TORONTO, Dec. 6, 2013 /PRNewswire/ -- Trio
Resources, Inc. ("Trio" or the "Company") (OTCBB: TRII;
www.trioresources.com) is pleased to announce that it
has finalized plans with geologist Joerg Kleinbock of JMK
Exploration to begin exploration work at the Stairs gold mine. Mr.
Kleinbock will bring his many years of experience overseeing large
projects to his new role at the historical gold producer, where he
will handle all permitting requirements and day-to-day
management.
Trio signed the Stairs joint venture agreement in September 2013 with Teck Resources, committing
$1.5 million to be spent on the
property over a three year period to earn into the Company's
stake.
Phase 1 of the surface work, which includes compilation,
geophysics and geology, is anticipated to cost approximately
$250,000. Phase 1 drilling targets
are estimated at 5,000 meters at a cost of over $800,000 including assaying work. Phase 1's
administrative budget is estimated at $25,000. With positive results, Phase 2 estimates
will be announced for further drilling and analysis.
"Trio Resources remains on track with our strategy to finance
exploration work from the cash flows we expect to generate once our
new 100 ton mill is installed on our Cobalt property," stated
Duncan Reid, CEO of Trio Resources,
Inc. "Once the mill is commissioned, we can use it to monetize the
large quantities of silver-bearing material on the property.
Looking ahead, we plan to outfit the site with a 300 ton mill to
further ramp up production and maximize growth."
About Trio Resources, Inc.
Trio Resources, Inc. is an exploration and small-scale
processing company which plans to focus on the exploration and
milling of mineralized materials located in historically prolific
regions. Trio is organized to hold assets in the mining industry,
targeting older mining camps with residual value. Trio's intention
is to conduct an exploration program, in conjunction with milling
initiatives to monetize its existing above-ground mineralized
material on-site, with the purpose of being cash-flow positive
primarily through milling and marketing mineralized material and
concentrate to refiners. For more information, please visit
http://www.trioresources.com/.
Cautionary Note Regarding Forward-Looking Statements:
This Press Release contains forward-looking statements. Such
statements may include, but are not limited to, information related
to: our plans and objectives; anticipated operations and operating
results; potential exploration and exploration results;
relationships with refiners, purchasers and off-takers; demand for
mineralized materials; financial resources and condition;
anticipated sales, revenues and profitability; build-out of our
mill and milling capacity; changes in accounting treatment; cost of
sales; selling, general and administrative expenses; interest
expense; the ability to produce the liquidity or enter into
agreements to acquire the capital necessary to continue our
operations and take advantage of opportunities; legal proceedings
and claims. These statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to be materially different from any
future results, performances or achievements expressed or implied
by the forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as "plans," "intends,"
"anticipates," "believes," "seeks," "could," "estimates,"
"expects," "intends," "may," "potential," "predicts," "projects,"
"should," "would" and similar expressions intended to identify
forward-looking statements. Forward-looking statements reflect our
current views with respect to future events and are based on
assumptions and subject to risks and uncertainties. These risks and
uncertainties include, but are not limited to, the factors
described in our Report on Form 8-K/A filed with the SEC on
March 15, 2013, including the section
captioned "Risk Factors" therein. Given these uncertainties, you
should not place undue reliance on these forward-looking
statements. The forward-looking statements set forth herein reflect
our estimates and assumptions only as of the date of this press
release and are subject to change after such date. Except as
required by law, we assume no obligation to update any
forward-looking statements publicly, or to update the reasons
actual results could differ materially from those anticipated in
any forward-looking statements, even if new information becomes
available in the future. The forward-looking statements contained
in this press release are expressly qualified by this cautionary
statement.
Contact Information
Trio Resources, Inc.
Toll-Free: 855.321.TRIO (8746)
Fax: 855.321.4335
www.trioresources.com
Investor Contacts
KCSA Strategic Communications
+1 212.896.1215 / +1 212.896.1233
tfromer@kcsa.com / pcarlson@kcsa.com
Todd Fromer / Philip Carlson
SOURCE Trio Resources, Inc.
