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

Trigon Metals

Building A Mid-Tier African Copper Producer

2022

Year In Review 2022 | TSX.V: TM

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We’ve come to the end of 2022! It has been a big year for Trigon. In fact, the company is in a stronger position than ever.

We started this year announcing the first concentrates produced at the Kombat Mine in Namibia, after 14 years of closure. This is just one of Trigon’s achievements and milestones that would not be possible without your support.

In Morocco, we continued our exploration program identifying copper and silver grades with geophysics work and consolidated the land around our property to continue our drilling program.

As we plan for the New Year, we invite you to keep reading as we revisit some highlights of 2022 that stood out for Trigon Metals.

[button link=”http://bit.ly/3FLjC4H” bg_color=”#b8482c” window=”yes”]Year In Review 2022[/button]

A look forward to what is in store for 2023

Watch our last investor update video of the year with Trigon Metals’ CEO, Jed Richardson at Kombat Mine in Namibia.

On behalf of the Trigon team, we wish you a happy and healthy holiday season and a prosperous 2023.

 

 

 

Trigon Metals Announces Approval of Warrant Term Extension

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TORONTO / Dec 14, 2022 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces that, further to its November 29, 2022 press release (the “Original Press Release”), the TSX Venture Exchange has approved the extension of the exercise period of a total of 11,649,996 share purchase warrants, all of which are exercisable at $0.20 per common share (collectively, the “Warrants”) by 12 months to January 8, 2024. The Warrants were issued pursuant to a private placement which closed on January 8, 2020. All other terms and conditions of the Warrants remain unchanged. The Original Press Release contained a clerical error stating that there were 4,983,330 Warrants outstanding however there are 11,649,996 Warrants outstanding.

A total of 6,666,666 Warrants are held by a party who is considered to be a “related party” of the Company. Therefore, the amendment of the term of the Warrants constitutes a “related party transaction” as contemplated by Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines have been relied upon as the fair market value of the Warrants held by related part does not exceed 25% of the market capitalization 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.

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 Warrants, the expected use of proceeds of the Warrants 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 Announces AGM Results

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TORONTO–Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to report that the nominees listed in the management proxy circular dated November 8, 2022 for the annual and special meeting of shareholders of Trigon held on December 7, 2022 (the “Meeting”) were elected as directors of the Company. The appointment of each of the nominees to the Company’s board was approved by more than 96% of the votes cast at the Meeting. Shareholders at the Meeting also approved the appointment of the Company’s auditors, the Company’s stock option plan and the issuance of up to 2,500,000 common shares which could result in a new “Control Person”, as such term is defined in the policies of the TSX Venture Exchange.

Trigon management would like to thank shareholders for their participation and continuing support.

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

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements under Canadian securities legislation. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “budget”, “forecast”, “schedule”, “continue”, “estimate”, ”expect”, “project”, “predict”, “potential”, “target”, “intend”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved”.

Forward-looking statements are based on the opinions and estimates of management and certain qualified persons as of the date such statements are made. Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities 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.

Contacts

For further information, contact:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Closes Second Tranche Pursuant to Silver Streaming Deal

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Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has received the remaining US$21,800,000 pursuant to the terms of the definitive agreement (the “Stream Agreement”) with Sprott Private Resource Streaming and Royalty (B) Corp. and Sprott Mining Inc. (the “Transaction”). Please see the Company’s press release dated October 24, 2022 for further details regarding the Stream Agreement and the Transaction.

The proceeds from the Transaction will primarily be used to expand the plant capacity at the Kombat Mine located in Grootfontein, Otjozondjupa Region of Namibia to 60,000 tonnes per month and complete ongoing works to dewater the mine, develop the Asis West underground mine, and for general corporate and working capital 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.

