News Feed Item

Trevali Reports Preliminary Economic Assessment of Caribou Zinc-Lead-Silver Mine in New Brunswick

Base case mine plan indicates post-tax IRR of 56.9%

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/14 -- Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces results of the independently prepared Preliminary Economic Assessment ("PEA") for its wholly-owned Caribou zinc-lead-silver mine and mill complex, located in the Bathurst Mining Camp of New Brunswick, Canada.

The base case PEA indicates positive economic results for the Caribou underground mining operation and mill complex with a pre-production capital expenditure of $36.3 million, a post-tax Internal Rate of Return ("IRR") of 56.9%, post-tax Net Present Value ("NPV") of $106 million at a 5% discount rate, and average annual payable production of approximately 93 million lbs. zinc, 32.5 million lbs. lead, 3.1 million lbs. copper, 730,000 ozs. silver and 1,500 ozs. gold (Table 1).

Caribou Mine Project Preliminary Economic Assessment Highlights:          
(based on US$1.00/lb Zn, US$1.00/lb Pb, US$3.00/lb Cu, US$21/oz Ag,       
 US$1200/oz Au and Canadian dollar exchange rate of US$0.95)              
IRR                  - Pre-tax IRR of 69% with a 1.9-year payback         
                     - Post-tax IRR of 56.9% with a 2.1-year payback      
NPV                  - Pre-tax NPV(5%) of $150 million                    
                     - Post-tax NPV(5%) of $106 million                   
Production Costs     - Direct LOM Cash Costs (C1) of US$0.46/lb zinc      
                     - Total Site Operating Cost of $74.77/tonne milled   
                       (includes mining, milling, G&A and Environmental)  
Capex                - Pre-production capital of $36.3 million            
Production (Payable) - Average annual payable production of 93 million    
                       lbs. Zn, 32.5 million lbs. Pb, 3.1 million lbs. Cu,
                       730,000 ozs. Ag and 1,500 ozs. Au                  
Mine Life            - Planned mine life of 6.3 years ("LOM")             
LOM Mill Feed        - Estimated Plant Feed(i) of 6,152,000 tonnes grading
                       6.11% Zn, 2.49% Pb, 0.34% Cu, 67.9 g/t Ag and 0.86 
                       g/t Au over LOM                                    
Recoveries           - Average LOM recoveries of 84% for Zn, 65% for Pb,  
                       45% for Cu, 37.5% for Ag and 10.6% for Au used in the
Employment and       - Estimated to provide approx. 300 permanent fulltime
Local/Regional         positions                                          
 Benefits            - Approx. $57.3 million in direct royalties and tax  
Table 1: Caribou Mine Project Base Case PEA Highlights                      
(i) The estimated plant feed is partly based on Inferred Mineral Resources  
that 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 no certainty that the preliminary economic   
assessment based on these Mineral Resources will be realized.               

"We welcome this preliminary economic assessment for our Caribou Mine with scheduled commissioning of operations in the first half of 2015," stated Dr. Mark Cruise, Trevali's President and CEO. "These results model a respectable return based on this initial base-case model and we believe that there is excellent potential for additional optimization given that approximately 3 million tonnes of mineralized material is presently not included in the mine plan and the deposit remains open for expansion. Given the project's sensitivity and leverage to zinc price, positive consensus forecasts for increasing zinc (and lead) prices should have a beneficial effect on the operations economics."

The re-start of the Caribou Mine Project, through the reactivation of the 3,000 tonne-per-day Caribou Mill Complex and the associated underground deposit, represents Trevali's initial strategy for its Bathurst Mining Camp operations in New Brunswick. Longer term plans, subject to ongoing technical studies, include the potential for a second stand-alone milling facility to support development of the Company's fully permitted Halfmile Mine and the Stratmat Deposit where drilling and baseline permitting programs are in progress.


