TORONTO, Dec. 4, 2013 /PRNewswire/ -- Trio
Resources, Inc. ("Trio" or the "Company") (OTCBB: TRII;
www.trioresources.com) is pleased to announce that it has signed an
Off-Take agreement with Noble Refinery ("Noble") of Switzerland to process precious metals
produced at the Company's milling facility in Cobalt, Ontario. The Company anticipates it
will produce $40 million of precious
metals over the two year contract.
Under the agreement, Noble will purchase dore bars from Trio and
ship them to one of its three global refineries for further
purification. Pricing for the bars will be based on London Metal
Exchange spot prices with a predetermined 10% discount. Noble will
be obligated to pay Trio within three days of material assay
confirmation.
"We are incredibly excited to partner with Noble, which has a
sterling track record of refining assets for its global client
base," said Duncan Reid, CEO of Trio
Resources, Inc. "By aligning ourselves with an experienced refiner
like Noble, Trio can ensure that we fully monetize the precious
metals we expect to produce from the milling facility on our
Duncan-Kerr Property."
About Trio Resources, Inc.
Trio Resources, Inc. is an
exploration and small-scale processing company which plans to focus
on the exploration and milling of mineralized materials located in
historically prolific regions. Trio is organized to hold assets in
the mining industry, targeting older mining camps with residual
value. Trio's intention is to conduct an exploration program, in
conjunction with milling initiatives to monetize its existing
above-ground mineralized material on-site, with the purpose of
being cash-flow positive primarily through milling and marketing
mineralized material and concentrate to refiners. For more
information, please visit http://www.trioresources.com/.
Cautionary Note Regarding Forward-Looking
Statements:
This Press Release contains forward-looking
statements. Such statements may include, but are not limited to,
information related to: our plans and objectives; anticipated
operations and operating results; potential exploration and
exploration results; relationships with refiners, purchasers and
off-takers; demand for mineralized materials; financial resources
and condition; anticipated sales, revenues and profitability;
build-out of our mill and milling capacity; changes in accounting
treatment; cost of sales; selling, general and administrative
expenses; interest expense; the ability to produce the liquidity or
enter into agreements to acquire the capital necessary to continue
our operations and take advantage of opportunities; legal
proceedings and claims. These statements involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements to be materially different
from any future results, performances or achievements expressed or
implied by the forward-looking statements. In some cases, you can
identify forward-looking statements by terms such as "plans,"
"intends," "anticipates," "believes," "seeks," "could,"
"estimates," "expects," "intends," "may," "potential," "predicts,"
"projects," "should," "would" and similar expressions intended to
identify forward-looking statements. Forward-looking statements
reflect our current views with respect to future events and are
based on assumptions and subject to risks and uncertainties. These
risks and uncertainties include, but are not limited to, the
factors described in our Report on Form 8-K/A filed with the SEC on
March 15, 2013, including the section
captioned "Risk Factors" therein. Given these uncertainties, you
should not place undue reliance on these forward-looking
statements. The forward-looking statements set forth herein reflect
our estimates and assumptions only as of the date of this press
release and are subject to change after such date. Except as
required by law, we assume no obligation to update any
forward-looking statements publicly, or to update the reasons
actual results could differ materially from those anticipated in
any forward-looking statements, even if new information becomes
available in the future. The forward-looking statements contained
in this press release are expressly qualified by this cautionary
statement.
Contact Information
Trio Resources, Inc.
Toll-Free: 855.321.TRIO (8746)
Fax: 855.321.4335
www.trioresources.com
Investor Contacts
KCSA Strategic Communications
+1 212.896.1215 / +1 212.896.1233
tfromer@kcsa.com / pcarlson@kcsa.com
Todd Fromer / Philip Carlson
SOURCE Trio Resources, Inc.