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

Trigon Metals

Building A Mid-Tier African Copper Producer

2021

Trigon Metals Announces Appointment of Paul Bozoki as Chief Financial Officer

by

TORONTO, ON – December 29, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) today announces that it has appointed Paul Bozoki as Chief Financial Officer, effective immediately.

Mr. Bozoki is a Chartered Accountant and holds an MBA from the Richard Ivey School of Business with over 25 years of accounting, tax and corporate finance experience working with development stage companies and has been involved with projects in Zimbabwe, Mali, Mozambique and the Democratic Republic of Congo. From 2007 through September 2010, he was the Chief Financial Officer of CD Capital Partners, a privately held real estate development firm focused on developing mixed use retail and office real estate in Russia, Ukraine and Romania. Mr. Bozoki is experienced in matters of international taxation and foreign capital markets and began his career at Ernst & Young LLP where he spent six years auditing clients in mining and other industries in Canada, Australia and Hungary.

Paul Bozoki is a former CFO and CEO of Kombat Copper, having served as Company President and on its Board of Directors. Mr. Bozoki brings a wealth of financial and negotiating experience to the Company, which will greatly assist as the Kombat Mine moves forward to full production within the next year.

Jed Richardson, President, CEO and Director of Trigon Metals, commented: “The Board and Management of Trigon Metals are pleased to welcome Paul as our new CFO. Paul’s track record of responsible financial management of junior companies, coupled with his extensive experience in project funding and M&A will play a key role in our continued progress toward becoming a full-scale copper producer and explorer in mine-friendly African jurisdictions.”

Mr. Bozoki replaces Ms. Deborah Battiston, the former Chief Financial Officer of the Company. The management and board of directors of the Company would like to thank Ms. Battiston for her past service and her continued support of the Company.

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. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

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
+1 647 276 0002
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 appointment of a new CFO 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.

Trigon Metals Files NI 43-101 Technical Report and Feasibility Study on Kombat Mineral Reserve

by

TORONTO, ON – December 20, 2021 –  Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) has filed an updated National Instrument 43-101 compliant technical report supporting the Mineral Reserve estimate and feasibility study for the open pit mine at the Kombat project in Namibia (“Kombat”).

The updated Mineral Reserve estimate for the open pit is set out below.

Kombat Project Open Pit Mineral Reserve Estimation as at 3 August 2021

Mineral Reserve
Category		 Diluted Tonnes Grade Content
Cu Pb Ag Cu Pb Ag
Mt % % ppm t t kg
Probable 1.54 1.14 0.28 7.49 17,559 4,301 11,508
Total 1.54 1.14 0.28 7.49 17,559 4,301 11,508

Notes:

  1. The Mineral Reserve estimation includes only diluted Indicated Mineral Resources which have been converted to Probable Mineral Reserves.
  2. No Inferred Mineral Resources have been included in the Mineral Reserve estimation.
  3. Mineral Reserve estimation stated at a cut-off of 0.65% Cu.
  4. The Ore Reserve estimation was completed using an average Cu price of USD7,054/t and average Ag price of USD20.15/oz over the life of mine.
  5. The Pb in the Mineral Reserve estimation under current offtake agreement will not contribute to revenue but will carry a penalty.
  6. The Mineral Reserves are reported as total Mineral Reserves and are not attributed.

The Mineral Resource estimate for Kombat (open pit and underground) as updated on August 3, 2021 is set out in the table below.

Combined Mineral Resource Estimation (Open Pit and Underground) as at 3 August 2021

Mineral Resource Estimate Classification Tonnes Cu Pb Ag
Mt % % g/t
Indicated 12.22 1.94 0.70 13.67
Inferred 1.91 2.19 1.79 6.13

Notes:

  1. The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
  2. The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq.
  3. The CuEq (copper equivalent) is based on copper and silver only (excludes lead).
  4. Commodity prices used for the cut-off grades: Cu = USD 9,100/t, Pb = USD 2,500/t, and Ag = USD 27/oz.
  5. Historical mine voids have been depleted from the Mineral Resource.
  6. Mineral Resources are reported as total Mineral Resources and are not attributed.

