trigonmetals

TORONTO, Aug. 10, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to report assay results from an elementary exploratory drilling program at the Company’s Silver Hill copper-silver project (“the Project”) in Morocco (see table and figures below). The results reported are from exploratory drilling undertaken by Trigon’s acquisition target Technomine Africa SARL (“Technomine”), based on the local company’s knowledge of the area. A formal drill program is now being planned by Trigon, as more fully described below.

For the purposes of the latest preliminary drilling, Technomine had use of a small underpowered rig only capable of drilling shallow holes, of which three of the four reached the targeted mineralized structure, and two of the four ended in mineralization.  The recent results demonstrate good mineralization over a larger than expected horizon. To advance the project, Trigon will utilize these encouraging results to design and implement a full exploration program to required standards.

The latest results are highlighted by:

• S1 – Silver Hill Hole 1: intercepted 13.5 metres grading 71.5 g/t silver and 1.08% at 26.5 to 40 metres down the hole, drill core ended in mineralization. Within the drill intercept was 2.5 metres grading 266.6 g/t silver and 3.87% copper.

• S3 – Silver Hill Hole 3: intercepted 7.0 metres grading 48.6 g/t silver and 0.75% copper at 25 to 32 metres down the hole, the hole ended at 35.5 metres.  Within the drill intercept was 1.5 metres grading 122 g/t silver and 1.59% copper.
  
• S5 – Silver Hill Hole 5: intercepted 5.0 metres grading 18.9 g/t silver and 1.49% copper at 29 to 34 metres down the hole, drill core ended in mineralization.

Holes were drilled at a 70° angle and drill intercepts are presumed to represent true width of the structure. Silver Hill Hole S2 did not reach the mineralized layer. The hole reached a maximum depth of 36 metres.

Jed Richardson, President and CEO of Trigon Metals, said, “We are very pleased by these initial results from Silver Hill, which demonstrate that the high grade surface samples we initially received were indicative of the mineralization underneath, and show there are notable grades of silver and copper in the rock above and below the visibly mineralized layer. Particularly encouraging were certain results that showed very little visible mineralization but returned very high copper grades at the end of the hole, suggesting more mineralization may occur beyond the reach of the drill hole. In S1, the upper portions of the mineralized layer showed elevated grades of copper before silver grades increased as the hole went deeper. We are encouraged to test S4 and S6 – holes that were visibly similar but were not initially analyzed because time was limited for sample preparation.”

Table 1 – Silver Hill Drill Results

*ended in mineralization

As indicated above (see Table 1 – Silver Hill Drill Results), work has begun on site at Silver Hill for Trigon’s own program to test the extent of this mineralization. Trigon has planned drilling and systematic surface sampling to test the down dip extension of the mineralization delineated in this drilling, to test the relationship between the upper structure (focus of the reported drilling) and the two other structures identified in early surface sampling (see Figure 1 – Silver Hill Global Map), and connect the upper structure to what appears to be lateral extension, identified by ancient workings almost 1.5 km to 2 km away.

Figure 1 – Silver Hill Global Map

Figure 2 – Silver Hill Focused Area

 

Silver Hill Project Overview

The Silver Hill Project is a 16km² property in the Anti-Atlas region of Morocco.  The Project is located at a regional address well known for base metals occurrences in Morocco.  Morocco has a mining history that stretches over 100 years and is well known for being a mining friendly jurisdiction. Preliminary 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. As noted in the press release dated August 4, 2020, closing of the transaction is expected to occur shortly.

Qualified Person

The technical information presented in this press release has been reviewed and approved for disclosure 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 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 Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits where the Company is focused on exploration and re-development of the previously producing Kombat mine.  The Company is also currently finalising the acquisition of the Silver Hill project, a highly prospective copper and silver exploration project in Morocco.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the exploratory drill program at Silver Hill and the results thereof, the future exploration plans for Silver Hill, the prospectivity of the Project, the Company’s ability to explore and advance the Project, 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.

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 27^th 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.

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