Base Metals

(TheNewswire)



Vancouver, Canada TheNewswire - April 15, 2021 - Metallum Resources Inc. (TSXV:MZN) announces that it has granted incentive stock options to its directors, officers and consultants to purchase up to an aggregate of 2,950,000 common shares of the Company, exercisable at $0.15 per share for up to ten years.  The options granted to directors and officers have a 50% vesting restriction in the first year.

About Metallum

Metallum Resources is a zinc focused, base metal resource company run by a Canadian-based management team with extensive experience in the acquisition, exploration and development of resource properties.  The Company is developing its flagship Superior Lake Zinc Project located in Ontario, Canada.

For further details about the Company and the Superior Lake Project, please visit the Company's website at metallumzinc.com .

ON BEHALF OF THE BOARD

Kerem Usenmez,

President & Chief Executive Officer

Metallum Resources Inc.

For further information, contact:

Kerem Usenmez, President & CEO

Tel: 604-688- 5288;  Fax: 604-682-1514

Email: info@metallumzinc.com

Website: metallumzinc.com

Neither the TSXV nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Company's property exploration and development plans. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

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 results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available 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 to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Metallum Resources

Metallum Resources

Overview

Market experts believe that global zinc demand is set to outpace production growth in 2021. The zinc market could see upwards of 2.9 percent to 14 million tonnes in production increases as producers worldwide continue to ramp up output in the face of surging demands.

Global zinc production continues to struggle to meet increasing demand. In 2019, 12.8 million tons of zinc was mined, with 33.7 percent of that coming from China. Companies operating advanced, high-quality zinc production assets in the West present investors with an opportunity to satisfy growing global demand without the same level of exposure to geopolitical risk.

One such company is Metallum Resources (TSXV:MZN), which acquired the Superior Lake zinc project from Superior Lake Resources (ASX:SUP). Superior Lake has a prospective JORC-compliant bankable feasibility study. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources.

The Superior Lake zinc project consists of two high-grade resource targets: Winston Lake and Pick Lake. Winston Lake produced historic average recoveries at 93.7 percent zinc and 78.3 percent copper, 37 percent Ag and 38 percent Au with approximately 900 Mlbs Zn, 53.7 Mlbs Cu, 1,172 koz Ag, 51.17 koz Au. Likewise, Pick Lake hosts highlighted drilling results of zinc grades up to 40.6 percent over 0.51m and 30.47 percent over 13.4m.


With most major permitting in place, the company plans to commence an extensive drilling campaign and further its established exploration programs to identify additional targets across the Superior Lake property. Existing infrastructure and historic revitalization of the project present the company with fast-tracked and lower-cost development conditions.

Metallum Resources has advantageous positioning in the space of zinc developer valuation. Compared to other players in the market, Metallum Resources presents an excellent CAD$21 million market cap with a robust post-transaction share distribution portfolio. The company has no material debt.

Metallum Resources’ management team has a proven track record of bringing shareholder value. The company is part of the Gold Group, a winning team of results-driven leaders with world-class expertise in mine building, resource expansion and established stakeholder value.

Company Highlights

  • Metallum Resources’ flagship Superior Lake zinc project is near-production, with all infrastructure in place, in the mining-friendly jurisdiction of Ontario, and is one of the highest-grade zinc development resources in North America.
  • Current resources estimates place Superior Lake with upwards of 2.07 million indicated tonnes of zinc at 18 percent zinc grades. The current mine life of Superior Lake stands at nine years and the asset has the potential for resource expansion with additional exploration.
  • The Lower Pick Lake massive sulphide Deposit has exceptional historic intercepts but is still largely untested, leaving huge potential for undiscovered, high grade massive sulphide mineralization that is close to existing underground development.
  • The Superior Lake zinc project’s 2 deposits, Winston Lake and Pick Lake, are both highly prospective VMS deposits that host very rich zinc and other metals mineralization.
  • Superior Lake Resources released a JORC-compliant (but not NI 43-101 compliant) Bankable Feasibility Study for the Superior Lake Zinc Project in 2019. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources, at 3 percent cut off grade.
  • The company is a significant proponent of stakeholder participation and mining best practices. It boasts strong relationships with community and local skilled workforces and emphasizes safety and sustainability while providing exceptional economic and project development potential.