The Indicated Mineral Resource estimate comprises 5.28Mt from the open pit, at a grade of 1.00% copper, and 6.93Mt from the underground at a grade of 2.66% copper.

The updated Mineral Reserve estimate has been prepared and classified by technical consultants Minxcon (Pty) Ltd (“Minxcon”) in accordance with the reporting guidelines as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by the Canadian Securities Administrators. For further information with respect to the key assumptions, parameters, risks, the mineral reserve estimate, data verification, quality assurance and quality control (“QA/QC”) and other technical information, please refer to the technical report.

The technical report titled “NI 43-101 Technical Report on the Kombat Project, Namibia” dated December 20, 2021, has been filed on the SEDAR website at www.sedar.com and on the Company website at www.trigonmetals.com.

Qualified Person

Mr. D van Heerden (B Eng (Min.), MCom (Bus. Admin.), MMC, Pr.Eng. No. 20050318, FSAIMM, AMMSA), Mr. U Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat., MGSSA), and Mr. NJ Odendaal (BSc (Geol.), BSc (Min. Econ.), MSc (Min. Eng.), Pr.Sci.Nat., FSAIMM, MGSSA) of Minxcon are all “qualified persons” as such term is defined in NI 43- 101 and CIM definition standards and have reviewed and approved the technical information and data included in this press release. Mr. van Heerden, Mr. Engelmann and Mr. Odendaal are considered independent of Trigon.

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. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Company’s Mineral Resources and Reserves, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat operations, the Company’s ability to restart the Kombat operations, the Company’s ability to obtain adequate investment and other financing, 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
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Metals Announces First Copper Flotation Successful at Kombat Processing Plant, Namibia

by

TORONTO, ON – December 20, 2021 – Trigon Metals Inc. (TSXV:TM) (OTC PINK:PNTZF) (“Trigon” or the “Company”) is pleased to announce that Friday, December 17th, 2021, marked the first flotation of copper concentrate at the newly refurbished Kombat Mill. In addition, all long lead items for the Kombat processing plant, as bought from Yantau Xinhai Industry & Trade Co., Ltd (“Xinhai”), have arrived in Namibia and have been transported to the mine for installation.

The refurbishment of the processing plant is now largely complete, and commissioning has commenced with the first successful float of copper concentrate. The Primary crusher is now fully operational, coarse ore bins are full, grinding is running in batches and flotation is being tested. The filter press for drying final concentrate for sale is currently being installed, and first concentrate will be produced ahead of the year end goal.

Commenting, Jed Richardson, President and CEO of Trigon, said, “We are extremely pleased to be installing the final major equipment items in the plant, and to be nearing the completion of the restart of the Kombat Mine. The year 2021 has been exciting for Trigon and the team at Kombat has managed the project well in terms of meeting timelines and budgets. We are looking forward to starting the new year as a producing mine, and to continuing our growth in 2022.”

About Kombat Mine

The Kombat Copper Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of Copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for Lead and Zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

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. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the restart of the Kombat Mine, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, 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
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Metals Reports Mineral Reserve and Updated Feasibility Study for the Kombat Open Pit

by

TORONTO, ON – December 14, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) announces an updated National Instrument 43-101 compliant Mineral Reserve estimate and feasibility study for the open pit mine at the Kombat project in Namibia (“Kombat”).

Kombat Open Pit Mineral Reserve Estimate

In 2018, the Company published a Mineral Reserve estimate for the Kombat open pit, together with a feasibility study on the open pit project. The Mineral Resource estimate for Kombat was updated in 2020 and again on August 3, 2021, based on the confirmatory resampling program undertaken in early 2021. At that time, as the updated Mineral Resource estimate differed from the estimate used for the 2018 feasibility study, the Company moved the Kombat open pit back to a Mineral Resource estimate stage, as the Mineral Reserves, technical, engineering and economic studies had to be redone to align with the updated Mineral Resources.

The Mineral Resource estimate for Kombat (open pit and underground) as updated on August 3, 2021 is set out in the table below.

