FOR IMMEDIATE RELEASE:
June 23, 2008
Tri Origin Exploration Ltd. (TOE:TSX-V) (the ?Company?) is pleased to announce that its Australian subsidiary, Tri Origin Minerals Ltd. (?TRO?), has completed the placement of a maximum of 5,610,000 ordinary shares at $0.75 AUD (approximately $0.72 Cdn) per share to raise up to $4,207,500 AUD (approximately $4,039,000 Cdn). This financing was conducted by TRO through the Australian markets, completed solely by them in Australia and was structured in Australia as an exempt offer under the Corporations Act and allowed under ASX Listing Rules.
The proceeds of this issue will be used by TRO to complete the bankable feasibility studies and to seek statutory development approvals for the Woodlawn Retreatment Project and an integrated Retreatment and Underground Project, to fund ongoing exploration in Australia and for working capital purposes. A progress report prepared by TRO discussing the Woodlawn Retreatment Project is available at the Company?s website, www.triorigin.com. Once there you may access ?Investor info? and then proceed to ?Presentations & Reports?.
Based on recent share prices for TRO, the current market value of the Company?s holding of TRO shares approximates $28 million or $0.55 per Company share outstanding. Subsequent to this placement, the Company continues to hold approximately 49 million shares of TRO, representing a 48% interest in TRO.
The Company is a leading Canadian gold explorer with exploration projects in Canada and, through its investment in TRO, exploration and development stage projects in Australia.
For further information please contact:
Tri Origin Exploration Ltd.
Dr. Robert Valliant, President
Tel: (905) 294-9942.
Web page:www.triorigin.com
E-mail: invest@triorigin.com
Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin has leveraged exposure to mineral discoveries in Australia through its 51% equity interest in its subsidiary, Tri Origin Minerals Ltd.; a publicly traded company listed on the Australian Stock Exchange under the symbol TRO.