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

Trigon Metals

Exploring Copper and Silver in Africa’s Best Jurisdictions

2020

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

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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

Trigon Mining (Namibia) Awarded New Exclusive Prospecting Licence

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TORONTO, Feb. 10, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that Trigon Mining (Namibia) (Pty) Ltd (“Trigon Namibia”), Trigon’s 80% owned subsidiary, has been awarded a new Exclusive Prospecting Licence No. 7525 (“EPL 7525”) by the Ministry of Mines and Energy in Namibia.

EPL 7525 has been awarded to Trigon Namibia for a three year period, commencing on January 17, 2020, in respect of base and rare metals, industrial minerals and precious metals, subject to the terms and conditions of the Minerals (Mining and Prospecting) Act No. 33 of 1992 relating to exclusive prospecting licences.

EPL 7525 covers an area of 1,056.9964 hectares, situated to the west of Trigon Namibia’s Kombat Project and south of the Company’s Gross Otavi project, as set out in the diagram below.

Location of EPL 7525 in relation to Kombat
Location of EPL 7525 in relation to Kombat

The Kombat Project, comprising three of the Company’s five active mining licences, is located on the northern limb of the Otavi Valley Syncline, localized immediately below the contact between dolostones of the Hüttenberg Formation and phyllites of the overlying Kombat Formation of the Mulden Group.

A series of copper-lead deposits have been mined on the Kombat property, localized within the 200m wide vertical to sub-vertical Fracture Zone. This Fracture Zone and the lines of mineralized bodies cut the northern limb of the Otavi Syncline at an angle causing a shallow plunge to the west.  The extent and location of the Fracture Zone have been modelled from the data in the Kombat Project borehole database which contains nearly 700km of borehole data.

The Company believes that the area licenced under EPL 7525 holds significant upside potential for the Kombat project providing access to the area to the west of the Asis Far West shaft, where the geological model indicates there is potential for a westward extension of the Asis West mineralized zone.

The westward extension of the Fracture Zone into EPL 7525 was inferred from airborne magnetic data. EPL 7525 adds some 11km of Fracture Zone strike to the existing 7km of strike covered by the Kombat mining licenses. The shallow plunge westwards is expected to be mitigated by the commonly occurring transverse faults which, like the Kombat West Fault, have a vertical upwards component causing the Fracture Zone to be located closer to surface.

Jed Richardson, Chief Executive Officer of Trigon, commented: “We are extremely pleased to have been awarded this licence which supports our strategy of bringing the Kombat mine back into production and realizing the upside potential both within our existing mining licence areas and the surrounding region.  The new EPL presents exciting exploration opportunities for the project over the upcoming months, while we continue to drive our production restart.”

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 licenses are three past-producing mines including the Company’s flagship property, the Kombat Mine.

Website: www.trigonmetals.com

Qualified Person

Technical information in this news release has been reviewed and approved by Willem Kotze, P.Geo, BSc Hons (Geology), BSc Hons (Computer Science and Information Systems), Graduate Diploma in Eng., M.Eng (Mineral Resources), a “Qualified Person” as defined under National Instrument 43-101. As a consultant contracted by Trigon, Mr. Kotze is considered independent.

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding the Company’s exclusive prospecting licence and mining licences, the impact of obtaining EPL 7525, 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) accept responsibility for the adequacy or accuracy of this release.

For further information, contact: Jed Richardson +1 416 861 5893

XINHAI ADVANCES INVESTMENT AND EPC PROCESS

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Toronto, Canada – January 31, 2020 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to provide an update on the investment and engineering, procurement and construction (“EPC”) process with Shandong Xinhai Mining Technology & Equipment Inc. (“Xinhai”).

As announced on March 7, 2019, Trigon has entered into a non-binding Memorandum of Understanding (“MOU”) with Xinhai pursuant to which Xinhai has agreed to invest in Trigon, in exchange for the right to be appointed as the EPC contractor for the open pit mining operations at Trigon’s Kombat project in northern Namibia (“Kombat” or the “Project”).  Xinhai has agreed to invest up to 10% of the capital requirements of the Project by way of providing services in exchange for equity in Trigon and will further assist Trigon in securing up to an additional 80% of the capital requirements of the Project by way of debt financing through Chinese export credit facilities (the “Proposed Transaction”).

