TriMetals Mining closes $3.5M brokered private placement

pcNewsWireTriMetals Mining Inc. (TSX: TMI; OTCQX: TMIAF) has closed its previously announced brokered private placement of 14,600,000 units at $0.24 per unit for gross proceeds of $3.5 million.

A syndicate of agents led by BMO Capital Markets and including PI Financial Corp. and GMP Securities L.P. cted as agents in connection with the offering.

News Release

Not for distribution to U.S. news wire services or dissemination in the United States.

TriMetals Mining Announces Closing of $3.5 Million Private Placement

June 2, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, OTCQX: TMIAF) (the “Company” or “TMI”) is pleased to announce that it has closed its previously announced brokered private placement of 14,600,000 units of the Company (the “Units”) at a price of $0.24 per Unit (the “Offering”) for gross proceeds to the Company of $3.5 million. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at a price of $0.30 for a period of 30 months.

A syndicate of agents led by BMO Capital Markets and including PI Financial Corp. and GMP Securities L.P. (collectively, the “Agents”) acted as agents in connection with the Offering.

The Agents have been granted an option, exercisable in whole or in part for a period of 14 days from the date hereof, to arrange for the purchase of up to an additional $1,500,000 of Units.
The Corporation intends to use the net proceeds from the Offering of $3,048,000 for the continued exploration and resource expansion at the Gold Springs gold-silver project and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 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.

The Company’s common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on the OTCQX market under the symbol “TMIAF” and “TMIBF”. Note that the Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder’s portion thereof) received by TMI from award or settlement in relation to the Company’s subsidiary South American Silver Limited’s arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012. Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.

The TSX has not approved or disapproved of the contents of this news release.

TriMetals Mining Inc. Contact:

Ralph Fitch President & CEO
303.584.0606
ralphfitch@trimetalsmining.com

Matias Herrero
Chief Financial Officer
303.584.0606
mherrero@trimetalsmining.com