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

Trigon Metals

Building A Mid-Tier African Copper Producer

2021

Trigon Metals Announces Private Placement Financing

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, ON – August 24, 2021 / Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) intends to complete a non-brokered private placement financing of up to 12,500,000 units (the “Units”) at a price of $0.40 per Unit for gross proceeds of up to $5,000,000 (the “Offering”). Each Unit will be comprised of one common share of Trigon (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.50 for a period of 24 months following the closing date of the Offering, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.75 or higher on the TSX Venture Exchange for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

Closing of the Offering is expected to occur on or about September 10, 2021 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. In connection with the Offering, a finder’s fee may be payable in line with the policies of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one-day.

The Company intends to use the net proceeds from the Offering for the recommencement of mining at the Kombat mine and for working capital and general corporate purposes.

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.

For further information, contact:

Jed Richardson
+1 647 276 6002
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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Trigon Metals Announces the Completion of Long Lead Orders from Xinhai for Kombat Mine Restart, Namibia

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TORONTO, ON – August 23, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) announces the completion of the manufacture of long lead equipment items for the Kombat processing plant by Yantai Xinhai Industry & Trade Co., Ltd (formerly Xinhai (Yantai) Mining Engineering Co., Ltd) (“Xinhai”).

As announced previously (see press release dated May 6, 2021), Trigon has procured various equipment items, including new flotation cells, from Xinhai. Completed items will be shipped from China to Namibia over the course of the next few weeks.

Other long lead orders from local Namibian and South African suppliers are also nearing completion, and various key plant components are expected to be delivered during August and September.

At the Kombat Mine, preparations are well advanced to receive and install the new equipment, and the project remains on track for commissioning of the plant by the end of the year.

Jed Richardson, President and CEO of Trigon, commented, “Our engineering team has made significant progress on the plant refurbishment to date and is ready to receive the new equipment. We have worked closely with Xinhai over the past few months, and we’re excited to see everything coming together as planned, on time and on budget.”

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 equipment for 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 Secures Power Supply for Kombat Mine Restart, Namibia

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TORONTO, ON – August 18, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce the signature of a Power Supply Agreement (“PSA”) with local power distributor, CENORED (Pty) Ltd (“CENORED”).

On August 13, 2021, representatives of Trigon attended a rebranding launch hosted by CENORED, at which the formal PSA between Trigon and CENORED was signed.

This follows an earlier agreement between the parties on the terms and conditions of the PSA and the payment by Trigon for the installation of the power supply, on which preliminary work has already commenced.

Jed Richardson, President and CEO of Trigon, commented, “CENORED has established themselves as a welcomed partner in our restart efforts at Trigon. The relationship between Trigon and CENORED began in April of this year with an agreement to install new power infrastructure, updating our grid connection, and electrifying the Kombat mine and mill. This new announcement gives us a formalized agreement that ensures a reliable and stable power supply for our foreseeable future at Kombat and extends power benefits separately to the people of Kombat Village.”

About CENORED

CENORED is the third licensed Regional Electricity Distribution Company to be established in Namibia, distributing power to three of Namibia’s fourteen legislative regions an area of approximately 120,000 square kilometres and 8,000 kilometres of line infrastructure. The CENORED distribution licence area covers the Oshikoto, Kunune and Otjozondjupa regions (where Kombat is situated).

CENORED recently launched its Strategic Business Plan where it places emphasis on supplying power to large commercial consumers such as Trigon.

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 power supply at Kombat, 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

SOURCE: Trigon Metals, Inc.

Trigon Advances Its Kombat Open Pit Restart with Appointment of Mining Contractor

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TORONTO, ON, August 11, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) announced today the appointment of Tulela Mining & Construction CC (“Tulela”) as the open pit mining contractor for its Kombat Mine in Namibia.

Trigon has signed an agreement with Tulela to commence with equipment mobilization and site establishment from August 2021, with open pit mining planned to commence by October 2021.

Tulela was selected by Trigon in for its extensive open pit operating experience in sub-Saharan Africa, and in particular its knowledge of the area in which the Kombat Mine is situated, being a locally Namibian owned and operated company.

Tulela provides mining and construction services and has historically been involved in operations at Vedanta Zinc International’s Skorpion Zinc mine in Namibia well as at Chingola in Zambia. The group also offers processing, engineering and logistics solutions, which enables Tulela to provide a full suite of services to its clients across the value chain. In support of Trigon’s emphasis on local employment creation, Tulela aims to employ operational staff from the immediate region. The management team of Tulela has extensive experience in open pit mining and underground mining. A brand new fleet of trucks and shovels is destined for this project to ensure that efficient production volumes will support the business plan.

