VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV)(TSX: TV.WT)(OTCQX: TREVF)(LMA: TV)(FRANKFURT: 4TI) is pleased to announce that it has entered into a Limited Environmental Liability Agreement ("Agreement") with the Province of New Brunswick ("Province") regarding the historic environmental liabilities ("Historic Liabilities") at the Caribou mine and mill complex located in the Bathurst Mining Camp. Under the Agreement, Trevali will be responsible for all environmental liability and reclamation costs associated with the Caribou Mine on closure, other than in respect to any historic liabilities.
"This is an important milestone in the Trevali project and will bring it one step closer to creating many jobs in Bathurst region. At the same time it will be critical in helping to protect the environment for many years to come. The province of New Brunswick will continue to work closely with the Trevali team to assure success in re-activating Caribou operations. We look forward to our continued working partnership with the company," said New Brunswick's Energy and Mines Minister Craig Leonard.
"We are very pleased to complete this milestone with the Province of New Brunswick following our recent acquisition of the Caribou mine and mill in the Bathurst Mining Camp," stated Dr. Mark Cruise, Trevali's President and CEO. "With this agreement in place Trevali can now move another step forward in its near-term activation plans for its Caribou and Halfmile operations, which will form the foundation for the Company's long-term growth strategies in the Bathurst Mining Camp."
The Agreement is based upon a report entitled "Program for the Protection, Reclamation, and Rehabilitation of the Environment" ("Reclamation Plan") prepared by Stantec Consulting Ltd. and submitted to, and approved by, the New Brunswick Department of Energy and Mines.
In keeping with the Company's corporate philosophy to minimize environmental impact, Trevali will also use its best efforts to use existing waste rock stored on surface at Caribou, in the form of roads, containment dikes and waste dumps, as backfill in the underground operations. Additionally Trevali has agreed to allow the Province the option to store and dispose of Restigouche mine waste rock at the Caribou site, thereby providing the Province with a lower-cost and fast-track reclamation solution for the former Restigouche site.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals development company with active operations in Canada and Peru.
In Peru, the Company is nearing production at its Santander zinc-lead-silver mine where commissioning is scheduled to commence in Q1-2013 with subsequent ramp up to full 2,000-tonnes-per-day production.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat polymetallic deposit all located in the Bathurst Mining Camp of northern New Brunswick. Initial trial production from the Halfmile mine was successfully undertaken in 2012 and the Company anticipates commencing operations at its 3,000-tonne-per-day Caribou Mill Complex in late-2013.
All of the Company's deposits remain open for expansion.
The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol TV). Warrants to purchase common shares of Trevali are listed on the TSX (symbol TV.WT). For further details on Trevali, readers are referred to the Company's website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of TREVALI MINING CORPORATION
Mark D. Cruise, President
This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the company does not intend, and does not assume any obligation to, update such statements containing the forward-looking information. Such forward-looking statements and information include, but are not limited to statements as to: the accuracy of estimated mineral reserves and resources, anticipated results of future exploration, and forecast future metal prices, anticipated results of future electrical sales and expectations that environmental, permitting, legal, title, taxation, socio-economic, political, marketing or other issues will not materially affect estimates of mineral reserves. These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.
These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release and the company has made assumptions and estimates based on or related to many of these factors.
Such factors include, without limitation: fluctuations in spot and forward markets for silver, zinc, base metals and certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in currency markets (such as the Peruvian sol versus the U.S. dollar); risks related to the technological and operational nature of the Company's business; changes in national and local government, legislation, taxation, controls or regulations and political or economic developments in Canada, the United States, Peru or other countries where the Company may carry on business in the future; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining,; diminishing quantities or grades of mineral reserves as properties are mined; global financial conditions; business opportunities that may be presented to, or pursued by, the Company; the Company's ability to complete and successfully integrate acquisitions and to mitigate other business combination risks; challenges to, or difficulty in maintaining, the Company's title to properties and continued ownership thereof; the actual results of current exploration activities, conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors; increased competition in the mining industry for properties, equipment, qualified personnel, and their costs. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
Trevali's production plans at Caribou-Halfmile-Stratmat and Santander are based only on Indicated and Inferred Mineral Resources and not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is therefore no certainty that the conclusions of the production plans and Preliminary Economic Assessment (PEA) will be realized. Additionally where Trevali discusses exploration/expansion potential, any potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
The TSX has not approved or disapproved of the contents of this news release.
Trevali Mining Corporation
VP, Investor Relations and Corporate Communications
(604) 488-1661 / Direct: (604) 638-5623
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