Xinhai has now completed an independent technical study on Kombat covering both mining and the upgrade of Kombat’s mineral processing plant (the “Xinhai Study”), which has been presented to a Chinese export credit agency.  The agency will further present the opportunity to potential lenders for debt financing.

The finalization by Xinhai of the Xinhai Study and its distribution to potential lenders is an important milestone in Trigon’s process to fund the restart of production at Kombat and will facilitate the raising of additional capital required.  Trigon continues to focus on raising a combination of both debt and equity in order to establish an optimal capital structure to take the Company forward.

The Proposed Transaction remains subject to any further evaluation required by Xinhai of the Project, the entering into of definitive agreements on terms and conditions satisfactory to both parties, obtaining of the necessary regulatory approvals and the approval of the boards of directors of both parties, as required.

Jed Richardson, Chief Executive Officer of Trigon, commented: “This milestone in Xinhai’s process is a critical step for Trigon in terms of our restart strategy for Kombat.  Our partnership with Xinhai goes from strength to strength and we continue to grow our relationship as we advance towards production.”

 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 licenses are three past producing mines including the Company’s flagship property, the Kombat Mine.

For further information, contact:

Jed Richardson

+1 416 861 5893

jed.richardson@trigonmetals.com

 Website: www.trigonmetals.com

Cautionary Notes   

This news release may contain forward-looking statements. These statements include statements regarding the Kombat operations, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s ability to restart the Kombat operations, the ability to complete the Proposed Transaction, 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.

 

Trigon Metals Closes Oversubscribed Private Placement Financing

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TORONTO, Jan. 08, 2020 – Trigon Metals Inc. (TM.V) (“Trigon” or the “Company”) has closed, on an oversubscribed basis, its previously announced non-brokered private placement financing (the “Offering”).  The Company issued 30,000,000 units (the “Units”) at a price of $0.12 per Unit for gross proceeds of $3,600,000.  Each Unit is comprised of one common share of Trigon (a “Share”) and one common share purchase warrant (a “Warrant”).  Each Warrant entitles the holder thereof to acquire one Share at a price of $0.20 for a period of 36 months following the closing date of the Offering.  The Offering was oversubscribed by $600,000.

The Company intends to use the net proceeds from the Offering for reviewing potential strategic acquisition opportunities and for working capital and general corporate purposes.

Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 16,666,666 Units under the Private Placement for a total consideration of $2,000,000. Prior to the Private Placement, Mr. Sprott owned 1,333,333 Shares. As a result of the Private Placement, Mr. Sprott beneficially owns or controls 17,999,999 Shares and 16,666,666 Warrants representing 19.99% of the issued and outstanding common shares of the Company on a non-diluted basis and 32.36% on a partially diluted basis.

The Units were acquired by Mr. Sprott, through 2176423 Ontario Ltd., for investment purposes. Mr. Sprott may acquire additional securities of Trigon including on the open market or through private acquisitions or he may sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors that Mr. Sprott considers relevant from time to time.

A copy of 2176423 Ontario Ltd.’s related early warning report will appear on the Company’s profile on SEDAR (www.sedar.com) and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

Jed Richardson, President and CEO of Trigon commented, “I would like to thank our investors for their ongoing support of the Company as we embark on a New Year. In 2020, we look forward to advancing our new copper initiative in mine-friendly Morocco, while also exploring its apparent silver potential. Likewise, we intend to continue developing our strategic plan for copper in Namibia. We anticipate these funds will play a key role in creating value for our shareholders.”

In connection with the closing of the Offering, the Company paid finder’s fees of $18,750 in cash and issued 187,450 non-transferable finder’s warrants (“Finder’s Warrants”).  Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.20 for a period of 36 months from the date of the closing of the Offering.

All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus one day which expires on May 9, 2020. Closing of the Offering remains subject to the final approval of the TSX Venture Exchange.

Trigon Metals Inc.

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

For further information, contact:

Jed Richardson
+1 416 861 5893
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Cautionary Notes

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.

This news release may contain forward-looking statements. These statements include statements regarding the Offering, the expected use of proceeds of the Offering 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.

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