TMC:CC - Trench Metals Applauds Trudeau Government's Nearly $1 Billion Investment in Nuclear Sector

(TheNewswire)

Vancouver, Canada– TheNewswire - October 27 Th ,202 2 - Trench Metals Corp . (the “ Company ”)(TSXV: TMC ) , (OTC: NVTQF ), ( FWB: 33H2 ) is applauding the Trudeau government’s recent (Tuesday,October 25 th , 2022) announcement that Canada willprovide C$970 million in financing to develop a grid-scale small modular reactor(SMR), a new nuclear technology touted as a keypart of the country's plans to reduce emissions, Natural ResourcesMinister Jonathan Wilkinson said on Tuesday.

See: https://www.reuters.com/business/energy/canada-backs-nuclear-power-project-with-c970-mln-financing-2022-10-25/

Key highlights in the statement include:

• The funding, offered as low-interest debt from theCanada Infrastructure Bank's (CIB) pool earmarked for clean powerinvestments, would go toward preparation work required prior tonuclear construction, including project design and sitepreparation.

• At the Tuesday announcement, Ontario Power Generation(OPG) CEO Ehren Cory revealed the company will be investing the fundsso the SMR reactor can be built and fully functional at the DarlingtonNuclear Generating Station by 2029. Cory was joined by OntarioMinister of Energy, Todd Smith.

• Recognition that nuclear energy is critical to theachievement of Canada's climate goals. Wilkinson said at theDarlington Energy Complex in Clarington, Ontario, “Canada, like therest of the G7, is targeting net-zero emissions by 2050. Thegovernment has an intermediate goal to cut emissions 40% to 45% below2005 levels by 2030. Nuclearpower is one source that can help in reaching our climate targetswhile addressing growing future demand

• Once the SMR is completely built, OPG says it willavoid about 740,000 tonnes of greenhouse gas emissions each year --roughly the equivalent of gas emissions from 160,000 gas-poweredcars.

Four provincial governments (Saskatchewan, Ontario, NewBrunswick and Alberta) are pushing ahead with a plan to advancenuclear power in Canada. Don Morgan, minister responsible forSaskPower in Saskatchewan, and his provincial counterparts said thesmall-scale reactors are a good solution to providing clean power inremote communities and to Alberta's oilsands.

Saskatchewan’s Athabasca Basin is Canada’s leadingproducer of uranium, with 90 per cent exported, and the remaining 10per cent fuelling nuclear reactors in Canada. Saskatchewan’s uranium is responsible forpowering approximately 1 in 20 homes in the United States(*). According to the 2021 Fraser InstituteAnnual Survey of Mining Companies, Saskatchewan has retained its #1spot as the best place in Canada, and is the second-best jurisdictionglobally, for mining investment attractiveness.

The Company has the right to acquire a 100-per-centinterest in two highly prospective uranium project in Saskatchewan'sAthabasca uranium district and is actively exploring the HigginsonLake and Gorilla Lake properties. Results from a recent explorationprogram (see Press Release Oct 4, 2022) on the Higginson Lake uraniumproject will be announced when assays are received.

“This recent announcement of almost $1 billion infunding support from the Federal government to develop small modularreactor (SMR) is a meaningful milestone for the continuing renaissanceof the nuclear sector and the increasing demands to explore for, anddevelop, new uranium deposits. Trench Metals is well positioned in theAthabasca uranium district to participate in this search for newuranium deposits”, states President, Mr. Simon Cheng

*( https://www.saskatchewan.ca/business/investment-and-economic-development/key-economic-sectors/energy#:~:text=Saskatchewan%20is%20 he%20world%27s%20leading%20supplier%20of%20uranium,1%20in%2020%20homes%20in%20the%20United%20States.)

About Trench Metals Corp

Trench Metals Corp . is a mineral exploration company with a focus on uranium.The company creates value for its shareholders by engaging inpromising mineral exploration opportunities. Trench Metals' main goalis the advancement of various projects from discovery all the way toproduction. This vertically integrated strategy allows Trench Metalsto achieve exceptional shareholder value through the entire life cycleof the mining process.

Trench Metals Corp . has the right to acquire a 100-per-cent interest in twohighly prospective uranium project in Saskatchewan's Athabasca uraniumdistrict. The Higginson Lake uranium project covers an area ofapproximately 5,900 hectares and is 52 kilometres northeast of thetown of Stony Rapids, which is accessible by Highway 905 and 964. TheHigginson Lake uranium project hosts two historic drill-indicatedreserves, totalling 4.8 million lb of U308.* The Gorilla Lake uraniumproject comprises nearly 7,000 hectares in the Northern miningdistrict of Saskatchewan near the Shea Creek uranium deposit. TheAthabasca district is home to the highest grade of uranium deposits inthe world and accounts for 18 per cent of global uraniumproduction.

* Thehistorical mineral resource estimate presented above used categoriesthat do not conform to current Canadian Institute of Mining,Metallurgy and Petroleum Definition Standards on Mineral Resources andMineral Reserves as outlined in National Instrument 43-101. Aqualified person has not done sufficient work to classify thehistorical estimate as a current mineral resource and as such thecompany is treating them as historical resource estimates. Readers arecautioned that the historical mineral resource estimate do not mean orimply that economic deposits exist on the project.

Dr. Peter Born, PGeo, is the designated qualifiedperson as defined by National Instrument 43-101 and is responsiblefor, and has approved, the technical information contained in thisrelease.

For further information, contact the Company at info@trenchmetals.com , or visit theCompany’s website at www.trenchmetals.com .

On behalf of the Board,

Trench Metals Corp.

Simon Cheng, Chief Executive Officer

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws.  When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information.  These forward-lookingstatements or information may relate to the development of theHigginson Lake Uranium Project and other factors or information. Such statements represent the Company’s current views with respectto future events and are necessarily based upon a number ofassumptions and estimates that, while considered reasonable by theCompany, are inherently subject to significant business, economic,competitive, political and social risks, contingencies anduncertainties. Many factors, both known and unknown, could causeresults, performance, or achievements to be materially different fromthe results, performance or achievements that are or may be expressedor implied by such forward-looking statements. The Company does notintend, and does not assume any obligation, to update theseforward-looking statements or information to reflect changes inassumptions or changes in circumstances or any other events affectingsuch statements and information other than as required by applicablelaws, rules and regulations.

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