(via Thenewswire.ca)
Calgary, AB / TheNewswire / May 21, 2015 - Trio Gold Corp. ("Trio") announces that subject to the approval of the TSX venture exchange, the company proposes a non- brokered private placement of up to 10 million units at a price of 2 cent per unit. Each unit will consist of two common shares and one warrant. Each warrant will entitle the holder to purchase one common share for a period of three years from the closing date of the private placement at a price of 3 cents.
The proceeds of the financing will be used for working capital and advancement of the Trio's McNeil and Rodeo Creek properties. The McNeil property located in the Timmins area of Ontario Canada covers an area of approximately 10,200 acres (4,127 hectares). The McNeil property contains a number of gold showings and old workings dating back to the early 1920's. Gold showings and past workings include a number of high-grade shafts, such as the Isadore Shaft, 8Ft Shaft and Laporte Shaft along with numerous reported gold showings. One such notable gold showing just north of the 8 foot shaft, the MicMac Showing, was examined in 2002 by L. Jensen working for the Ontario Geological Survey, who collected Gold samples of 17.6g/ton, 26.7g/ton and 3.2g/ton. (OGS Report File 5931). These are reported historical values reported from previous operators but are not NI43-101 compliant.
The Rodeo Creek property is located in the Northern portion of the Carlin Gold Trend in Nevada. This property is adjacent to Barrick Gold Corp's recently permitted South Arturo Gold mine, slated for production later this year. The Storm deposit owned and mined by Barrick Gold Corp. is located approximately 1.5 km to the south east. Past drilling conducted by Trio encountered various grades of gold ranging from minor shows up to 0.865 opt. Harry Ruskowsky states, "Rodeo Creek is strategically located in line with producing gold mines within the Carlin Trend and Trio feels that there is an excellent chance for a discovery".
Trio also wishes to report that Dr. Earl Abbott, P.Geol. has resigned from our Board of Directors due to personal reasons, however, Dr. Abbott, P.Geol. will remain our consulting geologist for the Rodeo Creek Project. The Board of Directors wishes to thank Dr. Abbott for his contribution to the advancement of our Rodeo Creek project he will become the qualified person for purposes of NI43-101 Rodeo Creek reporting.
This press release has been reviewed and approved by Ms. Chartier MSc., MBA, P. Geol. , Trio's qualified person for NI43-101 reporting.
For further information on the contents of this news release or the activities of the Company, contact Mr. Harry Ruskowsky, President and CEO at (403) 262-9640.
Trio Gold Corp.
Suite 145-251 Midpark Blvd. SE
Calgary, Alberta T2X-1S3
Phone: (403) 262-9640
E-mail:press@triogold.com Website: www.triogold.com
CUISPa#89669C-108, Exemption #82-2127
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