The PEA study was conducted in accordance with the definitions in Canadian National Instrument 43-101. SRK Consulting (Canada) Inc. was the lead independent consultant, with contributions from other independent consultants commissioned by Trevali - Holland & Holland Consulting and Stantec Consulting. The PEA focuses on the polymetallic Caribou Mine and Mill Complex located approximately 50 kilometres west of Bathurst, New Brunswick. Caribou is situated just off of paved Provincial Highway 180 that connects the project to major road, rail and port infrastructure, including the deep water ocean port and smelting complex at Belledune approximately 80 kilometers to the northeast. Caribou is also connected to the New Brunswick Provincial Power Grid.

The Caribou Project has been valued using a discounted cash flow (DCF) approach. This method of valuation requires projecting yearly cash inflows, or revenues, and subtracting yearly cash outflows such as operating costs, capital costs, royalties, and provincial and federal taxes. Cash flows are taken to occur at the end of each period. The resulting net annual cash flows are discounted back to the date of valuation, second quarter of 2014, and totaled to determine net present values (NPVs) at the selected discount rates. The internal rate of return (IRR) is calculated as the discount rate that yields a zero NPV. The payback period is calculated as the time needed to recover the initial capital spent.

The results of the economic analysis represent forward-looking information that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented here.

Many costs within the PEA model are based on direct supplier/contractor quotations including the following:

--  Major mine mobile equipment quotations; 
--  Mining contractor quotations as cost base for development and
--  Material supply quotations; 
--  Building rehabilitation quotations; 
--  Consumables - fuel, power and explosives. 


The base case Caribou Mine Project PEA uses price assumptions of US$1.00/lb zinc, US$1.00/lb lead, US$3.00/lb copper, US$21.00/oz silver and US$1,200/oz gold. These prices are based on a review of consensus price forecasts from financial institutions and similar studies that recently have been published. The post-tax net present value (NPV) at variable discount rates, Internal Rates of Return (IRR) are shown in Table 2 illustrating sensitivities to variable zinc and lead prices.

Zinc                 Lead                                                 
Price               Price     NPV (0%)     NPV (5%)     NPV (8%)       IRR
(US$/lb)         (US$/lb)   (millions)   (millions)   (millions)       (%)
0.80                 0.80          $31          $16           $9        13
0.90                 0.90          $96          $68          $56        37
1.00                 1.00         $141         $106          $89        57
1.10                 1.10         $180         $138         $118        74
1.20                 1.20         $208         $161         $139        89
1.30                 1.30         $246         $192         $167       107
1.40                 1.40         $287         $226         $197       126

Zinc                 Lead                                                 
Price               Price     NPV (0%)     NPV (5%)     NPV (8%)       IRR
(US$/lb)         (US$/lb)   (millions)   (millions)   (millions)       (%)
0.80                 0.80          $45          $27          $19        18
0.90                 0.90         $122          $89          $73        45
1.00                 1.00         $199         $150         $128        69
1.10                 1.10         $275         $212         $182        93
1.20                 1.20         $350         $272         $235       116
1.30                 1.30         $424         $331         $287       139
1.40                 1.40         $498         $391         $340       161
Table 2: Caribou Economic Summary - Zinc and Lead Price Sensitivity         


The Caribou PEA underground mine plan models the extraction and processing of an initial 6,152,000 tonnes of mineralized material using a NSR Cutoff Value of $100 per tonne (Figure 1 & Table 3). This mine plan tonnage includes Measured, Indicated, and Inferred mineral resources. The Caribou PEA is based on SRK mineral resources as disclosed in the January 2013 NI 43-101 technical study by SRK Consulting (Canada) Inc. (Table 4 and see Trevali news release NR-13-01, January 17, 2013).

