(via Thenewswire.ca)
Vancouver, British Columbia - February 25, 2013 - Trijet Mining Corp. (the "Company") (TSX.V: TJT) further to the news release dated February 22, 2013 the Company will proceed with the consolidation of its share capital on the ratio of one new share for two old shares and the Company announces that a post consolidated non-brokered private placement consisting of up to 40,000,000 units (the "Units") at a purchase price of $0.05 per Unit to raise gross proceeds of up to $2,000,000 (the "Private Placement"). Each unit will consist of one common share in the capital of the Company and one share purchase warrant (a "Warrant"). Each full warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of five years, at a purchase price of $0.10 per Share.
The Company may pay a finder's fee in connection with the Private Placement within the maximum amount permitted by the policies of the Exchange. Certain directors, officers and insiders of the Company may participate in the Private Placement. The Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The net proceeds from the Private Placement will be used by the Company for general working capital.
About Trijet Mining Corp.
Trijet Mining Corp. is a resource exploration company focused on the exploration of the Letourneur Property in the Abitibi region of southwestern Quebec. Management will also continue to review other opportunities in the resource sector.
The Company's Letourneur property is located in the Abitibi region of southwestern Quebec, 41 km north of Rouyn-Noranda. The property consists of 95 mineral claims for a total area of approximately 4,351 hectares. The property is easily reached by paved and gravel roads and the main showing sits only 1 km from a well-maintained gravel road.
A two phase drilling campaign was conducted by Trijet Mining consisting of 14 drillholes totaling 2,190 meters and completed during the period of May to September 2010; the second program in the Fall of 2011 consisted of 8 additional drillholes for 944 metres.
Further work is contemplated on the Letourneur Property.
ON BEHALF OF THE BOARD OF DIRECTORS OF TRIJET MINING CORP.
"Jag Bal"
Jag Bal
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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