Trevali Issues Statement on Government Declaration of National Emergency in Peru; Santander Mine Continues to Operate
March 17 2020 - 11:00PM
Trevali Mining Corporation (“Trevali” or the “Company”)
(TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) announced
today that the Peruvian Government has issued a Supreme Decree and
declaration of a National Emergency in its efforts to contain the
outbreak of COVID-19. The declaration restricts travel within the
country and requires citizens to remain at home except to travel to
grocery stores, banks and medical facilities. The state of
emergency took effect today and will last for the next 15 days.
Mining projects and operations that have a remote workforce that is
housed by a camp are permitted continue to operate as usual during
the 15-day period.
The Santander mine is in full compliance with
the Government’s requirements and as a remote operation with a
workforce that is housed by a camp is expected to remain in
operation for the 15-day period. If the term is extended beyond the
15 days and further flexibility to operate mining complexes is not
provided, then the operation will need to ramp down.
Ricus Grimbeek, President and CEO stated, “We
are monitoring the situation in Peru and all our operations very
closely. Our priority is to the health and safety of our workers.
We are well prepared to keep the Santander mine going for the next
15 days and are arranging a ramp down program in the event the
state of National Emergency is extended. We will continue to
monitor the situation and will provide a further update as things
progress.”
ABOUT TREVALI
Trevali is a global base-metals mining company,
headquartered in Vancouver, Canada. The bulk of Trevali’s revenue
is generated from base-metals mining at its four operational
assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned
Rosh Pinah Mine in Namibia, the wholly-owned Caribou Mine in
northern New Brunswick, Canada and the wholly-owned Santander Mine
in Peru. In addition, Trevali owns the Halfmile and Stratmat
Properties and the Restigouche Deposit in New Brunswick, Canada,
and the past-producing Ruttan Mine in northern Manitoba, Canada.
Trevali also owns an effective 44%-interest in the Gergarub Project
in Namibia, as well as an option to acquire a 100% interest in the
Heath Steele deposit located in New Brunswick, Canada.
The shares of Trevali are listed on the TSX
(symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange
(symbol TV), and the Frankfurt Exchange (symbol 4TI). 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.
Investor Relations Contact:Brendan Creaney –
Vice President, Investor RelationsEmail: bcreaney@trevali.comPhone:
+1 (778) 655-6070
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release contains “forward-looking
information” within the meaning of Canadian securities legislation
and “forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively, “forward-looking statements”). Forward-looking
statements are based on the beliefs, expectations and opinions of
management of the Company as of the date the statement are
published, and the Company assumes no obligation to update any
forward-looking statement, except as required by law.
Forward-looking statements relate to future events or future
performance and reflect management’s expectations or beliefs
regarding future events including, but not limited to, statements
with respect to the Company’s operations, including the impact on
the Santander mine of the national state of emergency declared by
the Peruvian government in response to the COVID-19 pandemic, the
Company’s growth strategies and planned development activities. By
their very nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, risks related to
changes in project parameters as plans continue to be refined;
future prices of zinc, lead, silver and other minerals and the
anticipated sensitivity of our financial performance to such
prices; possible variations in ore reserves, grade or recoveries;
dependence on key personnel; potential conflicts of interest
involving our directors and officers; labour pool constraints;
labour disputes; availability of infrastructure required for the
development of mining projects; delays or inability to obtain
governmental and regulatory approvals for mining operations or
financing or in the completion of development or construction
activities; counterparty risks; increased operating and capital
costs; foreign currency exchange rate fluctuations; operating in
foreign jurisdictions with risk of changes to governmental
regulation; compliance with governmental decrees and regulations,
including any new or ongoing decrees and regulations issued by a
governmental authority in response to the COVID-19 pandemic;
compliance with environmental laws and regulations; land
reclamation and mine closure obligations; challenges to title or
ownership interest of our mineral properties; maintaining ongoing
social license to operate; impact of climatic conditions on the
Company’s mining operations; corruption and bribery; limitations
inherent in our insurance coverage; compliance with debt covenants;
competition in the mining industry; our ability to integrate new
acquisitions into our operations; cybersecurity threats; litigation
and other risks and uncertainties that are more fully described in
the Company’s annual information form, interim and annual audited
consolidated financial statements and management’s discussion and
analysis of those statements, all of which are filed and available
for review under the Company’s profile on SEDAR
at www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Trevali provides no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events may differ from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Source: Trevali Mining Corporation
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