Trimetals closes $1.21M first tranche of financing

Feb 26, 2018

2018-02-26 09:33 ET – News Release

Mr. Eric Edwards reports

TRIMETALS MINING INC. CLOSES $1,211,750 FIRST TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT

Trimetals Mining Inc. has issued 8,078,333 units of the company at a price of 15 cents per unit to raise gross proceeds of $1,211,750. Each unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire one additional common share of the Company at a price of $0.25 for a period of 24 months, subject to accelerated expiry if, at any time after four months and one day following closing, the closing price of the Company’s common shares on the Toronto Stock Exchange (the “TSX”) is $0.35 or above per common share for a period of 10 consecutive trading days.

The net proceeds from the Private Placement will be used for exploration of the Company’s Gold Springs project in Nevada, working capital and general corporate purposes.

Eric Edwards, the Company’s President and Chief Executive Officer commented, “We are pleased with the show of support that we have found in this difficult financing market for our gold prospects, our team, and our diversified asset base. We are able to welcome a substantial number of new Canadian investors to TMI who participated in this offering, along with good support from our existing shareholders who continue to believe in the gold discovery opportunity at Gold Springs.”

Mr. Edwards further commented, “We are continuing to receive additional subscriptions, and we are planning for a second tranche closing soon. This financing will provide the Company funding to commit to a substantial 2018 exploration program at Gold Springs, and explore strategic options to realize value from Escalones copper project.”

Robert van Doorn, Chairman and a director of the Company, subscribed for 1,000,000 Units and Mr. Edwards subscribed for 200,000 Units.

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the prospective Gold Springs gold-silver project in Utah and Nevada USA, and the Escalones copper-gold porphyry deposit in Chile. The Company combines a track record of discovery and advancement of large projects, mining and exploration supportive jurisdictions, low political risk areas, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.

We seek Safe Harbor.

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