Key Projects

Superior Lake Zinc Project

The Superior Lake zinc project sits approximately 200 kilometers east of Thunder Bay, Ontario. The project covers 175 kilometers squared and consists of two deposits – Winston Lake and Pick Lake. The property leverages excellent existing infrastructure, including all-weather access roads, transmission lines, tailings dam and over 180,000 meters of surface and undergrounding drilling.

Both highly prospective VMS deposits host very rich zinc and other metals mineralization, which presents Metallum with exceptional exploration and yield possibilities. The project boasts a good 43-101 indicated resource of 2.07 million tonnes at 17.9 percent zinc, 0.8 percent copper, 0.4g/t gold and 33.6 g/t silver and inferred resources at 0.27 million tonnes at 16.2 percent zinc, 1.0 percent copper, 0.3 g/t gold and 37.2 g/t silver. Pick Lake recoveries stand at 97 percent zinc and 54 percent concentrate returned from a test stope conducted before acquisition by Metallum.

Past work on the project includes successful exploratory testing, soil sampling and monitor surveying to measure dilution processing. In 2019, the project saw downhole EM surveying and the completion of three significant drill holes by Superior Lake Resources. This drill campaign adds to the 1,812 surface and underground drill holes in the asset’s database.

Over the next 12 months, the company plans to increase the zinc resources across the asset, dewater the mine and leverage its developmental momentum in advancing potential production. Metallum remains excited for the future of the Superior Lake zinc project and the economic growth that it’s projected to experience.

Superior Lake Resources released a JORC-compliant (but not NI 43-101 compliant) Bankable Feasibility Study for the Superior Lake Zinc Project in 2019. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources. Metallum Resource intends to upgrade this study in 2021.

Management Team

Kerem Usenmez — President, CEO & Director

Kerem Usenmez is a geological engineer and a mining entrepreneur with over 20 years of global experience. He has worked in various technical and leadership roles with Inco, Vale and Amec. Usenmez has been involved in mineral discovery exploration and various VMS deposits and discoveries in Canada, such as Duck Pond NFLD, Bathurst in New Brunswick and Northern Manitoba, working mainly in base metals, such as Zinc. Usenmez co-owns Atom Bits, a rapidly growing diamond drilling bit manufacturer in Canada. He is a member of the board of directors of the PDAC and is the co-chair of the Public Affairs Committee.

Kevin Bales — CFO

Kevin Bales has over 20 years of financial reporting experience in the mining and information technology industries. He currently serves as CFO for several public junior exploration companies with operations in Canada, the U.S, Latin America, and Europe. Bales holds a Bachelor of Management degree with a major in accounting.

Robert Middleton — Exploration Manager

Robert Middleton is an exploration geoscientist with over 50 years of experience in the mining and exploration industry in more than 40 countries through Canada, United States, Central America, Europe and Africa. He was involved in VMS deposit discoveries and expanding significant deposits such as Hemlo, Flin Flon, and Bell Creek. He worked as an exploration manager with junior and major companies such as Newmont. He holds a mining diploma from the Provincial Institute of Mining in Haileybury, a B.Sc. and M.Sc. in Applied Geophysics from Michigan Technological University. Middleton was named The Prospector of the year in 2008 by the Ontario Prospectors Association and MNDM, won the “Discovery of the year” awards in 2004 and 2001 and holds Lifetime Achievement Award from NWOPA.

Grant Davey - Director

Grant Davey is an experienced entrepreneur with 30 years of senior management and operational experience in the development, construction and operation of precious metals, base metals, uranium and bulk commodities around the world. More recently, he has been involved in venture capital investments in several exploration and mining projects and has been instrumental in the acquisition and development of the Honeymoon uranium mine in South Australia, the Panda Hill niobium project in Tanzania, the Superior Lake zinc project in Ontario, the Cape Ray gold project in Newfoundland and the acquisition of the Kaylekera Uranium mine in Malawi from Paladin. He is currently a Director of Cradle Resources Limited (ASX:CXX), Lotus Resources Limited (ASX:LOT), and Frontier Energy (ASX:FTE), and is a member of the Australian Institute of Company Directors (AICD).

Trevali Provides Update on Search and Dewatering Efforts at Perkoa Mine

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) provides an update on circumstances at the Perkoa Mine in Burkina Faso following the serious flooding incident on April 16 where the Company and government authorities have been working on the search efforts 24 hours per day.

Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corporation)

The Company's overarching priority has been, and continues to be, finding the eight miners still missing at the mine. We are working 24 hours a day to dewater the mine and reach our missing colleagues and continue to work hand in hand with the Burkina Faso government, authorities and emergency services at all levels.

Despite the comprehensive efforts of the search teams, including the continued addition of extra pumping equipment during the search and de-watering process, we have yet to find the missing miners. There is a refuge chamber at a depth of approximately 570 metres which is primarily designed to provide protection from industrial hazards that workers might encounter underground, such as smoke from fire, gas emissions, fall-of-ground, and ventilation failure. We cannot be certain whether all or some of the miners managed to reach the refuge as we have had no communication with the missing since April 16 .

The miners were last located at various locations below Level 520 and based on planned work patterns that day and our last contact with them, it is unlikely that they would have been together when the flooding occurred, or that all of them would have been able to make it to the refuge.

In order to safely regain access to the mine, we have to rebuild the five-kilometre-long underground access ramp and to date we have restored more than 3,800 metres using more than 25,000 tonnes of waste rock. During this work, the massive scale of the flood has become clearer. We currently estimate that more than 165 million litres of floodwater swept through the underground portion of the mine. These floodwaters caused extensive damage to ramps and access roads, as well as underground infrastructure. Approximately 38 million litres of water has been pumped out of the mine as of May 11 .

All of us at Trevali are hugely grateful for the continued assistance provided by Burkinabe authorities, including enabling the imports of equipment for the search effort, and expediting air carriers able to transport heavy machinery into the country, which has greatly accelerated the dewatering and search efforts. The Company has also benefitted from the relocation of the crisis management committee to the Sanguié region near the Perkoa mine site and from the support provided by government officials in daily planning meetings. Trevali will continue to welcome support from those able to assist in the search effort. Trevali and Byrnecut, the mining contractor at Perkoa, also remain in daily communication with the families of the missing workers and we continue to offer our heartfelt support.

"The environment underground in any mine is dynamic, and our teams are working round the clock, adjusting methods and adapting to the circumstances we confront as we gain deeper access in the mine," said Ricus Grimbeek, President and CEO. "We will continue to make every effort, using all available equipment and personnel, and will continue to look for any and all opportunities to safely speed up the search operation. We acknowledge the frustration of the families and the community, and we are listening to their concerns. We are committed to locating our missing colleagues as soon as possible."

Summary of Dewatering and Mine Access Rehabilitation Efforts To-Date

The response to the flood event began on the morning of April 16 with the initiation of evacuation orders and mine rescue efforts, followed by immediate action to focus search efforts on dewatering and mine access rehabilitation to quickly gain access to lower levels of the mine.

A three-phase plan was initiated to dewater the mine. Phase One involved repurposing existing service water piping systems to support initial dewatering, sump pumping in the open pit, and establishing surface pump stations to receive water from the underground. This was quickly followed by Phase Two, which involved the rehabilitation of mine access and reconstructing the road surface to re-establish the mine's existing underground dewatering system that had been damaged by the flooding. Phase Three involved the installation of significant additional pumping and dewatering infrastructure, strainer boxes, and more than 5,000 metres of new poly pipe while simultaneously gaining access to the lower levels of the mine. In total, the multiple dewatering systems are comprised of more than 24 electric submersible and diesel pumps. A series of pumps is required in order to provide the pressure required to move the water from the lower level some 550 meters vertical to the surface.

As part of its efforts Trevali continues to source and transport additional machinery and equipment to the Perkoa Mine site, including installing pumps that arrived from Ghana by truck and from South Africa by air, expedited with the assistance of the Burkina Faso government and Air France. Other mining companies in Burkina Faso have provided support in the form of pumps and operational assistance. The National Fire Brigade has also been continually on site and has provided additional emergency response support and expertise.

Both the Company and the government are undertaking ongoing investigations into the circumstances that resulted in this flood event, and Trevali has welcomed visits from all government authorities who have requested site access. The Company fully supports an open and independent investigation and will provide any assistance that may be required.

The Company will provide further details on the progress of search activities as circumstances warrant.

