News

TORONTO – September 20, 2023 – Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces that the TSX Venture Exchange has approved the Company’s application to extend the term of (i) 3,781,250 common share purchase warrants previously set to expire on September 20, 2023 with an exercise price of $0.50, (ii) 6,889,499 common share purchase warrants previously set to expire on September 24, 2023 with an exercise price of $0.45, and (iii) 735,999 common share purchase warrants previously set to expire on October 8, 2023 with an exercise price of $0.45, each to March 31, 2024. 

A total of 892,500 warrants are held by parties who are considered to be “related parties” of the Company. Therefore, the amendment of such warrants constitutes a “related party transaction” as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 – 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 insiders 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 and Addana projects, highly prospective copper and silver exploration projects. 

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 extension of the term of the Trigon common share purchase 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 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. 

For further information, contact: 

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

TORONTO – September 7, 2023 – Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces that it has applied to the TSX Venture Exchange to extend the term of (i) 3,781,250 common share purchase warrants previously set to expire on September 20, 2023 with an exercise price of $0.50, (ii) 6,889,499 common share purchase warrants previously set to expire on September 24, 2023 with an exercise price of $0.45, and (iii) 735,999 common share purchase warrants previously set to expire on October 8, 2023 with an exercise price of $0.45, each to March 31, 2024.

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 and Addana projects, highly prospective copper and silver exploration projects.

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 extension of the term of the Trigon common share purchase 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.

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

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

TORONTO – August 24, 2023 – Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces the production of its first copper concentrate. On Friday, August 18, 2023, the Company produced its first sale-ready dried copper concentrate for sale at the mill which has a capacity of 1,000 tonnes per day on Monday, August 21, 2023, the first full day of concentrate production, 436 tonnes of ore were processed through the mill (nearly 44% of capacity) and the Company is targeting 70% production by the end of September. Plant performance statistics are provided in Table 1, outlined below. 

In the commissioning stage, the mill was purposely fed lower-grade material (average feed grade of 0.73% copper) rescued from waste as identified by ore spotters. The utilization of low-grade feed makes the result stand out as more impressive, having produced a concentrate grade of 33.5% copper at recoveries of 79.5%. The resulting concentrate has exceeded the expected grade of 20%, and recoveries have the potential to improve with higher-grade feed. Higher-grade concentrate translates directly to higher profitability due to lower shipment and treatment charges per pound of copper produced. 

Stockpiles on the run-of-mine pad now total 27,000 tonnes of ore averaging close to 1.2% Cu, representing one month’s supply of ore feed. 

Trigon VP Operations and Kombat Mine manager, Fanie Müller, commented: “The mill is performing very well. This level of efficiency on our starter feed puts us in an excellent position as we start to feed our target grades.” 

Table 1: Plant Performance Statistics on First Complete Day of Concentrate Production (August 21, 2023) Plant Performance	Actual
Jaw Crusher Throughput (t)	436
Jaw Crusher Feed Rate (tph)	24
Mill Throughput (t)	457
Mill Feed Rate (tph)	25
Feed Grade (%)	0.72%
Concentrate Grade (%)	33.53%
Tails Grade (%)	0.15%
Copper Recovery (%)	79.52%

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 and Addana projects, highly prospective copper and silver exploration projects. 

Cautionary Notes 

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the reopening of the Kombat Mine, the Company’s ability to restart operations, the performance of the processing plant, the economic viability of 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. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. 

For further information, contact: 

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

Website: www.trigonmetals.com 

TORONTO – August 21, 2023 – Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to announce that it has placed an order with Epiroc South Africa (Pty) Ltd (“Epiroc”) to purchase underground mining equipment to the value of USD$8,933,261. This equipment will comprise the majority of the underground mining fleet for the restart of mining from the Asis West shaft at the Company’s Kombat mine in Namibia, where production is scheduled to ramp up from April 2024.

