VANCOUVER, B.C., Jan. 30, 2018 (GLOBE NEWSWIRE) --
NOT FOR DISTRIBUTION TO US NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
TriMetals Mining Inc. (TSX:TMI) (OTCQX:TMIAF) (the “Company”) announces a
non-brokered private placement (the "Private Placement") of up to 10,000,000 units (the "Units")
at a price of CAD$0.15 per unit to raise aggregate gross proceeds of up to CAD$1,500,000. Each Unit will consist of one common
share and one-half of one common share purchase warrant of the Company (each whole warrant, a
"Warrant").
Each Warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.25 for
a period of 24 months (the “Expiry Date”) from the closing of the Private Placement (“Closing
Date”) provided that, if at any time after four months and one day following the Closing Date, and prior to the Expiry
Date, the closing price of the common shares is CAD$0.35 or above during a 10 consecutive trading day period, the Warrants will
expire 30 days after the date on which the Company provides notice of such fact to the holders thereof.
The net proceeds from the Private Placement will be used for exploration of the Company’s Gold Springs project
in Nevada, working capital and general corporate purposes.
The securities issued under the Private Placement will be subject to a four-month hold period from the Closing
Date. The Private Placement is subject to receipt of regulatory approval. Finder’s fees of up to 7% may be payable in cash under
the Private Placement.
The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S.
state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States
persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and
applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to
buy securities in the United States, nor in any other jurisdiction.
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and
development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A. and the
Escalones copper-gold porphyry deposit in Chile. The Company combines a track record of discovery and advancement of large
projects, mining and exploration supportive jurisdictions, low political risk areas, key operational and process expertise, and a
focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining
industry.
The Company’s common shares and Class B(1) shares are listed on the Toronto Stock Exchange under the
symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on the OTCQX market under the symbol “TMIAF” and
“TMIBF”. Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
Note:
- Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the
net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder’s portion thereof) received by the
Company from award or settlement in relation to the Company’s subsidiary South American Silver Limited’s arbitration proceeding
against Bolivia for the expropriation of the Malku Khota project in 2012.
TriMetals Mining Inc. Contact:
Eric Edwards
President & CEO
eedwards@trimetalsmining.com
Forward-looking Statements
Certain statements contained herein constitute “forward-looking statements”. Forward-looking statements look
into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements
may include words such as “expect”, “plan”, “seek”, “continue”, “typical”, “will”, “intention”, “creating”, “and similar
expressions. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual
results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current
expectations expressed or implied by the forward-looking statements, include, but are not limited to, the closing of the
Private Placement, the proposed use of the net proceeds of the Private Placement; risks of the mineral exploration
industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources or grade,
recovery rates, metal prices, availability of sufficient financing to fund further required work in a timely manner and on
acceptable terms, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated,
changes in project parameters as plans continue to be refined; and other risks more fully described in the Company's Annual
Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking
statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other
exploration results; the continuing support for mining by local governments in Nevada, Utah and Chile, the availability of
equipment and qualified personnel to advance the Gold Springs project; and the execution of the Company's existing plans and
further exploration and development programs for the Gold Springs Project, which may change due to changes in the views of the
Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news
release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or any other reason.
