VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(BVLAC:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces that it has closed its previously announced underwritten financing of units (the "Units") and flow-through common shares ("FT Shares") (together, the "Offering"). The Units were priced at CAD$0.90 and consist of one common share in the capital of the Company (a "Common Share") and one half of one common share purchase warrant (each whole purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of CADN$1.10 for a period of two years. The FT Shares were priced at CAD$1.00 per FT Share. The Offering was completed by a syndicate of underwriters led by Raymond James Ltd. and including M Partners Inc., GMP Securities L.P., Scotia Capital Inc., and Paradigm Capital Inc.

The final Offering size consisted of CAD$10,000,000 in FT Shares and CAD$20,070,000 in Units for total gross proceeds of CAD$30,070,000. In parallel with this Offering, a private placement of CAD$2,340,000 in Units is expected to close early next week with Kallpa Securities SAB of Lima, Peru ("Kallpa") to qualified South American investors (the "Peruvian Offering"). The total size of the Offering and Peruvian Offering is CAD$32,410,000. A cash commission of 5.0% is payable on the proceeds of the Peruvian Offering to Kallpa as consideration for arranging the private placement.

The net proceeds of the Offering and Peruvian Offering will be used for construction expenditures at the Halfmile Property and the Santander Property, to repay principal and interest on an outstanding loan in the amount of USD$8,400,000 to Cardero Resource Corp., to prepare, if required, a mill feasibility study at the Halfmile-Stratmat Property, to engage a preliminary economic assessment at the Ruttan Property, and for general working capital purposes. The proceeds of the FT Shares will be used for exploration expenditures, which will constitute Canadian exploration expenses as defined in the Income Tax Act (Canada) at the Halfmile Property.

ABOUT TREVALI MINING CORPORATION

Trevali is advancing two polymetallic (zinc-lead-silver-copper) deposits to production in Canada and Peru – the Halfmile and Santander mine projects respectively. In Canada, Trevali has the Halfmile and Stratmat polymetallic deposits in the Bathurst Mining Camp of northern New Brunswick, and the past-producing Ruttan copper-zinc mine in northern Manitoba. Mine development is currently underway at the Halfmile Mine Project with a planned production rate of 2,000-tonnes-per-day anticipated to commence by year-end 2011.

In Peru, the Company has the Santander zinc-lead-silver mine project and the former-producing Huampar silver mine, both located in the Central Peruvian Polymetallic Belt. At the planned 2,000-tonne-per-day Santander operation, mine commissioning is anticipated to commence in the first half of 2012 with full production to follow immediately thereafter. Additionally through its wholly-owned 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) 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 ].

U.S. Cautionary Statements

The securities included in the Offering have not been and will not be registered under the U.S. Securities Act or the laws of any state or other jurisdiction of the United States. Neither the U.S. Securities and Exchange Commission nor any state securities commission in the United States has approved or disapproved of the Company's securities or passed upon the accuracy or adequacy of the disclosure in the short form prospectus and any representation to the contrary is a criminal offence in the United States.

On Behalf of the Board of Directors of TREVALI MINING CORPORATION

Mark D. Cruise, President

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the company does not intend, and does not assume any obligation to, update such statements containing the forward-looking information. Such forward-looking statements and information include, but are not limited to statements as to: the anticipated use of the proceeds from the Offering and the Peruvian Offering, the accuracy of estimated mineral reserves and resources, anticipated results of future exploration, and forecast future metal prices, anticipated results of future electrical sales and expectations that environmental, permitting, legal, title, taxation, socio-economic, political, marketing or other issues will not materially affect estimates of mineral reserves. These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.

These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release and the company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in spot and forward markets for silver, zinc, base metals and certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in currency markets (such as the Peruvian sol versus the U.S. dollar); risks related to the technological and operational nature of the Company's business; changes in national and local government, legislation, taxation, controls or regulations and political or economic developments in Canada, the United States, Peru or other countries where the Company may carry on business in the future; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour;
the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining,; diminishing quantities or grades of mineral reserves as properties are mined; global financial conditions; business opportunities that may be presented to, or pursued by, the Company; the Company's ability to complete and successfully integrate acquisitions and to mitigate other business combination risks; challenges to, or difficulty in maintaining, the Company's title to properties and continued ownership thereof; the actual results of current exploration activities, conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors; increased competition in the mining industry for properties, equipment, qualified personnel, and their costs. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Trevali's production plans at Halfmile-Stratmat and Santander are based only on Indicated and Inferred Mineral Resources and not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is therefore no certainty that the conclusions of the production plans and Preliminary Economic Assessment (PEA) will be realized. Additionally where Trevali discusses exploration/expansion potential, any potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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