TORONTO, Oct. 25, 2013 /PRNewswire/ – Trio Resources, Inc. (“Trio” or the “Company”) (OTCBB: TRII;www.trioresources.com) is pleased to announce that the Company has commenced its exploration program on the historic Stairs Gold Mine Property. The joint venture program with Teck Resources requires exploration work on the property over a three year period.
The Company is also pleased to report that a geological compilation on the Stairs Property has begun, which will help the Company identify exploration targets. Once the targets are identified, Trio will begin a work program in late fall 2013 consisting of geological mapping and prospecting. Exploration permits, which are required under the amended Ontario Mining Act, are currently being completed by the Company and will be submitted to the Ministry of Northern Development and Mining. This work will be headed by Trio’s consulting geologist, JMK Exploration and Consulting.
”We are excited to start work at the historic Stairs property with its rich production history and abundant resources,” stated Duncan Reid, CEO of Trio Resources, Inc. “Our short term plans include identifying above ground assets on the property that have potential for monetization as well as confirming targets for drilling programs and feasibility studies. Unlike other junior mining companies, we are executing on our unique business strategy in which we aim to realize cash flows via our wholly-owned milling facility located in Cobalt, Ontario.”
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.
Trio Resources, Inc.
Toll-Free: 855.321.TRIO (8746)