Jed Richardson, President and CEO of Trigon, said, “The appointment of Tulela as our open pit mining contractor is a milestone in our move towards production. Activities at site continue to advance daily and we remain on track to achieve our target of production by the end of the year.”

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 appointment of a mining contractor, 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

SOURCE: Trigon Metals, Inc.

Trigon Metals Reports Significant Increase in Indicated Resources at Kombat Mine, Namibia

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Mr. Jed Richardson reports:

  • Indicated Copper Resources Up 113%
  • Indicated Silver Resources Up 2253%

TORONTO, ON – August 3, 2021 / Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) announces an updated NI 43-101 Mineral Resource estimate at the Kombat Mine in Namibia (“Kombat” or the “Project”). Combined open pit and underground Indicated Mineral Resources estimates have risen to 12.2 million tonnes at 1.94% copper, 13.65 g/t silver and 0.70% lead, as compared to thestrictly open pit Indicated Mineral Resource estimate of 7.35 million tonnes at 0.91% copper, 0.58g/t silver and 0.88% lead announced (see press release dated October 29, 2020).

Jed Richardson, President and CEO of Trigon, said, “We have our permits, we have our team, and now we have our resource. Our indicated tonnage increased 66% from our previous Mineral Resource estimates. Our copper tonnage by 113% and silver has increased by 2,253%. We have successfully increased the quality of our resources by all measures, despite stricter cut-off grades by exhibiting the importance of the underground resource. We remain on track for first production and concentrate shipment by the end of the year.”

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

Area Mineral Resource Estimate Classification Tonnes Cu Pb Ag
Mt % % g/t
Total Indicated 12.25 1.94 0.70 13.65
Inferred 1.91 2.19 1.79 6.13

Note:

  1. The open pit Mineral Resource is based on 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, 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.

Open Pit Mineral Resource Estimate [CuEq Cut-off 0.65% (Pb not incl.)] as at August 3, 2021

Area Mineral Resource Estimate Classification Tonnes Cu Pb Ag
Mt % % g/t
Kombat East Indicated 2.93 0.96 0.54 5.93
Kombat Central 2.38 1.05 0.21 6.57
Total Indicated 5.32 1.00 0.39 6.22
Otavi Inferred 0.64 0.93 2.50 0.85
Total Inferred 0.64 0.93 2.50 0.85

Note:

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

Underground Mineral Resource Estimate [CuEq Cut-off 1.50% (Pb not incl.)] as at August 3, 2021

Area Mineral Resource Estimate Classification Tonnes Cu Pb Ag
Mt % % g/t
Kombat East Indicated 0.10 1.69 1.55 11.50
Kombat Central 0.23 1.90 1.55 19.80
Kombat West 0.76 2.27 1.45 13.04
Asis West 5.53 2.79 0.87 20.78
Gap 0.32 2.25 0.18 11.58
Total Indicated 6.93 2.66 0.94 19.34
Kombat Central Inferred 0.01 2.02 2.74 0.01
Kombat West 0.13 5.01 10.53 0.06
Asis West 0.09 2.90 0.84 16.12
Gap 0.00 2.51 0.27 55.40
Asis Far West 1.04 2.55 0.36 9.11
Total Inferred 1.27 2.82 1.43 8.80

Note:

  1. The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq.
  2. The CuEq (copper equivalent) is based on copper and silver only (excludes lead).
  3. Commodity prices used for the cut-off grades: Cu = USD 9,100/t, and Ag = USD 27/oz.
  4. Historical mine voids have been depleted from the Mineral Resource.
  5. Mineral Resources are reported as total Mineral Resources and are not attributed.

The updated Mineral Resource estimate is the culmination of 18 months of work, first mapping historical drilling and historic mine production in three dimensions, and the re-logging and assaying of 50 years of stored drill core. Work was able to confirm historic assay results for copper, and assay silver for the first time, converting 86.5% of the global resource to Measured and Indicated confidence level of an NI 43-101 Mineral Resource estimate.

The Company used stricter criteria for calculating cut-off grades and removed the influence of lead when calculating the copper equivalent cut-off given the abundance of copper and silver mineralization, and the focus on profitable and sustainable production. The new criteria has the impact of increasing the copper grade in the open pit and limiting what qualifies as tonnes of estimated Mineral Resources. The result is a robust open pit and underground Mineral Resource estimate that is projected to deliver more than 20 years at planned production levels. Initially, lead will not be recovered when the open pit mining recommences as the preference is optimize the recovery of copper and silver, which are far more valuable throughout the mine-life.

The presentation of these Mineral Resource estimates marks the first comprehensive estimation of silver grades at Kombat, generating an in situ Indicated Mineral Resource estimate of 5.3 million ounces of silver, a by-product to the contained 482 million pounds of in situ copper. Metallurgical testing and anticipated mine dilution provide for an estimated copper recovery of 85% and a silver recovery of 88%.

