TriMetals Mining Inc. (TSX:TMI) (TSX:TMI.B) (OTCQX:TMIAF) (OTCQX:TMIBF) is pleased to announce that it has closed a non-brokered private placement of units consisting of CAD$2,296,000 principal amount convertible notes bearing 6% interest and maturing July 23, 2018 and 7,446,486 common share purchase warrants for gross proceeds of CAD$2,296,000.
 

Ralph Fitch, President stated, “This financing shows the strong support we have from our investors and supports our strong belief that the Gold Springs Project in mining friendly Nevada/Utah has significant potential to expand and will be supportive of higher market valuations when the gold price improves which of course it will. Importantly this financing includes warrants at CAD$0.10 and the note converts at CAD$0.20 and it leaves the Gold Springs Project free and clear of any liens.”
 

If the repayment of the Notes on the maturity date would expose the Company to undue financial hardship, then the Company has the right to extend the maturity date to July 23, 2020 for no additional consideration.
 

Notwithstanding the foregoing, if the Company receives a cash payment pursuant any award or settlement in the arbitration by its subsidiary against Bolivia of at least USD$5 million (after the payment of all Malku Khota Arbitration Expenses and the Class B Share Entitlement, each as defined in the Company’s Articles), the holders shall have the right to demand repayment of the outstanding principal amount of the Notes and accrued interest thereon, in cash, within 60 days of the first public disclosure by the Company of receipt of such net cash payment.
 

The holders of the Notes have the option to convert all or any portion of the outstanding principal amount of the Notes into common shares of the Company at any time at the conversion price of CAD$0.20 per share. If the closing price of the common shares of the Company on the TSX is at least CAD$0.40 for 10 consecutive trading days, the Company has the right to convert all or any portion of the outstanding principal amount of the Notes into common shares, without penalty. Shares issued to repay the principal amount of the Notes shall be issued at the Conversion Price, while accrued interest on the converted portion of the Notes shall be paid in cash.
 

The Notes will be secured by a pledge of approximately 20.7% of the shares of TriMetals Mining Chile SCM (formerly South American Silver Chile SCM), a wholly owned subsidiary of the Company.
 

Each Warrant is exercisable to purchase one common share of the Company at the exercise price of CAD$0.10 per share until July 23, 2017.
 

The proceeds of the Private Placement are expected to be used for general corporate purposes, including payment of interest on the Notes, and to fund limited exploration and development activities at the Gold Springs project located in the in the states of Nevada and Utah, U.S.A.
 

The Notes, Warrants, and any shares issued upon conversion of the Notes or exercise of the Warrants, are subject to a statutory hold period expiring November 24, 2015.
 

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile; and realization of value from the expropriated Malku Khota project in Bolivia through an arbitration process.
 

The Company’s approach to business combines the team’s track record of discovery and advancement of large projects, 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.