US OTCQX Symbol: TMIAF TriMetals Mining Reports Increased M&I Grade to 0.55 g/t Gold (0.71 g/t AuEq) and 22% Increase in M&I Gold Oz in Updated Pit- Constrained Resource
NEWS RELEASE: 17-05
TSX Symbol: TMI
US OTCQX Symbol: TMIAF
TriMetals Mining Reports Increased M&I Grade to 0.55 g/t Gold
(0.71 g/t AuEq) and 22% Increase in M&I Gold Oz in Updated Pit-
Constrained Resource
March 29, 2017, Vancouver, British Columbia— TriMetals Mining Inc. (TSX: TMI,
US OTCQX: TMIAF), (the “Company”) is pleased to announce the completion of an updated
pit-constrained resource estimate for the Jumbo Trend (including Jumbo North and Jumbo
South (Etna) Resource blocks), the Grey Eagle Zone and the Thor Zone at the Gold Springs gold-
silver project that straddles the Nevada-Utah border (the “2017 Resource”) with an effective date
of March 29, 2017. The Company has now developed resources on all four of the ZTEM
geophysical target areas on which it has done detailed drilling. This updated resource includes
the drill information from the 2015 and 2016 drill programs and uses capped assay data, a more
conservative 0.25 g/t gold cutoff and is pit-constrained.
Importantly the average reported M&I gold grade in the “2017” pit-constrained resource is now
0.55 g/t compared to 0.45 g/t in the “2015” resource and M&I gold oz have increased by 2 2% to
527,687 oz compared to the “2015” resource even though the “2017” resource is constrained by a
higher cutoff grade.
Ralph Fitch, President and CEO of TriM etals Mining Inc., stated “Further drilling has again
increased the size and quality of the resource. As the exploration matures we are further
constraining our resource model and have increased the cut- off grade to a more conservative
0.25 g/t gold. One o f the benefits of this , is the increased reported grade at over 0.5 g /t gold,
very much in line with other deposits in Nevada/Utah. We believe this resource makes an
excellent starting point for our planned more substantial drill program this year. Importantly we
have now developed resources on all four of the ZTEM geophysical target areas on which we
have done detailed drilling. Within the Jumbo Trend we have established resources , with open-
ended mineralization, at the northern and southern end of the trend and will be working to infill
the 1.5- kilometer zone between these resources during the 201 7 drill program. Notably the
recent drilling at Jumbo South (Etna) has yielded higher grades and thicknesses of
mineralization, allowing us to add more ounces of gold at a higher grade per drill hole in this
southern portion of the Jumbo Trend.”
Link to location map showing the four resource blocks: http://www.trimetalsmining.com/wp-
content/uploads/2017/03/GSResourceAreasMar2017.pdf
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The updated pit-constrained resource using a 0.25 g/t gold cutoff consists of:
Cutoff grade
0.25 g/t Gold Tonnes
Gold
g/t
Gold
Ounces
Silver
g/t
Silver
Ounces
AuEq
g/t
AuEq
Ounces
Measured &
Indicated 29,836,278 0.55 527,687 10.00 9,595,528 0.71 682,703
Inferred 4,660,203 0.46 69,484 6.49 972,708 0.57 85,198
Gold Equivalent (AuEq) uses a gold/silver ratio 61.9 and have not been adjusted for metallurgical recoveries. The
Inferred resource is in addition to the measured and indicated resource. Numbers have been rounded, which may
lead to some numbers not adding up exactly.
