EXHIBIT 99.1
FOR IMMEDIATE RELEASE ON OCTOBER 31, 2005
TREND MINING ANNOUNCES 2005 EXPLORATION RESULTS
Denver, CO-Trend Mining Company (OTC-TRDM.OB) is pleased to announce encouraging
results from each of its 2005 exploration programs at Stillwater, Montana
(diamond drilling); Lake Owen, Wyoming (ground magnetic surveys just completed);
and Peter Lake, Saskatchewan (reconnaissance exploration). Separately, Nuinsco
Resources (TSX: NWI) recently completed its airborne geophysical and ground
geochemical surveys over Trend's Athabasca Basin (Saskatchewan) uranium project
where Nuinsco and Trend are exploring at Diabase Peninsula. Interim results from
those programs were released by Nuinsco on October 13th and October 25th and on
October 25th by Trend Mining.
Thomas Loucks, President & CEO, commented, "Trend is implementing its plan. It's
truly unusual to have positive results on each of four exploration projects,
when one goal of diversifying to four was to assure the possibility of positive
results on at least one. The caliber of the projects' potential, and the caliber
of the geologists conducting the work for Trend, are creating a stable of
diversified, enhanced properties with good potential for further farm-outs.
Stillwater, Montana: Trend can earn a 50% interest in portions of Aurora Metals
(BVI) Limited's (OTC: AURMF.OB) Stillwater project by spending $2 million over 5
years. Aurora Metals' ground is located adjacent to and immediately south of
Stillwater Mining Company's (NYSE-SWC) Stillwater County platinum-palladium
mining complex. To that end, Trend spent considerable time during the winter and
spring of 2005 preparing for and permitting drill targets, and commenced its
helicopter-supported drill program in July. The program targeted three
distinctly different targets at separate locations.
The first hole, MV05-1, designated to test the historic Mouat nickel-copper
resource, was lost in alluvium and landslide material before it could encounter
bedrock. The second hole, MV05-2 (TD 600 feet), was targeting a strong magnetic
anomaly that could signify potential for nearby, associated platinum-palladium
mineralization and did succeed in intersecting prospective and promising
mineralogy (magnetite (>10%) and olivine) at depths of 300-350 feet. The third
hole, MV05-3, was collared in Nye Basin to the east of the Stillwater River. The
hole targeted PGM mineralization at depths of approximately 350-500 feet, but
was terminated when Trend's geologist realized it had passed beneath the target.
Each of the two latter holes warrant follow-up in 2006, with renewed drilling at
the Mouat nickel-copper project being planned as well.
Lake Owen, Wyoming: Trend owns 100% of this platinum-palladium and iron
(magnetite) prospect located just southwest of Laramie, Wyoming. The property is
underlain by layered rocks with potential for platinum-palladium mineralization
similar to that occurring at Stillwater, Montana, or for platinum-palladium w/
titanium- and vanadium-enriched magnetite as at the Bushveld complex in South
Africa. Lake Owen has a very strong magnetic signature, such that a conventional
compass will not work at the property; thus Trend's current efforts are focused
on searching for high grade concentrations of magnetite with potential for
economic concentrations of titanium and vanadium. To that end, Trend was
extremely pleased to visibly identify two areas of magnetite mineralization
while conducting ground magnetic surveys at Lake Owen. Those surveys, completed
this week, will be used to plan exploration drilling for titaniferous and
vanadiferous magnetite as well as for platinum group metals in 2006.
Peter Lake, Saskatchewan: In June, Trend's team of four geologists conducted a
reconnaissance program covering 140 square miles to examine and sample
platinum-palladium and base metal occurrences in the Peter Lake Domain of
northeastern Saskatchewan. Trend's claims are located about 300 km north of La
Ronge,
Saskatchewan, and exploration programs here, as in much of the Canadian
Shield, are conducted from base camps established by float plane. The Peter Lake
Domain consists of a complex of gabbroic to dioritic rocks which host PGM
occurrences previously investigated by Lacana Mining, Golconda Resources, the
Saskatchewan Mining and Development Corporation, the Saskatchewan Geological
Survey (SGS), and the Geological Survey of Canada (GSC). The 2.56 Ga Swan River
Complex within the Peter Lake Domain contains rocks which host platinum and
copper mineralization locally associated with magmatic layering and cumulate
textures suggestive of potential for Bushveld- or Stillwater-type deposits of
platinum-palladium mineralization or layered intrusions with potential for
copper-nickel mineralization.
The team examined several PGM targets as well as magnetic anomalies defined by
the new regional aeromagnetic survey released by the GSC in May, 2005, and
followed up with exploration of anomalous occurrences of base metal and PGM
mineralization sampled by Trend representatives in 2004. The team confirmed the
presence of platinum mineralization at six PGM targets and found that
mineralization consisted of disseminated, pod-like sulfide zones up to 3 meters
wide by up to a few tens of meters along strike. The zones contained up to 5%
combined chalcopyrite, pyrrhotite, and pyrite. The mineralized zone at the "What
Lake" target contained 0.249 ppm Pt, 0.210 ppm Pd, 0.241 ppm Au, and 4,710 ppm
Cu across a width of 3 meters. These targets merit additional follow-up work to
define the grade and extent of platinum mineralization. Shallow drilling will be
necessary for the next phase of work to test the down dip extent of the
mineralization, and geophysical surveys and/or drilling will be needed to test
areas along strike covered by extensive vegetation, swamp, and lakes. Due to the
high cost of exploring this remote but high potential project, the Company is
already in discussions with larger, industry partners to spread the cost of
exploring at Peter Lake in 2006, one of which has proposed an airborne EM survey
over the entire block to search for areas with concentrations of sulfide
mineralization. The sulfide mineralization could host economic concentrations of
any of copper, nickel, platinum, palladium, and gold.
Trend Mining Company is a U.S. based minerals company that has 30% ownership of
the Andacollo gold mine in Chile, 100% ownership of the Cree Lake/Diabase
Peninsula uranium project in the Athabasca Basin (subject to Nuinsco Resources's
earning 50%), and interests in three North American precious metals properties
with potential for hosting significant amounts of platinum, palladium, gold and
other metals.
THROUGHOUT THIS PRESS RELEASE THERE ARE FORWARD LOOKING STATEMENTS AND
ASSUMPTIONS MADE BY MANAGEMENT WITHIN THE MEANING OF SECTION27A OF THE
SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934
AND ARE SUBJECT TO THE SAFE HARBOR CREATED BY THOSE SECTIONS. FACTORS THAT COULD
CAUSE RESULTS TO DIFFER MATERIALLY FROM THOSE PROJECTED ARE, BUT NOT LIMITED TO,
ADVERSE PRICE FLUCTUATIONS OF UNDERLYING METALS, THE COMPANY'S ABILITY TO
ACQUIRE AND DEVELOP PROPERTIES, COMPETITION FROM LARGER MORE ESTABLISHED
COMPANIES, THE ABILITY TO FINANCE FUTURE ACQUISITIONS AND PROJECTS, AND
GOVERNMENTAL REGULATION. TREND MINING COMPANY BELIEVES THAT THE PROJECTS IT HAS
ENTERED INTO AND THOSE IT WILL ENTER INTO SHOW PROMISE, BUT THERE CAN BE NO
GUARANTEE OF THAT. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND
SHOULD NOT BE CONSTRUED AS AN OFFER TO SOLICIT, BUY, OR SELL ANY SECURITY.
For further information contact: Trend Mining Company
Thomas Loucks, President & CEO
Phone: 303-798-7363