VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 27, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF) reports that it filed its NI43-101 Technical Report on SEDAR on March 19, 2014 to support its Resource Estimate for the Gold Springs property and is now proceeding with a NI 43-101 Preliminary Economic Assessment ("PEA").
Ralph Fitch, President and CEO stated "We are thrilled to be at this stage of development of the Gold Springs project. We are now well advanced on an internal economic study of the project, using external independent engineers and have decided to upgrade this report to be NI43-101 compliant. We plan to issue the PEA by the end of April. As all of our investors know, in terms of upside potential for the resource, we have only drilled a portion of two of 18 outcropping gold targets and none of the extensive buried geophysical targets. I believe that the project will develop a significant resource over time."
Ralph Fitch went on to say "We are moving forward with metallurgical testing and will be carrying out tests using coarse material of a similar size to typical Nevada heap leach operations and are expecting to soon be able to report the issuance of our Plan of Operations on the Nevada side of the project. Once we have the completed the PEA we will make the decision as to whether the focus will be to move through all the engineering studies including the Pre-Feasibility and Feasibility Studies or to continue to expand the resource."
Further details on each of the Company's projects, including the recently acquired Gold Springs gold project in Nevada/Utah, are available on the Company's website at www.trimetalsmining.com and on SEDAR at www.sedar.com.
The Company had many meetings at the PDAC this year and generated strong interest in the Escalones copper-gold porphyry project and are continuing discussions with companies that have shown an interest in joint venturing the project.
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 the arbitration process. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Limited., owns 100% of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. 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 also trade on the OTCQX market under the symbol "TMIAF". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
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", "plan", "intention", "proceeding", ""continue", "potential", "expecting", "believe", "creating", "realization" and similar expressions. This News Release contains forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. 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, delays in completing the PEA; uncertainties associated with the arbitration proceeding against Bolivia, including the quantum of damages to be obtained and the realization or collection of the value of any award or settlement; and risks of the mineral exploration industry which may affect the advancement of the Escalones or Gold Springs projects, including possible variations in mineral resources or grade, metal prices, availability of sufficient financing to fund further required work in a timely manner and on acceptable terms, timely receipt of required permits including the issuance of the Plan of Operations, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated,, changes in project parameters as plans continue to be refined; the continued interest of potential joint venture partners in the Escalones project; and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the timely completion of the PEA by external independent engineers; the ability of the Company to realize value from its investments in Bolivia; the arbitration proceeding along a timeline consistent with other international arbitrations and the third party funder honoring its contractual commitments, the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the timely receipt of required permits for Escalones and Gold Springs projects including the Plan of Operations; the continuing support for mining by local governments in Nevada, Utah and Chile, the availability of equipment and qualified personnel to advance the Escalones and Gold Springs projects; the continuing interest of potential joint venture partners in the Escalones project; and the execution of the Company's existing plans and further exploration and development programs for Escalones and Gold Springs Projects, 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.
Subject to applicable laws, 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 March 27, 2014.