About Trevali Mining Corporation

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

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 statement 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 search efforts at Perkoa, including the Company's plans with respect thereto, the efficacy of the Company's pumping, decline ramp rehabilitation and de-watering activities and its efforts to restore electrical power and communications at the lower levels of Perkoa, the Company's ability to effectively dewater the mine and restore access to the lower levels of Perkoa, the results of any investigation of the flooding incident, and the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas. 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 Company's search efforts and plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; dependence on key personnel; labour pool constraints; labour disputes; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation; compliance with governmental regulations; compliance with environmental laws and regulations; maintaining ongoing social license to operate; impact of climatic conditions on the Company's mining operations; limitations inherent in our insurance coverage; litigation; and other risks of the mining industry including, without limitation, 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

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Trevali Provides an Update on Search Efforts at Perkoa Mine

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) provides an update on search efforts at the Perkoa Mine in Burkina Faso following an April 16 flooding event.

Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corporation)

To date, approximately 32 million litres of water have been removed from the Mine and access has been restored to Level 550. There has been no communication with the eight missing workers since April 16 and none have been located yet. The Company continues to strengthen search capabilities with additional equipment and resources, and search crews will continue to work at maximum capacity, 24-hours-per-day to locate the missing individuals.

Throughout the search process, senior representatives of Trevali and Byrnecut, the mining contractor at Perkoa, have been in daily communication with the families of the missing workers and continue to offer support.

"We are working in solidarity with all levels of government and as fast as we possibly can using all available resources in the country, as well as importing additional machinery and equipment to assist with locating our missing colleagues," said Ricus Grimbeek, President and CEO. "Our thoughts are with our colleagues' families, and we continue to work closely with the families and the government to ensure their needs are met during this difficult time."

Added Mr. Grimbeek, "Trevali is appreciative of the support of the government and various agencies in Burkina Faso . We welcome the decision by the government to move its crisis management committee nearer to the mine site to better include family members of the missing workers and facilitate closer collaboration as we rapidly work to locate the missing individuals. We will remain closely engaged with government authorities to help the community respond to the impacts of the recent flooding."

Dewatering and Mine Access Rehabilitation Progress Update

The search effort requires the careful rebuilding of the road on more than 5,000 metres of underground decline ramp in order to facilitate the search efforts and safely install and operate pumping and piping infrastructure to remove floodwater. As of May 8 :

  • Approximately 25,000 tonnes of waste rock has been used in rehabilitation of the mine access ramp
  • 5,000 metres of new poly pipe has been welded and installed in addition to the existing pipes
  • More than 24 electric and diesel pumps have been installed and put into operation
  • Approximately 32 million litres of water have been removed from the mine

The full extent of required mine rehabilitation efforts will become known as dewatering progresses to the bottom of the mine at Level 710.

The Company is in regular communications with Burkinabe authorities and is grateful for the search and rescue assistance received from them as well as the Burkina Faso mining community. The Burkina Faso National Fire Brigade has been on site at the Mine since shortly after the flooding event, working alongside Trevali's and West African Resources's search and rescue teams. Personnel from the Burkinabe Ministry of Mines and Quarries, the Governor of Central-West Region, the High Commissioner of Réo, the President of the Chamber of Mines, the Minister of Civil Service, Labour and Social Protection; the Minister of National Education, Literacy and Promotion of National Languages; Military Civil Construction, and others have all lent their support and coordination to the urgent search and rescue activities and have made numerous visits to the mine site. Trevali welcomes all support from the authorities in assisting with the search and rescue efforts. In addition, family members of the missing workers have received regular briefings on the search status and have been to the site and reviewed progress underground. The Company is committed to full transparency in its actions and communication of updates to the families and the authorities.

The Company will provide further details on progress of search activities and site investigation as more information becomes available.

About Trevali Mining Corporation

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

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 statement 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 suspension of mining and milling operations at Perkoa, the search efforts at Perkoa, including the Company's plans with respect thereto, the efficacy of the Company's pumping, decline ramp rehabilitation and de-watering activities and  its efforts to restore electrical power and communications at the lower levels of Perkoa, the Company's ability to effectively dewater the mine and restore access to the lower levels of Perkoa, the results of any investigation of the flooding incident, the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas, the effect of the flooding on the cost of production at Perkoa, the length of time before underground mining operations can be recommenced safely at Perkoa and the effect of the suspension on the Company's results of operations and metal production. As well, forward looking statements relate to the Company's growth strategies, the continued success of mineral exploration, the content, cost, timing and results of future exploration programs and life of mine expectancies, Trevali's ability to fund future exploration activities, estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production and capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses and title disputes or claims. 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 to the Company's search efforts and plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; actual results of current exploration activities, including the inherent uncertainty of mineral exploration and estimations of exploration targets; 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; potential conflicts of interest involving our directors and officers; 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, including any new or ongoing decrees and regulations issued by any governmental authority in response to the COVID-19 pandemic; compliance with governmental regulations; 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; competition in the mining industry; our ability to integrate new acquisitions into our operations; cybersecurity threats; litigation; and other risks of the mining industry including, without limitation, 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

