TriMetals Mining's Subsidiary, South American Silver Ltd., Provides Update on the Arbitration Against Bolivia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 2, 2015) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF) (the "Company") reports that on March 31, 2015 the Plurinational State of Bolivia ("Bolivia") filed its Statement of Defense and Counter-Memorial (on the Merits and including Objections to the Tribunal's jurisdiction), a witness statement, expert reports and supporting documents, in the international arbitration filed against Bolivia by the Company's Bermudan subsidiary, South American Silver Limited, seeking full compensation for Bolivia's expropriation of the Malku Khota project by supreme decree dated August 1, 2012.
Bolivia's submission of these pleadings was made in accordance with the procedural calendar included in Procedural Order No. 1, as revised by Procedural Order No. 5, and marked the conclusion of the preliminary Written Pleadings phase and the beginning of the Document Production phase. This will be followed by a second round of written pleadings and a hearing on the merits which is currently scheduled for May 2016.
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.
South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Limited., owns 100% of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their expropriation by the Bolivian Government.
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". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
Forward-looking statements
This News Release contains forward-looking statements, including statements regarding the expected timing of the hearing on the merits in the arbitration proceedings against Bolivia. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. 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, the advancement of the international arbitration process in a customary manner and in accordance with Procedural Order No.1 and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include the advancement of the international arbitration process in the customary manner and in accordance with Procedural Order No.1.
Subject to applicable laws, 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 News Release describe the Company's expectations as of April 2, 2015.
Contact
TriMetals Mining Inc.
Ralph Fitch
President & CEO
303.584.0606
ralphfitch@trimetalsmining.com
TriMetals Mining Inc.
Matias Herrero
Chief Financial Officer
303.584.0606
mherrero@trimetalsmining.com
www.trimetalsmining.com