January 25, 2010
FOR IMMEDIATE RELEASE:
Not For Distribution in the United States or over United States Wire Services
TRI ORIGIN DECLARES DIVIDEND-IN-KIND
Tri Origin Exploration Ltd. (the ?Company?) (TOE: TSX-V) announces that its board of directors has declared a special dividend-in-kind (the ?dividend?) of approximately 17.3 million of the common shares it holds in its Australian affiliate Tri Origin Minerals Ltd. doing business in Canada under the name ?TriAusMin? (the ?TOR Ordinary Shares?) to its shareholders of record as at February 3, 2010 (the ?record date?). This dividend follows successful completion of TriAusMin?s dual listing of shares and commencement of trading on the Toronto Stock Exchange under the symbol TOR on January 22, 2010. Each Canadian resident holder of the Company?s common shares on the record date will receive 0.30 TOR Ordinary Shares for each one of the Company?s common shares held. Shareholders will not receive fractional shares. The payment date for the dividend is on or about February 12, 2010. TOR Ordinary Shares received in this dividend will be restricted from trading for a four month period until or about May 23, 2010. The declaration of this dividend follows shareholder approval on November 24th, 2009 for the reduction in the Company?s stated capital. The dividend will be taxable and non-residents of Canada will be subject to Canadian withholding taxes. No shares will be issued to shareholders who are non-residents of Canada. Rather, such shares will be delivered to a trustee for sale in the open market following the dividend-in-kind and the net proceeds will be delivered to non-resident shareholders, net of any withholding taxes.
The Company?s holding in TriAusMin will be reduced from approximately 49 million shares to 32 million shares and the ownership reduced from approximately 48% to 27% following this dividend and after consideration of a financing which TriAusMin recently completed.
TriAusMin operates a number of advanced exploration and development-ready base and precious metals projects within the highly prospective Lachlan Fold Belt of New South Wales, Australia. A successful listing on the TSX and the creation of a substantial shareholder base through the share dividend hereby announced by the Company will enhance TriAusMin?s value, create additional liquidity and expose it to a substantial, new resource-oriented marketplace.
Tri Origin Minerals? head office will continue to be located in Sydney, Australia and its ordinary shares will continue to trade on the Australian Securities Exchange under the symbol TRO. In Canada, TriAusMin can be contacted through its Toronto area office 905-727-8688 or info@triausmin.com ..
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The TOR Ordinary Shares to be distributed have not been approved or disapproved by any Canadian or U.S. regulatory authority. The TOR Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws. The TOR Ordinary Shares may not be offered or sold in the United States of America or to, or for the benefit of, a U.S. person.
For further information, please refer to the Company?s website www.triorigin.com or contact:
Tri Origin Exploration Ltd.
Dr. Robert Valliant, President
Tel: (905) 727-1779
E-mail: invest@triorigin.com
Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada. Tri Origin has leveraged exposure to mineral discoveries in Australia through its equity interest in its affiliate, TriAusMin the registered business name of Tri Origin Minerals Ltd.; a publicly traded, dual listed company that trades on the Toronto Stock Exchange under the symbol TOR and the Australian Securities Exchange under the symbol TRO.