VANCOUVER, BC, May 17, 2022
/CNW/ - Trevali Mining Corporation ("Trevali" or the
"Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) reports that search and
rescue team members reached the refuge chamber below Level 520 in
the Perkoa Mine in Burkina Faso.
The refuge chamber was found intact and with no one inside. It is
now clear that none of the eight missing workers reached the refuge
chamber.
The Company's search crews will continue to work at maximum
capacity, 24-hours-per-day until the missing individuals are
recovered.
"This is devastating news, and we would like to offer our
deepest sympathies to our colleagues' families and friends during
this difficult time," said Ricus Grimbeek, President and CEO. "We
will continue our search efforts unabated and reaffirm our
commitment to work at full-speed to find our colleagues."
Senior representatives of Trevali and the Perkoa Mine mining
contractor Byrnecut have been in close communication with the
families of the missing workers throughout the search process and
will continue to offer support. The Company will also continue to
work alongside the Burkinabe authorities and is grateful for the
search assistance received from them as well as the Burkina Faso mining community. Out of respect
for privacy of the workers' families and friends, the Company will
not be publicly disclosing the names of the workers.
The Company will provide further details as more information
becomes available.
About Trevali Mining Corporation
Trevali is a global base-metals mining Company headquartered in
Vancouver, Canada. The bulk of
Trevali's revenue is generated from zinc and lead concentrate
production at its three operational assets: the 90%-owned Perkoa
Mine in Burkina Faso, the
90%-owned Rosh Pinah Mine in Namibia, and the wholly owned Caribou Mine in
northern New Brunswick, Canada. In
addition, Trevali owns the Halfmile and Stratmat Properties and the
Restigouche Deposit in New Brunswick,
Canada. Trevali also owns an effective 44% interest in the
Gergarub Project in Namibia. The
Company's growth strategy is focused on the exploration,
development, operation, and optimization of properties within its
portfolio, as well as other mineral assets it may acquire that fit
its strategic criteria. Trevali's vision is to be a responsible,
top-tier operator of long-life, low-cost mines in stable pro-mining
jurisdictions. Trevali is committed to socially responsible mining,
working safely, ethically, and with integrity. Integrating
responsible practices into its management systems, standards, and
decision-making processes is essential to ensuring everyone and
every community's long-term sustainability.
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.
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. In certain cases, forward-looking
statements can be identified by the use of words such as "plans",
"expects", "outlook", "guidance", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", "will
be taken", "occur" or "be achieved" or the negative of these terms
or comparable terminology. 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 recovery efforts at
Perkoa including the Company's plans with respect thereto,
the efficacy of the Company's pumping, decline ramp rehabilitation
and de-watering activities and its efforts to restore electrical
power and communications at the lower levels of Perkoa, the
Company's ability to effectively dewater the mine and restore
access to the lower levels of Perkoa, the results of any
investigation of the flooding incident, the Company's assessment of
the effect of the flooding on the safety and structural integrity
of Perkoa's underground areas, the effect of the flooding on the
cost of production at Perkoa, the length of time before underground
mining operations can be recommenced safely at Perkoa, if at all,
and the effect of the suspension of mine and milling
operations at Perkoa on the Company's results of operations
and metal production. As well, forward looking statements relate to
the Company's growth strategies, the continued success of mineral
exploration, the content, cost, timing and results of future
exploration programs and life of mine expectancies, Trevali's
ability to fund future exploration activities, estimation of
mineral reserves and mineral resources, the realization of mineral
reserve estimates, the timing and amount of estimated future
production, costs of production and capital expenditures, success
of mining operations, environmental risks, unanticipated
reclamation expenses and title disputes or claims. 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 the Company's
search efforts and plans to remedy the impact of the flooding at
the Perkoa Mine, including that such efforts and plans will not be
effective or achieve their desired outcomes; actual results of
current exploration activities, including the inherent uncertainty
of mineral exploration and estimations of exploration targets;
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, including any new or ongoing decrees and regulations
issued by any governmental authority in response to the COVID-19
pandemic; compliance with governmental regulations; 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
of the mining industry including, without limitation, 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