FOR
IMMEDIATE RELEASE
AUSTRALIAN SUBSIDIARY COMPLETES BROKERED
PLACEMENT
APRIL 23, 2007
Tri
Origin Exploration Ltd. (TOE: TSX-V) is
pleased to announce that its Australian subsidiary Tri Origin Minerals Ltd
(TRO) has successfully completed a brokered placement to raise gross proceeds
of A$9.0 million (Cdn $8.46 million). The placement resulted in the issue
of 7.5 million ordinary shares of TRO at an issue price of A$1.20 (Cdn $1.13)
per share primarily to Australian institutional investors.
As a result of this
placement, Tri Origin Exploration will now own 51% of TRO’s issued
capital.
In addition, TRO
announced that a Share Purchase Plan (SPP) will be offered to its eligible
Australian and New Zealand
shareholders. The SPP allows each eligible shareholder of record as at
April 20, 2007 to purchase up to A$5,000 (Cdn $4,700) of TRO ordinary shares
priced at A$1.20 per share (Cdn$1.13) to a closing date of May 17, 2007.
The funds raised will
be used to undertake a bankable feasibility study and seek statutory
development approvals for the Woodlawn zinc/copper project, gain access to the
existing underground workings for planning and evaluation purposes, fund
ongoing exploration and for general working capital. TRO is focused on
delivering a bankable feasibility study for the development of the Woodlawn
zinc/copper project by first quarter 2008.
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.