Trevali Mining Corporation (TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) is pleased to provide an underground development update as well as the initial grade comparison results from the Magistral North and Central Deposits at its Santander Mine in Peru.
 

UNDERGROUND DEVELOPMENT
 

Development is progressing well. To date eight levels are in place in addition to 12 sub-levels in the Magistral North and Central deposits, four levels – 7 sub-levels and four levels and 5 sub-levels respectively. The ninth level will open the Magistral South zone for exploitation and is scheduled to be in place by month end.

All three Magistral deposits (North, Central and South) are accessed by individual production ramps. The North and Central deposits are connected and break-through from Central to South deposits is anticipated in Q3. This will allow implementation of one-way, high-speed, trackless mining system in addition to enabling greater flexibility for mining planning, scheduling and extraction purposes. It should also greatly reduce the potential for underground bottlenecks for Mill feed. Once this is in place, 2013 development will be largely complete and the joint Trevali-Glencore-JRC mining team will re-focus on long-range mine planning and commence driving 2014 development.
 

With substantial development now complete the underground team is currently implementing a variety of optimization initiatives focusing on personnel skills, operating procedures, enhanced mining and mucking procedures and a proactive ‘pit-stop’-style fleet maintenance program.
 

Santander Mill commissioning continues to progress and the Company anticipates Zn and Pb-Ag concentrate production soon followed by initial concentrate shipments.
 

MAGISTRAL GRADE COMPARISON STUDIES
 

Initial underground grade comparison studies of mined development material – to underground channel samples – to the NI 43-101 resource estimate is encouraging – the data is essentially within natural geological error (Table 1).
 

This initial comparison considers only the limited areas of development in mineral from the Magistral North and Magistral Central  deposits for which the Company has received geochemical assays from its on-site laboratory.

                                                    ------------------------

                                                          Metal Content

                   ---------------------------------------------------------

                               Zn    Pb    Cu     Ag     t    t    t

                     tonnes     %     %     %   Oz/T    Zn   Pb   Cu   Oz Ag

----------------------------------------------------------------------------

Channel    MN        21,998  4.11  2.80  0.11   2.10   904  615   25  46,155

Samples    MC         9,523  5.93  0.82  0.11   1.86   565   78   10  17,693

(i)                ---------------------------------------------------------

                   ---------------------------------------------------------

           MN+MC

            Total:   31,521  4.66  2.20  0.11   2.03 1,469  693   35  63,848

----------------------------------------------------------------------------

NI         MN (at 5

43-101      COG)     21,870  4.06  3.07  0.10   2.34   887  672   22  51,283

(ii)       MC (at 5

            COG)      7,975  6.48  1.33  0.12   3.04   517  106    9  24,212

                   ---------------------------------------------------------

                   ---------------------------------------------------------

           MN+MC

            Total:   29,845  4.70  2.61  0.10   2.53 1,404  778   31  75,496

----------------------------------------------------------------------------

Surface    MN        27,170  3.57  2.61  0.09   1.94   970  710   25  52,598

StockPiles MC         8,128  6.68  0.65  0.11   1.40   543   53    9  11,394

(iii)              ---------------------------------------------------------

                   ---------------------------------------------------------

           MN+MC

            Total:   35,298  4.29  2.16  0.09   1.81 1,513  763   34  63,992

----------------------------------------------------------------------------

      Table 1: Comparison of Block Models to Surface Muck Pile samples

(i)   Trevali internal block model based on Channel Samples

(ii)  NI 43-101 compliant Resource Estimate, by Golder Associates (please

      refer to news release dated July 05, 2012)

(iii) Surface Stockpiles estimated by survey and muck samples

The Company cautions that full reconciliation of the tonnes and grade will only occur once the material has been processed in the Mill.

ABOUT TREVALI MINING CORPORATION
 

Trevali is a zinc-focused base metals mining company with operations in Canada and Peru.
 

In Peru, the Company has commenced commissioning at its Santander zinc-lead-silver mine where subsequent ramp up to the planned 2,000-tonnes-per-day production is anticipated by mid-year 2013.
 

In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat polymetallic deposit all located in the Bathurst Mining Camp of northern New Brunswick. Initial trial production from the Halfmile underground mine was successfully undertaken in 2012 and the Company anticipates commencing operations at its 3,000-tonne-per-day Caribou Mill Complex in 2014.
 

All of the Company’s deposits remain open for expansion.