The purchase will be done through the Company’s Namibian subsidiary, Trigon Mining (Namibia) (Pty) Ltd. (“Trigon Namibia”), which has received approval from Epiroc Financial Solutions AB (“EFS”) for equipment finance (the “Facility”) for 85% of the purchase consideration (USD$7,593,272.30), with a 15% down payment (USD$1,339,988.70) to be paid upfront.

The Facility term is 60 months from the shipment date of each item of equipment, and interest will accrue at 10.95% per annum. Repayments will be made in 55 monthly payments, commencing six months after the respective dates of shipment.

An arrangement fee of 0.75% of the financed amount will be payable on signature of a supplier credit agreement. The Facility will be secured by the mining equipment and a guarantee from Trigon. The above terms are subject to the finalization of a supplier credit agreement between the parties and regulatory, board and other approvals as required. Mining equipment is expected to be received on-site at Kombat between October 2023 and March 2024.

Jed Richardson, President and CEO, commented “We are pleased to be working with Epiroc and thank them and the team members that worked to put this financing package in place in a timely fashion. This allows us to build out our underground fleet while we are just starting to generate cash flow at the open pit”.

Operational Update

At site, the work at the production plant has been completed on schedule. Crushers and mills have been started. The coarse ore bins are being filled and first concentrate was produced on Friday, August 18 ^th , 2023, the details of which will be shared in a subsequent release. Approximately 25,000t of ore is now stockpiled on the run of mine pad.

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 and Addana projects, highly prospective copper and silver exploration projects.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the reopening of the Kombat Mine, the Company’s ability to restart operations, the schedule of production at the Kombat Mine, the Company’s ability to conduct underground mining operations, the Facility and the Company’s ability to obtain the necessary approvals, the timing of receiving mining equipment and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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

TORONTO – August 10, 2023 – Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces the full restart of milling and processing at the Kombat Mine. The Company has succeeded in restarting copper concentrate production at the Kombat mine in Namibia, placing the project on track to meet commercial production targets by the end of September.

On the evening of August 3, 2023, the Company achieved the major milestone of turning on the mill’s crushing facility and starting the flotation circuit. The plant has been running in three-hour bursts as the Trigon team fine-tunes the equipment and sets up for a 24-hour, 7-day-a-week operation. Concentrate levels are building in the thickeners with first concentrate production pending.

Trigon President and Chief Executive Officer, Jed Richardson, commented: “I would like to thank our staff, contractors, suppliers, local partners, and the Namibian government for their concerted efforts in getting Kombat back into production. This milestone for both our Company and the Kombat community pushes us forward as a cash-flowing operation. We look forward to the continued growth of our operations at Kombat as Trigon offers yet more value to our dedicated shareholders.”

Local Director, Trigon Namibia, Jeremy Hangula, commented: “We commend the team at Trigon Namibia for their outstanding efforts at achieving the milestone of bringing these deposits into production. Support from our local shareholders and stakeholders has proven to be invaluable and has contributed greatly to the hundreds of jobs created, and currently adding value to the Kombat community.”

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.

Virtual Non-Deal Roadshows Hosted by Renmark Financial

Trigon will be participating in a live Virtual Non-Deal Roadshow session on Tuesday, August 15, 2023. Trigon welcomes stakeholders, investors, and other individual followers to register and attend this live event.

Jed Richardson, President and Chief Executive Officer, and Aidan Sullivan, Vice-President, Investor Relations will walk viewers through the latest investor presentation followed by a live Q&A. Investors interested in participating in this event will need to register using the link below. As a reminder, registration for the live event may be limited but access to the replay after the event will be on the Trigon website.

REGISTER HERE :
Tuesday, August 15, 2023 at 12:00 PM ET:
https://www.renmarkfinancial.com/live-registration/renmark-virtual-non-deal-roadshow-tsx-v-tm-otcqb-pntzf-2023-08-15-120000

Please access this link using the latest version of Google Chrome to ensure smooth connectivity.

