VANCOUVER, BC / ACCESSWIRE / January 30, 2019 / TriMetals Mining Inc. (TMI.TO) (TMIAF), (''TMI'' or the ''Company'') announces that Mr. Eric Edwards has submitted his resignation as TMI's President and Chief Executive Officer and from TMI's Board of Directors effective January 31, 2019.
The Board of Directors of TMI are grateful for Mr. Edwards' achievements while at TMI. He joined TMI in January 2018 and was successful in streamlining and focusing the Company. In the past year, the Company has signed a divestiture agreement for the Escalones Copper Project in Chile, received the award notification regarding expropriation of the Malku Khota project in Bolivia for US$28 million (including interest), and has minimized administration and overhead costs. The Company no longer has any secured debt after having recently completed a conversionof US$1.7 million in secured debt into common shares.
Mr. Matias Herrero has been appointed as Interim Chief Executive Officer effective February 1, 2019. Mr. Herrero previously served as Chief Financial Officer of the Company from July 2012 through October 2017. Mr. Herrero is a CA, CPA, with 14 years of mining industry experience and was involved with TMI in the Malku Khota arbitration proceedings from the beginning.
Mr. Van Doorn, Chairman of the Company, stated: ''TMI welcomes Mr. Herrero back to the Company where his knowledge of our claim against Bolivia will be very valuable and we expect Mr. Herrero to be able to continue with the cost savings measures that Mr. Edwards has implemented.''
About TriMetals Mining Inc.
TriMetals Mining Inc. (TSX: TMI and OTCQX: TMIAF) is a growth-focused gold exploration company creating value through the exploration and development of the near-surface Gold Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A.
The Company's Class B shares are listed on the Toronto Stock Exchange under ''TMI.B'' and have no interest in the properties or assets of the Company other than the collective entitlement to 85% of the net cash, if any (after deducting all costs, taxes and expenses and the amount due to a third party that funded the costs of the arbitration), received by the Company from an award or settlement in relation to South American Silver's arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012.
TriMetals Mining Inc. Contact:
Robert van Doorn
Certain statements contained herein constitute ''forward-looking information'' under applicable Canadian securities laws (''forward-looking statements''). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as ''shall'', ''will'', and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of the date hereof.
SOURCE: TriMetals Mining Inc.