Trio Gold Corp. Updates Mining Activity

Business Wire, Oct 5, 1995

CALGARY, Alberta--(BUSINESS WIRE)--Oct. 5, 1995--Trio (ASE:TGK) has entered into an option agreement to acquire a 100 percent working interest in the Big Blackfoot gold deposit which is located 4 miles west of the town of Lincoln, Montana, and 10 miles west of Phelps Dodge's Seven Up Pete gold project which is reported to contain approximately 5 million ounces of gold. The property consists of 51 claims which includes four patented claims, plus 240 acres of fee simple land for mill site and leach pads.

A total of 180 core and reverse circulation drill holes were previously completed on this property. These drill programs have delineated a geological reserve estimated to be 9 million tons, grading 0.030 ounces of gold per ton. Preliminary metallurgical test work indicated that gold recovery ranged from 83 percent to 96 percent.

Mine permitting is expected to be completed within one year. Based on a preliminary feasibility study prepared by an independent mining engineering company, the proven and probable reserves warrant development based at current gold prices.

The limits of the gold mineralized area have not yet been defined, Trio intends to conduct additional core and reverse circulation drilling to define these limits.

Subject to regulatory approval, Trio will issue 200,000 common shares plus an additional number of shares that will equate to a grand total of Cdn $900,000 at production start-up. The share price shall be based on the market value of Trio at the time of production start-up.

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Note: The Alberta Stock Exchange has neither approved nor disapproved this release.

CONTACT: Harry B. Ruskowsky

President

(403) 262-9640

(403) 262-9759 (FAX)