Q2-2018 Results Presentation · 2018. 8. 10. · Trevali –Q2 2018 Consolidated Results 6 Summary Financial Results (US$ millions, except per-share amounts) Consolidated Production

TSX: TV | www.trevali.com

Q2-2018 Results Presentation


Perkoa Rosh Pinah

Santander Caribou

August 9, 2018


Cautionary Note Regarding Forward-Looking Statements:

2

This presentation contains “forward-looking information” (also referred to herein as “forward-looking statements”) under the provisions of applicable Canadian

securities legislation. Generally, these forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”,

“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or

results “may”, “could”, “would”, “might” or “will”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking statements include, but are not limited to, those in respect of: the economic outlook for the mining industry; expectations regarding metal prices;

the timing and amount of estimated future production; the current and planned commercial operations, initiatives and objectives in respect of certain projects of

Trevali Mining Corporation (“Trevali” or “TV”), including the Perkoa, Caribou, Rosh Pinah and Santander mines (the “Mines”); the estimation of mineral reserves

and mineral resources; the realization of mineral reserve estimates, changes in mineral resources and conversion of mineral resources to proven and probable

mineral reserves; Trevali’s current and planned exploration initiatives; strategies and objectives in respect of the Mines; liquidity, capital resources and

expenditures; sustainability and environmental initiatives and objectives; business development strategies and outlook; leverage metrics; debt repayment

schedules; planned work programs and drilling programs in respect of the Mines; achieving projected recovery rates; anticipated mine life, recovery rates and

operating efficiencies; costs and expenditures, including capital and operating costs; costs and timing of the development of new deposits; off-take obligations;

targeted cost reductions; exploration and expansion potential; success of exploration activities; permitting and certification timelines; currency fluctuations;

requirements for additional capital; government regulation of mining operations; environmental matters; closure obligations and unanticipated reclamation

expenses; title disputes or claims; limitations on insurance coverage; the timing and possible outcome of pending litigation; and other information that is based

upon forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause actual results, performance or

achievements to be materially different from future results, performance or achievements expressed or implied by such statements. Assumptions have been

made regarding, among other things: present and future business strategies and the environment in which Trevali will operate in the future, including commodity

prices, anticipated costs and ability to achieve goals; Trevali’s ability to carry on its exploration and development activities; Trevali’s ability to meet its obligations

under property agreements; the timing and results of drilling programs; the discovery of mineral resources and mineral reserves on Trevali’s mineral properties;

the timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation

of Trevali’s mineral projects; the costs of operating and exploration expenditures; Trevali’s ability to operate in a safe, efficient and effective manner; Trevali’s

ability to obtain financing as and when required and on reasonable terms; Trevali’s ability to continue operating; dilution and mining recovery assumptions;

assumptions regarding stockpiles; the success of mining, processing, exploration and development activities; the accuracy of geological, mining and

metallurgical estimates; no significant unanticipated operational or technical difficulties; maintaining good relations with the communities; no significant events or

changes relating to regulatory, environmental, health and safety matters; certain tax matters; and no significant and continuing adverse changes in general

economic conditions or conditions in the financial markets (including commodity prices, foreign exchange rates and inflation rates). Readers are cautioned that

the foregoing list is not exhaustive of all factors and assumptions which may have been used.


Cautionary Note Regarding Forward-Looking Statements (cont.):

3

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity,

performance or achievements of Trevali and/or the Mines to be materially different from those expressed or implied by such forward-looking statements,

including but not limited to, those in respect of: risks related to the integration of acquisitions; volatility of the price of zinc, lead, silver and other metals;

international operations including economic and political instability in foreign jurisdictions in which Trevali operates; current global financial conditions; joint

venture operations; actual results of current and planned exploration activities; actual results of drilling programs; discrepancies between actual and estimated

production, mineral reserves and mineral resources, grade and metallurgical recoveries; failure to replace mineral reserves; mining operational and development

risks; actual results of current reclamation activities; environmental policies and risks; conclusions of economic evaluations; changes in project parameters as

plans continue to be refined; changes in the market, demand, supply and/or uses of zinc and copper; accidents; labour disputes; delays in obtaining

governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry; inaccuracies or changes

in the consolidated zinc production, exploration and operational guidance for the Mines; inaccuracies or changes in the analysis of the exploration potential of the

Mines; failure to complete the work programs or drilling programs at the Mines; delays, suspensions or technical challenges associated with capital projects;

risks relating to reliance on historical data; failure of plant, equipment or processes to operate as anticipated; inaccuracies or changes in the growth pipelines of

the Mines; taxation risks; title risks; opposition from community or indigenous groups; compliance with laws, including environmental laws; exchange controls;

higher prices for fuel, steel, power, labour and other consumables; political or economic instability and unexpected regulatory changes; as well as those factors

discussed in the section entitled “Risk Factors” in Trevali’s most recent management’s discussion and analysis and annual information form available under

Trevali’s profile on SEDAR at www.sedar.com.

