VANCOUVER, BC, Dec 3, 2021 /PRNewswire/ - Trevali Mining
Corporation ("Trevali" or the "Company") (TSX: TV) (BVL:
TV) (OTCQX: TREVF) (Frankfurt:
4TI) is pleased to announce the closing of the transaction with
Cerro De Pasco Resources Inc. (CNSX: CDPR) ("Cerro De Pasco" or
"CDPR"), to sell Trevali's 100% interest in the Santander Mine in
Peru (refer to news release dated
November 8, 2021). .
Trevali has received 10 million common shares of
Cerro De Pasco (subject to certain
conditions), C$1 million in cash, and
a 1% Net Smelter Return Royalty on certain areas of the Santander
Mine site that exclude areas on which there is currently a defined
Mineral Resource.
The divestiture of Santander is an element of
Trevali's focus on disciplined capital allocation, corporate debt
reduction and development of the RP2.0 expansion project at Rosh Pinah.
ABOUT TREVALI
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, as
well as an option to acquire a 100% interest in the Heath Steele
deposit located in New Brunswick,
Canada. 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"). 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 closing of the Transaction,
including the anticipated timing and amount of the consideration
for the sale of the Santander Mine, including the amount of cash
payments to be received by Trevali, if any; the extent of Trevali's
future ownership of CDPR; and expectations relating to the
completion of the proposed consolidation, including the timing
thereof. Forward-looking statements are based on the beliefs,
expectations, assumptions and opinions of management of the Company
as of the date the statements are published, including, with
respect to the forward-looking statements in this news release,
that the Transaction closes on the timeline currently expected and
that the Company is able to complete the proposed Consolidation on
the terms and the timeline proposed. 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, including,
without limitation, the risk that the Transaction will not close on
the timeline currently expected or at all; the risk that the
Company will not receive any cash as consideration for the sale of
the Santander Mine; the risk that Trevali's interest in CDPR may be
diluted and Trevali may not benefit from its shareholdings in CDPR;
the risk that Trevali may not complete the Consolidation on the
timeline or terms currently proposed, or at all; 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.
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SOURCE Trevali Mining Corporation