HispanicBusiness

MONTREAL, QUEBEC -- (Marketwire) -- 01/22/13 -- Rio Moche Exploration Inc. a private mining company now continued in Canada and operating out of Montreal (formerly Trinity Mining Holding A.G. a Swiss company listed on the Frankfurt Exchange) is pleased to announce that it has closed on January 18, 2013 a $ 2,000,000 private placement with GoldCorp Inc. of Vancouver. Goldcorp has subscribed to 8,000,000 common shares of Rio Moche at a price of CDN $0.25 per share, representing 15.6% of Rio Moche's capital on a fully diluted basis.

As an inducement to enter into this private placement, Goldcorp was also granted (i) certain anti-dilution rights entitling it to participate in future equity offerings of Rio Moche, (ii) a right of first refusal in the event of the sale of Rio Moche's flagship Caupar property in Peru and (iii) a warrant entitling Goldcorp to enough treasury shares of Rio Moche to increase its interest to 51% of the total issued and outstanding shares of Rio Moche. This warrant can be exercised within five years of the closing at a price equal to the fair market value of the shares less the maximum discount allowed under the rules of the TSX Ventures Exchange.

Prior to the private placement, Rio Moche had 41,908,710 shares outstanding and 4,195,000 stock options issued.

The proceeds from the private placement will allow Rio Moche to drill test, by reverse circulation method, in wholly owned Caupar gold-silver property (subject to a 2.5% NSR in favor of Iamgold) located some 2.5 hours by road, east of the coastal city of Trujillo, Peru.

Infrastructural facilities including water and electricity are available near by and the property is within an area of intensive mining activities. Alto Chicama (Barrick), Quirovilca (Pan American Silver), La Arena (Rio Alto) etc.

According to the February 29, 2012 43-101 report by independent consulting geologist Alain Vachon, exploration programs carried by Trinity-Iamgold-Cambior, have allowed Sociedad Minera Trinity Peru S.A.C, a 100% owned subsidiary of Rio Moche, delineate a gold-silver mineralized oxidized zone, 3.0 km in length (N-E direction) by 700m wide and about 100 m in thickness, where more than 33% of all the rock and soil samples collected (1,081 out of 3,286) have returned gold values greater than 0.1 g/t Au. This oxidized zone overlies what could be a deeply seated porphyry copper system.

Discovery drill hole C-2008-04 by Trinity returned from surface, an average value of 0.341 g/t Au and 10.2 g/t Ag over a length of 73 m. The last 21 m were 0.78 g/t Au and 19 g/t Ag. Several widely spaced (500 m) parallel long (up to 700 m) trenches have been dug so as to intersect the two main perpendicular stockwork structures known to exist on the property and have given some good results such as: 0.26 g/t Au over 90 m and then 0.47 g/t Au over 78 m (tr-04), 0.29 g/t Au over 86 m (tr-02), 0.30 g/t Au over 210 m (tr-03) and on.

This kind of mineralization in oxidized material is typical of a low grade, large tonnage deposit that could lend itself to a run of mine and heap leaching operation. In similar environments in Peru, the Yanacocha (Newmont), Alto Chicama (Barrick), La Arena (Rio Alto) and Aruntani (Guido del Castillo) gold mines operate at a cut off grade as low as 0.11 g/t Au.