Trio Gold Corp.

Trio Gold Corp.

March 07, 2005 13:43 ET

Trio Gold Corp.: News Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRIO GOLD CORP.

TSX VENTURE SYMBOL: TGK
PINK SHEETS SYMBOL: TROOF

MARCH 7, 2005 - 13:43 ET

Trio Gold Corp.: News Release

CALGARY, ALBERTA--(CCNMatthews - March 7, 2005) - Trio Gold Corp. (TSX
VENTURE:TGK) (PINK SHEETS:TROOF)

Private Placement - The Company intends to proceed with a non brokered
private placement of up to three million units at a price of $0.15 per
unit. Each unit consists of one common share and one common share
purchase warrant (the "Warrants"). Each Warrant entitles the holder
thereof to acquire one common share of the company for twenty cents
($0.20) per share for a period of 12 months from closing. The funds are
intended to be used for mine planning, and permitting of the Empire Mine
property in Idaho, for continued drilling on the San Ramon property in
Chile and for working capital. The private placement is subject to the
approval of the TSX Venture Exchange.

San Ramon - Chile - Drilling is currently underway on this 35 sq. Km
property located 45 Km west of Copiapo Chile. Two core holes have been
completed, these holes were drilled between two previously drilled holes
on the Carmen vein that averaged 5.3% Cu, 2.1 gm/T Au and 0.12% Co.,over
an average width of 5 meters at depths between 190 and 230 meters. (see
news releases dated Aug 20, 2004, and Jan 18 2005) Assay results from
these drill holes are expected in about 30 days. Chile is the world's
largest copper producer. A minimum of 10 mineralized structures have
been identified by old workings, geophysics and drilling on the San
Ramon property. The vein widths vary between 2 and 20 meters and are
visible in lengths between 500 and 2,000 meters before extending under
sandy overburden.

Philip van Angeren P.Geol., director of Trio Gold Corp., a "qualified
person" under National Instrument 43-101 guidelines is the project
supervisor for the above project.

The company plans to re-issue a total of 250,000 share options to
employees and directors at a price of $0.15 per share for a five year
period, these shares were previously allotted but expired prior to being
exercised.

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

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Trio Gold Corp.
    Mr. Harry Ruskowsky
    President & CEO
    (403) 262-9640
    or
    Trio Gold Corp.
    Mr. Harry Stech
    Secretary & CFO
    (403) 262-9640
    or
    Trio Gold Corp.
    Suite 145, 251 Midpark Blvd. S.E.
    Calgary, Alberta T2X-1S3
    (403) 262-9640
    (403) 262-9759 (FAX)
    Email: trio@triogold.com
    Website: www.triogold.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.