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 and Addana projects, highly prospective copper and silver exploration projects.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the reopening of the Kombat Mine, the Company’s ability to restart operations, the economic viability of the Kombat Mine, the Company’s ability to mine underground and the related timelines, the infrastructure required for Trigon’s operations and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO — July 25, 2023 –Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to provide a progress update on mining operations in Namibia. In the coming week, the mill will produce its first concentrate, with first sales planned by the end of August. The mill is on schedule for start-up as we enter the final stage for open pit production. Meanwhile, significant work has been completed towards underground mining production which is planned to commence early in 2024.

Open Pit Mining at Kombat

Open pit mining started in May 2023, and the ramping up of earth moving has escalated according to schedule. While the strip ratio is expected to average 6.5:1 waste to ore during ramp-up mining; it has focused on reducing overburden and exposing ore in preparation for the mill start-up. In total, 500,000 tonnes of waste have been mined and 15,000 tonnes of ore have been placed on the run-of-mine (“ROM”) pad, preparing to be fed into the mill. Earthmoving is averaging over 10,000 tonnes per day ahead of the required 8,000 tonnes needed to meet the mine plan. On Tuesday, July 25, an ore block of 10,000 tonnes is planned to be blasted in preparation for mill start-up.

With mining already started, Trigon is in possession of all permits required for mining, an up-to-date mining licence and all of the required environmental clearances. The mine and mill are now fully staffed in the mine with contract miner Tulela, Trigon geology staff managing grade control, and Trigon metallurgical staff in the mill.

Table 1: Permits and Permissions by Mining Phase

Table 2: Capital Expenditure Progress: US$

Just over $14 million has been spent in upgrades to the mill and constructing a new tailings facility, in preparation for open pit ore production. The final piece, a new secondary crushing unit was put in place last week offering higher efficiency, higher capacity and higher availability than the unit replaced.

Underground Mine

Underground mining is scheduled to start in April 2024, ramping up through the quarter. The company is hard at work putting the pieces in place for start-up. This includes updating feasibility studies, preparing the underground, building an owner operated underground mining fleet and doubling the capacity of the plant.

The updated feasibility study is on track, being completed by SRK and initial numbers are expected in August for Phase 1 of the underground (Asis West) and in October for Phase 2 (Asis Far West).

Dewatering the underground is the next major step with pumps planned to be turned on in August 2023. All pumps and pipes are at site and pre-installation preparations for pumps have commenced. In addition, Trigon has installed backup generators as a safety precaution to ensure uninterrupted power.

Trigon purchased the first pieces of underground equipment this month, being a used scaler and scoop tram to start on underground clean-up as ramps and stopes will start to become accessible once pumps begin removing the water. The majority of the underground fleet will be purchased new from Epiroc, and the company is working with Epiroc on an equipment financing facility for the purchase.

Plant expansion has yet to commence, but site visits from the manufacturer of the necessary equipment has taken place, final estimates have been received and equipment will be ordered to meet required timelines.

New Geological Personnel

Trigon is pleased to welcome its new Production Geologist to the Kombat Mine:

Pedro de Jesus has specialized in grade control, geotechnical studies, and exploration geology. He is highly experienced in the mining industry. Mr. de Jesus comes to Trigon with nearly 18 years of experience as a Senior Production Geologist at the Okorusu Fluospar mine, having worked in various capacities for companies including B2Gold, Uis Tin Mining Company, and Northern Graphite Corp.. He holds a Bachelor’s degree in Geology and Chemistry from the University of Namibia and an Honors degree in Geology/Earth Science from Wits University, School of Geosciences.

Commenting, Jed Richardson, President and CEO, “Mill start-up planned for this week will mark a key inflection point for the company as we start producing copper concentrate and look to make our first revenue next month (August 2023). Special thank you to the staff and officials who have made this possible and the shareholders and partners who have made production at Kombat a reality.”

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 and Addana projects, highly prospective copper and silver exploration projects.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the reopening of the Kombat Mine, the Company’s ability to restart operations, the economic viability of the Kombat Mine, the Company’s ability to mine underground and the related timelines, the impact of new personnel on the Company’s operations, the ability to obtain adequate equipment and requisite financing, reliance by the Company on contractors, the infrastructure required for Trigon’s operations and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Contacts

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