Although Trevali has attempted to identify important factors, assumptions and risks that could cause actual results to differ materially from those contained in

forward-looking statements, there may be others that cause results not to be as anticipated, estimated or intended. There can be no assurance that such

forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking

statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are based on the beliefs,

expectations and opinions of management on the date the statements are made and, accordingly, are subject to change. Trevali assumes no obligation to

update any forward-looking statements that are included in this presentation, whether as a result of new information, future events or otherwise, except as

required by law.

Non-IFRS Measures

This presentation refers to “EBITDA” (earnings before interest, taxes, depreciation and amortization), “free cash flow”, “site cash operating cost per tonne milled”,

and “site cash operating cost per pound of payable zinc equivalent produced”, which are financial performance measures with no standard meaning under

International Financial Reporting Standards (“IFRS”). Such non‐IFRS financial measures do not have any standardized meaning prescribed by IFRS and are

therefore unlikely to be comparable to similar measures presented by other issuers. Management uses these measures internally to evaluate the underlying

operating performance of Trevali for the relevant reporting periods. The use of these measures enables management to assess performance trends and to

evaluate the results of the underlying business of Trevali. Management understands that certain investors, and others who follow Trevali’s performance, also

assess performance in this way. Management believes that these measures reflect Trevali’s performance and are better indications of its expected performance

in future periods. This data is intended o provide additional information and should not be considered in isolation or as a substitute for measures of performance

prepared in accordance with IFRS.

The information presented herein was approved by management of Trevali on August 8, 2018.


Zinc: Demand and Supply – Continued Strong Fundamentals

Forecast ~2% per year through 2022

Global Zinc Demand Increase

Driven by GDP growth, urbanization & infrastructure

development, and as a “mid-cycle” commodity with

expanding markets for consumer goods.

Zinc Supply Remains Constrained• Mine (and refined) supply remains in deficit

• Refined metal stocks continue to fall – Spot TCs

largely flat – in favour of the miners.

• Industry and media discussion on increasing

payabilities in 2019.

• Suggestive of strengthening price environment.

Approx. 280,000 tonnes/year

Strong zinc pricesDisconnect between current pricing

environment & supply

Forecast of continued strong zinc

prices in reaction to ongoing near-

term supply deficits

US$1.35/lbUS$2,967/tonne2018

US$1.80/lbUS$3,975/tonne2019

US$1.22/lbUS$2,700/tonneLONG-TERM

Wood Mackenzie zinc price forecasts:

4

Source: Wood Mackenzie research

US$1.63/lbUS$3,600/tonne2020

Cash to three months backwardation


Trevali – Q2 2018 Highlights

(1) EBITDA (earnings before interest, taxes, depreciation and amortization) is calculated by considering Company's earnings before interest payments, tax, depreciation

and amortization are subtracted for any final accounting of its income and expenses. The EBITDA of a business gives an indication of its current operational profitability

and is a non-IFRS measure and is calculated on 100% basis. Please refer to non-IFRS Measures in the Cautionary Note Regarding Forward-Looking Statement.

Robust Cash-Flow

Generation

Quarterly EBIDTA(1) of

$59 million

Net Profit of $23.5 million

in Q2 (3 cents earnings

per share)

Operating cash flow of

$134 million

On-track with 2018 cost

guidance

Q2 consolidated

production of 104-million

payable lbs Zn, 10.5-

million payable lbs Pb and

337,801 payable ozs Ag

On-track with 2018

production guidance

Strong Production

Profile

Bolstered Balance

Sheet

Q2 working capital of

$160 million

$104 million total cash

position

Debt reduction of $16

million YTD

Disciplined capital

deployment:

Rosh Pinah; Bathurst

Mining Camp; Perkoa;

