Feb 21 (Reuters) - Trilogy Metals Inc TMQ.TO :
* TRILOGY METALS ANNOUNCES PRE-FEASIBILITY STUDY RESULTS AND RESERVES FOR THE ARCTIC PROJECT, ALASKA
* ARCTIC PFS STUDY SHOWS PRE-TAX NET PRESENT VALUE OF $1,935.2 MILLION CALCULATED AT BEGINNING OF 3-YEAR CONSTRUCTION PERIOD
* ARCTIC PFS STUDY SHOWS AFTER-TAX NPV(8%) OF $1,412.7 MILLION