TORONTO, April 2, 2013 /PRNewswire/ -- Trio
Resources, Inc. ("Trio" or the "Company") (OTCBB: TRII) is
pleased to announce that it has signed a five-year Off-Take
Agreement (the "Agreement") with United Commodity AG ("UC";
Stuttgart: 3UI1:GR;
website: http://www.united-commodity.com) to process precious
metals from the Company's above-ground stockpiles of
silver-containing mineralized material. The Agreement calls for a
minimum 334 tons of Trio's feed concentrate to be delivered per
month to UC for processing, at its eco-friendly Yukon Refinery in
Cobalt, Ontario. The minimum
20,000 tons of deliverable material under the Agreement will
originate from Trio's aggregate stockpiles of an estimated 1.3MM
tons of mineralized material.
Trio Resources, Inc. maintains stockpiles of mineralized
material containing silver, cobalt, nickel, and zinc, all of which
are recoverable via UC's treatment process. Trio's aim is that by
working with UC and utilizing their cutting-edge facility, the
Company will be able to more efficiently and effectively recover
its value minerals.
"The Agreement with UC is an important first step toward
realizing the value of our above-ground mineralized material, and
is essential in propelling our business plan forward with respect
to generating positive cash-flows," stated Duncan Reid, CEO of Trio Resources, Inc.
"As a junior exploration and small production company, we are in
a unique position insofar as we possess above-ground assets, which
could potentially fund our exploration initiatives. Our aim is to
continue working to monetize our existing assets, in order to
further develop the Company."
About Trio Resources, Inc.
Trio Resources, Inc. is an exploration and small-scale
processing company which plans to focus on the exploration and
milling of mineralized materials located in historically prolific
regions. Trio is organized to hold assets in the mining industry,
targeting older mining camps with residual value. Trio's intention
is to conduct an exploration program, in conjunction with milling
initiatives to monetize its existing above-ground mineralized
material on-site, with the purpose of being cash-flow positive
primarily through milling and marketing mineralized material and
concentrate to refiners. For more information, please visit
http://www.trioresources.com/.
Cautionary Note Regarding Forward-Looking Statements:
Except for the statements of historical fact contained
herein, certain information presented constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to, those with respect to
potential expansion of mineralization, potential size of
mineralized stockpiles, and size and timing of exploration and
development programs, estimated project capital and other project
costs and the timing of submission and receipt and availability of
regulatory approvals involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievement of Trio to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to, the factors described in our Report on Form
8-K/A filed with the SEC on March 15,
2013, including the section captioned "Risk Factors"
therein. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. The forward-looking
statements set forth herein reflect our estimates and assumptions
only as of the date of this press release and are subject to change
after such date. Except as required by law, we assume no obligation
to update any forward-looking statements publicly, or to update the
reasons actual results could differ materially from those
anticipated in any forward-looking statements, even if new
information becomes available in the future. The forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
Contact
Information
|
Investor
Contacts
|
Trio
Resources, Inc.
|
KCSA
Strategic Communications
|
Toll-Free:
855.321.TRIO (8746)
|
Todd
Fromer / Philip Carlson
|
Fax:
855.321.4335
|
+1
212.896.1215 / +1 212.896.1233
|
www.trioresources.com
|
tfromer@kcsa.com / pcarlson@kcsa.com
|
SOURCE Trio Resources, Inc.