The majority of the resource is located in the Jumbo Trend which consists of the resource blocks
Jumbo North and Jumbo South (Etna):
Jumbo Trend Resource - Jumbo North and Jumbo South (Etna)
Utah
Category Area Tonnage Gold Silver AuEq
Tonnes (000) g/t Oz (000) g/t Oz (000) g/t Oz (000)
M&I Jumbo N 16,994 0.50 271 12.12 6,623 0.69 378
M&I Jumbo S (Etna) 5,312 0.61 104 6.51 1,111 0.71 122
Total 22,306 0.52 375 10.79 7,735 0.70 500
Inferred Jumbo N 2,328 0.45 34 7.25 542 0.57 43
Inferred Jumbo S (Etna) 1,435 0.50 23 5.27 243 0.58 27
Total 3,763 0.47 57 6.49 786 0.58 70
Gold Equivalent (AuEq) uses a gold/silver ratio 61.9 and have not been adjusted for metallurgical recoveries. The
Inferred resource is in addition to the measured and indicated resource. Numbers have been rounded, which may
lead to some numbers not adding up exactly.
The remaining resource lies on the Nevada side of the project and consists of two separate areas,
the Thor Zone in the middle of the prop erty and the Grey Eagle towards the NW corner of the
property:
Grey Eagle and Thor Resource
Nevada
Category Area Tonnage Gold Silver AuEq
Tonnes (000) g/t Oz (000) g/t Oz (000) g/t Oz (000)
M&I Grey Eagle 7,175 0.62 142 7.17 1,654 0.73 169
M&I Thor 355 0.96 11 18.15 207 1.25 14
Total 7,531 0.63 153 7.69 1,861 0.76 183
Inferred Grey Eagle 875 0.43 12 6.37 179 0.53 15
Inferred Thor 23 0.63 0 11.10 8 0.81 1
Total 898 0.43 13 6.49 187 0.54 16
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Gold Equivalent (AuEq) uses a gold/silver ratio 61.9 and have not been adjusted for metallurgical recoveries. The
Inferred resource is in addition to the measured and indicated resource. Numbers have been rounded, which may
lead to some numbers not adding up exactly.
This pit-constrained model uses a 0.25 g /t gold cut -off grade compared to 0.2 g/ t gold cutoff
grade used in the 2015 resource.
An additional 97,000 oz of gold (M&I ) and 85,000 oz of gold ( Inferred) were estimated outside
the pit-constrained model. It is expect ed that the majority of these ounces will become part of
the resource with further drilling because the resource areas are open to expansion down -dip
and along strike.
The 2017 Resource is an update of the estimate used in the 2015 Preliminary Economic
Assessment ("PEA") (see TMI News Releases dated June 3, 2015 and August 12, 2015 ) and
includes the assay information from 32 additional reverse circulation (RC) drill holes at Jumbo
North, 8 additional RC holes at Jumbo South (Etna) and 11 additional RC holes at Thor. All
resources are open to expansion at depth and along strike.
To compare the 2015 Geologic Resource to the present geologic resource on a similar basis we
need to look at the 2017 Geologic Resource using a 0.2 g/t gold cutoff-grade and look at the 2015
resource using a gold/silver ratio, for gold equivalent calculation, of 61.9.
The accompanying table demonstrates that on this basis the M&I geologic resources have
increased quite substantially, by 327 thousand AuEq oz of a similar grade.
Gold Springs Resource Estimate – IDP* Geologic Resource by Category
0.20 grams/tonne cutoff
Category Gold Silver Gold Eq (ratio 61.9)
g/t Oz (000) g/t Oz (000) g/t Oz (000)
2017 Geologic Resource
Measured + Indicated 0.46 704 8.44 12,831 0.60 911
Inferred 0.41 184 5.70 2,579 0.50 225
2015 Geologic Resource
Measured + Indicated 0.45 434 9.62 9,296 0.60 584
Inferred 0.34 225 6.87 4,613 0.45 300
Difference ( 2017 resource minus 2015 resource)
Measured + Indicated 0.01 270 (1.18) 3,535 (0.00) 327
Inferred 0.07 (41) (1.17) (2,034) 0.05 (74)
*Inverse distance to a power (IDP)
For comparison purposes only, a cut -off grade of 0.20 g/t Au and a gold/silver ratio, for gold equivalent
calculation, of 61.9 is used in this table for both the 2015 and 2017 Resources. Numbers have been rounded, which
may lead to some numbers not adding up exactly.
