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TSX-V: TM | FRA: TZU2 | OTCQB: PNTZF

Trigon Metals

Trigon Metals

Building A Mid-Tier African Copper Producer

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trigonmetals

Trigon Metals: Agreement Extended to Acquire the ‘Silver Hill’ Copper-Silver Exploration Project in Morocco: Environmental Permit Received

4 August 2020 by trigonmetals

TORONTO, Aug. 04, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has signed an amendment to extend the share purchase agreement dated as of May 25, 2020 (the “Definitive Agreement”), pursuant to which it is to acquire a 100% equity interest in Technomine Africa SARL (“Technomine”), (the “Transaction”). Technomine is a Moroccan company that owns a 100% interest in the Silver Hill Project (“Silver Hill” or the “Project”) located in the Anti-Atlas region of Morocco. The Definitive Agreement was set to expire on July 31, 2020, as Trigon and Technomine await regulatory approvals necessary for the completion of the Transaction.

Approvals and title transfers required prior to the completion of the Transaction have taken longer than usual as a result of backlogs in Morocco created by the COVID-19 global pandemic. Nevertheless, the Company is pleased to report the administrative item responsible for the delay, the mining licence, was finally signed on July 29, 2020, validating the permit for the next eight years (until December 2028). Final closing should occur shortly.

The Company is also pleased to announce that the regulatory delay has not slowed work on the Project, and the Trigon team has been working on site since intercity travel restrictions were first lifted in early June. First exploration results from Silver Hill are expected soon, as samples have been received in Vancouver on July 27th and the Company expects to be in a position to report results once assays are completed.

Building on the good work completed by Technomine, on May 21, 2020, the environmental permit was granted by local investment authorities for the exploration, exploitation and treatment of copper and silver metal for a period of five years. This is advanced permit that included community consultation, plans for dust suppression and handling of explosives despite the Project’s early stage.  This permit grants the environmental approvals to take the Project through to production.

Silver Hill Project Overview

The Transaction is centred around the Silver Hill Project (see press release dated November 19, 2019), a 16km2 property in the Anti-Atlas region of Morocco, already home to Africa’s major silver mines (Imiter, Zgounder). Surface exploration shows copper and silver mineralization at high grades distributed over a wide surface area. Slags from ancient workings indicate historical large-scale mining for silver.

Morocco is a favourable jurisdiction for mining, with an established industry producing at a rate of approximately 40 million tonnes of minerals per year. The country is a friendly business environment with a strong mining history, but very little systematic modern exploration.

Terms of the Transaction

Under the terms of the Definitive Agreement, the Company will acquire a 100% equity interest in Technomine, the owner of the Project.  As consideration, Trigon must pay to Technomine shareholders (the “Vendors”) CAD $500,000 in cash and issue 6,000,000 common shares on closing of the Transaction (the “First Payment”). On the one-year anniversary of the closing of the Transaction, Trigon must pay to the Vendors CAD $400,000, and issue such number of Trigon common shares equal to CAD $250,000 (the “Second Payment”).

Furthermore, pursuant to the terms of the Definitive Agreement, upon the completion of an independent National Instrument 43-101 compliant mineral resource estimate on the Project showing at least 100,000 tonnes of contained copper and/or equivalent, Trigon shall issue such number of shares equal to CAD$1,250,000 to the Vendors.

In addition, a finder’s fee of 5% of the cash and share consideration paid to the Vendors pursuant to the First Payment and the Second Payment must be paid in cash and shares by Trigon to Majilias Inc., an arm’s length person. The finder’s fee shall be paid concurrently with the payments to the Vendors, as described above.

The Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange.  All parties to the transaction operate at arm’s length from one another.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Definitive Agreement, the Company’s ability to obtain adequate financing, the Company’s ability to close the Transaction, the prospectivity of the Project, the Company’s ability to explore the Project and produce a NI 43-101 mineral resource estimate, the impact of COVID-19 on the Company’s operations, the Company’s strategies and the Company’s abilities to execute such strategies, 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.

