Trio Gold Completes Acquisition Of Union Bonanza Capital Corp.

CALGARY, Alberta--(BUSINESS WIRE)--Nov. 14, 1995--Trio Gold Corp. has completed its acquisition of Union Bonanza Capital Corp., a private Alberta company, pursuant to which it issued 2,384,500 common shares in exchange for 4,769,000 issued and outstanding shares of Union Bonanza. It is Trio's intention to wind up Union Bonanza into Trio.

The acquisition of Union Bonanza has provided Trio with an interest, or the option to earn an interest, in gold and diamond mineral exploration properties located in North and Central America. The mineral exploration properties are located in Costa Rica and Nevada, while the diamond exploration property is located in the Northwest Territories.

Costa Rica - Central America

Trio has the option to purchase 100% interest in a 9 square km gold concession. The concession lies within the Aquacate Mining District (Montes del Aquacate) in the central-western part of the country where gold and silver have been mined since 1815 from underground epithermal vein deposits.

The property hosts three sizeable parallel vein systems; La Compania, La Sacra Familia and La Quebrada Honda (La Union). La Compania vein has reportedly produced US$4 million of gold from several underground operations. Operations from 1937 to 1952 on La Quebrada Honda (La Union) is reported to have produced 620,000 tons of ore yielding 300,000 ounces of gold. La Quebrada Honda has a well-developed quartz veined stockwork that, based on preliminary sampling, could yield a large low grade gold/silver deposit. Gold mineralization occurs in a rich quartz stockwork over a strike length in excess of 200 meters and up to 75 meters wide. Results from channel and grab samples over the area yielded gold up to 0.270 ounces per ton, with silver values as high as 2.71 ounces per ton. This property has excellent potential to become a significant gold and silver producer.

Pipeline Trend - Nevada

Trio acquired a 100 percent interest in a total of 113 claims. These claims are located in Eureka County, Nevada between the Cortez and Buckhorn group of mines to the northwest, and the Tonkin Springs and Gold Bar group of mines to the southeast. In nearby Crescent Valley, Placer Dome recently discovered a world-class gold deposit (the Pipeline). Barrick Gold are currently exploring the adjoining property where drilling is being conducted less than 1 mile from the claim block. Other companies active in the area are: Placer Dome, Kennecott, Barrick and Asarco. This property has the potential for a large open-pit/heap leach deposit.

The Northwest Territories

Trio has the option to earn up to a 75 percent interest in 77,500 acres in an area that is being actively explored for diamonds. The property is located approximately 40 km southwest of the recent diamond discovery announced by Mountain Province Mining Inc. -0-

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

CONTACT: Trio Gold Corp.

Harry Ruskowsky, 403/262-9640

403/262-9759 (FAX)