Trevali Announces $10.4 Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2011) - Trevali Mining Corporation (TSX:TV)(OTCQX:TREVF)(BVLAC:TV)(FRANKFURT:4TI) -

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Trevali Mining Corporation ("Trevali" or the "Company") announces that it completed a private placement of 7,873,059 common shares. Kallpa Securities SAB of Lima, Peru ("Kallpa") acted as agent in the offering of Trevali's shares to qualified South American investors on a commercially reasonable best-efforts basis.

The private placement was completed for gross proceeds of USD$10,392,437.88 at an issue price of USD$1.32 (CAN$1.30) per share. The issue price was determined by Trevali and Kallpa in the context of the market.

A cash commission of 7% of the gross proceeds of the private placement was paid by the Company to Kallpa as consideration for arranging the private placement. Completion of the private placement is subject to customary conditions including, but not limited to, the approval of the Toronto Stock Exchange.

The securities issued pursuant to the private placement are subject to a statutory hold period of four months and a day expiring on December 25, 2011.

The net proceeds from the private placement are intended to be used to advance the Company's Santander mine development project and for general working capital purposes.

The Company and Kallpa are currently working towards increasing the private placement up to USD$15,000,000 through the issuance of up to an additional 3,490,577 shares to qualified South American investors. The closing of this additional amount of Trevali's common shares is slated for the last week of August 2011.

Trevali Amends Annual Information Form

Trevali also announces that it has filed an Amended and Restated Annual Information Form ("A&R AIF") for the year ended December 31, 2010 on SEDAR. The A&R AIF is being filed to update Trevali's previously filed amended annual information form, particularly to include disclosure with respect to the plan of arrangement Trevali completed with Kria Resources Ltd. ("Kria") on April 7, 2011 (the "Kria Acquisition"). The A&R AIF can be found on Trevali's profile at www.sedar.com.

In conjunction with the filing of the A&R AIF, Trevali has also filed three technical reports and a preliminary economic assessment (the "Reports") previously filed by Kria on SEDAR. The Reports relate to the Stratmat, Halfmile and Ruttan properties acquired by Trevali pursuant to the Kria Acquisition. The Reports have been updated to be addressed to Trevali and are materially the same as the reports prepared for Kria and filed by Kria on SEDAR under its profile at www.sedar.com.

ABOUT TREVALI MINING CORPORATION

Trevali is advancing two polymetallic (zinc-lead-silver-copper) deposits to production in Canada and Peru – the Halfmile and Santander projects respectively. In Canada, Trevali has the Halfmile and Stratmat polymetallic deposits near Bathurst, New Brunswick, and the Ruttan copper-zinc deposit in northern Manitoba. Mine development is underway at Halfmile with a proposed production rate of 2,000-tonnes-per-day anticipated to commence in late 2011. In Peru, the Company has the Santander zinc-lead-silver mine project and the formerly-producing Huampar silver mine, both located in the Central Peruvian Polymetallic Belt.

At Santander, in conjunction with Glencore International A.G., mine commissioning is anticipated to commence at 2,000-tonne-per-day in early 2012 with full production to follow immediately thereafter. Additionally through its subsidiary Trevali Renewable Energy Inc., Trevali is undertaking a significant upgrade of its wholly-owned Tingo run-of-river hydroelectric generating facility along with transmission line upgrades and extensions to allow, in addition to supplying power to the mining operation on the property, the potential sale of surplus power into the Peruvian National Energy Grid.

The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Frankfurt Stock Exchange (symbol 4TI) and on the Lima Stock Exchange (symbol TV). For further details on Trevali, readers are referred to the Company's web site (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of TREVALI MINING CORPORATION

Mark D. Cruise, President

Cautionary Statement Regarding Forward-Looking Statements

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws, including the expected amount of the total private placement including the additional closing, the amount of proceeds available to the Company on account of the private placement including the additional closing, the timing of the additional closing and the development of the Santander project. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.