Trevali Begins Trucking Concentrate at Caribou Mine
VANCOUVER, BC, March 30, 2021 /CNW/ – Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) is pleased to announce the Caribou mine located 50 kilometres west of Bathurst New Brunswick, in Canada has trucked its first ore concentrate on March 30th, 2021 since announcing the planned restart of operations on January 15, 2021 On February 10, 2021, Trevali restarted operations at the Caribou mine, which had been on care and maintenance since March 2020. Since reopening, rehabilitation of the main ramp, underground operating levels and access ways has been completed.
Additionally, testing of surface infrastructure, including the mill, was successfully completed. The first ore was brought to surface and delivered to the stockpile on March 6, 2021. The mill’s first twenty-four-hour production period without interruption took place on March 25th, 2021.
The Caribou operations team plans to process 2,600 to 2,800 tonnes of ore per day for the remainder of 2021 representing 60-65 million pounds of zinc and shipping concentrate at regular intervals throughout the year. Ricus Grimbeek, President & CEO, noted, ” I am proud of the Caribou team for all the work they have put into restarting the mine. The team moved quickly to staff up the operation over the last couple months and get the mine, mill, and other systems and infrastructure into good working order.
With this first truckload of concentrate leaving the site, we have achieved a major milestone safely and on schedule. I look forward to the continued safe ramp-up of operations. Thanks to everyone on the team and in the community for their efforts in making this a continuing success.”
ABOUT TREVALI Trevali is a global base-metals mining Company headquartered in Vancouver, Canada. The bulk of Trevali’s revenue is generated from base-metals mining at its four operational assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned Rosh Pinah Mine in Namibia, the wholly-owned Caribou Mine in northern New Brunswick, Canada and the wholly-owned Santander Mine in Peru.
In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada, and the past-producing Ruttan Mine in northern Manitoba, Canada. Trevali also owns an effective 44%-interest in the Gergarub Project in Namibia, as well as an option to acquire a 100% interest in the Heath Steele deposit located in New Brunswick, Canada. The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI).
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. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”).
Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statements are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. . In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “outlook”, “guidance”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. Forward-looking statements relate to future events or future performance and reflect management’s expectations or beliefs regarding future events including, but not limited to, statements with respect to the resumption of operations at Caribou, including the anticipated costs associated therewith and expectations regarding the timing and volumes of mining, production and delivery of concentrate from the mine, the Company’s growth strategies and planned development activities, the timing and amounts of estimated future production, hedging activities, success of mining activities, environmental risks, and the impact on the Company’s operations of current and future actions taken by governmental authorities, counterparties and others to the COVID-19 pandemic.
By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to the resumption of operations at Caribou, including that the Company may not be able to successfully execute the restart of Caribou on the expected timeline and at the expected costs, or at all; that the economics of Caribou after restart may not accord to the Company’s forecast, including that the Company’s cost and production guidance may not accurately estimate actual post-restart costs and production at Caribou; that the Company’s fixed price offtake contracts may not be economic; changes in project parameters as plans continue to be refined; future prices of zinc, lead, silver and other minerals and the anticipated sensitivity of our financial performance to such prices; possible variations in ore reserves, grade or recoveries; dependence on key personnel; labour pool constraints; labour disputes; availability of infrastructure required for the development of mining projects; delays or inability to obtain governmental and regulatory approvals for mining operations or financing or in the completion of development or construction activities; counterparty risks; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation; compliance with governmental decrees and regulations, including any new or ongoing decrees and regulations issued by a governmental authority in response to the COVID-19 pandemic; compliance with environmental laws and regulations; land reclamation and mine closure obligations; challenges to title or ownership interest of our mineral properties; maintaining ongoing social license to operate; impact of climatic conditions on the Company’s mining operations; corruption and bribery; limitations inherent in our insurance coverage; compliance with debt covenants; our ability to raise capital; competition in the mining industry; our ability to integrate new acquisitions into our operations; cybersecurity threats; litigation; and other risks and other risks and uncertainties that are more fully described in the Company’s annual information form, interim and annual audited consolidated financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE Trevali Mining Corporation
For further information: Investor Relations Contact: Ute Koessler – Investor Relations Manager, Email: [email protected], Phone: +1 (604) 336-2444
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