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The following tables show the details of the 2017 Updated Resource:
Gold Springs Resource Estimate - IDP Pit Constrained Resource by Category
0.25 grams/tonne cutoff
Resource Category
$1500 Au
Area Tonnage Au Ag
TONNES (000) G/T GRAMS (000) OZ (000) G/T GRAMS (000) OZ (000)
Measured
Grey Eagle 2,835 0.65 1,840 59 7.26 20,581 662
Jumbo N 8,448 0.53 4,444 143 13.25 111,933 3,599
Jumbo S (Etna) 2,098 0.64 1,347 43 6.91 14,496 466
Thor 210 0.99 208 7 19.00 3,985 128
Total 13,591 0.58 7,839 252 11.11 150,995 4,855
Indicated
Grey Eagle 4,340 0.59 2,580 83 7.11 30,852 992
Jumbo N 8,546 0.47 3,985 128 11.01 94,076 3,025
Jumbo S (Etna) 3,214 0.58 1,875 60 6.24 20,067 645
Thor 145 0.92 134 4 16.93 2,461 79
Total 16,245 0.53 8,574 276 9.08 147,456 4,741
Measured +
Indicated
Grey Eagle 7,175 0.62 4,420 142 7.17 51,433 1,654
Jumbo N 16,994 0.50 8,429 271 12.12 206,009 6,623
Jumbo S (Etna) 5,312 0.61 3,222 104 6.51 34,562 1,111
Thor 355 0.96 342 11 18.15 6,446 207
Total 29,836 0.55 16,413 528 10.00 298,450 9,596
Inferred
Grey Eagle 875 0.43 376 12 6.37 5,569 179
Jumbo N 2,328 0.45 1,057 34 7.25 16,869 542
Jumbo S (Etna) 1,435 0.50 714 23 5.27 7,564 243
Thor 23 0.63 14 0 11.10 251 8
Total 4,660 0.46 2,161 69 6.49 30,254 973
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Gold Springs Resource Estimate - IDP Geologic Resource by Category
0.25 grams/tonne cutoff
Resource Category
Geologic
Area Tonnage Au Ag
TONNES (000) G/T GRAMS (000) OZ (000) G/T GRAMS (000) OZ (000)
Measured
Grey Eagle 2,871 0.65 1,854 60 7.22 20,723 666
Jumbo N 9,384 0.51 4,831 155 12.61 118,375 3,806
Jumbo S (Etna) 2,223 0.62 1,389 45 6.70 14,886 479
Thor 1,075 0.69 744 24 11.02 11,851 381
Total 15,554 0.57 8,818 284 10.66 165,834 5,332
Indicated
Grey Eagle 4,835 0.57 2,773 89 6.74 32,565 1,047
Jumbo N 10,709 0.45 4,860 156 10.09 108,025 3,473
Jumbo S (Etna) 3,736 0.55 2,054 66 5.90 22,022 708
Thor 1,457 0.64 936 30 8.45 12,316 396
Total 20,736 0.51 10,623 342 8.44 174,928 5,624
Measured +
Indicated
Grey Eagle 7,706 0.60 4,626 149 6.92 53,287 1,713
Jumbo N 20,093 0.48 9,691 312 11.27 226,400 7,279
Jumbo S (Etna) 5,959 0.58 3,444 111 6.19 36,908 1,187
Thor 2,532 0.66 1,680 54 9.55 24,167 777
Total 36,290 0.54 19,441 625 9.39 340,763 10,956
Inferred
Grey Eagle 1,637 0.41 663 21 5.03 8,243 265
Jumbo N 4,860 0.43 2,085 67 6.83 33,188 1,067
Jumbo S (Etna) 1,834 0.47 861 28 5.05 9,257 298
Thor 1,639 0.73 1,192 38 7.80 12,779 411
Total 9,971 0.48 4,801 154 6.37 63,467 2,041
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For comparative purposes the Resource is also shown below using the same 0.2 g/t gold cut-off
as was used in the 2015 PEA.
