Jun 2 2015
Trevali Mining Corporation ("Trevali" or the "Company") wishes to confirm that given the recent results of an independent mineral resource estimate update for its Stratmat Deposit in the Bathurst Mining Camp of New Brunswick, Canada and changes in key assumptions and other underlying information, it plans to undertake a revised Halfmile-Stratmat Preliminary Economic Assessment ("PEA") study.
As such, the Company's existing report entitled "Halfmile Lake-Stratmat Preliminary Economic Assessment" having an original effective date of February 17, 2009 (and filed by the Company on SEDAR on August 24, 2011), including associated amendments, authored by Tetra Tech Wardrop should no longer be relied upon.
Since the original PEA was prepared in 2009, additional information from the Stratmat property is available and the resource sector outlook has also evolved since that time. Therefore, management considers many of the technical inputs and background parameters and assumptions in the existing PEA outdated and inaccurate.
The updated PEA will incorporate the new independent Stratmat resource estimate from SRK Consulting (Canada) Inc. ("SRK") (see news release TV-NR-15-11, May 20, 2015) as well as additional work programs including geotechnical analysis and metallurgical test work, revised commodity price forecasts, fuel, labour, foreign exchange rates and contractor rates and availability. It will also enable Trevali to utilize hard costs and technical data from its nearby Caribou Zinc mine operation where commissioning has recently commenced (Figure 1).
While the Company intends to advance the PEA for Halfmile-Stratmat, its primary focus remains on its two material projects, namely the Caribou Zinc Mine in New Brunswick, where commissioning is progressing according to schedule, and its Santander Zinc Mine in Peru that is in commercial operation.
A NI 43-101 report of the SRK Stratmat Resource Estimate will be lodged on SEDAR and the Company's website in due course. As stated above, this report will not carry forward the 2009 Halfmile-Stratmat PEA report.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TV0601.pdf
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO is a qualified persons as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company, as he is an officer, director and shareholder.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals mining company with one producing operation in Peru and another currently undergoing commissioning in Canada.
In Peru, the Company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The Company is currently commissioning its 3,000-tonne-per-day Caribou mine.
All of the Company's deposits remain open for expansion.
The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol TV). For further details on Trevali, readers are referred to the Company's website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of TREVALI MINING CORPORATION
Mark D. Cruise, President
Source: http://www.trevali.com