Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces
that processing plant commissioning, and zinc and lead-silver
concentrate production from its Santander Zinc-Lead-Silver Mine in
Peru continues to progress well.
During the month of September the Santander operations team has
steadily increased both mill throughput and head-grades to the
point that both are currently at the processing plant's nameplate
2,000-tonne-per-day design capacity.
Metallurgical recovery has also significantly increased during
the month as the processing plant operators continue to familiarize
themselves with the plant and mine feed characteristics.
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Tonnes processed year-to-date (approx.): 70,000 tonnes
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Zinc concentrate produced to date (approx.): 3,815 tonnes
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Average zinc concentrate grade: 49% Zn
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Lead-silver concentrate produced to date (approx.): 919 tonnes
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Average lead-silver concentrate grade: 55% Pb, 49 oz/T Ag
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Period Zinc recovery Lead recovery Silver recovery
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Since start-up 77% 74.5% 62.3%
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September 80.9% 77.6% 63.2%
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Note: Reported production is preliminary in nature and subject to regular
and ongoing reconciliation studies.
As part of the commissioning process, tonnages have been
increased from approximately 1,500-1,600 tonnes-per-day to full
nameplate 2,000 tonnes per day during the month. Mineral feed
head-grades have also steadily increased towards design capacity
and averaged 5.3% zinc, 1.6% lead and 1.7 oz/t silver from
September 17th to month end.
Trevali's consulting metallurgist, Mr. Len Holland, was on-site
during the month and made a series of recommendations that are
expected to further improve plant performance.
"We are extremely pleased with the rapid progress being achieved
at the Santander mill commissioning and ramp-up," stated Trevali
President and CEO Dr. Mark Cruise. "With nameplate capacity already
achieved, our operations team will continue to further improve mill
performance and metal recoveries."
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, a
qualified person as defined by NI 43-101, 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
operations in Canada and Peru.
In Peru, the Company has commenced commissioning and concentrate
production at its Santander zinc-lead-silver mine and metallurgical
plant with subsequent ramp up to 2,000-tonnes-per-day production
scheduled in Q4-2013.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine
and Stratmat polymetallic deposit all located in the Bathurst
Mining Camp of northern New Brunswick. Initial trial production
from the Halfmile underground mine was successfully undertaken in
2012 and the Company anticipates commencing operations at its
3,000-tonne-per-day Caribou Mill Complex in 2014.
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). Certain warrants to purchase common shares of Trevali are
listed on the TSX (symbol TV.WT). For further details on Trevali,
readers are referred to the Company's web site (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
This news release contains "forward-looking statements" within
the meaning of the United States private securities litigation
reform act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. Statements
containing forward-looking information express, as at the date of
this news release, the Company's plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or
results and the company does not intend, and does not assume any
obligation to, update such statements containing the
forward-looking information. Such forward-looking statements and
information include, but are not limited to statements as to: the
accuracy of estimated mineral reserves and resources, anticipated
results of future exploration, and forecast future metal prices,
anticipated results of future electrical sales and expectations
that environmental, permitting, legal, title, taxation,
socio-economic, political, marketing or other issues will not
materially affect estimates of mineral reserves. These statements
reflect the Company's current views with respect to future events
and are necessarily based upon a number of assumptions and
estimates that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies.
These statements reflect the Company's current views with
respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained in this
news release and the company has made assumptions and estimates
based on or related to many of these factors.
Such factors include, without limitation: fluctuations in spot
and forward markets for silver, zinc, base metals and certain other
commodities (such as natural gas, fuel oil and electricity);
fluctuations in currency markets (such as the Peruvian sol versus
the U.S. dollar); risks related to the technological and
operational nature of the Company's business; changes in national
and local government, legislation, taxation, controls or
regulations and political or economic developments in Canada, the
United States, Peru or other countries where the Company may carry
on business in the future; risks and hazards associated with the
business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
geological or structural formations, pressures, cave-ins and
flooding); risks relating to the credit worthiness or financial
condition of suppliers, refiners and other parties with whom the
Company does business; inadequate insurance, or inability to obtain
insurance, to cover these risks and hazards; employee relations;
relationships with and claims by local communities and indigenous
populations; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses and permits and the presence of laws and
regulations that may impose restrictions on mining; diminishing
quantities or grades of mineral reserves as properties are mined;
global financial conditions; business opportunities that may be
presented to, or pursued by, the Company; the Company's ability to
complete and successfully integrate acquisitions and to mitigate
other business combination risks; challenges to, or difficulty in
maintaining, the Company's title to properties and continued
ownership thereof; the actual results of current exploration
activities, conclusions of economic evaluations, and changes in
project parameters to deal with unanticipated economic or other
factors; increased competition in the mining industry for
properties, equipment, qualified personnel, and their costs.
Investors are cautioned against attributing undue certainty or
reliance on forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affecting such statements or information, other than as
required by applicable law.
Trevali's production plans at Caribou-Halfmile-Stratmat and
Santander are based only on Indicated and Inferred Mineral
Resources and not Mineral Reserves and do not have demonstrated
economic viability. Inferred Mineral Resources are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral
Reserves, and there is therefore no certainty that the conclusions
of the production plans and Preliminary Economic Assessment (PEA)
will be realized. Additionally where Trevali discusses
exploration/expansion potential, any potential quantity and grade
is conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
We advise US investors that while the terms "measured
resources", "indicated resources" and "inferred resources" are
recognized and required by Canadian regulations, the US Securities
and Exchange Commission does not recognize these terms. US
investors are cautioned not to assume that any part or all of the
material in these categories will ever be converted into
reserves.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities described herein have not been and will not
be registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States, absent such registration or an
applicable exemption from such registration requirements.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw VP, Investor
Relations and Corporate Communication (604) 488-1661 or Direct:
(604) 638-5623sstakiw@trevali.com www.trevali.com
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