Gold Springs Resource Estimate - IDP Pit Constrained Resource by Category
0.20 grams/tonne cutoff
Resource Category
$1500 Au
Area Tonnage Au Ag
TONNES (000) G/T GRAMS (000) OZ (000) G/T GRAMS (000) OZ (000)
Measured
Grey Eagle 3,303 0.59 1,945 63 6.85 22,640 728
Jumbo N 10,826 0.46 4,975 160 11.92 129,077 4,150
Jumbo S (Etna) 2,675 0.55 1,477 47 6.22 16,637 535
Thor 222 0.95 210 7 18.16 4,033 130
Total 17,026 0.51 8,607 277 10.12 172,387 5,542
Indicated
Grey Eagle 4,953 0.55 2,717 87 6.74 33,370 1,073
Jumbo N 11,280 0.41 4,595 148 9.93 111,972 3,600
Jumbo S (Etna) 4,368 0.49 2,134 69 5.58 24,354 783
Thor 150 0.90 135 4 16.48 2,474 80
Total 20,751 0.46 9,581 308 8.30 172,169 5,535
Measured +
Indicated
Grey Eagle 8,255 0.56 4,662 150 6.78 56,010 1,801
Jumbo N 22,106 0.43 9,570 308 10.90 241,049 7,750
Jumbo S (Etna) 7,043 0.51 3,611 116 5.82 40,991 1,318
Thor 372 0.93 345 11 17.49 6,506 209
Total 37,777 0.48 18,188 585 9.12 344,556 11,078
Inferred
Grey Eagle 1,013 0.40 407 13 6.12 6,197 199
Jumbo N 3,068 0.40 1,223 39 6.73 20,638 664
Jumbo S (Etna) 2,013 0.42 846 27 4.82 9,695 312
Thor 24 0.61 15 0 10.59 253 8
Total 6,117 0.41 2,490 80 6.01 36,784 1,183
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Gold Springs Resource Estimate - IDP Geologic Resource by Category
0.20 grams/tonne cutoff
Resource Category
Geologic
Area Tonnage Au Ag
TONNES (000) G/T GRAMS (000) OZ (000) G/T GRAMS (000) OZ (000)
Measured
Grey Eagle 3,368 0.58 1,965 63 6.80 22,903 736
Jumbo N 12,143 0.45 5,446 175 11.31 137,351 4,416
Jumbo S (Etna) 2,877 0.53 1,536 49 5.97 17,161 552
Thor 1,363 0.59 808 26 9.41 12,816 412
Total 19,750 0.49 9,755 314 9.63 190,232 6,116
Indicated
Grey Eagle 5,751 0.52 2,977 96 6.30 36,239 1,165
Jumbo N 14,566 0.39 5,722 184 9.04 131,651 4,233
Jumbo S (Etna) 5,264 0.46 2,397 77 5.18 27,265 877
Thor 1,949 0.54 1,045 34 7.03 13,706 441
Total 27,530 0.44 12,141 390 7.59 208,861 6,715
Measured +
Indicated
Grey Eagle 9,119 0.54 4,941 159 6.49 59,142 1,901
Jumbo N 26,710 0.42 11,168 359 10.07 269,002 8,649
Jumbo S (Etna) 8,141 0.48 3,933 126 5.46 44,427 1,428
Thor 3,312 0.56 1,854 60 8.01 26,522 853
Total 47,281 0.46 21,896 704 8.44 399,093 12,831
Inferred
Grey Eagle 2,193 0.36 787 25 4.81 10,559 339
Jumbo N 6,773 0.37 2,514 81 6.34 42,916 1,380
Jumbo S (Etna) 2,731 0.39 1,063 34 4.48 12,224 393
Thor 2,374 0.57 1,354 44 6.11 14,500 466
Total 14,070 0.41 5,717 184 5.70 80,199 2,579
Global Resource Engineering (GRE) estimated the mineral resources for each of the four
mineral deposits within Gold Springs, t he Jumbo Trend including Jumbo North and Jumbo
South (Etna), Grey Eagle and Thor, by constructing a geologic model representing the
mineralized zones within each deposit including statistically and geostatistically analyzing the
drill hole data. This info rmation was used to define the parameters used to estimate gold and
silver grades into the 3 -dimensional block model. Three types of algorithms were used to
estimate grade for both gold and silver within each block model: Geologic solid model s of the
mineralized zones in each deposit were created in Leap frog and the grade for those solids was
estimated using inverse distance to the 2.5 power (ID2.5) for Jumbo N , Jumbo S (Etna), and
Thor, and inverse distance cubed (ID3) for Grey Eagle in 2015, ordinary kr iging (OK), and
nearest neighbor (NN) algorithms using Techbase and Micromodel . The results from each
method were very similar, validating the estimate. The inverse distance to a power ( IDP)
estimate is most comparable to prior estimates, is the preferred estimate, and is reported here.
