News

TORONTO — July 6, 2023 –Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces results from confirmation drilling at the Kombat Mine in Namibia (the “Project”) with key highlights from the drilling campaign. The reported results are from the East 400 area, and the Kavango North Pit. The East 400 area is located 250m east of the Kavango Pit where mining began in May 2023. Kavango North pit is an extension of the Kavango Pit.

Highlights of the Drill Results

The team has drilled some confirmation holes in the East 400 area. East 400 is the smallest and shallowest of the planned pits at the Kombat mine. The holes did exhibit evidence of oxidization in the mineralized zone, but also returned some of the highest silver grades reported in drilling this year.

E400INF009 (3.7 azimuth, -53 dip)
Intersected 11m, 1.75% Copper, 20.61g/t Silver, from 31m.

E400INF013 (186.4 azimuth, -58.7 dip)
Intersected 9m, 7.89% Copper, 23.80g/t Silver, from 30m.

At the Kavango North pit, where mining is currently active, the team drilled confirmatory holes within the planned resource envelope. The results of the drilling displayed a strong correlation to the resource model, supported the targeted head grade of 1.2% copper and exhibited higher silver grades in excess of the resource average 6.2 g/t.

KVNINF005 (180 azimuth, -63 dip)
Intersected 15m, 1.59% copper, 13.07g/t silver, from 17m.

KVNINF014 (171.8 azimuth, -62.1 dip)
Intersected 5m, 2.78% copper, 36.99 g/t silver, from 35m.

KVNINF017 (181.1 azimuth, -64.6 dip)
Intersected 29m, 1.19% copper, 10.84 g/t silver, from 20m.

These infill holes drilled at East 400 and Kavango North pit serve as confirmation of mineralization previously modeled, however, copper and silver grades are higher than expected.

Jed Richardson, Trigon’s President and CEO, commented, “Drilling is now focused on East 400 and East 600, completing resource confirmation and definition. One of the three drill rigs active at Kombat will be moved to Gross Otavi on the western limb of the Copper King Extension later this month.”

“Our mining ramp-up continues at Kombat. We have already moved 210,000 tonnes of ore and waste this month, exceeding the 124,000 tonnes moved in May, and our June target of 180,000 tonnes. At full production, monthly mined ore and waste will average 240,000 tonnes per month and our team has already shown this is a target they will be able to meet and exceed in the coming months. Mill start-up is planned for the end of July, with first concentrate shipment in August.”

Figure 1: Map of the East 400 Planned Pit Area Showing Hole Locations — Drill holes are spaced at 5m intervals, testing gaps in the resource model and measuring contact between sulfide and oxide mineralization

Figure 2: Drill Core – Hole E400INF-009 34-41m — Abundant visible copper sulfide mineralization (chalcopyrite). In weathered parts of the core, the copper is predominantly in the form of chalcocite, a copper sulfide, which the mill has proven to be effective in recovering.

Figure 3: Drill Core – Hole E400INF-013 27-34m — This very high-grade hole, including one metre of 21.87% Cu and 90.99 g/t Ag, has weathering similar to the core pictured in Figure 2. The copper is predominantly in the sulfide mineral chalcocite. 

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.

Quality Assurance & Quality Control (QA/QC):

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program following E2941 − 21 Standard Practices for Extraction of Elements from Ores and Related Metallurgical Materials by 4 acid Digestion with ICPOES finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (“ALS”), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. Sample size: 3 kg, crushed split to 250g weighed sample (+/- 0.5000g).

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 and results thereof, the prospectivity of the Project, the economic viability of the Project, the Company’s ability to restart 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

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

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

TORONTO, June 28, 2023 – Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF)(“Trigon” or the “Company”) is pleased to announce that it has entered into an agreement with Beacon Securities Limited (the “Lead Agent”) to act as lead agent and sole bookrunner on behalf of a syndicate of agents, including Echelon Wealth Partners Inc. (together with the Lead Agent, the “Agents”), in connection with a commercially reasonable “best efforts” private placement of units of the Company (the “Units”) at a price of $0.20 per Unit (the “Issue Price”) for gross proceeds to the Company of approximately $3,000,000, subject to the maximum amount that may be issued under Part 5A (the “Listed Issuer Financing Exemption”) of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) (the “Offering”).

