Trio Gold Corp.

Trio Gold Corp.

October 14, 2009 13:32 ET

Trio Gold Corp. Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2009) - Trio Gold Corp. (TSX VENTURE:TGK) (PINK SHEETS:TROOF) ("Trio") announces that, subject to the approval of the TSX Venture Exchange, it intends to proceed with a non-brokered private placement of up to ten million units at a price of $0.10 per unit. Each unit will consist of one common share and one common share purchase warrant (the "warrant"). Finder's fees may be payable in connection with this private placement.

Each warrant will entitle the holder to purchase one common share of the company for $0.15 per share within 18 months from the date of closing. The shares issued pursuant to this placement will be subject to a four month hold period from the date of closing. The net proceeds are intended to be used for a drill program on Trio's wholly-owned Rodeo Creek project located within the famed Carlin Trend in Nevada. The drill program is expected to start within 30 days from closing of the private placement depending on rig availability.

The Carlin Trend is the most prolific gold area in North America, and hosts as many as thirty gold producing mines and development projects, on which over 100 million ounces of gold production and inventory have been identified to date. The Rodeo Creek property is located 1.5 km northwest of Barrick's Storm deposit and 2.5 km northwest of their Arturo South deposit. Trio's property exhibits geological and alteration features common to all deposits on the Carlin Trend. The Company has identified five high-priority drill targets to date.

CUSIP #89669C-108, Exemption #82-2127

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Trio Gold Corp.
    Mr. Harry Ruskowsky
    President and CEO
    (403) 262-9640
    Trio Gold Corp.
    Suite 145, 251 Midpark Blvd. S.E.
    Calgary, Alberta T2X-1S3
    (403) 262-9640
    (403) 262-9759 (FAX)