The Mineral Resource Estimates were prepared and classified by Minxcon in accordance with the reporting guidelines as required by the Canadian Securities Administrators. The Qualified Person responsible for the declaration of the Mineral Resource Estimation is Mr. Uwe Engelman BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. Reg. No. 400058/08, MGSSA, who is a “qualified person” as such term is defined in NI 43- 101 and CIM definition standards.

A NI 43-101 technical report with respect to the updated Mineral Resource estimate at the Project will be filed under the Company’s profile on SEDAR within 45 days of this press release.

The Company does not currently have a feasibility study in respect of the underground portions of the Kombat Mine and production restart activities underground are based on internal management forecasts.

Qualified Person

Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA) of Minxcon, is a “qualified person” as such term is defined in NI 43-101 and has reviewed and approved the technical information and data included in this press release. Mr. Engelmann is considered independent of Trigon.

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 Mineral Resource at Kombat and the potential mineralization of the Project; 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 Provides Progress Update on the Restart of its Kombat Mine

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*Plan On Schedule And On Budget*

TORONTO, ON, July 26, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to provide an update on the progress of the various projects related to the restart of its Kombat Mine in Namibia, where open pit mining is planned to recommence in late 2021.

The Company is targeting initial production of 4,000t of copper in concentrate for the 2022 calendar year, by accessing ore from the open pit. Planned production is expected to increase to 14,500t of copper in concentrate in 2024, when higher grade underground ore will be accessed and the proposed upgrades to crushing and milling equipment are incorporated.

Onsite Activities

In May 2021, the Company announced the procurement of long lead items for the restart of the Kombat Mine, including an order to Xinhai (Yantai) Mining Engineering Co., Ltd for the procurement of new flotation cells. The manufacture of all long lead items is now well underway and shipping from China is anticipated during August 2021. Other long lead plant items have been ordered locally from Namibian and South African suppliers, and delivery of various key equipment items is planned for September and October 2021.

At the Kombat Mine, the preparation of the processing plant for the arrival of the new equipment is progressing well, with local contractors stripping old components from the plant and upgrading existing useable components and structures. The previously operational mine has significant office, workshop and other infrastructure already in place, this has been refurbished by local contractors. The use of this existing infrastructure has resulted in material cost savings for the Company in terms of its establishment capital.

Progress is also well underway on the construction of the new tailings storage facility (“TSF”), with the selected area having been cleared and now ready for next phase.

The Company has also made payment in full for the installation of a 2.5 MVA power supply to the mine and work on this installation will commence in due course.

Commenting, Jed Richardson, President and CEO of Trigon, said, “We are extremely pleased with the progress we have made at Kombat over the past few months. It has been exciting to see the site come alive with activity after many years on care and maintenance, and we are on track with both our timelines and budget as we target production by the end of this year. At current copper prices, the mine will create significant shareholder value; additionally, we are very positive about the long-term copper price and if it does continue to strengthen, the Kombat Mine provides strong leverage for long term gains for shareholders.”

Approximately 80 contractors are currently on site working on the plant, offices and TSF establishment.

Trigon has appointed a senior management team at Kombat in addition to other key positions required at this stage of the restart process, such as a Health and Safety officer. Further appointments will be made by both the Company and the mining contractor over the next few months as the Company advances towards production.

NI 43-101 Mineral Resource Estimate Update and Mining

In early 2021, subsequent to the update of the Kombat mineral resource estimate in September 2020, Trigon undertook a resampling program on core retained from historic drilling of the Kombat area. Results of this program are currently being analyzed and modelled by the Company’s technical consultants, Minxcon (Pty) Ltd, and the updated NI 43-101 compliant mineral resource estimate will be published once available. An updated feasibility study including a life of mine plan for the open pit will be undertaken once the updated Mineral Resource has been completed.

Open pit mining will be outsourced to a local contractor, and the Company is in final stages of contract negotiations with the selected contractor. Contractor equipment mobilization and site establishment is scheduled to start in August 2021.

Concentrate Purchaser Financing

The Company is in advanced stage discussions with a metal trading group for both a financing facility and concentrate offtake once the Kombat Mine is in production. Final terms are subject to due diligence and internal approvals by the metal trader and will be announced in due course.

About Kombat Mine

The Kombat 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.

Qualified Person

Mr. Uwe Engelmann(BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA) of Minxcon, is a “qualified person” as such term is defined in NI 43-101 and has reviewed and approved the technical information and data included in this press release. As a director of Minxcon, Mr. Engelmann is considered independent.

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 ability to obtain adequate financing, the Company’s ability to build the requisite infrastructure at the Kombat Mine, the Company’s ability to obtain the requisite equipment, 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