Each Unit will be comprised of one common share of the Company (each, a “Common 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 Common Share (a “Warrant Share”) at an exercise price of $0.30 per Warrant Share at any time for a period of 36 months following the closing of the Offering.

The Company intends to use the net proceeds of the Offering for mineral exploration activities on the Company’s Kombat Project, Silver Hill Project and Addana Project and general working capital requirements.

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units will be offered for sale to purchasers resident in Canada, except Quebec, and other qualifying jurisdictions, pursuant to the Listed Issuer Financing Exemption. The securities issued under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.trigonmetals.com. Prospective investors should read this offering document before making an investment decision.

The Offering is expected to close on or about July 12, 2023, or such date as the Lead Agent and the Company may agree upon, and is subject to certain conditions, including but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange (the “TSXV“). Completion of the Offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

As consideration for their services, the Agents will receive a cash commission of 6.0% of the gross proceeds of the Offering (provided that a cash fee equal to 3.0% shall be payable in respect of gross proceeds from Units sold to purchasers included on a president’s list to be determined by the Company (the “President’s List“) and compensation options (the “Compensation Options”) in an amount equal to 6.0% of the number of Units sold pursuant to the Offering (provided that Compensation Options equal to 3.0% shall be issuable in respect of Units sold to purchasers on the President’s List). Each Compensation Option will be exercisable to purchase one common share of the Company at the Issue Price for a period of 36 months from the closing date of the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold to, or for the account or benefit of, persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with an applicable exemption from such registration requirements.

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 press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release (other than statements of historical facts) that address future business development, project developments and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements, including without limitation statements with respect to: the timing and completion of the Offering; the ability of the Company to raise the targeted or maximum proceeds of the Offering; the intended use of proceeds from the Offering; the exercise of the Warrants; the receipt of any regulatory approvals, including the final approval of the TSXV; and future capital requirements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding the disclosure in the press release above, the Company has assumed, among other things, that it will receive the approval of the TSXV in regard to the Offering and the issuance of the Units in connection therewith. If the TSXV objects or does not provide its approval for the transactions contemplated hereby, then the Company will have to negotiate revised terms with the applicable counterparties, and there is no assurance that the parties will reach an agreement that is acceptable to the Company. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: the availability and procurement of any required interim and/or long-term financing that may be required; general economic, market or business conditions; and other factors discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statements or other reports and filings with the TSXV and applicable Canadian securities regulations.

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 — June 28, 2023 –Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to announce that it has been granted seven exclusive prospecting licences encompassing 112 square kilometres in the Addana Mountains of Southern Morocco, (collectively called the “Addana Project”).

The Addana Project is a silver and lead, polymetallic deposit located in a district that has seen lead and silver mining for hundreds of years. Numerous high-grade veins can be seen from surface over an area over 40 km in strike length. The veins vary in length from 15m to 2.5km, generally about 40cm thick, often only a few metres and possibly amenable to the use of bulk open pit mining methods.

Historical mining was done using hand tools to a depth of up to 10 metres. Historical tax data from the area shows that taxes were paid on 600 tonnes per year of raw ore extracted from the area, divided into 3 categories of material:

• Al Quifox ore (80% lead and 1200g/t silver), Amjoute ore (65% lead and 750-900g/t silver) basic ore 50% lead and 600g/t silver.

Grab samples collected by Trigon from historic waste material

• T1 – 317 g/t silver and 22.6% lead
• T2 – 99 g/t silver and 9.5% lead
• T3 – 564 g/t silver, 24.8% lead and 5.3% zinc

Jed Richardson, President & CEO of Trigon Metals, commented, “The Addana Project represents another example of the potential for world-class projects in Morocco. All seven permits have extensive artisanal workings showing the presence of silver lead veins. Analysis of slags from the area shows potential for material concentrations of copper, zinc and cobalt associated with silver and lead. Notably, the Addana permit area is 14 times the size of our target area at Silver Hill and the historic workings are far more pervasive.”

The Addana Project is located near Akka, in the province of Tata. It is located about 300 km from Agadir on the road connecting Agadir to Tata. The Addana Range was formed by an anticlinal fold in the Bani series of quartzites and schists, of Ordovician age.

