7  0.48  4.67  0.55
   36.6  41.1  4.5  Old Working   
and  41.1  65.5  24.4  2.04  11.49  2.22
E-16-005  19.8  170.7  150.9  0.87  7.78  1.00
Inc.  19.8  65.5  45.7  1.93  15.08  2.17
Inc.  24.4  42.7  18.3  3.46  23.39  3.84
and  117.3  153.9  36.6  0.95  9.3  1.10
E-16-006  15.2  24.4  9.2  0.65  6.68  0.76
and  120.4  132.6  12.2  0.38  5.46  0.47
Drill Hole  Easting - UTM NAD 27  Northing - UTM NAD 27  Elevation (m)  Azimuth  Inclination  TD (ft)  TD (m)
E-16-001  760606  4196611  6622  90  -50  705  214.9
E-16-002  760579  4196650  6620  90  -50  485  147.8
E-16-003  760555  4196701  6615  90  -50  515  157.0
E-16-004  760545  4196754  6612  90  -50  625  190.5
E-16-005  760531  4196787  6603  90  -50  605  184.4
E-16-006  760529  4196834  6590  90  -65  525  160.0
               

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". Note that the Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder's portion thereof) received by TMI from award or settlement in relation to the Company's subsidiary South American Silver Limited's arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012. 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. The Qualified Person verified the data for its geological reasonableness, checked all the inputs and verified the analytical data through an analysis of the blanks and standards submitted with the drill-chip samples.

Quality Assurance and Quality Control

Approximately 10 kg of RC chips were sent to the laboratory for each 1.52 metre drill interval. Fifteen percent of the samples submitted by the Company are blanks and standards for QA/QC purposes. 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

TMI Assays were performed in Sparks, Nevada by Bureau Veritas Mineral Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30-gram sample with an AAS finish with samples assaying greater than 10 g/t re-assayed using a 30-gram sample and a gravity finish. All other elements were analyzed by a four acid leach ICP method coded MA300.

No known drilling, sampling, recovery or other factors have been observed that could materially affect the accuracy or reliability of the data referred to in this news release.

Gold Equivalent

Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking information" or "forward-looking statements" under applicable securities laws ("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 "outline", "suggesting" or "suggest", "continue", "indicates", "would", "potentially" or "potential", "planned" and similar expressions. Interpretations of exploration results, including the strength of mineralization, are also 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 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 press 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 press release describe the Company's expectations as of January 11, 2017.

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