TriMetals Mining Inc. Completes Very Positive NI 43-101 Compliant PEA at Gold Springs

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTXQX:TMIBF), a gold stock, is pleased to announce the completion of its very positive first 43-101 compliant Preliminary Economic Assessment ("PEA") at the Gold Springs gold-silver project in mining friendly Nevada/Utah, USA.

The PEA supports:

• a 9 year, 10,000 tpd "heap-leach" project;
• a pre-tax NPV_5%of US$162 million;
• a pre-tax IRR of 57.5%;
• a cash cost of US$614/AuEq*oz; and
• total costs of US$749/AuEq*oz.

These estimates were made using the previously disclosed 2014 mineral resource estimate for Gold Springs, a $1,300/oz gold price and $21/oz silver price and assumes contractor mining. The Company has so far only drilled portions of 2 of 18 areas of outcropping gold mineralization and none of the buried geophysical targets at Gold Springs.

The entire Technical Report containing the PEA can be viewed under the Company's profile on SEDAR or on the Company's website at:

www.trimetalsmining.com

Ralph Fitch, President and CEO stated, "As I alluded to in my recent Letter to Shareholders a strongly positive PEA such as the one announced here moves the Company from the realm of exploration speculation to a Company with an asset with an estimated value that can be moved towards production by completion of engineering studies. The massive advantage the Company has is that less than 10% of the prospective areas at Gold Springs have been drilled, so even though the present resource estimate provides the ounces for a strongly positive PEA, there is a significant opportunity to expand the estimated resource through drilling and further enhance both the project and Company's common share-valuation."

Importantly the study also reviewed economics at lower gold prices and the project returned a positive pre-tax net present value with a discount rate of 5% ("NPV5%") of $82 million with a pre-tax 33% internal rate of return ("IRR") even at a $1,000/oz gold price.

Lane and Associates Inc. was contracted to complete a Scoping Study on the Gold Springs Project which was upgraded into a PEA supported by a National Instrument 43-101 compliant Technical Report. The concept was to assess whether the present project could potentially be developed into a profitable operation.

The issue was studied by developing a series of pits using the existing Gold Springs resource estimate starting with the highest grade material and lowest production rate, Case 1, to a pit including the lowest mineable grade and a higher production rate, Case 7.