Exploration initiatives

Optimization Initiatives

Santander mill upgrades

completed; increased

throughput

Perkoa generator

efficiency program

installation underway

Finalizing Rosh Pinah

independent engineering

study examining

production optionality

5


Trevali – Q2 2018 Consolidated Results

6

Summary Financial Results (US$ millions, except per-share amounts)

Consolidated Production Results

Consolidated Sales Results

Three months ended Six months ended June 30

Q1-2018 Q2-2018 Q2-2017 2018 2017

Revenues $114.7 $133.9 $37.4 $248.6 $77.4

Income from mining operations $36.6 $46.1 $10.1 $82.7 $19.8

Net income $28.6 $23.5 $0.1 $52.0 $2.8

Basic income per share $0.03 $0.03 $0.00 $0.06 $0.01


Q1-2018 Q2-2018 Q2-2017(1) 2018 2017(1)

Tonnes Mined 790,215 807,166 371,802 1,597,381 742,755

Tonnes Milled 743,935 820,214 431,093 1,564,149 864,222

Payable Production:

Zinc (pounds)

Zinc (tonnes)

Lead (pounds)

Lead (tonnes)

Silver (ounces)

98,738,944

44,800

12,296,555

5,579

336,606

103,891,609

47,138

10,531,420

4,778

337,801

29,949,148

13,589

9,912,095

4,497

385,505

202,630,552

91,938

22,827,974

10,358

674,407

61,895,376

28,083

19,895,758

9,027

731,167

Total Cash Operating Costs (per pound of payable zinc produced) $0.83 $0.68 $0.55 $0.74 $0.69

All-In Sustaining Cash Cost (per pound of payable zinc produced) $0.97 $0.85 $0.80 $0.88 $0.86

Site Cash Operating Cost (per Tonne milled) (2) $73 $58 $50 $65 $49


Q1-2018 Q2-2018 Q2-2017(1) 2018 2017(1)

Zinc Concentrate (dry metric tonnes) 98,171 124,418 31,596 222,589 70,523

Lead Concentrate (dry metric tonnes) 10,169 16,199 11,948 26,367 24,981

Payable Sales:

Zinc (pounds)

Zinc (tonnes)

Lead (pounds)

Lead (tonnes)

Silver (ounces)

89,490,812

7,956,056

274,748

114,220,221

13,160,877

376,455

27,644,763

9,828,395

379,577

203,711,033

21,116,933

651,203

61,223,004

19,536,784

708,213

Revenues (3) $114.7 million $133.9 million $37.4 million $248.6 million $77.4 million

Zinc realized price per payable pound sold, before pricing

adjustments ($/lb)

Provisional and final invoicing and quantity adjustments per

payable pound sold ($/lb)

Zinc realized price per payable pound sold ($/lb)

LME average zinc price ($/lb)

$1.49

($0.04)

$1.45

$1.55

$1.42

($0.15)

$1.27

$1.41

$1.20

($0.07)

$1.13

$1.18

$1.45

($0.10)

$1.35

$1.48

$1.24

($0.02)

$1.22

$1.22(1) Q2-2017 and six months June 30, 2017 consolidated production and sales are from the Santander and Caribou mines only. Trevali acquired the Perkoa and

Rosh Pinah mines on August 31, 2017.

(2) Please refer to non-IFRS Measures in the Cautionary Note Regarding Forward-Looking Statements at the end of this news release and in Trevali’s June 30,

2018 Management’s Discussion and Analysis.

(3) Revenues include effects of settlement adjustments on sales from prior quarters and is calculated on a 100% basis.


Location Burkina Faso (150 km west of Ouagadougou)

Ownership 90% Trevali, 10% Government of Burkina Faso

Type of deposit Volcanogenic Massive Sulphide (VMS)

Mining Underground - Transversal and retreat

ProcessingConcentrator plant with crushing, milling,

flotation, thickening and filtration

End product Zn concentrate

Infrastructure2,000 tpd underground mining operation and

processing mill

Current mine life 5 years; remains open, drilling ongoing

Perkoa MineBurkina Faso

Perkoa Mine

Primary metal

7TSX: TV | www.trevali.com


(1) Site operating cost per tonne milled is a non-IFRS measures. See “Non-IFRS Measures”

(2) Revenues include effects of settlement adjustments on sales from prior quarters and is calculated

on a 100% basis.

