Additionally, Trevali will subscribe for CDN$500,000 worth of units (the " Units") of Puma at an issue price equal to the five-day volume weighted average trading price of Puma's common shares ending on the date of announcement of the placement and terms of the letter agreement, subject to a permissible discount pursuant to the rules of the TSX Venture Exchange. Each Unit will consist of one common share and one-half of a warrant, with the warrants being fully transferrable, having a three-year term and an exercise price set 30% above the issue price of the common shares that form a part of the Units. The proceeds will be used to advance the Alliance.Murray Brook DepositThe Murray Brook Deposit is located approximately ten kilometres west of Trevali's operating Caribou mine along Provincial Highway 180 and is comprised of 484 hectares under Mining Lease 252. Geologically it is formed of a large low to moderate grade massive sulphide body within which higher grade zones occur. The system is divided into two distinct domains, the Zn-Pb rich West Zone which is approximately 200-metres wide, extending from surface to approximately 300-metres depth and with a true thickness varying from 75-100 metres. The Cu-Au rich East Zone is approximately 100-metres wide, also extending from surface to approximately 300-metres depth. Murray Brook has a currently defined National Instrument 43-101 measured and indicated sulphide mineral resource of 5.28 million tonnes averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65 g/t gold containing approximately 610 million pounds of zinc, 209 million pounds of lead, 54 million pounds of copper, 11.7 million ounces of silver and 111,000 ounces Au (based on Puma's December 21, 2016 news release and associated report lodged on SEDAR). Table 1 : Murray Brook Underground Mineral Resource Estimate at C$85/t NSR Cut-Off (based on Puma's December 21, 2016 news release)
|Zone||Category||Tonnes ('000's)||Cu %||Cu M lb||Pb %||Pb M lb||Zn %||Zn M lb||Au g/t||Au K oz||Ag g/t||Ag M oz|
Qualified Person and Quality Control/Quality AssuranceEurGeol Dr. Mark D. Cruise, Trevali's President and CEO, is a qualified person as defined by NI 43-101, has supervised the preparation of and has verified the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company as he is an officer, director and shareholder.ABOUT TREVALI MINING CORPORATIONTrevali is a zinc-focused, base metals company with four mines: the wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, its 80% owned Rosh Pinah mine in Namibia and its 90% owned Perkoa mine in Burkina Faso. For further details on Trevali, please refer to the Company's website (www.trevali.com) and to its Canadian regulatory filings on SEDAR at www.sedar.com. On Behalf of the Board of Directors of TREVALI MINING CORPORATION "Mark D. Cruise" (signed)Mark D. Cruise, President Contact Information:Steve Stakiw, Vice President - Investor Relations and Corporate CommunicationsEmail: email@example.comPhone: (604) 488-1661 / Direct: (604) 638-5623 Cautionary Note Regarding Forward-Looking Statements 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 completion of the acquisition of the option, the completion of the acquisition of the Units and the formation of the strategic exploration alliance; the accuracy of estimated Mineral Resources, anticipated results of future exploration, and forecast future metal prices, expectations that environmental, permitting, legal, title, taxation, socio-economic, political, marketing or other issues will not materially affect estimates of Mineral Resources; and the expected length of operations at the Caribou mill. 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; 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, Namibia, Burkina Faso, 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 resources 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.
We advise US investors that while the terms "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" are recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize these terms. US investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into reserves.