Trivalence Mining Corporation - Diamond Sale Tops US$4.7 Million.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 13, 2000 Trivalence tri·va·lent adj. Having valence 3. tri·va  lence, tri·va Mining Corporation (OTCBB OTCBBSee OTC Bulletin Board (OTCBB). :TMIGF)(CDNX CDNX See Canadian Venture Exchange (CDNX). :TMI TMI Too Much Information TMI Three Mile Island TMI TRMM Microwave Imager TMI Transactions on Medical Imaging TMI Texas Military Institute TMI Teen Missions International TMI Tauber Manufacturing Institute .) is pleased to report sales figures from the first diamond sale of its new fiscal year beginning July 1, 2000. The sale was held in Conakry, Guinea by sealed tender and was attended by 13 bidders. The sale consisted of 11,727.6 carats of rough diamonds recovered from the Company's 85% owned Aredor mine located in Guinea. The sale was comprised of 6 parcels of gem quality diamonds weighing 5618.9 carats which sold for US $ 4,393,227and one parcel of near gem diamonds weighing 6,108.7 carats which sold for US $367,134. The average price per carat of the gem quality diamonds was US $781.86 and the average price per carat of the near gems was US $60.09. The Company is extremely encouraged by the levels and quality of diamond produced in the first two months of its current fiscal year. This first sale of the current year represents 35% of the total diamonds sold and 31% of the sales revenue generated during the entire fiscal year ending June 30, 2000. The Company is continuing with its expansion plans to increase diamond production levels at the Aredor mine. Trivalence Mining Corporation is a publicly traded mineral 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 50% interest in the Palmietgat kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. diamond mine currently under development in South Africa. In addition to its investments in the Aredor and Palmietgat mines, Trivalence is conducting Kimberlite exploration programs at the 1,012 square km Aredor concession, the 3,664 square km Kokong property in Botswana and the 52 square km Weymouth property located at Ungava Bay Quebec, Canada. Lutfur Rahman Khan President & C.E.O. The Company relies upon litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for "forward looking" statements. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release. |
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