News Release

Trevali delivers fourth sulphide body - drilling intersects significant silver--lead--zinc mineralization at Puajanca Silver values up to 9.4 oz/t (320 g/t)

December 16, 2009

Highlights include:
SAN-105 -- 3.95 metres at 90.3 g/t (2.6 oz/t) silver, 5.18% lead and 8.19% zinc
SAN-104 -- 7.2 metres at 83.8 g/t (2.4 oz/t) silver, 2.98% lead and 4.75% zinc

Vancouver, British Columbia...Trevali Resources Corp. ("Trevali" or the "Company") (CNSX: TV, Frankfurt: 4TI, Pink Sheets: TREVF) is pleased to announce that initial drill results from its 2009 resource expansion program have confirmed the presence of significant polymetallic mineralization at its Puajanca Zone. Drillhole SAN--104 intersected silver values up to 9.4 oz/t (320 g/t) with associated lead and zinc values reaching 8.29% and 5.13% respectively. Recent surface results coupled with the current drill assays indicate that high-grade mineralization extends from surface to 260 metres vertical depth (Fig. 1). Mineralization remains open for expansion and has excellent additional depth potential. The Company has currently completed thirty holes of its 2009 -- 2010 resource expansion program and drilling is ongoing.

Key highlights include:

  • Drilling of the Puajanca Zone has tested only 60 metres of the 420-metre strike extent (based on surface mapping) and only 260-metres vertical extent -- suggesting significant upside potential.
  • Mineralization is presently defined in two core areas -- Puajanca North and Puajanca South. At Puajanca South, surface channel samples returned up to 24 metres at 83 g/t (2.4 oz/t) Ag, 6.22% Pb and 4.46% Zn. Puajanca North has been mapped over a 100-metre strike length, returning average values of 220 g/t (6.4 oz/t) Ag, 15.59% Pb and 7.18% Zn (22 samples). (see news release TRC-NR-09-16 for details).
  • Mineralization is spatially associated with the southeastern margin of a very large geophysical anomaly (approximately 1km2) that may represent the hydrothermal system source at depth -- again positively reinforcing the strong exploration fundamentals of the Puajanca Zone.

The Puajanca Zone is located within 1 kilometre of the Magistral North deposit (Fig. 2).

The productive Magistral trend has only been drill tested along 600 metres of its 14 kilometre strike length but hosts the three Magistral Deposits (North, Central and South). The 3-kilometre long Puajanca Mineral Fairway forms a second, very high priority target corridor containing numerous target zones (Fig. 2).

Work to date at Puajanca indicates that the mineralized zone averages approximately 30 metres thick within which high-grade semi-massive to massive sulphide replacement zones occur. The number of these higher grade zones is increasing with depth -- only one was intercepted in drillhole SAN-105 whereas SAN-104 contains two such intervals (Fig. 1 and Table 1).

Assay results to date indicate that Puajanca has the potential to form a third silver-rich replacement body similar to the Magistral North and Central deposits. Future work will seek to expand upon this.

"These results form a solid start to our aggressive 2009-2010 resource expansion and discovery program," states Mark Cruise, Trevali's President and CEO. "The Company looks forward to a continuous flow of positive drill results in the coming months culminating in an updated NI43-101 resource estimate and PEA study in addition to advances on the engineering side from our valued partners Glencore International as we advance towards production."

Table 1: Summary assay results - Puajanca Zone

Zone / Borehole

(dip / azimuth)

From -- To




Ag oz (g/t)

Pb %

Zn %



(-45?_ / 90?_)

99.8 -- 135.1m

Inc 99.8 - 107m

Inc 113.55 -- 117.9m

Inc 114.7 -- 115.7m





1oz/t (35g/t)

2.4oz/t (83.8g/t)

3.2oz/t (111.2g/t)

9.4oz/t (320.6g/t)











(-10˚ / 90˚)

2.6 -- 31.95m

Inc 18.3 -- 31.95m

Inc 28 -- 31.95m




0.6 oz/t (20.2g/t)

1 oz/t (35.8g/t)

2.6 oz/t (90.3g/t)









(-10?_ / 90?_)

27.45 -- 28.45m


1.7 oz/t (59.5g/t)



Boreholes SAN-101 to 103, 106 and 107 are short geotechnical holes drilled for civil engineering purposes on the Santander Plant site testing ground conditions below the future Mill, Tank House and Coarse Ore bins.