Perkoa Mine – Q2 2018 Operational Review

8

Q2-2018

Tonnes Mined 182,551

Tonnes Milled 176,027

Average Head Grades:

Zinc (%) 15.2

Average Recoveries (%):

Zinc 93

Concentrate Produced DMT (dry metric tonnes):

Zinc 49,696

Concentrate Grades:

Zinc (%) 50

Payable Production:

Zinc (pounds) 46,151,647

Total Cash Operating Costs per Pound of Payable Zinc Produced $0.74

All-In Sustaining Cash Cost Cash per Pound of Payable Zinc Produced $0.83

Site Cash Operating Cost per Tonne Milled(1) $87

Perkoa Mine Production Results (100% basis)

Q1-2018

Zinc Concentrate (dry metric tonnes) 61,492

Payable Zinc (pounds) 58,819,244

Revenues(2) $62.0 million

Perkoa Mine Sales Results (100% basis)

➢ Q2 production of 46.2-million lbs Zn

➢ Annual zinc production guidance increased to

164-174 million payable pounds

➢ Sector-leading head grades (15.2% Zn) and

recoveries (93%)

➢ Q2 total site cash operating costs decreased to

$87/tonne - below guidance

➢ Heavy Fuel Oil Generators installation

underway – USD$6 million invested during Q2.

Expect to decrease operating costs by $6-$7

per tonne


Location Namibia (600 km south of Windhoek)

Ownership 90% Trevali, 10% Namibian Empowerment Partners

Type of deposit Sediment hosted

Mining Underground – Sub-level open stoping

ProcessingConcentrator plant with crushing, milling, flotation,

thickening and filtration

End product Zn concentrate and Pb-Ag concentrate

Infrastructure2,000 tpd underground mining operation and processing

mill


Rosh Pinah MineNamibia

9

Rosh Pinah Mine

AFRICA

NAMIBIA


Primary metal By-product metals


Rosh Pinah Mine – Q2 2018 Operational Review

10

(1) Site operating cost per tonne milled is a non-IFRS measure. See “Non-IFRS Measures”

(2) Revenues include effects of settlement adjustments on sales from prior quarters and is calculated

on a 100% basis.

➢ Q2 production of 20.8 million payable lbs Zn, 2.1

million payable lbs Pb and 28,388 payable ozs

Ag

➢ Metal production to increase in second half of

2018 as mine sequencing moves into higher-

grade stopes

➢ Annual zinc production guidance decreased to

95-105 million payable pounds

➢ Operating costs within guidance

➢ Training and operational support initiatives

underway

➢ RP3000 study remains on track for later in the

month

Q2-2018



Average Head Grade:

Zinc (%)

Lead (%)

Silver (oz/t)

7.69

1.07

0.29


Zinc

Lead

Silver

86

58

60

Payable Production:


Lead (pounds) 2,146,675

Silver (ounces) 28,388

Total Cash Operating Costs (per pound of payable zinc produced) $0.47

All-In Sustaining Cash Cost Cash (per pound of payable zinc produced) $0.69

Site Cash Operating Cost (per Tonne milled)(1) $47

Rosh Pinah Mine Production Results (100% basis)

Q2-2018


Lead Concentrate (dry metric tonnes) 5,388

Payable Sales:





Rosh Pinah Mine Sales Results (100% basis)


Location Bathurst Mining Camp, New Brunswick, Canada

Ownership 100% Trevali

Type of deposit Volcanogenic Massive Sulphide (VMS)

Mining Underground - Modified Avoca (cut-and-fill)




Infrastructure3,000 tpd underground mining operation and

processing mill


Bathurst Mining Camp OperationsNew Brunswick, Canada

CANADA

NEW BRUNSWICK

Primary metal


Caribou Mine

By-product metals


Caribou Mine – Q2 2018 Operational Review

(1) Site operating cost per tonne milled is a non-IFRS measures. See “Non-IFRS Measures”

(2) Revenues include effects of settlement adjustments on sales from prior quarters.

