Trivalence Mining Corporation - Year-End Earnings Of $0.16 Per Share.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 16, 2000

Trivalence Mining Corporation (OTCBB:TMIGF)(VSE:TMI.) reports its financial and operating results for the year ended June 30, 2000.

The Company reports revenues of $22,606,384 and net earnings of $2,500,449 or $0.16 per share compared to revenues of $12,071,947 and a loss of $2,130,588 or $0.14 per share for the prior year ended June 30, 1999. The operating results are summarized below:

                                             Year Ending
                              Year Ending    June 30, 1999
                              June 30, 2000  (Restated) (2)
Revenues                      $22,606,384    $12,071,947
Expenses                       19,302,884     13,992,602
Income (Loss) before
 income taxes and
 non-controlling interest     $3,303,500     $(1,920,655)
Income Taxes                     443,000         469,000
Non-controlling Interest         360,051      (  259,067)
Net Income (Loss)             $2,500,449     $(2,130,588)
Earnings (Loss) per share          $0.16          $(0.14)
Net Cash Flow (1)             $6,572,118     $   709,659
Net Cash Flow per share            $0.41           $0.04

1)   Before net change in non-cash working capital items.
2)   1999 Financial Statements have been restated to reflect
     a change in accounting policy with respect to income taxes.

The increase in earnings in 2000 was due primarily to increased production.

Revenue for the year ended June 30, 2000 were $22,415,756 representing the sale of 33,529 carats for US $15,274,301 (US $455.56/carat). Revenue for the year ended June 30, 1999 was $12,064,433, representing the sale of 21,280 carats for US $8,076,054 (US $379.52/carat). The 89% increase in diamond sales was due to 58% increase in carats sold and a 20% increase in average selling price per carat.

The Aredor mine produced 40,803 carats during the year ended June 30, 2000 compared with 25,070 carats in 1999. The 63% increase in production during the year is attributed to higher tonnage of gravel mined, better gravel grades, and improvements in the recovery process at the 14 foot pan plant.

Production costs per carat sold excluding royalty expense was $288.87/carat (US $196.51/carat) for the year ended June 30, 2000 compared with $320.70 (US $221.17) in 1999. The 10% improvement in 2000 compared with 1999 was due to an increased volume of material mined and improvements made to the 14 foot pan plant that now processes 120 tonnes of material per hour on a consistent basis.

In June 2000, the Company repaid $500,000 principal of its long-term debt and in September, 2000 repaid a further $2,500,000 from operating cash flow, reducing long-term debt by 32%.

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 diamond mine 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 3,700 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 protection for "forward-looking" statements. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.