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TV0513.pdf

Cutoff           Tonnage                       Grade                      
------------------------ -------------------------------------------------
NSR$/tonne        tonnes      Zn %      Pb %      Cu %    Ag g/t    Au g/t
100                6.152      6.11      2.49      0.34     67.89      0.86

                         Contained Metal (millions of oz Au-Ag - millions 
Cutoff           Tonnage             of lbs Pb-Zn-Cu) in-situ             
------------------------ -------------------------------------------------
NSR$/tonne        tonnes        Zn        Pb        Cu        Ag        Au
100                6.152     828.3     337.1      45.6     13.43      0.17
Table 3: Estimated Plant Feed(i) for the Caribou Project to the 1920mEL mine
(i) The estimated plant feed is partly based on Inferred Mineral Resources  
that 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 no certainty that the preliminary economic   
assessment based on these Mineral Resources will be realized.               
Cutoff                 Tonnage                    Grade                    
--------            ---------- --------------------------------------------
ZnEq(i)                Million     Zn     Pb     Cu      Ag      Au    ZnEq
%         Class         Tonnes      %      %      %     g/t     g/t   (i) %
5         Measured        5.61   6.91   2.93   0.46   84.64    0.84   10.58
          Indicated       1.62   7.28   2.94   0.34   83.68    1.06   10.83
          M&I             7.23   6.99   2.93   0.43   84.43    0.89   10.64
          Inferred        3.66   6.95   2.81   0.32   78.31    1.23   10.47

                                 Contained Metal (millions of lbs Zn-Pb-Cu
Cutoff                 Tonnage        and millions of oz Ag-Au) in-situ    
--------            ---------- --------------------------------------------
ZnEq(i)                Million                                             
%         Class         Tonnes         Zn       Pb       Cu      Ag      Au
5         Measured        5.61     855.36   362.69    56.94   15.28    0.15
          Indicated       1.62     259.87   104.95    12.14    4.36    0.06
          M&I             7.23    1115.23   467.64    69.08   19.64    0.21
          Inferred        3.66     560.44   226.60    25.80    9.21    0.14
Table 4: Mineral Resource Statement(i), Caribou Project, Bathurst New       
Brunswick, SRK Consulting, January 17, 2013.                                
(i)ZnEq = ((Cu Grade x Cu Price x Cu Recovery)+(Pb Grade x Pb Price x Pb    
Recovery)+(Zn Grade x Zn Price x Zn Recover)+(Au Grade x Au Price x Au      
Recovery)+(Ag Grade x Ag Price x Ag Recovery))/Zn Price. In calculating     
ZnEq, SRK Consulting (Canada) Inc. utilized the long term metal prices      
provide by Energy & Metals Consensus Forecast. Price for Au is $1470 per    
ounce, Ag is $26 per ounce, Cu is $3.39 per pound, Pb is $1.18 per pound,   
and Zn is $1.14 per pound. A recovery of 83% was applied to Zn, 71% was     
applied to Pb, 57% was applied to Cu, 45% was applied to Ag, and 40% was    
applied to Au. The pounds of metal are in-situ and have not had any mining  
factors applied to them.                                                    

The total mineralized materials above $100/tonne NSR Cutoff Value within the crown pillar and below the 1920 mEL level, the "Future Mine Plan Area", are 532,000 tonnes at grades 6.85% Zn, 2.85% Pb, 0.37% Cu, 85.31 g/t Ag, and 1.12 g/t Au. They are not included in the current mine plan (Figure 1). In addition, there are 3.06 million tonnes of mineralized materials excluded from current mining plan at grades 7.11% Zn, 2.91% Pb, 0.39% Cu, 82.88 g/t Ag, and 1.00 g/t Au. Reasons for the excluded amounts include parallel zones where only one zone can be mined, stand-off distances from historical mining areas, areas too narrow relative to the current minimum mining width, and isolated areas.

Based on potential opportunity identified by SRK, Trevali is currently assessing the requirements to potentially incorporate some of this additional resource tonnage into the mine plan.

The Caribou Deposit mineralization remains open for expansion, with drill intercepts encountering significant mineralized intervals outside of the current resource shell.


