Wednesday September 13, 2:14 pm Eastern Time
Press Release
SOURCE: Trivalence Mining Corporation
via BCE Emergis e-News Services
Trivalence Mining Corporation - Diamond Sale Tops US$4.7 Million
Vancouver, British Columbia
The Company is pleased to report sales figures from the first diamond sale of its new fiscal year beginning July 1, 2000. The sale was held in Conakry, Guinea by sealed tender and was attended by 13 bidders. The sale consisted of 11,727.6 carats of rough diamonds recovered from the Company's 85% owned Aredor mine located in Guinea. The sale was comprised of 6 parcels of gem quality diamonds weighing 5618.9 carats which sold for US $ 4,393,227and one parcel of near gem diamonds weighing 6,108.7 carats which sold for US $367,134. The average price per carat of the gem quality diamonds was US $781.86 and the average price per carat of the near gems was US $60.09. The Company is extremely encouraged by the levels and quality of diamond produced in the first two months of its current fiscal year. This first sale of the current year represents 35% of the total diamonds sold and 31% of the sales revenue generated during the entire fiscal year ending June 30, 2000. The Company is continuing with its expansion plans to increase diamond production levels at the Aredor mine.
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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.
SOURCE: Trivalence Mining Corporation
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