Trevali Announces Closing of C$264,546,000 Bought Deal Financing and Amendment to Agreement to Purchase Glencore's Producing Rosh Pinah and Perkoa Zinc Mines

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 29, 2017) -

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Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces the closing of its previously announced bought deal private placement of subscription receipts (the "Subscription Receipts") at a price of C$1.20 per Subscription Receipt (the "Offering") for gross proceeds of C$264,546,000. The Offering was conducted by a syndicate of underwriters led by BMO Capital Markets and including Scotia Capital Inc., TD Securities Inc., Eight Capital, National Bank Financial Inc., Paradigm Capital Inc., Cormark Securities Inc., GMP Securities L.P., Haywood Securities Inc., and Raymond James Ltd. (collectively, the "Underwriters").

A total of 220,455,000 Subscription Receipts were sold pursuant to the Offering, including 28,755,000 Subscription Receipts as a result of the Underwriters' full exercise of an underwriters' option. The Subscription Receipts were distributed by way of a private placement in each of the provinces and territories of Canada, in the United States pursuant to applicable exemptions, and in certain international jurisdictions.

The net proceeds of the Offering will be used to fund a portion of the cash consideration payable to certain subsidiaries of Glencore PLC ("Glencore") whereby Trevali will acquire (the "Transaction") a portfolio of zinc assets from Glencore, including an effective 80% interest in the Rosh Pinah Mine in Namibia, an effective 90% interest in the Perkoa Mine in Burkina Faso, an effective 39% interest in the Gergarub project in Namibia, an option to acquire a 100% interest in the Heath Steele property in Canada and certain related exploration properties and assets for an aggregate purchase price of approximately US$400 million (the "Consideration"), and for general working capital purposes.

The gross proceeds of C$264,546,000, less 50% of the commission payable to the Underwriters and the Underwriters' expenses incurred to date, has been deposited into escrow and shall be released immediately prior to the completion of the Transaction upon the satisfaction of certain conditions (the "Release Conditions") in order to partially fund the Consideration. Each Subscription Receipt entitles the holder thereof to receive one underlying common share in the capital of Trevali (a "Common Share") for no additional consideration or further action on the part of the holder thereof upon satisfaction of the Release Conditions.