Mr. Ralph Fitch reports

TRIMETALS MINING INC. UPDATE AND LETTER FROM THE CEO

TriMetals Mining Inc. has released a letter to its shareholders.

To the shareholders and new investors,

In March I spoke about the stabilizing market for our industry, and in the first quarter, share prices in the sector moved positively on good exploration and development results, whereas in 2013, much good news was disregarded. April has been more turbulent, and the company's common shares have received a battering. As an investor myself and a very large holder of TriMetals Mining shares, I see this as a real opportunity to invest, which, incidentally, I have been doing, and I now own over four million common shares and over three million Class B shares. Sophisticated investors should take note that the company has made major advances in the last year and is now well positioned to create shareholder value. This is a gold stock that I believe could have a very good year, building on the already announced expanded gold resource at Gold Springs in mining-friendly Nevada/Utah and the upcoming release of the first preliminary economic assessment (PEA) at Gold Springs at the end of April. The company has so far only drilled portions of two of 18 areas of outcropping gold mineralization and none of the buried geophysical targets at Gold Springs. Additional shareholder value can be created at the very large Escalones copper-gold project in Chile and through pursuing compensation for the loss of Malku Khota through international arbitration, both as more fully discussed below.

A positive PEA at Gold Springs will start to move the company and its common shares from a pure exploration play to a company with a defined asset ready to move along the engineering and development curve. In my view, this, together with our clear opportunity to further expand the resource and the fact that we have the financing in place to continue resource expansion drilling, is the basis for my thesis that the company's common shares represent an important gold stock to consider for investment. Increasing value can come from an increasing resource or through moving the project closer to production with or without a rising gold price; and, as we all know, many governments have undertaken "quantitative easing," or in the colloquial, "printing money," which must lead, over time, to a rising gold price, rather like a boat rising on the tide.

These continue to be exciting times for the company. Once we have issued the PEA on Gold Springs at the end of April, we will be planning the most appropriate way to move the project forward with an active exploration/development program. To date our exploration efforts at Gold Springs have yielded approximately one ounce of gold equivalent (AuEq (i)) for every $10 (U.S.) spent on exploration, or another way to look at it is, on average, each drill hole has discovered approximately 5,000 ounces AuEq (i).

(i) Gold plus silver divided by 57.14.

Gold Springs is our exploration/development focus, as the company moves to be a more precious-metal-focused gold stock, but we also have other very important and valuable assets.

The Escalones copper-gold porphyry project in Chile, which already has a large announced resource, is a prime target to be considered either for immediate advancement through engineering studies, including an initial PEA, or for further resource expansion by drilling. The last month has seen a number of interested parties visit or review the project as they consider whether they wish to make a joint venture or other proposal. The position of the company is that we can be patient, but we believe that in the long term, it makes sense to find an appropriate partner offering an appropriate deal. The acquisition of the Las Bambas copper property in Peru by a Chinese consortium for a reported $5.85-billion, and the discovery of new copper deposits in the same porphyry copper belt as Escalones and El Teniente, have heightened interest in this market sector.

In 2012 when the Bolivian government expropriated the company's champion project, the Malku Khota silver-indium project, investors, including myself, lost an enormous amount of shareholder value. The company held the property through its Bermudian subsidiary, a United Kingdom jurisdiction, with an investment treaty with Bolivia. This allows the company to seek compensation through international arbitration. The arbitration is moving forward strongly now that the arbitration tribunal is in place. To allow shareholders to more clearly invest in either the company's continuing exploration/development programs (TMI or TMIAF) or the company's prior discovery at Malku Khota through international arbitration with Bolivia, the company created the Class B shares (TMI.B or TMIBF) to which 85 per cent of the net cash received from any arbitration award or settlement will be distributed. Substantive advances in the arbitration process are expected in 2014, with a major step forward being the expected submittal of the company's statement of claim to the arbitration tribunal. It is important to note that most the company's costs and expenses related to the arbitration proceedings are being financed by a third party financer on a non-recourse basis, in exchange for which the company has agreed to pay a portion of any arbitration award or settlement to the financer.

The company also owns the patent to the acid chloride leach technology that it developed for the Malku Khota silver-indium project that it owned. This patented technology can extract multiple metals from mixed ores including precious and base metals plus indium and gallium. All metals are extracted into a single leach fluid, greatly simplifying the process. Now that the company has the patent in place, it has the opportunity to look worldwide for appropriate projects.

The company is now well positioned to create shareholder value for both the common shareholders and the holders of the Class B shares, with a strong management and exploration/development team, sufficient capital to progress, a highly prospective gold property at Gold Springs, Nevada/Utah, a very large porphyry copper-gold project at Escalones in Chile, and its international arbitration claim against the Bolivian government.

I look forward to your continued support.

Sincerely,

Ralph Fitch, chairman, president and chief executive officer

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