Filed Under: 2020, News Tagged With: news, press releases, 2020

Trigon Metals Announces Relocation of Corporate Headquarters

14 July 2020 by trigonmetals

TORONTO, July 14, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces today that it has relocated its registered head office to 130 Queens Quay East, Suite 1224, Toronto, Ontario M5A 0P6, Canada from 65 Queen Street West, Toronto, Ontario.

The Company has also terminated its consulting agreements with Forbes & Manhattan, Inc.

Jed Richardson, CEO of Trigon Metals Inc. commented, “These changes mark a significant milestone for Trigon as the company grows and advances our Silver and Copper projects in Morocco and Namibia. We look forward to new opportunities to the benefit of shareholders and employees as we begin a new chapter as a company.”

New Office Address (effective immediately)
130 Queens Quay East
Suite 1224
Toronto, Ontario M5A 0P6
Canada

Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. Namibia is one of the world’s most prospective copper regions, where Trigon has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Notes  
This news release may contain forward-looking statements. These statements include statements regarding the Company’s operations, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s ability to restart the Kombat operations, the Company’s expectations for the Kombat operations, 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:
Jed Richardson
+1 416 566 8134

Website: www.trigonmetals.com

Filed Under: 2020, News Tagged With: news, press releases, 2020

Trigon Metals Signs Definitive Agreement to Acquire the High Potential ‘Silver Hill’ Copper-Silver Exploration Project in Morocco

26 May 2020 by trigonmetals

TORONTO, May 26, 2020 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into a share purchase agreement (the “Definitive Agreement”) dated as of May 25, 2020 to acquire a 100% equity interest in Technomine Africa S.A.R.L. (“Technomine”), a Moroccan company (the “Transaction”) from Technomine’s shareholders (the “Vendors”). Technomine owns a 100% interest in the Silver Hill Project (“Silver Hill” or the “Project”) in Morocco.

The terms of the non-binding Memorandum of Understanding (“MOU”) to acquire the Project were announced on November 19, 2019. The Silver Hill Transaction is part of the Company’s continued focus to strategically acquire and develop copper properties in favourable African mining jurisdictions.

Jed Richardson, President and CEO of Trigon Metals commented, “In a world recovering from COVID, the acquisition of the Silver Hill property has added importance. The value of silver as a precious metal and store of value cannot be over emphasized in the face of government stimulus around the world. That said, we are in the midst of a structural shift that should see the world seeking to diversify its supply chains from reliance on China for manufacturing, and copper should see extraordinary demand when the world economy emerges on the other side of this crisis.”

Silver Hill Project Overview

The Transaction is centred around the Silver Hill Project (see press release dated November 19, 2019), a 16km2 property in the Anti-Atlas region of Morocco, already home to Africa’s major silver mines (Imiter, Zgounder). Surface exploration shows copper and silver mineralization at high grades distributed over a wide surface area. Slags from ancient workings indicate historical large scale mining for silver.

Morocco is a favourable jurisdiction for mining, with an established industry producing at a rate of approximately 40 million tonnes of minerals per year. The country is a friendly business environment with a strong mining history, but very little systematic modern exploration.

Response to COVID-19 in Morocco

Trigon does not anticipate any delays to initializing its exploration program at Silver Hill as a result of COVID-19. The local team is ready to commence work on the Project once nationwide lockdown measures restricting non-essential gatherings and outings are lifted on June 10, 2020. Morocco continues to comply with the recommendations of the World Health Organization to reduce the spread of the virus.

Terms of the Transaction

Under the terms of the Definitive Agreement, the Company will acquire a 100% equity interest in Technomine. Technomine owns 100% of the rights to the Silver Hill Project.  As consideration, Trigon must pay to the Vendors CAD $500,000 in cash and issue 6,000,000 common shares on closing of the Transaction (the “First Payment”). On the one-year anniversary of the closing of the Transaction, Trigon must pay to the Vendors CAD$400,000, and issue such number of Trigon common shares equal to CAD $250,000 (the “Second Payment”).

