Trend Mining Company (fka TRDM)

[MWM]

Diabase Peninsula Lease

Diabase Peninsula, Cree Lake Area, Saskatchewan, Canada
On September 15, 2004, the Company diversified into uranium exploration with the staking of a mining claim comprising approximately 940 hectares (approximately 4 square miles) at Cree Lake in the Athabasca Basin of Saskatchewan.


In October 2004, the Company signed an option to purchase an additional mining claim at Cree Lake which covers 1681 hectares (approximately 6.5 square miles) and is located immediately adjacent to, and southwest of, the first Cree Lake claim. This option agreement is referred to herein as the Diabase Peninsula Lease.


Terms of the Diabase Peninsula Lease require Trend to maintain the claim group in good standing by performing a minimum of approximately CDN $20,172 worth of field work per year. In addition, payments to the lessor of CDN $15,000, $20,000, and $30,000, respectively, were made in each of the first three years. Trend has an option to purchase the claims for CDN $11 million any time through September 2012, at which time the property remains subject to a 3% gross royalty on any and all minerals produced.


Subsequent to the acquisition of the Diabase Peninsula Lease, Trend staked one more claim on the southwestern edge of the lease for an additional 1603 hectares (6.2 square miles), such that the aggregate area of Trend’s uranium claims in the Athabasca Basin totals 4224 hectares (16.7 square miles).


In December 2004, Trend announced that it and Nuinsco Resources Limited (“Nuinsco”) signed a Letter of Intent to form a 50-50 joint venture to own, operate and explore the three Cree Lake/Diabase Peninsula claims. Pursuant to the Letter of Intent Nuinsco conducted, at its expense, an exploration program consisting of geophysical surveys and geochemical sampling followed by drilling. A definitive joint venture agreement was executed on September 29, 2005. Under the terms of the joint venture agreement, Nuinsco must maintain all three claims in good standing, including the performance of the minimum annual filed work required by the Diabase Peninsula Lease, and will earn a 50% interest in the claims upon spending CDN $1 million prior to December of 2007. The spending requirement was satisfied in May of 2006, and accordingly, Trend and Nuinsco became 50-50 owners of the claims at that time. Since then, Trend has declined to fund its 50% share of continuing exploration expenditures and as a result, the Company’s ownership had been diluted to approximately 30% as of September 30, 2006. In the future, if Nuinsco takes the project into the development stage, Trend will have a one time opportunity to regain its 50% interest by repaying the expenditures it otherwise would have made plus paying a 40% penalty.


Additionally, to offset Trend’s payments made to the lessor, and per terms of the agreement with Nuinsco, during the quarter ended June 30, 2006, Nuinsco granted to the Company 212,500 freely trading shares of Nuinsco common stock.

Trend's Diabase Peninsula Ranks Second in Race for Next Uranium Super Deposit
DENVER, Nov. 14, 2006 (PRIMEZONE) -- Trend Mining Company (OTCBB:TRDM) (www.trendmining.com) is pleased to report that the Northern Prospector magazine (November 2006) names Trend's Diabase Peninsula uranium exploration project second in the race to find the next uranium "Super Deposit" in Saskatchewan's Athabasca Basin. Diabase Peninsula was one of only two of 15 uranium projects that ranked in all seven "key criteria" used by the Northern Prospector to determine which projects have potential for a "super deposit find."

The Northern Prospector identified seven key criteria in evaluating a uranium prospect: proximity to an existing mine, depth to basement, faults/structure, proven graphitic conductors, alteration, zones of elevated uranium, and uranium spikes near the unconformity. Diabase Peninsula received good marks across the board, and was ranked first overall in the faults/structure category. According to the Northern Prospector: "Offset faults are a prime home for high-grade deposits. Drill results should confirm the existence of faulting and graphite. (Cameco's) McArthur River deposit is tucked within a 70 meter offset fault similar to the one interpreted at Diabase Peninsula." The full article is being posted to Trend's website.

Thomas Loucks, CEO of Trend, noted, "The Northern Prospector article highlights the key parameters explorationists use to rank unconformity-type uranium projects, and we are extremely pleased that the Nuinsco (Trend's partner and operator of the project) program is identifying these factors."

The 21,900 hectare Diabase Peninsula Property encompasses coincident, highly prospective alteration and geophysical signatures which are believed to be favorable indicators for possible uranium mineralization. The property is located on the western shore of Cree Lake approximately five kilometres north of the southern boundary of the Athabasca Basin where sedimentary cover is relatively thin at 300 to 400 meters. The Diabase Peninsula property overlies the graphite-bearing Cable Bay Shear Zone which could be an important structure for controlling potential mineralization in this part of the basin.

Trend Mining Company is a diversified, U.S.-based minerals company that offers investors exposure and leverage to discovery of base and precious metals and uranium. Trend's properties include its royalty interest in the Andacollo gold mine in Chile, along with a compelling portfolio of PGM, base metal, and uranium exploration projects in the United States and Canada. Trend stock trades on the OTC Bulletin Board (OTCBB:TRDM).

Throughout this press release there are forward looking statements and assumptions made by management within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by those sections. Factors that could cause results to differ materially from those projected are, but not limited to, adverse price fluctuations of underlying metals, the company's ability to acquire and develop properties, competition from larger more established companies, the ability to finance future acquisitions and projects, and governmental regulation. Trend Mining Company believes that the projects it has entered into and those it will enter into show promise, but there can be no guarantee of that. This press release is for informational purposes only and should not be construed as an offer to solicit, buy, or sell any security.

CONTACT: Trend Mining Company
Thomas Loucks, President & CEO
[phone]