Underground operations will take advantage of the extensive in-place historical development and infrastructure. A centralized ramp-trucking system will serve as the main access for the mine. The main mining method will be Modified Avoca with waste rock backfill, with the exception of a longhole retreat mining method for partial sill pillar recovery near the end of mine life.

The processing circuit will consist of a 3,000-tonne-per-day Semi-Autogenous Grinding and milling circuits (including fine-grinding IsaMills) with standard sulphide flotation recovery circuits to produce three concentrates: zinc, lead-silver and copper-gold. The average LOM modelled head grade for mill feed is 6.11% Zn, 2.49% Pb, 0.34% Cu, 67.9 g/t Ag and 0.86 g/t Au. LOM metallurgical recoveries used in the PEA are 84% for Zn, 65% for Pb, 45% for Cu, 37.5% for Ag and 10.6% for Au. No optimization of precious metal recoveries has occurred to date but is being evaluated.

Projected payable metal production from the planned Caribou Mine operation is summarized in Table 5 and the annual production schedule based on the initial base case mine plan is presented in Table 6.

Commodity     Average Annual Payable Production   LOM Payable Production
Zinc                             93,000,000 lbs          584,500,000 lbs
Lead                             32,500,000 lbs          204,500,000 lbs
Copper                            3,100,000 lbs           19,500,000 lbs
Silver                              730,000 ozs            4,600,000 ozs
Gold                                  1,500 ozs               10,000 ozs
Table 5: Projected payable metal production                                 

LOM concentrate grades are expected to average 50% Zn in the zinc concentrate, 45% Pb in the lead concentrate, and 20% Cu in the copper concentrate. The precious metals report to both the Pb and Cu concentrates which maximizes payability. Future metallurgical test work will seek to enhance recoveries.

                     Unit             2015       2016       2017       2018
Tonnes per Day       t/d             2,333      2,724      3,000      2,987
Total Production     kt                852        994      1,095      1,090
Zn Grade             %               5.82%      6.27%      6.13%      5.98%
Pb Grade             %               2.49%      2.63%      2.52%      2.45%
Cu Grade             %               0.33%      0.33%      0.34%      0.40%
Ag Grade             g/t             68.74      73.71      67.58      70.78
Au Grade             g/t              0.59       0.70       0.85       0.84
Contained Zn         000 lbs       109,241    137,552    147,977    143,704
Contained Pb         000 lbs        46,768     57,639     60,718     58,993
Contained Cu         000 lbs         6,225      7,219      8,324      9,563
Contained Ag         000 oz          1,882      2,356      2,379      2,482
Contained Au         000 oz             16         22         30         29

                     Unit             2019       2020       2021      Total
Tonnes per Day       t/d             3,000      2,586        225           
Total Production     kt              1,095        944         82      6,152
Zn Grade             %               6.44%      5.97%      5.55%      6.11%
Pb Grade             %               2.64%      2.20%      1.97%      2.49%
Cu Grade             %               0.30%      0.32%      0.29%      0.34%
Ag Grade             g/t             71.31      56.13      43.66      67.89
Au Grade             g/t              0.84       1.28       1.26       0.86
Contained Zn         000 lbs       155,571    124,270     10,030    828,345
Contained Pb         000 lbs        63,648     45,776      3,554    337,096
Contained Cu         000 lbs         7,225      6,571        516     45,643
Contained Ag         000 oz          2,511      1,703        115     13,428
Contained Au         000 oz             30         39          3        170
Table 6: Production Schedule based on the Initial Base Case 6.3-year LOM    


Projected capital and operating costs in the PEA over the planned 6.3-year mine life are summarized in Tables 7 and 8:

                           LOM Capital  Initial Capital  Sustaining Capital
 Items                     (Million $)      (Million $)         (Million $)
 UG Mine Mobile                                                            
  Equipment                       21.5              0.0                21.5
 UG Mine Infrastructure           23.0              9.0                14.0
 UG Contingency (Mobile                                                    
  & Infrastructure)                6.0              0.0                 6.0
 UG Mine Mobile &                                                          
  Subtotal                        50.5              9.0                41.6
 Underground Mine                                                          
  Development                     26.5              6.2                20.3
 Mine Energy                       1.1              0.1                 1.0
 Mine Total                       78.2             15.3                62.9
 Tailings & Other Ponds           23.4              1.1                22.3
 Grinding                          3.5              3.4                 0.1
 Flotation, incl. Adding                                                   
  Cu Circuit                       5.4              5.4                 0.0
 Dewatering Zn/Pb/Cu               1.6              1.6                 0.0
 Concentrate Storage &                                                     
  Handling                         2.7              1.2                 1.6
 Reagent Mixing                    0.8              0.8                 0.0
 Services                          1.3              0.8                 0.5
 Misc. Equipment                   1.2              1.2                 0.0
 Milling and Tailing                                                       
  Total                           39.9             15.5                24.4
 Environmental                     1.6              1.2                 0.3
 Project General &                                                         
  Administration                   5.4              4.2                 1.2
 Project Grand total             125.1             36.3                88.8
Table 7: Estimated LOM Caribou Project Capital Costs                        
Items                             Unit                     Values
Mining                            $/t-Milled                37.06
Milling                           $/t-Milled                30.14
G&A                               $/t-Milled                 5.99
Environmental                     $/t-Milled                 1.59
Total Site Operating Cost         $/t-Milled                74.77
Table 8: Estimated LOM Caribou Operating Costs                              

A direct LOM Cash Cost (C1) of US$0.46/lb of ZnEq(i) is modeled in the PEA.

(i)ZnEq payable pounds produced = ((Zn Payable lbs Produced x Zn Price)+(Pb Payable lbs Produced x Pb Price)+(Cu Payable lbs Produced x Cu Price)+ (Au oz Payable Produced x Au Price)+(Ag oz Payable Produced x Ag Price))/Zn Price.

Key assumptions used in the economic analysis within the PEA are summarized in Table 9.

                   Metal Price           
         ------------------------------      Mill                          
Item           Unit    In USD    In CAD  Recovery   Payable Off-site Costs
Zn             $/lb      1.00      1.05     84.0%       85%     TC/RC,    
-----------------------------------------------------------  Deductibles  
Pb             $/lb      1.00      1.05     65.0%       95%   Vary with   
-----------------------------------------------------------    Smelter    
Cu             $/lb      3.00      3.16     45.0%       95%   Location,   
----------------------------------------------------------- Smelter Terms 
Ag             $/oz     21.00     22.11     37.5%       95% and Conditions
Au             $/oz   1200.00   1263.16     10.6%       95%               
Base Case Discount Rate                        5%                         
Exchange Rate (US$/C$)                       0.95                         
Schedule 1 - NB 2% Royalty                     2%                         
Schedule 2 - NB 16% Royalty                   16%                         
10% NPI - Fern Trust based on Taxable Profit  10%                         
Provincial Income Tax                         12%                         
Federal Income Tax                            15%                         
Table 9: Key Assumptions Used in Economic Analysis                          


Company                          Responsibilities                          
SRK Consulting (Canada) Inc.     Underground mine modeling, General &      
 in collaboration with Trevali   Administration (G&A) costing and project  
Stantec Consulting               Environmental and permitting              
Len Holland, Holland & Holland   Metallurgical and processing              


There are two major risks identified that could adversely affect the project economics:

--  Mine rehabilitation and drift slashing (for increased size). The mine is
    only about 40% dewatered at the time of mine planning. There are
    uncertainties related to the time required for full dewatering, and
    uncertainties regarding the total quantity and scheduling of the
    rehabilitation/slashing work that will ultimately be required. An
    increased quantity of rehabilitation/slashing work and/or schedule
    delays could adversely affect the PEA economic results; 
--  External dilution. There is a risk of increased external dilution beyond
    the planned amount. This would reduce the mill head grade and impact on