Combined Mineral Resource Estimation (Open Pit and Underground) as at 3 August 2021

Mineral Resource Estimate Classification Tonnes
Cu Pb Ag
Mt % % g/t
Indicated 12.22 1.94 0.70 13.67
Inferred 1.91 2.19 1.79 6.13

Notes:

  1. The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
  2. The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq.
  3. The CuEq (copper equivalent) is based on copper and silver only (excludes lead).
  4. Commodity prices used for the cut-off grades: Cu = USD 9,100/t, Pb = USD 2,500/t, and Ag = USD 27/oz.
  5. Historical mine voids have been depleted from the Mineral Resource.
  6. Mineral Resources are reported as total Mineral Resources and are not attributed.

The Indicated Mineral Resource estimate comprises 5.28Mt from the open pit, at a grade of 1.00% copper, and 6.93Mt from the underground at a grade of 2.66% copper.

A new feasibility study has now been completed on the Kombat open pit, and an updated Mineral Reserve estimate for the open pit is set out below.

Kombat Project Open Pit Mineral Reserve Estimation as at 3 August 2021

Mineral Reserve
Category		 Diluted Tonnes Grade Content
Cu Pb Ag Cu Pb Ag
Mt % % ppm t t kg
Probable 1.54 1.14 0.28 7.49 17,559 4,301 11,508
Total 1.54 1.14 0.28 7.49 17,559 4,301 11,508

Notes:

  1. The Mineral Reserve estimation includes only diluted Indicated Mineral Resources which have been converted to Probable Mineral Reserves.
  2. No Inferred Mineral Resources have been included in the Mineral Reserve estimation.
  3. Mineral Reserve estimation stated at a cut-off of 0.65% Cu.
  4. The Ore Reserve estimation was completed using an average Cu price of USD7,054/t and average Ag price of USD20.15/oz over the life of mine.
  5. The Pb in the Mineral Reserve estimation under current offtake agreement will not contribute to revenue but will carry a penalty.
  6. The Mineral Reserves are reported as total Mineral Reserves and are not attributed.

As set out above, although the Kombat underground Mineral Resource estimate does contain resources in the Indicated category, only the open pit Mineral Resources have been considered in the Mineral Reserve conversion process at this stage, as the underground study work is still based on a Preliminary Economic Assessment level of confidence and requires additional work which will be undertaken as a second phase of the restart of the Kombat mine.

Feasibility Study

Production and Processing

The Kombat open pit mine has a potential life of mine of 5 years, mining a total of 1.5Mt ore, at an average grade of 1.14% copper and 7.49 g/t silver.

Item Unit Kombat
Open Pit Waste Tonnes Mined kt 10,488
Open Pit Ore Tonnes Mined kt 1,536
Stripping Ratio to:tw 6.83
Total Tonnes Mined kt 12,024
Average Cu Grade Mined % 1.14%
Average Ag Grade Mined g/t 7.49
Average Cu Recovery % 91.9%
Total 22% Cu Concentrate kt 73
LoM Years 5

Capital

The total start-up capital for the Kombat open pits, including the refurbishment of the plant, is USD10 million, including contingencies. All of the capital, excluding stay in business capital is spent in year 1, and the majority of this capital has already been spent in 2021 to date.

Capital Expenditure Unit LoM Year 1
Total Mining Capital USDm 0.58 0.58
Total Plant Capital USDm 10.82 9.01
Total Other Capital USDm 0.50 0.50
     
Total Direct Capital over LoM USDm 9.11 9.11
Total SIB Capital USDm 1.87 0.06
Total Capital Contingencies USDm 0.91 0.91
Total Combined Capital USDm 11.90 10.08

Revenue and Operating Costs

The table below summarises the turnover and costs from the open pit mine, per recovered copper equivalent pound.

Net Turnover USD/Copper Eq. lb 3.46
Mine Cost USD/Copper Eq. lb 1.21
Plant Costs USD/Copper Eq. lb 0.78
Other Costs USD/Copper Eq. lb 0.83
Direct Cash Costs (C1) USD/Copper Eq. lb 2.81
Capex USD/Copper Eq. lb 0.36
Production Costs (C2) USD/Copper Eq. lb 3.18
Royalties USD/Copper Eq. lb 0.10
Corporate Overheads USD/Copper Eq. lb –
Fully Allocated Costs (C3) USD/Copper Eq. lb 3.27
EBITDA* USD/Copper Eq. lb 0.55

Kombat Open Pit Restart

The restart of the open pit mine at Kombat is reaching its final stages, with open pit mining having resumed in October 2021, in order to produce run of mine for the commissioning of the processing plant in December 2021. The refurbishment of the plant is almost complete with long lead equipment items currently being installed. The project remains on track for first production of copper concentrate in early 2022.