Trigon has not verified the historical results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that the grab samples are select samples and are not necessarily representative of mineralization on the Addana Project. Readers are cautioned that there has been insufficient exploration by the Company or its qualified person at the Addana Project to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.

Strategic Alternatives for Moroccan Assets

Trigon secured the permits for the Addana Project as part of a reallocation of exploration permits in the Tata region. With the grant of the associated permits, Trigon has three years to explore before the permits must be renewed. Trigon must mobilize and establish exploration on the property within six months of their granting.

As the Company develops the Addana and Silver Hill projects learning more about the size potential of each, the Board of Directors will explore various strategies to maximize shareholder value, including a spin-out of the Morocco assets as a dividend to Trigon shareholders.

Figure 1: Seven Addana Permits, Southern Morocco; Each block represents a 4×4 km claim. The artisanal workings follow a 40 km trend.

Figure 2: Areas of Artisanal Working on PR 3941260; Four identified target areas on the first permit area. The strike length from targets 1 to 4 is approximately 3km.

Figure 3: Target Area 1; Four visible veins with workings

Figure 4: Target Area 2; Eighteen visible veins with historical workings

Figure 5: Target Area 3 North; Twenty-five visible veins with historical workings

Figure 6: Target Area 3 South; Twenty-five visible veins with historical workings

Figure 7: Target 4; Five visible veins with historical workings

Qualified Person

The technical information presented in this press release has been reviewed and approved for disclosure by Jed Diner (M.Sc., P.Geol.) is a Qualified Person (QP) as defined by National Instrument 43-101. Mr. Diner is independent 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

This news release may contain forward-looking statements. These statements include statements regarding the Addana Project and the acquisition thereof, the prospectivity of the Addana Project, the planned exploration program for the Addana Project, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Addana 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.

Contacts

For further information, contact:

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

Website: www.trigonmetals.com

TORONTO — Jun 13, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF)T (“Trigon”
or the “Company”) is pleased to announce that it has closed the acquisition of exclusive
prospecting licence 8529 (“EPL 8529” or the “Licence”) referred to as the Copper King
Extension, as announced on January 30, 2023, which significantly expands its land
holding in Namibia. The Licence surrounds Trigon’s Kombat and Gross Otavi projects in
the Otavi Mountainland, a region associated with high grade copper and silver
mineralization.

EPL 8529 is situated on the Kombat trend, the mineralized structure on which the Kombat
project is located and covers an area of 5,614 hectares in the Grootfontein District of the
Otjozondjupa Region, between the towns of Otavi to the west and Grootfontein to the
east.

From a geological perspective, the Licence represents a potential strike extension of the
Kombat project, with various known mineral occurrences on the property. Trigon
management has extensive knowledge of the area and plans to implement an exploration
program in conjunction with its ongoing exploration work on the Kombat project areas.
On June 5, 2023, Trigon received confirmation from the Ministry of Mines and Energy in
Namibia, that the Minister had approved the transfer of the Licence from the seller, Otjiwa
Mining and Prospecting CC, to Trigon with effect from May 24, 2023. This was the final
outstanding condition for the closing of the acquisition.

The purchase consideration for the Licence comprises a cash price of N$1,750,000
(approximately C$122,556) and the issuance of 84,129 Trigon common shares to the
vendor. The Trigon shares are subject to a four-month statutory hold period.
The transaction is an arm’s length transaction for the purposes of the policies of the TSX
Venture Exchange (the “TSXV”) and the transaction qualifies as an “Expedited
Acquisition” under TSXV Policy 5.3.

EPL 8529 is valid for a period of three years from November 9, 2022 to November 8,
2025.

Jed Richardson, President & CEO of Trigon Metals, commented, “Drill exploration of
targets on the Copper King Extension will start in the coming weeks. The large number
of copper showings fuel our expectations for new discoveries along the 35km of
strikelength.”

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
This news release may contain forward-looking statements. These statements include
statements regarding EPL 8529 and the acquisition thereof, the prospectivity of EPL
8529, the planned exploration program for Kombat and EPL 8529, the Company’s
strategies and the Company’s abilities to execute such strategies, the Company’s
expectations for Kombat and EPL 8529, 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

TORONTO — May 10, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) is pleased to announce, as of yesterday, May 9, 2023, a successful first mining blast and the official restart of mining operations from its Kombat mine open pit, ahead of initial projections.

