Mr. Ricus Grimbeek reports

TREVALI EXTENDS ZINC HEDGING PROGRAM OUT TO END OF 2021

Trevali Mining Corp. has entered into a fixed zinc pricing arrangement, pursuant to its existing offtake agreements with an affiliate of Glencore PLC, for 59.5 million pounds of zinc, or approximately 25 per cent of the company's forecasted zinc production. The tenure of the arrangement is for a nine-month period covering April, 2021, to December, 2021, at a price of $1.23 per pound. This extends the existing hedging program, which covers the period October, 2020, to March, 2021.

Ricus Grimbeek, president and chief executive officer, commented: "We've seen the zinc price increase by over 50 per cent in the last eight months. Concentrate stockpiles have been depleting, and the mine supply side is fragile. Zinc demand is being driven by government infrastructure stimulus spending, which began in China and is expected to expand to the rest of the world in the midterm. With smelters short on concentrate, they have responded by lowering their treatment charges to compete for supply, and the annual benchmark treatment charge for 2021 is expected to be reset lower than in 2020. Spot treatment charges for the month of October averaged $110 per tonne, 63 per cent below the 2020 annual benchmark of $300 a tonne. With a higher zinc price, and lower treatment charges expected in about 40 days, Trevali is positioned well to benefit from the expected improvements to the zinc market.

"Based on our perception of the current market momentum and the positive changes to the forward curve, we took the opportunity to extend the tenure of our hedge book and fix the price of approximately 25 per cent of our forecasted zinc production for an average price of $1.23 a pound out to the end of 2021. This locks in a portion of our cash flows while retaining significant exposure to movements in the zinc price, with the majority of our production unhedged to positive price movements."

About Trevali Mining Corp.

Trevali Mining is a global base-metal-mining company, headquartered in Vancouver, Canada. The bulk of Trevali's revenue is generated from base metal mining at its three operational assets: the 90-per-cent-owned Perkoa mine in Burkina Faso; the 90-per-cent-owned Rosh Pinah mine in Namibia; and the wholly owned Santander mine in Peru. Trevali also owns the Caribou mine, the Halfmile property, the Stratmat property and the Restigouche deposit, all located in New Brunswick, Canada, as well as the past-producing Ruttan mine, located in Northern Manitoba, Canada. Trevali also owns an effective 44-per-cent interest in the Gergarub project, located in Namibia, as well as an option to acquire a 100-per-cent interest in the Heath Steele deposit, located in New Brunswick, Canada.

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