Opportunities for optimizations and potential enhanced economics have been identified within the preliminary economic assessment including:

--  Potential to maximize sill pillar recovery by replacing waste backfill
    with paste backfill. The current mine plan models an overall low sill
    pillar recovery of 27.2% due to the unconsolidated waste rock backfill
    planned for placement immediately above the sill levels. The potential
    advantages of using paste backfill include: 
    --  Increase sill pillar recovery to nearly 100% which could bring up to
        1.5 million tonnes of plant feed into the mine plan at grades of
        6.00% Zn, 2.59% Pb, 0.29% Cu, 71.75 g/t Ag, and 0.75 g/t Au, thereby
        extending the mine life with minimal additional development
    --  Increase stope productivity and shortened stope cycle time, thus
        increasing stope stability and improving external dilution control; 
    --  Reduced backfill operating cost; 
    --  Reduced ventilation requirements; 
    --  Reduced requirement for life of mine tailings pond capacity, and
        potentially savings in environmental expenditures.  

    trade-off analysis is recommended to weight these potential advantages
    against the expected increase in capital costs for installing a paste
    backfill system. 

--  There is potential to bring more mineralized materials into the mine
    plan in the PEA planned mining areas. There are 3.06 million tonnes in
    situ mineralized materials above $100/tonne NSR Cutoff Grade excluded
    from the PEA mining shapes in the planned mining area with an average
    grade of 7.11% Zn, 2.91% Pb, 0.39% Cu, 85.31 g/t Ag, and 1.12 g/t Au.
    Reasons for the excluded amounts include parallel zones of
    mineralization where only one zone can be mined, stand-off distances
    from historical mining areas, areas too narrow relative to the current
    minimum mining width, and isolated areas. Further design optimization
    could potentially bring some of these mineralized materials into the
    mine plan. 

--  Further stope design optimization will lead to reduced internal dilution
    and increased plant feed head grades. Overall internal dilution in the
    planned stopes is currently approximately 20%. In SRK's opinion, it
    should be possible to reduce internal dilution to less than 15% and
    increase plant feed head grades by roughly 4.3%. 

--  Definition drilling should convert some of the existing Inferred mineral
    resources to Indicated or Measured category. 

--  Significant potential for resource expansion at depth given drill-grade
    intervals outside of current resource block and below the PEA modeled
    mine plan in the "Future Mine Plan Area" (see Figure 1). 

--  Potential for increased metallurgical recoveries, specifically
    optimization of the lead, copper and precious metals recovery. 

The full PEA technical report will be filed on SEDAR at www.sedar.com and on the Trevali Mining website at www.trevali.com within 45 days of the issuance of this news release.

The PEA is considered preliminary in nature and includes economic analysis that is based, in part, on inferred mineral resources. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would allow them to be categorized as mineral reserves, and there is no certainty that the results will be realized. Mineral resources are not mineral reserves because they do not have demonstrated economic viability.

Qualified Person and Quality Control/Quality Assurance

EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, and Paul Keller, P.Eng, Trevali's COO, are qualified persons as defined by NI 43-101, have supervised the preparation of 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. Mr. Keller is not independent of the Company as he is an officer and shareholder. The lead parties responsible for the PEA, SRK, Holland and Holland, and Stantec, are independent of the Company.


Trevali is a zinc-focused base metals mining company with operations in Peru and Canada.

In Peru, the Company is actively operating its wholly-owned Santander underground zinc-lead-silver mine and 2,000-tonne-per-day metallurgical plant, and producing zinc and lead-silver concentrates.

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 underground mine was successfully undertaken in 2012 and the Company anticipates commencing operations at its 3,000-tonne-per-day Caribou Mill Complex in 2015.

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). For further details on Trevali, readers are referred to the Company's web site (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.

We advise US investors that while the terms "measured resources", "indicated resources" and "inferred 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States, absent such registration or an applicable exemption from such registration requirements.

The TSX has not approved or disapproved of the contents of this news release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.