Mineral Reserves and Resources

Total Proven & Probable Mineral Reserves as at December 31, 2019^(1,2)

		Tonnage	Grade			Metal
Mine	Category	Quantity Mt	Zn %	Pb %	Ag g/t	Zn M lbs	Pb M lbs	Ag K oz
Perkoa Mine	Proven & Probable	2.06	12.80	-	-	581	-	-
Rosh Pinah Mine	Proven & Probable	9.79	6.45	1.34	20.68	1,392	289	6,509
Caribou Mine	Proven & Probable	2.66	6.61	2.52	75.04	388	148	6,417
Santander Mine	Proven & Probable	1.86	4.86	0.39	24.92	199	16	1,487
Total	Proven & Probable	16.37	7.10	1.26	27.39	2,560	453	14,413

(1) For additional detail respecting the Mineral Reserve contained zinc, lead and silver grades, see "Detailed Mineral Reserve and Mineral Resource Disclosure" and "Additional Information" within this news release.
(2) The M lbs (million pounds) and K oz (thousand ounces) contained metals is the total Proven + Probable Mineral Reserve estimation of all the mines on a 100% basis. Trevali’s ownership interest is 90% of Perkoa and 90% of Rosh Pinah.

Total Measured & Indicated Mineral Resources as at December 31, 2019^(1,2,3)

		Tonnage	Grade			Metal
Project	Category	Quantity Mt	Zn %	Pb %	Ag g/t	Zn M lbs	Pb M lbs	Ag K oz
Perkoa Mine	Measured & Indicated	4.40	12.64	-	-	1,223	-	-
Rosh Pinah Mine	Measured & Indicated	16.11	7.33	1.70	23.48	2,603	604	12,159
Caribou Mine	Measured & Indicated	10.46	6.50	2.47	73.11	1,499	570	24,585
Santander Mine	Measured & Indicated	3.58	4.89	0.55	29.76	386	43	3,425
Santander Pipe Project	Measured & Indicated	3.77	6.67	0.01	12.08	555	1	1,465
Restigouche Project	Measured & Indicated	1.08	5.00	3.30	46.30	119	79	1,613
Halfmile Project	Measured & Indicated	7.80	6.94	2.35	36.00	1,199	407	8,980
Stratmat Project	Indicated	4.70	5.30	2.10	49.00	550	214	7,300
Total	Measured & Indicated	51.90	7.11	1.68	35.67	8,134	1,918	59,528

(1) For additional detail respecting the Mineral Resources contained zinc, lead and silver grades, see "Detailed Mineral Reserve and Mineral Resource Disclosure" and "Additional Information" within this news release.
(2) All Mineral Resources referred to in this news release are inclusive of stated Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(3) The M lbs (million pounds) and K oz (thousand ounces) contained metals is the total Measured + Indicated Mineral Resource estimation of all mines and projects on a 100% basis. Trevali’s ownership interest is 90% of Perkoa and 90% of Rosh Pinah

Total Inferred Mineral Resources as of December 31, 2019^(1,2,3)

		Tonnage	Grade			Metal
Project	Category	Quantity Mt	Zn %	Pb %	Ag g/t	Zn M lbs	Pb M lbs	Ag K oz
Perkoa Mine	Inferred	0.81	8.71	-	-	155	-	-
Rosh Pinah Mine	Inferred	5.54	6.16	1.09	24.05	752	133	4,281
Caribou Mine	Inferred	5.31	6.11	2.48	74.64	715	290	12,743
Santander Mine	Inferred	1.07	3.93	0.24	24.97	93	6	861
Santander Pipe Project	Inferred	1.31	5.37	0.02	7.42	156	1	313
Restigouche Project	Inferred	0.58	6.10	4.30	67.83	77	55	1,256
Halfmile Project	Inferred	6.50	5.62	1.51	23.00	806	216	4,720
Stratmat Project	Inferred	2.40	4.80	2.10	39.00	252	110	3,000
Total	Inferred	23.52	5.80	1.56	35.94	3,006	811	27,174

(1) For additional detail respecting the Mineral Resources contained zinc, lead and silver grades, see "Detailed Mineral Reserve and Mineral Resource Disclosure" and "Additional Information" within this news release.
(2) All Mineral Resources referred to in this news release are inclusive of stated Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(3) The M lbs (million pounds) and K oz (thousand ounces) contained metals is the total Inferred Mineral Resource estimation of all mines and projects on a 100% basis. Trevali’s ownership interest is 90% of Perkoa and 90% of Rosh Pinah.