12

Q2-2018



Average Head Grades:

Zinc (%) 5.92

Lead (%) 2.16

Silver (oz/t) 1.96


Zinc 76

Lead 60

Silver 35

Payable Production:




Total Cash Operating Costs (per pound of payable zinc produced) $0.64

All-In Sustaining Cash Cost (per pound of payable zinc produced) $0.81

Site Cash Operating Cost (per Tonne Milled)(1) $60

➢ Q2 production 20.5 million payable lbs Zn,

6.5 million payable lbs Pb and 178,753

payable ozs Ag

➢ Zn recoveries incrementally improved during

second half of the quarter as the winter

seasonality effect waned – presently in the

80% range

➢ Operating costs within guidance

➢ Ongoing Mill optimization in progress and

anticipated to result in additional

performance improvements

Q2-2018



Payable Sales:





Caribou Mine Production Results

Caribou Mine Sales Results


Location Peru (approx. 200 km northeast of Lima)

Ownership 100% Trevali

Type of deposit Carbonate Replacement Deposit (CRD)

Mining Underground - Modified Avoca (cut-and-fill)




Infrastructure2,000 tpd underground mining operation and processing

mill


Santander MinePeru


Primary metal By-product metals


Santander Mine – Q2 2018 Operational Review

14

(1) Site operating cost per tonne milled is a non-IFRS measure. See “Non-IFRS Measures”

(2) Revenues include effects of settlement adjustments on sales from prior quarters.

➢ Q2 production 16.4 million payable lbs Zn, 1.9

million payable lbs Pb and 130,659 payable ozs

Ag

➢ Mill throughput (a quarterly record) and metal

production materially increased following Q1 ball

mill maintenance

➢ Operating costs trending downwards – within

guidance

➢ Annual zinc production guidance increased to 55-

58 million payable pounds

Q2-2018



Average Head Grade:

Zinc (%)

Lead (%)

Silver (oz/t)

4.47

0.52

0.91


Zinc

Lead

Silver

89

79

61

Payable Production:




Total Cash Operating Costs (per pound of payable

zinc produced)$0.64

All-In Sustaining Cash Cost (per pound of payable

zinc produced)$0.90

Site Cash Operating Cost (per Tonne milled)(1) $40

Santander Mine Production Results

Q2-2018



Payable Sales:





Santander Mine Sales Results


(1) Constitutes forward-looking information; see “Cautionary Note Regarding Forward-Looking Statements”. Trevali’s interest is 90% of Perkoa and 90% of Rosh Pinah.

(2) Operating costs are based on various assumptions and estimates, including, but not limited to: production volumes, commodity prices (Zn: $1.25/lb Pb: $1.00/lb Ag: $19/lb) and foreign

currency exchange rates (N$/USD: 13.00; XOF/USD: 609; PEN/USD 3.25; C$/USD $1.25) and is a non-IFRS measure. See “Non-IFRS Measures”

2018 Production Guidance(1)

15

Mine2018 Zinc Production

(million pounds payable)

2018 Lead Production

(million pounds payable)

2018 Silver Production

(000 ounces payable)

Operating Costs

(per tonne milled) (2)

Perkoa (100%) 164-174 n/a n/a $103-$113

Rosh Pinah (100%) 95-105 5.7-6.0 123-129 $49-$54

Caribou 86-90 27.1-28.4 627-658 $55-$61

Santander 55-58 11.0-11.6 654-687 $38-$42

Total 400-427 43.8-46.0 1,400-1,474 $60-$66

2018 Quarterly zinc production guidance (mid-range) versus actual Q1 and Q2 zinc production.


Rosh Pinah

Deposit

Bathurst Mining

Camp

Santander CRD System

Perkoa

VMS Belt

Trevali Exploration (a NAV Generator)

16

➢Proven exploration team – lower quartile discovery costs

providing strong leverage for generating shareholder value.

➢All deposits remain open for expansion – drives increased

Life Of Mines (LOM) - ~60,000m committed brown-field

(low risk) drill campaign in progress in 2018.

Successful exploration

& discovery:

Tier 1 Zn deposit

(tonnage/grade) in an

underexplored major Zn

district.

Low risk, high reward

exploration.

Discoveries to drive

production gains

Control 6 deposits in one

of the world’s larger VMS

Districts.

Supporting Advanced

Project team

Unlocking the project

pipeline to provide approx.

20 years of mill feed.

Analogous to large

Peruvian polymetallic

systems (Antamina) –

upper quartile tonnage

and grades increasing –

remains under-explored.

Unlocking potential of the

system – seeking high

grade tonnes

First mover in an high-

grade, frontier VMS belt.

Perkoa is one of the

highest-grade Zn mine

globally.

Excellent potential for

further discoveries –

positive proof of concept in

Q2

➢ Aim is to expand and discover new mineral resources adjacent to existing mine infrastructure, replace

mined inventory, grow sustainable production, extend expected mine life and ultimately, contingent on

success, provide production growth optionality to the operations.

