TriMetals Mining Inc. Update and Letter From the CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 24, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF)

To The Shareholders and New Investors:

In March I spoke about the stabilizing market for our industry and in the first quarter share prices in the sector moved positively on good exploration and development results, whereas in 2013 much good news was disregarded. April has been more turbulent and the Company's common shares have received a battering. As an investor myself and a very large holder of TriMetals Mining shares, I see this as a real opportunity to invest, which incidentally I have been doing, and I now own over 4 million common shares and over 3 million Class B shares. Sophisticated investors should take note that the Company has made major advances in the last year and is now well positioned to create shareholder value. This is a Gold Stock that I believe could have a very good year building on the already announced expanded gold resource at Gold Springs in mining friendly Nevada/Utah and the upcoming release of the first Preliminary Economic Assessment ("PEA") at Gold Springs at the end of April. The Company has so far only drilled portions of two of 18 areas of outcropping gold mineralization and none of the buried geophysical targets at Gold Springs. Additional shareholder value can be created at the very large Escalones copper-gold project in Chile and through pursuing compensation for the loss of Malku Khota through international arbitration, both as more fully discussed below.

A positive PEA at Gold Springs will start to move the Company and its common shares from a pure exploration play to a Company with a defined asset ready to move along the engineering and development curve. In my view this, together with our clear opportunity to further expand the resource and the fact that we have the funding in place to continue resource expansion drilling, is the basis for my thesis that the Company's common shares represent an important Gold Stock to consider for investment. Increasing value can come from an increasing resource or through moving the project closer to production with or without a rising gold price. And, as we all know, many governments have undertaken "quantitative easing" or in the colloquial, "printing money" which must lead, over time, to a rising gold price, rather like a boat rising on the tide.

These continue to be exciting times for the Company. Once we have issued the PEA on Gold Springs at the end of April, we will be planning the most appropriate way to move the project forward with an active exploration/development program. To date our exploration efforts at Gold Springs have yielded approximately one ounce of gold equivalent ("AuEq*) for every US$10 spent on exploration or another way to look at it is, on average, each drill hole has discovered approximately 5,000 ounces AuEq* (*gold plus silver/57.14).

Gold Springs is our exploration/development focus, as the Company moves to be a more precious metal focused Gold Stock.

But we also have other very important and valuable assets.

The Escalones copper-gold porphyry project in Chile, which already has a large announced resource, is a prime target to be considered either for immediate advancement through engineering studies, including an initial PEA, or for further resource expansion by drilling. The last month has seen a number of interested parties visit or review the project as they consider whether they wish to make a Joint Venture or other proposal. The position of the Company is that we can be patient, but we believe that in the long term it makes sense to find an appropriate partner offering an appropriate deal. The acquisition of the Las Bambas copper property in Peru by a Chinese consortium for a reported $5.85 billion and the discovery of new copper deposits in the same porphyry copper belt as Escalones and El Teniente has heightened interest in this market sector.

In 2012 when the Bolivian Government expropriated the Company's champion project, the Malku Khota silver-indium project, investors, including myself, lost an enormous amount of shareholder value. The Company held the property through its Bermudian subsidiary, a United Kingdom jurisdiction, with an investment treaty with Bolivia. This allows the Company to seek compensation through international arbitration. The arbitration is moving forward strongly now that the Arbitration Tribunal is in place. To allow shareholders to more clearly invest in either the Company's ongoing exploration/development programs (TMI or TMIAF) or the Company's prior discovery at Malku Khota through international arbitration with Bolivia, the Company created the Class B shares (TMI.B or TMIBF) to which 85% of the net-cash received from any arbitration award or settlement will be distributed. Substantive advances in the arbitration process are expected in 2014 with a major step forward being the expected submittal of the Company's Statement of Claim to the Arbitration Tribunal. It is important to note that most the Company's costs and expenses related to the arbitration proceedings are being funded by a third party funder on a non-recourse basis, in exchange for which the Company has agreed to pay a portion of any arbitration award or settlement to the funder.

The Company also owns the patent to the "acid chloride leach" technology that it developed for the Malku Khota silver-indium project that it owned. This patented technology can extract multiple metals from mixed ores including precious and base metals plus indium and gallium. All metals are extracted into a single leach fluid greatly simplifying the process. Now that the Company has the patent in place, it has the opportunity to look worldwide for appropriate projects.

The Company is now well positioned to create shareholder value for both the common shareholders and the holders of the Class B shares, with a strong management and exploration/development team, sufficient capital to progress, a highly prospective gold property at Gold Springs, Nevada/Utah, a very large porphyry copper-gold project at Escalones in Chile and its international arbitration claim against the Bolivian government.

I look forward to your continued support.

Sincerely,

Ralph Fitch, Chairman, President and CEO

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile, and realization of value from the expropriated Malku Khota project in Bolivia through the arbitration process. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Limited., owns 100% of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and on the OTCQX market under the symbols "TMIAF" and "TMIBF". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.

Forward Looking Statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "create", "believe", "upcoming", "could", "can", "pursuing", "further", "continue", "over time", "forward", "opportunity", "expected", "planning", "highly prospective", "will" and similar expressions. Information concerning mineral resource estimates and the interpretation of drill, metallurgical testing and other exploration results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties.

Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Escalones and Gold Springs projects, including possible variations in mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; timely receipt of required permits, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; uncertainties associated with the arbitration proceeding against Bolivia, including the quantum of damages to be obtained and the realization or collection of the value of any award or settlement; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form, which is available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the timely receipt of required permits for the Escalones and Gold Springs projects; the continuing support for mining by local governments in Nevada, Utah and Chile; the availability of equipment and qualified personnel to advance the Escalones and Gold Springs projects; execution of the Company's existing plans and further exploration and development programs for Escalones and Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs; the completion by the independent qualified person of a NI 43-101 compliant PEA technical report for Gold Springs; the ability of the Company to realize value from its investments in Bolivia; the arbitration proceeding along a timeline consistent with other international arbitrations; the third party funder honoring its contractual commitments regarding the arbitration; and efficiency of the markets in factoring developments at the Company's properties and in its arbitration into its share prices and actions of various governments into global gold prices.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this letter to shareholders. Except as required by law, TMI assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this letter to shareholders describe the Company's expectations as of April 24, 2014.

Class B Shares

The holders of the Class B Shares have contingent rights to receive a pro rata share of 85% of the net cash proceeds, if any (after deducting all costs, tax and expenses and the third party funder's portion thereof), received pursuant to any award or settlement agreement entered into in respect of South American Silver Limited's arbitration claim against the Government of Bolivia. The holders of Class B Shares will not realize any value if: (i) no award or settlement agreement is reached; (ii) no cash payment is included in a settlement agreement; or (iii) the costs of obtaining a cash payment on, or enforcement of, an award or settlement agreement exceeds the amount of such cash payment. South American Silver Limited has sole discretion and decision making authority over when and whether to pursue any particular course of action in respect of the arbitration proceedings, including whether to negotiate or enter into a settlement agreement and including whether to accept non-cash consideration pursuant thereto.

In addition, the accrual of value on the Class B Shares may be significantly delayed. The international arbitration process can take several years before an award is rendered or settlement reached. Once an award is rendered or settlement is reached, enforcing the award or settlement agreement could take additional several years and the full amount of any award or settlement may not ultimately be received, which would reduce the amount, if any, payable to the holders of Class B Shares.