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The data used for the estimation includes the following:
The drill holes in the Jumbo North area total 17,229.91 metres, and the channels total 161.87
metres. There are 9,813 gold and silver assay data values in the Jumbo North database.
The drill holes in the Jumbo South (Etna) area total 2,917.16 metres, and the channels total
329.19 metres. There are 2,071 gold and silver assay data values in the Etna database.
The drill holes in the Thor area total 2,890.03 metres. There are 1,233 gold and silver assay data
values in the Thor database.
The data includes 94 exploration holes and trenches in the Grey Eagle deposit totaling 12,401
metres. Within the Grey Eagle, deposit, there are 6,906 gold sample results.
The geologic solid model utilized a block model with 5 metre by 5 metre by 5 metre blocks (xyz)
and the geological interpretation of the mineralized envelope to isolate the mineralized domain
from non-mineralized rock and to control estimation of gold and silver near known faults. An
inverse distance 2.5 algorithm was used with a minimum of 2 drill holes.
GRE classified the Mineral Resource as Measured with an average distance of less than 25
meters from drill holes, Indicated with an average distance of 25 to 50 metres from holes, and
Inferred with an average distance between 50 metres and 100 meters.
GRE is not aware of any legal, political, environmental, or other risks that could materially affect
the potential development of the mineral resources at Gold Springs.
The Technical Report, including the 2017 Resource, is near completion and will be filed on
SEDAR on March 31, 2017.
G
old Equivalence: AuEq* was calculated using a gold/silver ratio of 61.9 and has not been
adjusted for metallurgical recoveries.
Qualified Person
The Mineral Resource has been prepared in accordance with the Canadian Institute of Mining,
Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves,
Definitions and Guidelines prepared by the CIM Standing Commit tee on Reserve Definitions
and adopted by the CIM by Ms. Terre Lane, Principal Mining Engineer for Global Resource
Engineering, Mr. Kevin Gunesch, Principal Mining Engineer for Global Resource Engineering
and Mr. Kurt Katsura, Consulting Geologist, all Qua lified Professionals as defined in National
Instrument 43 -101 Standards of Disclosure for Mineral Projects (NI 43 -101), and are
“independent” of the Company as defined in NI 43-101, and all have reviewed and approved the
technical information regarding the resource estimate in this release. TMI Assays were
performed in Sparks, Nevada by Bureau Veritas Mineral Laboratories, an ISO 9001:2000
Certified laboratory.
Cautionary Statement on Mineral Resources
This news release uses the term ‘measured resources’, ‘indicated resources’ and 'inferred
resources' which are terms recognized and required by Canadian regulations (under National
Instrument 43-101 Standards of Disclosure for Mineral Projects), however, such terms are not
defined terms under SEC Industry Guide 7 and are not permitted to be used in reports and
registration statements filed with the United States Securities and Exchange Commission.
Investors are cautioned not to assume that any part or all of the mineral deposits in these