Figure 2: Summary geological map of Puajanca -- Santander Mineral Fairway.

The Company further announces that, pursuant to its 2007 Incentive Stock Option Plan, it has granted incentive stock options to certain directors, officers and consultants allowing them to purchase up to an aggregate of 1,611,879 common shares in the capital stock of the Company. The options are exercisable at a price of CAD $0.95 for a period of two years ending December 16, 2011.

The Santander silver-lead-zinc mine project is located approximately 215 km by road from Lima, in the western extent of Peru's world-class Central Mineral Belt. The mine previously operated from 1958-1993 targeting a single Carbonate Replacement Deposit--type pipe and manto structure, the Santander Orebody.

Substantial site infrastructure includes a fully refurbished 200-man camp and the Tingo hydroelectric power-station located 17 km down-valley to the west. The Santander project and the considerable existing infrastructure form a highly strategic asset in this mining district. The Company commenced exploration at Santander in November 2007 discovering four new high-grade silver-lead-zinc replacement and massive sulphide bodies to date.

A recently completed independent resource estimate of the three Magistral deposits reviews a total Indicated Mineral Resource of 5,298,000 tonnes with an average grade of 3.34% zinc, 1.27% lead and 38 g/t silver (using a 2% ZnEQ* cut-off grade) -- for a contained metal inventory of 390 million lbs. zinc, 149 million lbs. lead and 6.5 million oz. silver in the Indicated category. An additional Inferred Mineral Resource of 2,244,000 tonnes grading 2.92% zinc, 0.50% lead and 18 g/t silver was also reviewed in the three deposits using the same cut-off grade -- for contained metals of 144 million lbs. zinc, 25 million lbs. lead and 1.3 million oz. silver. All three Magistral bodies remain open at depth and to the East.

Additionally, a further 100 million contained lbs. of zinc are estimated to be present in the 1,656,000 indicated tonnes grading at 2.74% zinc (using a 2.0% zinc cut-off grade) at the Santander Tailings Impoundment.

*ZnEQ = ((Ag Price(g) x Ag Recovery x Ag Grade) + (Pb Price(t) x Pb Recovery x (Pb Grade(%)/100)+(Zn Price(t) x Zn Recovery x (Zn Grade(%)/100)))/Zn Price(t). Golder utilized the three year rolling average price for all three metals. Price for silver is per gram ($0.43339) and that for Pb ($1,983) and Zn ($2,742) is per tonne. A recovery of 85% was applied to Ag, 94% for Pb and 91% for Zn based upon Trevali's metallurgical testwork. A 2% ZnEQ* cut-off grade is the nominal base case estimated grade of material that can be mined and processed considering all applicable costs.

EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company, as he is an officer and shareholder.

The work programs at Santander were designed by, and are supervised by, Dr. Mark D. Cruise, President & CEO, Trevali, and Tim Kingsley (independent geological consultant), who together are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Vancouver, for assay. ACME's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by Trevali personnel in order to independently assess analytical accuracy. Finally, representative blind duplicate samples are routinely forwarded to ACME and an ISO-compliant third party laboratory for additional quality control.

The resource estimates on the Magistral North, Central and South deposits were conducted by and under the supervision of Kevin Palmer P.Geo., an independent qualified person employed by Golder Associates Ltd. of Vancouver, Canada.

The Company in conjunction with partner Glencore International A.G. has entered into a definitive development agreement for the Santander project that will see Glencore provide and operate a 2,000-tonne-per-day concentrate plant, undertake mining operations on a 'contractor/toll basis' and enter into a long-term concentrate offtake agreement for 100% of Santander project production at benchmark terms.

Additionally, through its wholly owned subsidiary Trevali Renewable Energy Inc., the Company is undertaking a significant upgrade of the Tingo run-of-river hydroelectric generating facility along with transmission line upgrades and extensions to allow the potential sale of surplus power into the Peruvian National Energy Grid.

The common shares of the Company are currently listed on the CNSX (symbol TV). For further details on the Company, readers are referred to the Company's web site ( and to Canadian regulatory filings on SEDAR at

On Behalf of the Board of Directors of

"Mark D. Cruise" (signed)
Mark D. Cruise, President

Contact Information: Steve Stakiw, Manager -- Corporate Communications

Phone: (604) 488-1661 / Fax: (604) 408-7499

The CNSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.