March 31, 2026 – Toronto, Ontario – Trigon Metals Inc. (TSX-V: TM; OTCPK: PNTZF) (“ Trigon” or the “Company” ) is pleased to announce that it has received the first scheduled quarterly payment pursuant to the sale of its interest in the Kombat Mine and associated assets to Kamino Minerals Limited and Horizon Corporation Limited (the “Transaction”)in advance of the April 4, 2026 deadline. This payment marks the initial installment under the structured consideration framework outlined in prior Company disclosures (see press release dated December 23, 2025).
Under the terms of the Transaction, Trigon is to receive a series of eight quarterly payments over the agreed schedule, providing the Company with a steady, non-dilutive source of funding. In addition to these fixed payments, Trigon is expected to receive performance-based royalties and bonuses upon the successful restart of production at the Kombat Mine, further aligning long-term value creation with operational milestones.
Horizon Payment Schedule
| Milestone/Installment | Expected Timing | Payment Amount |
| First Installment | April 4, 2026 | US$3M (1/8 of total) |
| Installments 2-8 | Every 3 months thereafter | US$3M each (Total: 8 installments) |
| Additional Payments* | Dependent on copper price/mill expansion | US$3.5M – US$13M (Contingent) |
| Royalty Payments | Once production resumes | 1% Cu Net Smelter Return royalty for 20 quarters following restart |
* An additional follow-on bonus payment is required to be made by Horizon when underground production at the New Horizon Mine (formerly the Kombat Mine) achieves ore production and processing of ore containing 4,500t of contained copper over a 90-day period. The Production Payment amount will be between US$3,500,000 and US$13,000,000 and will be dependent on the price of copper.
| LME 3-month Cu price (USD/Tonne) at the close on the LME on the date preceding the Sprott trigger date | <9000($4.08/lb) | 9,000<10,000($4.08/lb-$4.54/lb) | >10,000($4.54/lb) | >15,000($6.80/lb) |
| Payment to the Company on the Copper Stream Step-Down Date | US$3,5 M | US$8M | US$13M | N/A |
| Payment to the Company on mill expansion to 1,500 tpd | 0 | 0 | 0 | US$8M |
| Payment to the Company on 1 st anniversary of mill expansion to 1,500 tpd (expedited scenario) | 0 | 0 | 0 | US$5M |
Jed Richardson, President and CEO of Trigon Metals, commented:
“The steady stream of capital from the sale of our interest in the Kombat Mine, provides non-dilutive financing for our Moroccan exploration. We are looking forward to the first results out of our district-scale silver-polymetallic Addana Project. We have completed camp set up and access is cleared to drilling sites at Addana. Geosond is on site with a drill rig, and we are excited to begin unlocking the potential of our highly prospective land package, as we pivot from Trigon Metals to Safi Silver.”
The Addana Project is situated within a geologically prospective region known for hosting significant polymetallic mineralization, including silver, copper, and associated metals. The current drilling campaign is designed to test priority targets identified through historical data compilation and recent fieldwork.
Trigon remains focused on disciplined capital allocation and value creation as it advances its Moroccan portfolio.
Qualified Person
Qualified Person The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Company’s “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Rompel is Trigon’s Chief Exploration Officer and is not considered to be independent of the Company.
Trigon Metals Inc.
Trigon Metals Inc. is a publicly traded Canadian exploration and development company with a core focus on copper and silver holdings in mining-friendly African jurisdictions. In Morocco, the Company is advancing two exploration projects: Addana , which hosts silver-bearing polymetallic veins, and Silver Hill , a sedimentary copper prospect undergoing ongoing evaluation. In Namibia, Trigon holds the Kalahari Copperbelt Project.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the timing and receipt of future payments from Horizon, the potential receipt of bonus payments tied to production at the Kombat Mine, the Company’s exploration plans at the Addana Project, the anticipated benefits of the Company’s strategic focus on its Moroccan silver projects, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
IR@trigonmetals.com
Website: www.trigonmetals.com