Cautionary Notes

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements under Canadian securities legislation. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “budget”, “forecast”, “schedule”, “continue”, “estimate”, ”expect”, “project”, “predict”, “potential”, “target”, “intend”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved”. Such statements and assumptions include those relating to expected benefits of the Transaction; use of proceeds; timing of the issuance of the Pre-Paid Interest Shares; expectations with respect to the second tranche of the advance under the Stream Agreement; expected expansion of the Kombat mine and the benefits thereof; expected plant capacity; expectations with respect to funding the Company’s capital needs; expectations with respect to accelerating the feasibility study and development work; expectations with respect to the performance of our copper mine; silver prices expectations; exploration potential; strategy; development potential and timetable for the Company’s properties; the timing, success and amount of future exploration and development.

Forward-looking statements are based on the opinions and estimates of management and certain qualified persons as of the date such statements are made. Estimates regarding the anticipated timing, amount and cost of future exploration at the Company’s projects are based on management expectations considering previous industry experience, exploration done to date and recommended programs, historic expenditures incurred and other factors that are set out in the technical reports referred to. By their nature, forward-looking statements are subject to numerous known and unknown risks and uncertainties that could significantly affect anticipated results or the level of activity, performance or achievement in the future and, accordingly, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company is exposed to numerous operational, technical, financial and regulatory risks and uncertainties, many of which are beyond its control, that may significantly affect anticipated future results, including but not limited to, risks related to: there being no certainty that the Company will meet all conditions required for the receipt of the second tranche of the advance under the Stream Agreement; risks of recession; risks relating to COVID 19 and other potential pandemics; general geopolitical uncertainties affecting the economy and commodity prices; uncertainties inherent to economic studies, which rely on various assumptions; unexpected events and delays during construction and start-up; variations in mineral grade and recovery rates; uncertainties inherent in estimating Mineral Resources and Mineral Reserves; lack of revenues; revocation of government approvals; corruption and uncertainty with court systems and the rule of law and other foreign country risks inherent to the jurisdictions where the Company operates; availability of external financing on acceptable terms; exchange rates; ability to finalize required agreements for operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined; future mineral prices; failure of equipment or processes to operate as anticipated; accidents, labour or community disputes; other risk factors, including without limitation the risk factors described in our other continuous disclosure documents filed on SEDAR. Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities 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:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Trigon Announces Warrant Term Extension

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TORONTO–Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces that the Company intends to extend the exercise period of a total of 4,983,330 share purchase warrants, all of which are exercisable at $0.20 per common share (collectively, the “Warrants”). The Warrants were issued pursuant to a private placement which closed on January 8, 2020. The Company proposes to extend the expiry dates for these Warrants by an additional 12 months and accordingly, the new expiry dates for the Warrants will be January 8, 2024.

All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by 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

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 Warrants, the expected use of proceeds of the Warrants 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.

Contacts

For further information:

Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Trigon Reports New High Grade Drill Results at Growing New Zone at Kombat Mine, Namibia

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TORONTO —Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces results from the drilling of new mineralization targets at Kombat Mine in Namibia (the “Project”). These results are from the East 400 area, 150 metres east of the Kavango Pit, discussed in recent press releases (August 4, 2022 and September 15, 2022), extending the Kombat trend mineralization.

Highlights of the Drill Results

CenEast 00 (184.8 azimuth, -71.1 dip)

– 19m at 1.18%, from 64-83m
– 3m at 3.24% copper and 11.75 g/t silver, from 101-104m

Hole V01 (172.7 azimuth, -58.8 dip)

– 7m at 2.22% copper and 27.13 g/t silver, from 56-63m

Hole V03 (183.5 azimuth, -53.3 dip)

– 47m at 1.20% copper and 5.35 g/t silver, from 28-75m

The holes reported are from drilling testing gaps in the known mineralization previously thought to be barren. CenEast 00, V01 and V03 are verification holes testing continuity between areas previously drilled. The results are some of the longest intercepts drilled from surface and are consistently sulfide mineralization.

