Name and Location
Caribou zinc/lead/silver mine and mill complex, New Brunswick, Canada.

Client
Trevali Mining Corporation.

Project Description
The base case preliminary economic assessment (PEA) on the Caribou project has indicated positive economic results.

The project involves the restart of the Caribou mine project, through the reactivation of the 3 000 t/d Caribou mill complex and the associated underground deposit.

Underground operations will take advantage of the existing extensive historical development and infrastructure. A centralised ramp-trucking system will serve as the main access for the mine. The main mining method will be modified Avoca with waste-rock backfill, with the exception of a long-hole retreat mining method for partial sill pillar recovery near the end of mine life.

The processing circuit will consist of a 3 000 t/d semiautogenous grinding and milling circuits, including fine-grinding IsaMills, with standard sulphide flotation recovery circuits to produce three concentrates – zinc, lead/silver and copper/gold. The average life-of-mine (LoM) modelled head grade for mill feed is 6.11% zinc, 2.49% lead, 0.34% copper, 67.9 g/t silver and 0.86 g/t gold.

LoM metallurgical recoveries used in the PEA are 84% for zinc, 65% for lead, 45% for copper, 37.5% for silver and 10.6% for gold. No optimisation of precious metal recoveries has occurred to date but is being evaluated.

Value
Preproduction capital expenditure is estimated at $36.3-million.

Duration
Commissioning of operations is expected in the first half of 2015.

Latest Developments
Opportunities for optimisations and potentially enhanced economics have been identified in the PEA, as about three-million tonnes of mineralised material is not currently included in the mine plan and provided that the deposit remains open for expansion.

Key Contracts and Suppliers
SRK Consulting (Canada), in collaboration with Trevali (underground mine modelling, general and administration costing and project economics), Stantec Consulting (environmental and permitting), Holland & Holland Consulting (metallurgical and processing).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Trevali Mining Corporation, tel +1 604 488 1661, fax +1 604 408 7499 or email info@trevali.com.
SRK Consulting, tel +1 604 681 4196, fax +1 604 687 5532 or email vancouver@srk.com.
Stantec Consulting investor relations, tel +1 780 969 3349 or email investor.relations@stantec.com.