Updated Production Guidance

The Company provides updated production forecasts based on the latest Mineral Resource and Reserve estimates for both the open pit and underground projects of 3,500 tons for 2022 (open pit only), increasing to 14,000 tons by 2024, with the re-commissioning of the underground mine and the doubling of the current capacity of the processing plant.

Jed Richardson, Trigon’s CEO, commented, “As we reach the culmination of the process to restart the open pit mine, we will now start focusing on the second phase of the Kombat project, being the re-opening of the historic higher grade, long life underground mine, which is where we see the significant potential for this project and for Trigon to grow into a mid-tier copper producer.”

The updated Mineral Reserve estimate has been prepared and classified by technical consultants Minxcon (Pty) Ltd (“Minxcon”) in accordance with the reporting guidelines as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by the Canadian Securities Administrators. For further information with respect to the key assumptions, parameters, risks, the mineral reserve estimate, data verification, quality assurance and quality control (“QA/QC”) and other technical information, please refer to the technical report.

A NI 43-101 technical report with respect to the Mineral Reserve estimate and Feasibility Study will be filed under the Company’s profile on SEDAR within 45 days of this press release.

Qualified Persons

Mr. D van Heerden (B Eng (Min.), MCom (Bus. Admin.), MMC, Pr.Eng. No. 20050318, FSAIMM, AMMSA), Mr. U Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat., MGSSA), and Mr. NJ Odendaal (BSc (Geol.), BSc (Min. Econ.), MSc (Min. Eng.), Pr.Sci.Nat., FSAIMM, MGSSA) of Minxcon are all “qualified persons” as such term is defined in NI 43- 101 and CIM definition standards and have reviewed and approved the technical information and data included in this press release. Mr. van Heerden, Mr. Engelmann and Mr. Odendaal are considered independent of Trigon.

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. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release contains information with respect to certain Non-GAAP measures. These measures are included because these statistics are key performance measures that management may use to monitor performance. Management may use these statistics in future to assess how the Company is performing to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

This news release may contain forward-looking statements. These statements include statements regarding the Company’s Mineral Resources and Reserves, Feasibility Study, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat operations, the Company’s ability to restart the Kombat operations, the Company’s ability to obtain adequate investment and other financing, the Company’s operations, the economic viability of mining at the Kombat Mine and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties including, without limitation, risks and uncertainties inherent to economic studies; risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Trigon common shares; insurance; competition; currency fluctuations; loss of key employees; uncertainties and risks inherent with doing business in a developing country, including, without limitation, war, corruption, terrorism, political instability and the uncertainty of the rule of law; and other risks of the mining industry. 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 filed at www.sedar.com from time to time. 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
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Metals Secures Land Leases In Namibia For Open Pit Expansion

by

TORONTO, ON – December 9, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into a lease agreement with local Namibian company, Kombat Village Properties (Pty) Ltd (“KVP”), for the lease of land in and around the Kombat Mine area (“the Lease Transaction”). Trigon requires the use of land around the Kombat Mine for the continued development of its open pit mining operations, including the establishment of the mine’s tailings facility. Construction of the tailings facility began in September 2021, and work is on schedule to coincide with start-up of ore processing by the end of 2021.

The total to be paid by Trigon to KVP will be C$1,961,606 for a lease period of the duration of the mining licences held by Trigon. Payable in three (3) cash tranches as follows:

  • On commencement of the lease: C$250,000;
  • On January 17, 2022: C$830,803; and
  • On July 18, 2022: C$830,803.

KVP will further receive 200,000 stock options to acquire 200,000 shares in Trigon at an exercise price of $0.46. The options will vest immediately and will be exercisable for a period of three years from date of issue. The grant of the options is subject to the approval of the TSX Venture Exchange (“TSXV”).

