Trevali Mining Corporation provided an update for the financing of the Rosh Pinah Expansion project ("RP2.0"). The results of the Feasibility Study were released on August 17, 2021. Trevali is currently working toward securing project financing for the RP2.0 expansion project and refinancing both the existing Corporate Revolving Credit Facility and Glencore Facility, maturing in September 2022.

In parallel, an early works program has commenced for RP2.0. Trevali appointed Endeavour Financial in September 2021 to advise the Company on the formation of a lending syndicate, coordinate lender due diligence and negotiate financing documentation with the objective of providing a competitive non-equity financing solution for RP2.0 and refinancing the existing Corporate Revolving Credit Facility. Trevali is considering several opportunities for the financing package, including project finance debt, subordinated debt and a silver stream on Rosh Pinah's silver production. The Company has received non-binding expressions of interest from several capital providers about participating in the financing process, including commercial banks, streaming and royalty companies, and mining focused alternative lenders, as well as from Rosh Pinah's concentrate offtaker, Glencore.

Glencore has indicated its support for the project by proposing an aggregate $33 million financing package, which may include an extension to the existing Glencore Facility of $13 million, subordinated to traditional project finance debt and contingent on the remainder of the required financing package being secured as well as negotiation of satisfactory terms and conditions. Commencement of RP2.0 Expansion Project Early Works Program In parallel with its project financing initiatives, Trevali continues to advance certain aspects of RP2.0 in order to maintain the project schedule and mitigate the risks associated with the project as outlined in the Feasibility Study. The early works program, which has a capital budget of $20 million is expected to be financed from internal cash flows and consists of the following scope: Procurement of mobile equipment; Power supply system upgrade; Paste backfill plant long lead item procurement; Portal construction and decline development; Process plant detailed engineering.