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Trevali Provides Underground Development Update of Santander Mine in Peru

Positive initial grade comparison results

 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 19, 2013) - Trevali Mining Corporation ("Trevali" or the "Company") (TV.TO)(TREVF)(TV.TO)(4TI.F) is pleased to provide an underground development update as well as the initial grade comparison results from the Magistral North and Central Deposits at its Santander Mine in Peru.

UNDERGROUND DEVELOPMENT

Development is progressing well. To date eight levels are in place in addition to 12 sub-levels in the Magistral North and Central deposits, four levels - 7 sub-levels and four levels and 5 sub-levels respectively. The ninth level will open the Magistral South zone for exploitation and is scheduled to be in place by month end (Figure 1).

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/tv619-F1.pdf.

All three Magistral deposits (North, Central and South) are accessed by individual production ramps. The North and Central deposits are connected and break-through from Central to South deposits is anticipated in Q3. This will allow implementation of one-way, high-speed, trackless mining system in addition to enabling greater flexibility for mining planning, scheduling and extraction purposes. It should also greatly reduce the potential for underground bottlenecks for Mill feed. Once this is in place, 2013 development will be largely complete and the joint Trevali-Glencore-JRC mining team will re-focus on long-range mine planning and commence driving 2014 development.

With substantial development now complete the underground team is currently implementing a variety of optimization initiatives focusing on personnel skills, operating procedures, enhanced mining and mucking procedures and a proactive 'pit-stop'-style fleet maintenance program.

Santander Mill commissioning continues to progress and the Company anticipates Zn and Pb-Ag concentrate production soon followed by initial concentrate shipments.

MAGISTRAL GRADE COMPARISON STUDIES

Initial underground grade comparison studies of mined development material - to underground channel samples - to the NI 43-101 resource estimate is encouraging - the data is essentially within natural geological error (Table 1).

This initial comparison considers only the limited areas of development in mineral from the Magistral North (MN) and Magistral Central (MC) deposits for which the Company has received geochemical assays from its on-site laboratory.

              Metal Content
    tonnes Zn
%
Pb
%
Cu
%
Ag
Oz/T
t
Zn
t
Pb
t
Cu
Oz Ag
Channel MN 21,998 4.11 2.80 0.11 2.10 904 615 25 46,155
Samples MC 9,523 5.93 0.82 0.11 1.86 565 78 10 17,693
* MN+MC Total: 31,521 4.66 2.20 0.11 2.03 1,469 693 35 63,848
NI MN (at 5 COG) 21,870 4.06 3.07 0.10 2.34 887 672 22 51,283
43-101 MC (at 5 COG) 7,975 6.48 1.33 0.12 3.04 517 106 9 24,212
** MN+MC Total: 29,845 4.70 2.61 0.10 2.53 1,404 778 31 75,496
Surface MN 27,170 3.57 2.61 0.09 1.94 970 710 25 52,598
StockPiles MC 8,128 6.68 0.65 0.11 1.40 543 53 9 11,394
*** MN+MC Total: 35,298 4.29 2.16 0.09 1.81 1,513 763 34 63,992
Table 1: Comparison of Block Models to Surface Muck Pile samples
* Trevali internal block model based on Channel Samples
** NI 43-101 compliant Resource Estimate, by Golder Associates (please refer to news release dated July 05, 2012)
*** Surface Stockpiles estimated by survey and muck samples

The Company cautions that full reconciliation of the tonnes and grade will only occur once the material has been processed in the Mill.