In connection with the Lease Transaction, Trigon has agreed to transfer a 10% equity interest in Trigon’s wholly owned subsidiary, Gazania Investments Nine (Proprietary) Limited (“Gazania”), valued at C$50,000 to Texel Mining and Exploration (Proprietary) Limited (“Texel”). Gazania holds the Copper King Extension ground surrounding the Kombat Mine, 35km of mineralized strike length in the Otavi valley. The transfer of the equity interest of Gazania to Texel remains subject to the approval of the TSXV.

Knowledge Katti of Kombat Village Properties, commented, “The imminent onset of ore processing during December 2021 represents an important milestone in the revival of economic activity for Kombat and its inhabitants as well as an important contributor to reposition Namibia as a prime global mining destination. The current commitment of all stakeholders at all levels to make the project a success will ensure ongoing momentum and the ultimate successful implementation of the project.”

Jed Richardson, President and CEO of Trigon, commented, “Following our exploration success in and around the open pit, controlling the land we need to grow is an important step. We see the town of Kombat, Kombat Village Properties and Knowledge Katti as important stakeholders in our efforts and this agreement helps to align our interests going forward. Tangible progress is being made on a daily basis at site, and plant commissioning remains on track for later this month.”

About Kombat Mine

The Kombat Copper Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of Copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for Lead and Zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

About Texel Mining and Exploration

Texel is the holder of a 10% interest in Trigon Mining (Namibia) (Proprietary) Limited (recently transferred from Havana Investments (Proprietary) Limited. Texel will now hold 10% in the Gazania Investments Nine, the holder of the Copper King Extension exploration ground. Mr. Knowledge Katti, is the sole proprietor of Texel, Havana Investments and Kombat Village Properties.

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. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the lease of land around the Kombat Mine, the restart of the Kombat Mine, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, 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
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Metals Strengthens Its Board of Directors with the Appointment of Mr. Gabriel Ollivier

by

TORONTO, ON – November 29, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to announce the election of Mr. Gabriel Ollivier to the Company’s Board of Directors, effective immediately.

Mr. Ollivier brings over 25 years of resource sector and capital markets experience, working both domestically in Canada and internationally in numerous countries. He currently leads Equus Energy Advisors Inc., a consulting practice based in Calgary, Alberta, and he is also currently the President and CEO of the oil company United Hydrocarbon International Corp.

Mr. Ollivier’s professional experience includes his role as President and CEO of the Nambian-based UNX Energy Corp, a company that was sold for $730 million in 2011. Mr. Ollivier also spent nine years in the Canadian investment banking industry working as a Managing Partner and Institutional Equity Salesman at Paradigm Capital, and as a Partner and Institutional Equity Salesman at Cormark Securities Inc. In the first decade of his career, Mr. Ollivier worked in various intermediate and ultimately senior-level capacities with various upstream companies, including Canadian Hunter Exploration Ltd., Crestar Energy Inc. and Murphy Oil Company Ltd.

Mr. Ollivier holds a Bachelor of Commerce degree and a Masters of Economics, both from the University of Calgary, and is also a Chartered Professional Accountant (“CPA”) and a Chartered Financial Analyst (“CFA”). He is an active volunteer and is currently the Chairman on the Board of Children Believe and a board member with the Childfund Alliance. He has previously held Board positions at notable charities and several public and private companies.

Mr. Gabriel Ollivier was elected to the Trigon board of directors at the Company’s Annual General Meeting held virtually on November 26, 2021 from Toronto. He fills the seat of Stephon Theron, following his resignation. We would like to thank Mr. Theron for his contributions to the Trigon as a director and former CEO of the Company. All other directors have been re-elected to the board for another term.

Jed Richardson, President and CEO of Trigon, commented, “I am pleased to welcome Gabriel to Trigon as a director. We value his wealth of experience and anticipate invaluable contributions to Company governance and beyond as we continue to advance our projects in Namibia and Morocco.”

In connection with the recent announcement, the Company has granted stock options in accordance with the Company’s stock option plan. Mr. Gabriel Ollivier will receive 350,000 options. The options have an exercise price of $0.45 and will expire five years from the date of grant. The options will vest immediately. The grant of options remains subject to the 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 and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the Company holds 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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Board of Directors and the annual general meeting; the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, 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
+1 647 276 0002
jed.richardson@trigonmetals.com