Tuesday July 18, 3:02 pm Eastern Time
Company Press Release
SOURCE: Trivalence Mining Corporation
via BCE Emergis e-News Services
Trivalence Mining Corporation - Alluvial Resource Estimate
Vancouver, BC
The Company is pleased to report resource estimates from alluvial sources on its 85% owned 1,012 square kilometer Aredor Diamond concession located in Guinea, West Africa. Resource estimates, described in a Resource Report, which was independently reviewed and confirmed by Tania Marshall Ph.D. (the ``Reports'') outlines the following resource estimates:
RESOURCE CATEGORY TONNES CARATS GRADE
CARATS
PER TONNE
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INDICATED 8,676,282 461,282 0.053
INFERRED 10,414,563 864,927 0.083
TOTAL 19,090,845 1,326,209 0.069
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The Company began producing diamonds from alluvial sources at Aredor in May/1996 and up to June 30,2000 had recovered 100,487 carats of diamonds from 1,994,728 tonnes of alluvial material for a recovered grade of 0.05 carats per tonne. In the same period, the Company has sold a total of 81,053 carats of diamonds for US$37,997,781 for an average of US$469 per carat. Included in these sales figures are three stones which have sold for over US$1,000,000 each (a 70 carat stone sold for US$2,765,000 in Nov/97, a 146 carat stone sold for US$1,972,000 in June/99, a 25.4 carat stone sold for US$1,317,000 in June/2000).
At present capacity, the outlined resources are capable of supporting the alluvial operations at Aredor for the next ten years. The Company is presently in the process of acquiring more heavy earth moving equipment to supplement its two production plants at the Aredor mine. The resource estimates reported apply only to river flats and terraces tested by auger drilling. Several waterways on the concession are presently untested, and represent suitable areas for further alluvial exploration. The report does not address resources from any of the 12 known kimberlites on the concession. The Reports were filed with and reviewed by the Canadian Venture Exchange prior to this news release.
Further to the Company's news release dated March 27, 2000, the Company has received Exchange acceptance to and has closed the agreement to acquire the ``PEM 1510'' exploration permit located in the Ungava Bay area of Quebec. The $150,000 summer exploration program is scheduled to begin Aug. 1, 2000.
Trivalence Mining Corporation is a publicly traded mineral exploration and development Company with a primary focus on diamonds. The Company owns an 85% interest in the Aredor diamond mine in Guinea, West Africa, and a 50% interest in the Palmietgat kimberlite diamond mine currently under development in South Africa. In addition to its investments in the Aredor and Palmietgat mines, Trivalence is conducting Kimberlite exploration programs at the 1,012 square km Aredor concession, the 3,664 square km Kokong property in Botswana and the 52 square km Weymouth property located at Ungava Bay Quebec, Canada.
Lutfur Rahman Khan
President & C.E.O.
For further information, contact
Warren Robb or Omer Nizami
Phone: (604) 684-2401 Toll Free: 1-888-273-3671
Facsimile:(604) 684-2407
Email: tmi@intergate.bc.ca
Website:ww.trivalence.com
The Company relies upon litigation protection for ``forward looking'' statements.
The Canadian Venture Exchange neither approves nor disapproves of the contents of this News Release.
(CDNX:TMI, OTCBB:TMIGF)
SOURCE: Trivalence Mining Corporation
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