VANCOUVER, British Columbia, June 5, 2002 (PRIMEZONE) -- Trivalence Mining Corporation (TSX Venture Exchange:TMI), (OTCBB:TMIGF) The Company is pleased to report that it completed its fifth diamond sale of 2002 on May 29, 2002 in Antwerp, Belgium. The sale consisted of diamonds totaling 4,503.87 carats which sold for U.S. $2,157,981, an average of U.S. $479.14 per carat. All diamonds in the sale were derived from the Company's 85% owned Aredor alluvial mine in the Republic of Guinea, West Africa. Diamond sales to date from the Aredor mine in 2002 have been U.S. $6,460,970 representing the sale of 20,783 carats for an average of U.S. $310.88 per carat. The Company recently reported progress on its two exploration joint ventures with Rio Tinto Mining and Exploration Limited ("Rio Tinto") as follows:Aredor Kimberlite Exploration, Guinea
Upon completion of the drill testing of the target proximal to K14, Rio Tinto has informed the Company that it intends to return to the K5 area to carry out further drilling. The K5 Kimberlite, centrally located on the Aredor concession, is one of a cluster of four pipes all occurring within 600 meters of one another. These pipes are immediately south of areas presently being mined by Trivalence for alluvial diamonds. Diamonds recovered from these blocks have consistently sold for an average of between U.S. $450 and U.S. $500 per carat.
Kokong Kimberlite Exploration, Botswana
Tinto Botswana has completed the first phase of data compilation and orientation surveys. On the Kokong licenses, there are 31 known Kimberlite pipes, 15 of these are diamondiferous. The 2000 aeromagnetic survey done by Fugro for Trivalence has been re-interpreted and 96 targets selected. Of these, 50 are considered high priority. Tinto Botswana's objective is to select 20 targets for RC drilling. The selection process includes a combination of geophysical methods and KIM (Kimberlite Indicator Minerals) sampling. A test of the BHP-Billiton airborne gravity system (Falcon) has also been conducted.
Trivalence Mining Corporation is a publicly traded exploration and development company with a primary focus on diamonds. The Company owns an 85% interest in the Aredor diamond mine in Guinea, West Africa, and a 100% interest in the Palmietgat Kimberlite diamond mine in South Africa. The Company is conducting Kimberlite exploration program at the 1,012 square km. Aredor concession in Guinea through a joint venture with Rio Tinto Mining & Exploration Limited, England. The Company is also conducting Kimberlite exploration program through a joint venture with Rio Tinto at its 3,700 square km. Kokong property in Botswana.
The Company relies upon litigation protection for "forward-looking" statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.