Trinity Mining Holding A.G.
FRANKFURT : TKX

Trinity Mining Holding A.G.

April 16, 2009 14:40 ET

Trinity Mining Holdings A.G. Announces the Discovery of a Potentially Very Important Gold-Silver Mineralized System in the Alto Chicama Gold District of Northern Peru

ZURICH, SWITZERLAND--(Marketwire - April 16, 2009) - TRINITY MINING HOLDING AG ("Trinity" or the "Company") (FRANKFURT:TKX) is pleased to announce that recent drilling, trenching and other exploration works have led to a gold-silver discovery potentially very important on its Caupar project located East of the coastal city of Trujillo in Northern Peru, more precisely in the well known Alto Chicama gold mining district (Barrick) in the department of La Libertad.

The property covers an area of 3,000 hectares and tying on to it are properties owned by Barrick and Goldfield. The mineralized area has been established by surface work to have an approximate length of 3.0 km and to be up to 1.0 km in width. Its mining potential is suggested by the presence of a gold-silver mineralized 75 to 150 meters thick oxidized zone, located directly at surface on a flatted mountain top , whose overall volume exceeds 100 million tons at targeted grades between 0.35 to 0.75 g/t Au and about 15.0 g/t Ag, as indicated by both extensive trenching and limited diamond drilling. If confirmed, the project would be run of mine heap leaching operation type with almost a zero ore to waste mining ratio. Gold is in a free state, very fine, and well distributed as described by thin sections studies on drill core samples from the mineralized zone.

The mining potential remains, as we said, to be confirmed by well oriented diamond drilling programs to test the gold values underneath the trenches. Of particular interest are two perpendicular trenches (trenches 4 and 9, see figure at the following address: http://media3.marketwire.com/docs/Caupar-Figure-Final-PR-16-04-09.jpg), which yielded values of 0,19 g/t over 190m and 0,21 g/t over 248m respectively. Three of the four trench extremities ended in mineralization.

Also of interest, it seems that gold and silver values increase with depth, as noted in the discovery hole, C-2008-04 which yielded, from surface to a depth of 73 meters, which corresponds to the oxide-sulfide limit, an intersect of 0.38 g/t Au and 10.7 g/t Ag over 73.0 meters, of which the last 21 meters returned grades of 0.78 g/t Au and 19.0 g/t Ag. This hole had a significantly lower grade on the first few meters, especially in its silver content. Generally speaking, gold and silver contents in soil are much lower than in the oxydized surface rock of the mineralized zone.

Trenching results are given attached to this report and so are drilling results. Originally, this drilling program was designed to test the possible presence of a Porphyry Copper deposit; the existence of a large surface oxidized system was unknown then. Most of the holes drilled initially are located on what is now periphery of the gold-silver system.

Already, six important mining companies, five of which have signed a confidentiality agreement, have shown interest in the project. The Caupar project is under a three year option from Iamgold and by which Trinity can earn up to 70% participation over a period of three years (see press release of August 23, 2007). So far, the terms and conditions of the option have been respected.

Originally owned by Cambior (now Iamgold) the property was initially staked as a copper-gold project. Cambior conducted geochemical, geophysical and geological surveys that established a favourable mineralized zone having an approximate length of 3.0 km and a width of up to 1.0 km. It lies on top of the 3,500 m high north-easterly oriented Cerro (Mount) Caupar. The mountain is very gently curved and of easy access all year round. All infrastructural facilities including roads, water and electrical power are available nearby. The mineralized zone is characterized by the presence of a multitude of long narrow, altered and almost vertical gold bearing quartz veins lying within a completely oxidized host rock. Depth of oxidation as previously said is in the 75-150 m range.

The next phase of intervention is to consist of a metallurgical test to determine the level of extraction of the gold (and silver) by heap leaching method and of more drilling to come up with that kind of resources needed to declare presence of an ore body.

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