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Trevali Reschedules First Quarter 2022 Financial Results and Conference Call

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) today announced that due to the ongoing situation following the Perkoa Mine flooding event of April 16, 2022 and the primary focus on the search for the eight miners who remain missing following the event the filing of its first quarter 2022 operating and financial results for the period ended March 31, 2022 and the accompanying conference call and webcast have been delayed.

Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corporation)

The operating and financial results for the first quarter are now expected to be released on Monday, May 16, 2022 before the Toronto Stock Exchange market open.

Q1-2022 Financial and Operational Results Conference Call and Webcast

The Company will host a conference call and webcast presentation at 1:00PM Eastern Time ( 10:00AM PT ) on Monday, May 16, 2022 to review the operating and financial results. Participants are advised to dial-in five minutes prior to the scheduled start time of the call. A presentation will be made available on the Company's website prior to the conference call.

Conference call dial-in details:

Date: Monday, May 16, 2022 at 1:00 PM Eastern Time
Dial-in: Toll-free ( North America ): +1 (877) 291-4570
International: +1 (647) 788-4919
Conference ID 3747868
Webcast: https://www.gowebcasting.com/11789

About Trevali Mining Corporation

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

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 .

SOURCE Trevali Mining Corporation

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Tinka Announces Results of Annual and Special Meeting of Shareholders

Tinka Resources Limited ("Tinka" or the "Company") (TSX.V:TK)(BVL:TK)(OTCQB:TKRFF) announces the results of the Company's Annual and Special Meeting of Shareholders held on April 28, 2022 (the "Meeting

A total of 161,983,607 common shares were represented in person or by proxy at the Meeting, representing 47.54% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders, as set out in the Notice of Meeting and Information Circular dated March 23, 2022, were voted in favour, including: (a) fixing the size of the Board of Tinka to six; (b) the adoption of a new stock option plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding common shares at the time of the grant; and (c) the appointment of D&H Group LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing year.

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Trevali Announces Mine Rehabilitation and Dewatering Progress at Perkoa Mine in Response to Flooding Event and Provides an Update on Search and Rescue Efforts

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) provides an update on search and rescue efforts for eight missing workers as well as progress made on mine rehabilitation and dewatering at the Perkoa Mine in Burkina Faso following intense rainfall that occurred in the early morning of April 16, 2022 and resulted in flooding of the mine.

Trevali Logo (CNW Group/Trevali Mining Corporation)

Eight workers remain unaccounted for following the evacuation of the underground area of the mine and the Company is working closely with Burkinabe authorities as search and rescue efforts continue. Mining and milling operations at Perkoa will remain suspended for the foreseeable future as the Company investigates the cause of the flood event.

The Company initially reported the incident on April 16, 2022 , the date of the flooding. A second release was issued April 21, 2022 to provide an update on the Company's activities in response to the flooding of the mine and convey the initial assessment of events surrounding the flood event at the Perkoa Mine. The Company today provides a further update on its activities in response to the flooding of the mine, particularly the logistical operation behind the search and rescue efforts for the missing workers, which includes mine decline rehabilitation and dewatering activities.

"Our primary focus is the search for our colleagues and to do this we are getting pumping and other dewatering equipment where it is most needed," said Ricus Grimbeek, President and CEO. "The flood eroded the decline ramp that is the primary access to all levels of the mine and repairing this access ramp for safe use was a critical initial step in our efforts. With the completion of the decline rehabilitation to Level 520, pumping capacity has now increased, including the installation of a new 5,000-metre pipeline to surface with multiple teams of welders dedicated to completing the assembly and installation. Trevali's senior leadership and Byrnecut, Trevali's mining contractor at the Perkoa Mine, continue to meet with the families of the missing workers and to ensure they have everything they need in these difficult times. We are grateful for the valuable support from the Burkina Faso government and the broader Burkina Faso mining community who are providing all assistance possible in our search and rescue efforts."