Upon the completion of an independent National Instrument 43-101 compliant mineral resource estimate at the Project showing at least 100,000 tonnes of contained copper and/or equivalent, Trigon shall issue such number of shares equal to CAD$1,250,000 to the Vendors.

In addition, a finder’s fee of 5% of the cash and share consideration paid to the Vendors pursuant to the First Payment and the Second Payment must be paid in cash by Trigon to Majilias Inc. (the “Finder”), an arm’s length person. The finder’s fee shall be paid concurrently with the payments to the Vendors, as described above.

The Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. All parties to the transaction operate at arm’s length from one another.

Qualified Person

The technical information presented in this press release has been reviewed and approved by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.

Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding investment in and financing for the Company and the Kombat operations, the Definitive Agreement, the Company’s ability to obtain adequate financing, the Company’s ability to close the Transaction, the prospectivity of the Project, the Company’s ability to explore the Project and produce a NI 43-101 mineral resource estimate, the impact of COVID-19 on the Company’s operations,  the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s ability to restart the Kombat operations, the Company’s expectations for the Kombat operations, 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.

Filed Under: News Tagged With: news, press releases, 2020

Q1 2020 – MD&A

1 April 2020 by trigonmetals

[embeddoc url=”https://www.trigonmetals.com/wp-content/uploads/March-20-MDA.pdf” viewer=”google”]

Filed Under: News

Q1 2020 – Financial Statements

1 April 2020 by trigonmetals

[embeddoc url=”https://www.trigonmetals.com/wp-content/uploads/March-2020.pdf” viewer=”google”]

Filed Under: News

Trigon Extends Agreement to Acquire High Potential ‘Silver Hill’ Copper and Silver Project for Three Months

3 March 2020 by trigonmetals

TORONTO, March 03, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has signed an amendment to its previously announced (see Trigon’s news release dated November 19, 2019) Memorandum of Understanding (“Amendment” or the “Extension”) to acquire a 100% interest in the Silver Hill Project (“Silver Hill” or the “Project”) in Morocco (the “Proposed Transaction”.)

‘Silver Hill’ refers to a 16km2 exploration project in the Anti-Atlas region of Morocco. Early basic surface exploration shows copper and silver mineralization at high grades distributed over a wide surface area.

The Amendment extends, by an additional three months, the period within which Trigon must negotiate and enter into a definitive agreement, having a new expiration date of May 19, 2020.

To date, the Company has completed a number of key requirements, including, but not limited to a management site visit in January 2020 and the completion of Trigon’s due diligence review of the Project. The team is presently preparing a National Instrument 43-101 compliant technical report on the Silver Hill property.

Jed Richardson, president and CEO of Trigon, commented: “Silver Hill is generating much excitement at Trigon. We are eager to begin our exploration work at the project. Ancient workings indicate a large mineralized area, and analysis of the slags suggest that historic mining here may have been focused on silver rather than copper. We look forward to continued business in mine-friendly Morocco as we close the Proposed Transaction and grow Trigon’s portfolio to the benefit of our valued shareholders.”

The Proposed Transaction is subject to further due diligence by Trigon, the parties negotiating and entering into a definitive agreement and obtaining of the necessary regulatory approvals, including approval of the TSX Venture Exchange.

Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The Company continues to hold an 80% interest in five mining licenses in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Notes  
This news release may contain forward-looking statements. These statements include statements regarding investment in and financing for the Company and the Kombat operations, the Amendment,, the Company’s ability to obtain adequate financing, the Company’s ability to closed the Proposed Transaction, the prospectivity of the Project, the Company’s ability to explore the Project and produce a NI 43-101 mineral resource estimate, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s ability to restart the Kombat operations, the Company’s expectations for the Kombat operations, 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: Jed Richardson +1 416 861 5893 Website: www.trigonmetals.com

Filed Under: 2020, News Tagged With: news, press releases, 2020

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