TriMetals Mining Inc. Closes Final Tranche of its Non-Brokered Private Placement, raising an aggregate of $1,654,250

VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- TriMetals Mining Inc. (TSX:TMI) (the “Company” or “TMI”) is pleased to announce the closing on March 2, 2018 of the second and final tranche of its non-brokered private placement (the “Private Placement”), raising gross proceeds of $442,500 from the sale of 2,950,000 units (the “Units”) priced at $0.15 per Unit.  In aggregate, the Company sold 11,028,333 Units and raised $1,654,250 pursuant to the Private Placement. 

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant”). Each Warrant is exercisable by the holder to acquire one additional common share of the Company at a price of $0.25 for a period of 24 months, subject to accelerated expiry if, at any time after four months and one day following closing, the closing price of the Company’s common shares on the Toronto Stock Exchange (the “TSX”) is $0.35 or above per common share for a period of 10 consecutive trading days.

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.

Eric Edwards, the Company’s President and Chief Executive Officer commented, “We are pleased with the market response to our financing, and are glad to make additional room to accommodate current and new shareholder demand.”

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (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, oxide, heap-leachable Gold Springs gold project in mining friendly Utah and Nevada USA, and the Escalones copper-gold skarn/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 shares are listed on the Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the common shares and Class B⁽¹⁾ 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.

1. Note that the 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 TMI 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 (the “Bolivia Arbitration”). 

TriMetals Mining Inc. Contact:

Forward-looking Statements
Certain statements contained herein, including the Private Placement providing the ability to commit to a substantial 2018 exploration program at Gold Springs and explore strategic options to realize value from Escalones copper project, 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, 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.