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At Trevali, we are asking ourselves some big questions about what it means to be a global mining company in today’s world.

We know that modern society needs mineral resources and the products that mining helps create.

As times change, society’s expectations of us change too.

Expectations about environmental responsibility.

Around what it means to be a good corporate citizen.

About being a company that is sustainable for the long-term.

And one that benefits its employees, its communities and its shareholders.

At Trevali, we are excited by these evolving expectations. They inspire innovative ideas and create new opportunities for us to enhance how our business operates.

Motivated by the potential that these questions present, we are focused on constant, incremental improvements in our business. Bringing creativity, agility and innovation into the very heart of the company. Operating efficiently and with the highest of safety standards. We are working to make ongoing improvements that contribute to achieving larger long-term goals.

By asking, and answering, these questions, we will create a different kind of mining company, and a new Trevali.

We embark on this journey with the key ingredients for success: strong assets, potential for resource expansion, a great balance sheet, and an engaged team of professionals.

As a reflection of our new vision, we are also launching a new corporate identity.

We are just getting started. Watch this space.

Trevali – the Future of Mining

Signature

Ricus Grimbeek
President & Chief Executive Officer

Rosh Pinah Mine

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Location

Namibia

Ownership

90%

Mine Type

Underground Mine

Resource

Zinc-lead-silver

Operations

  • 2,000-tonne-per-day processing mill
  • Flotation recovery plant
  • Metallurgical and geochemical laboratories
  • Tailings facility
Rosh Pinah Mine Rosh Pinah Mine Rosh Pinah Mine Rosh Pinah Mine
rosh_pinah

Rosh Pinah Mine

The Rosh Pinah underground zinc-lead mine and 2,000 tonne per day milling operation is located in southwestern Namibia, approximately 800 km south of Windhoek and 20 km north of the Orange River, at the edge of the Namib Desert. The Rosh Pinah mine has been in continuous operation since 1969 and currently produces zinc and lead sulphide concentrates containing minor amounts of copper, silver, and gold. The zinc and lead concentrates are transported by road to Luderitz, a port on the Namibian Coast, and then shipped to the international spot markets.

The Rosh Pinah mine is 90% owned by Trevali and 10% by Namibian Broad-Based Empowerment Groupings and an Employee Empowerment Participation Scheme (EEPS).

Geology and Mineralization

The Rosh Pinah Mine is hosted by the Rosh Pinah Formation (Hilda Subgroup of the Port Nolloth Group), forming part of the Neoproterozoic Gariep Terrane deposited onto a Palaeo-Mesoproterozoic basement of granite gneisses and supracrustals.

The base metal sulphides at the Rosh Pinah mine are contained within the approximately 30-metre thick ore equivalent horizon (OEH). In the Rosh Pinah area, the Rosh Pinah Formation has been shown to be at least 1,250 metres thick.

The primary mineralization type of economic interest at the Rosh Pinah Mine is a silicified, grey to dark grey, fine-grained and laminated unit locally called microquartzite mineralization. It consists of alternating millimetre to centimetre wide bands of sulphide exhalites (sphalerite, pyrite and galena + minor chalcopyrite), part of which was carbonatized with associated remobilization and enrichment of sulphides, and is believed to represent a classic reworked sedimentary-exhalative (SEDEX) style exhalite. The secondary argillite carbonate mineralization carries the higher, economic, base metal values. The argillite mineralization would be similarly derived, but diluted with background benthonic argillite.

Mineral Reserve and Mineral Resource Estimates

Rosh Pinah Mineral Reserves as at December 31, 2018(1, 2)


Tonnage Grade Metal
Category Quantity Mt Zn % Pb % Ag g/t Zn M lbs Pb M lbs Ag K oz
Rosh Pinah Mine (3)
Proven 3.90 7.12 1.59 20.49 612 137 2,568
Probable 4.59 6.40 1.46 23.11 648 148 3,409
Proven & Probable 8.49 6.73 1.52 21.90 1,260 285 5,978

(1) All Mineral Reserves have been estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) — Definition Standards adopted by CIM Council on May 10, 2014 (the “CIM Definition Standards”). Numbers may not add due to rounding. The Mineral Reserve is shown at 100% ownership, Trevali holds a 90% joint venture interest in the Rosh Pinah Mine.
(2) The technical report entitled “Technical Report on the Rosh Pinah Mine, Namibia” dated May 1, 2018, is the current technical report for the Rosh Pinah property.
(3) The Rosh Pinah Underground Mine Mineral Reserve estimate is reported based on planned stopes with a net smelter return cut-off grade of US$60/tonne, with metal prices of: US$1.13/lb zinc. The Rosh Pinah Underground Mine Mineral Reserve estimate has been prepared by non-independent Mine engineering consultants to the company with an effective date of December 31, 2018, under the supervision of and approved by Professional Engineer Barbara Rose (P.Eng.), a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Ms. Rose is Principal Mine Engineer of the Company and accordingly, is not independent.

Rosh Pinah Mineral Resources as at December 31, 2018(1, 2)


Tonnage Grade Metal
Category Quantity Mt Zn % Pb % Ag g/t Zn M lbs Pb M lbs Ag K oz
Rosh Pinah Mine (3)
Measured 5.49 8.33 1.93 27.14 1,009 234 4,792
Indicated 5.83 7.30 1.59 25.18 938 204 4,716
Measured & Indicated 11.32 7.82 1.76 26.13 1,950 439 9,509
Inferred 5.56 7.11 1.13 24.93 872 139 4,457

(1) All Mineral Resources have been estimated in accordance with the CIM Definition Standards. Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Numbers may not add up due to rounding. The Mineral Resource is shown at 100% ownership, Trevali holds a 90% joint venture interest in the Rosh Pinah Mine.
(2) The technical report entitled “Technical Report on the Rosh Pinah Mine, Namibia” dated May 1, 2018, is the current technical report for the Rosh Pinah property.
(3) The Rosh Pinah Underground Mine Mineral Resource estimate is reported based on zinc equivalent cut off grade of 5% ZnEQ with metal prices of: US$1.13/lb zinc, US$0.95/lb lead, US$14.50/oz silver. The Rosh Pinah Underground Mine Mineral Resource estimate has been prepared by the mine geology department and non-independent Resource geology consultants to the company with an effective date of December 31, 2018, under the supervision of and approved by Yan Bourassa (P.Geo.), a Qualified Person as defined in NI 43-101. Mr. Bourassa is Vice President Mineral Resources Management of the Company and accordingly, is not independent.

2018 Production Guidance


2018 Zinc Production (payable) 2018 Lead Production (payable) 2018 Silver Production (payable) Annual Site Operating Cost Guidance
(per tonne)
Rosh Pinah 95-105 million lbs
(43,100 – 47,640 tonnes)
5.7-6.0 million lbs
(2,600 – 2,700 tonnes)
123-129 k ozs $49-$54

Production guidance presented on a 100% basis, Trevali owns 90% of Rosh Pinah. Constitutes forward-looking information; see “ Cautionary Note Regarding Forward-Looking Statements”.