The Company has had regular communications with, and received assistance from, the Burkinabe Ministry of Mines and Quarries, the National Emergency Rescue, Military Civil Construction, the Governor of Central-West Region, and the High Commissioner of Réo. A delegation from the government was provided a briefing at the Perkoa Mine site on April 23 . Representatives included the Minister of Mines and Quarries, the Minister of Environment, the Minister of Labour, the Minister of Religious and Cultural Activities, the Governor of Central-West Region and the President of the Chamber of Mines.

Additional updates:

  • The water level in the mine has settled at approximately Level 520 (520 metres from surface). Communications and electrical power have now been re-established to Level 520.

  • While most workers underground or preparing to enter the mine were able to safely evacuate, the eight missing workers were working below Level 520 at the time of the flooding and there has been no communication with these workers since soon after the evacuation order was given. There are two refuge chambers located below Level 520 that are designed to provide a refuge for workers trapped in a hazardous environment. We do not know if some or all of the eight missing workers were able to access these refuge chambers.

  • The decline ramp roadway is the essential access for vehicles moving people and equipment between levels in the mine. The torrent of water entering the mine resulted in significant road surface erosion. Rehabilitation of the decline ramp is essential to allow the transport of larger pumps to Level 520 to increase dewatering capacity. The Company has completed approximately 3,643 metres of an estimated 5,000 metres of decline ramp rehabilitation the Company believes is required to gain access to lower mine levels, reaching the water level at Level 520 as of April 23 .

  • The Company has a three-stage dewatering plan, of which the first two stages – the repurposing of existing piping to commence initial dewatering efforts, followed by the installation of additional underground pumping infrastructure to facilitate an increase in pumping capacity – are now complete and actively pumping. The third stage, which is currently in progress, involves the installation of 5,000 metres of new piping and higher-capacity pumps to increase pumping capacity. Multiple welding crews are mobilized for this assembly effort.

  • The objective of the plan is to dewater the mine to continue the search and rescue efforts for the missing colleagues while working toward completely dewatering to the lowest level of the mine. The Company has also re-established sump pumping in the open pit and doubled pumping volume capacity as a precautionary measure while we continue to investigate the cause of the event.

The Company will provide further details on progress of search and rescue activities and site investigation as more information becomes available.

About Trevali Mining Corporation

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

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 statement 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 suspension of mining and milling operations at Perkoa, the rescue and recovery efforts at Perkoa, including the Company's plans with respect thereto, the efficacy of the Company's pumping, decline ramp rehabilitation and de-watering activities and  its efforts to restore electrical power and communications at the lower levels of Perkoa, the Company's ability to effectively dewater the mine and restore access to the lower levels of Perkoa, the results of any investigation of the flooding incident, the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas, the effect of the flooding on the cost of production at Perkoa, the length of time before underground mining operations can be recommenced safely at Perkoa and the effect of the suspension on the Company's results of operations and metal production. As well, forward looking statements relate to the Company's growth strategies, the continued success of mineral exploration, the content, cost, timing and results of future exploration programs and life of mine expectancies, Trevali's ability to fund future exploration activities, estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production and capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses and title disputes or claims. 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 to the Company's search efforts and plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; actual results of current exploration activities, including the inherent uncertainty of mineral exploration and estimations of exploration targets; 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; potential conflicts of interest involving our directors and officers; 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, including any new or ongoing decrees and regulations issued by any governmental authority in response to the COVID-19 pandemic; compliance with governmental regulations; 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; competition in the mining industry; our ability to integrate new acquisitions into our operations; cybersecurity threats; litigation; and other risks of the mining industry including, without limitation, 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

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Metallum Resources completes $5.2 million private placement to advance the development of the Superior Lake Zinc Project and Board changes

Metallum Resources completes $5.2 million private placement to advance the development of the Superior Lake Zinc Project and Board changes

(TheNewswire)

Metallum Resources Inc.

April 21, 2022 TheNewswire - Vancouver, British Columbia: Metallum Resources Inc. (TSXV:MZN) is pleased to report that it has closed its previously announced non-brokered private placement with the issuance of 87,371,674 units at $0.06 each, for gross proceeds of $5,242,300.  Each unit consists of one common share of the Company and one warrant which entitles the holder to purchase one additional common share at $0.14 for two years from closing.

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