➢ Exploration and resource conversion drilling at Trevali’s four mines totaled approximately 26,500 metres

during Q-2018.


Perkoa Exploration Q2-2018

Area Worked

520 LevelLowest Level in Mine Plan

PUX002 18.95m at 12.21% Zn incl. 5.4m at 19.03% Zn

PU390 10.25m at 18.73% Zn incl. 5.0m at 30.0% Zn

PU394 19.55m at 16.48% Zn incl. 9.1m at 23.10% Zn

PUX001 10.25m at 15.07% Znincl. 6.2m at 19.06% ZnPUX006a 9.35m at 26.6% Zn, incl2.55m at 39.3% & 3.3m at 31.8% Zn

Hangingwall Lens Long Section

Perkoa

Plan Map of showing areas worked during Q2.

Value Add:

Original 2018 Target: >1Mt at ROM grade.

• 2,900m UG Resource Expansion Drilling Program.

• New high grade resources defined, mineralization extended 240m

below lowest level in mine plan.

• Deepest hole has intersected high grade mineralization

PUX006a: 9.35m at 26.6% Zn - open at depth.

• Mobilizing in a 2nd rig discovery drilling to continue during H2

Revised 2018 target: >2Mt of inferred at ROM.

Value Recognition and Creation:

• Initial test of AF1 target, intersected first massive sulphide in the

belt outside of Perkoa – Positive Proof of Concept

• Sampling under transported cover -10,400m of air core drilling

testing 5 regional EM targets along the Mine Horizon;

• Mapping and surface sampling generating new high priority

supplemented by geophysics

Exploration unlocking a frontier VMS camp around

Perkoa Mine.


Santander Exploration Q2-2018

Value Add:• Magistral – sustainable exploration – replace mined inventory

and add new tonnes.

• Pipe – drilling ongoing.

o Multiple high grade lenses intersected – aim is to

discover approx. 3-4Mt “high” grade polymetallic

mineralization

o Significant BHEM anomaly correlating to magnetite-rich

skarn at contact between Limestone and Sandstone.


• Testing of drill ready targets.

• Mapping and geochemical sampling of known mineral

fairways / fluid pathways to vector in to blind targets

• Geophysics to generating new targets and extensions around

the known mineralisation.

HG Pipe Section looking North

High conductance plate 400m x 400m

Potential for +4 Mt of HG ore

HG Pipe plan view

moly – quartz stockwork


Bathurst Mining Camp Exploration Q2-2018

Murray Brook Metallurgical Drilling

Value Add:

• Restigouche resource definition drill program completed

• Results confirm historic data

• Modeling complete, all assay data returned and

under final review & mine planning

• Caribou 10,000 m underground exploration drill program

in progress

• Goals: +2Mt INF at ROM grades

Restigouche 2018 Definition Drill Program


• Exploration Alliance work on Murray Brook ML and Murray Brook East

began in June.

• Murray Brook metallurgical and geotechnical drilling complete. Test

work in progress.

• Facilitate BMC Life Of Mill studies – proven VMS camp philosophy

RST18-02015.64 m @ 8.01% Zn6.43% Pb, 0.27% Cu, 44.19 g/t Ag, 0.53 g/t Au



RST18-02846.70 m @ 6.53% Zn,5.20% Pb, 0.29% Cu, 65.64 g/t Ag, 0.94 g/t Au


20

Value Add - WF3 Resource Extension Drilling:

• Continue to expand WF3 zone - high-grade

mineralisation intersected during down depth extension

drilling - assays are pending

Rosh Pinah Exploration Q2-2018


• Reinterpretation of RPZC data is in progress – a

number of untested targets generated in the Eastern

Orefield – 10,000m drill program planned for H2

• Regional targeting generated seven high priority

targets for follow up

• Dedicated exploration team hired


Trevali Mining CorporationSuite 1400-1199 West Hastings Street

Vancouver, BC, V6E 3T5, CANADA

Tel: 1-604-488-1661

Fax: 1-604-629-1425

www.trevali.com

A member of the

Steve StakiwVice President, Investor Relations and

Corporate Communications

[email protected]

Direct phone:1-604-638-5623

Q2-2018 Results Presentation · 2018. 8. 10. · Trevali –Q2 2018 Consolidated Results 6 Summary Financial Results (US$ millions, except per-share amounts) Consolidated Production

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