Jed Richardson, President and CEO, commented, “Drilling continues to intercept massive sulfide copper mineralization. Widths appear to be increasing and the continuity of the mineralization appears to be improving as we connect what were thought to be isolated zones. Wider continuous zones of mineralization are what is needed for lower costs and higher recoveries when open pit production is restarted. Higher grades, increased widths and a lack of oxidization show a marked improvement from the ore that was processed from the central pit earlier this year.”

Figure 1: Map of the East 400 Program Area. The CenEast 00 hole is east of the majority of the drilling that has been reported from this program in the area of the Kavango pit, initially disclosed in the press release dated May 17, 2022 . It lies between East 200 affectionately called the Fat Avocado and what was previously thought to be a separate body situated to the east.

Figure 1: Map of the East 400 Program Area

The CenEast hole is east of the majority of the drilling that has been reported from this program in the area of the Kavango pit, initially disclosed in the press release dated May 17, 2022. It lies between East 200 affectionately called the Fat Avocado and what was previously thought to be a separate body situated to the east.

Figure 2: Cross Section E400 Hole CenEast 00 and CenEast 00a. CenEast 00 hole intercepted a wide zone of mineralization filling in an area thought to be an unmineralized gap previously. Hole CenEast 00A has been drilled and assays are pending. This hole shows the mineralization may be more continuous than previously thought.

Figure 2: Cross Section E400 Hole CenEast 00 and CenEast 00a

CenEast 00 hole intercepted a wide zone of mineralization filling in an area thought to be an unmineralized gap previously. Hole CenEast 00A has been drilled and assays are pending. This hole shows the mineralization may be more continuous than previously thought.

Figure 3: Drill Core from CenEast 00. The core pictured in Figure 3 shows the clearly visible sulfide mineralization.

Figure 3: Drillcore from CenEast 00

The core pictured in Figure 3 shows the clearly visible sulfide mineralization.

Figure 4: Location of Holes V01 and V03 in East 400 Program Area. Verification holes V01 and V03 are in the heart of the East 400 mineralized zone discussed in previous Trigon press releases and should be considered infill holes confirming mineralization between holes previously drilled. The results reported here are notable because of the length of the intercepts above the projected reserve grade.

Figure 4: Location of Holes V01 and V03 in East 400 Program Area

Verification holes V01 and V03 are in the heart of the East 400 mineralized zone discussed in previous Trigon press releases and should be considered infill holes confirming mineralization between holes previously drilled. The results reported here are notable because of the length of the intercepts above the projected reserve grade.

Figure 5: Cross section E400 Hole V01. Hole V01 is a verification hole testing a zone between two areas of known mineralization, verifying the continuity.

Figure 5: Cross section E400 Hole V01

Hole V01 is a verification hole testing a zone between two areas of known mineralization, verifying the continuity.

Figure 6: Cross section E400 Hole V03. Hole V03 is another verification hole. It again tests an area outside of the known resource between two mineralized areas. The results represent one of the longer interceptions and shows mineralization almost right up to the contact between the dolomite host rock and the phyllite interior of the Otavi syncline the structural feature that defines the Kombat mineralization and the entire 35km trend controlled by Trigon.

Figure 6: Cross section E400 Hole V03

Hole V03 is another verification hole. It again tests an area outside of the known resource between two mineralized areas. The results represent one of the longer interceptions and shows mineralization almost right up to the contact between the dolomite host rock and the phyllite interior of the Otavi syncline the structural feature that defines the Kombat mineralization and the entire 35km trend controlled by Trigon.

Figure 7: Drillcore from E400 Hole V03. The Core pictured in Figure 7, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core

Figure 7: Drillcore from E400 Hole V03

The Core pictured in Figure 7, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core.

The assays have been prepared and classified by Trigon Mining (Namibia)(Pty)Ltd 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.

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. 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

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 Project, the mineralization of the Project, the Company’s exploration plans, the prospectivity of the 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) accept responsibility for the adequacy or accuracy of this release.

Contacts

For further information, contact:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com