Trigon President and CEO, Jed Richardson, commented: “I would like to thank our staff, contractors, suppliers, local partners and the Namibian government for their efforts in getting Kombat back into production after our pause in July 2022. This is an important milestone for our Company and the Kombat community. We are excited to begin production and look forward to the continued growth of our operations at Kombat.”

Video footage of the first blast is viewable at the following link: https://www.youtube.com/watch?v=kjoMYDWkW2k

Now that mining has commenced, ore will be stockpiled at the mill. First concentrate shipments are anticipated in fiscal Q2. Copper production of 4.4 million pounds is anticipated from the open pit by March 31, 2024 (fiscal year end), growing to 6.8 million pounds in our first full year of production. The next quarter is expected to also mark the beginning of water pumping from underground in anticipation of reopening underground mining in 2024.

The Kombat Mine

The Kombat Mine is currently the only operating commercial copper mine in Namibia. Mining operations originally commenced in 1962, having produced a total output of 12.5 million tonnes of ore grading 2.6% copper on average until 2008. The mine still boasts NI 43-101 measured and indicated open pit and underground resources of an additional 12.2 million tonnes at an average grade of 1.9% copper. Exploration potential exists close to existing workings at surface and underground, alongside 35km of mineralized strike-length Trigon has yet to explore.

The inherited mine infrastructure has an estimated value of more than USD $150 million, including; a mill that can process 1,100 tonnes/day, an 800m shaft with two other vertical shafts, extensive underground workings, a tailings facility, ramp systems, mine buildings and concentrator.

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

This news release may contain forward-looking statements. These statements include statements regarding the Project, the mineralization of the Company’s projects, the Company’s exploration plans and results thereof, the prospectivity of the Kombat mine, the economic viability of the Kombat mine, the Company’s ability to restart and continue 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

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

TORONTO — May 04, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces results from the drilling of new mineralization targets at its Kombat Mine in Namibia (the “Project”) with key highlights from the drilling campaign. The reported results are from the Kavango West area, 150 metres west of the Main Kavango Pit, discussed in recent press releases, the implications being a favourable confirmation of the Kombat trend mineralization.

Highlights of the Drill Results

Hole 3 (180 azimuth, -76.4 dip)
– 10m, 2.07%Cu, from 53m
– 3m, 1.24%Cu, from 71m

Hole 4 (180 azimuth, -58 dip)
– 6m, 2.65%Cu, from 57m

Hole 9 (0 azimuth, -55 dip)
– 9m, 2.59%Cu, from 60m

Hole 15 (351 azimuth, -55 dip)
– 6m, 2.93%Cu, from 61m

The holes reported are from drilling testing gaps in the known mineralization previously thought to be barren. Holes 3, 4, 9 and 15 are verification holes testing continuity between areas previously drilled. The results are some of the longest intercepts drilled from surface.

Kavango West is a direct extension of the main body of the mineralization lying just west of the planned Kavango Pit closer to the mill and main shaft. The mineralization is proving to be higher grade but deeper than Kavango and Kavango North. From historical drilling, this connects to even larger bodies at depth and is close to underground workings. This area has been incorporated into the Company’s underground mine plan.

Jed Richardson, Trigon’s President and CEO, commented, “I am very pleased with the progress made by the Trigon team. The work has exceeded our initial expectations and we are ahead of schedule. Crews have moved to the open pit. Free dig material around the pit is already being moved. Holes are being drilled and charges are being set for Tuesday, May 9, 2023, a week ahead of the previously projected first blast of May 16, 2023.”

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.

Table of Drilling Highlights

Hole ID		X		Y		Depth		Azimuth		Dip		Significant and Selected Intersections
KVW0001		74,415		253,342		73.6		0		-45		1m, 1.48%Cu, 7.5g/t Ag, from 69m
KVN0003		74,425		253,404		76.4		180		-59		10m, 2.07%Cu, from 53m 3m, 1.24%Cu, from 71m
KVW0004		74,465		253,405		67.1		180		-58		6m, 2.65%Cu, from 57m
KVW0005		74,450		253,415		82.7		181		-51		2m, 1.28%Cu, from 57m 3m, 8.30%Cu, from 67m
KVW0006		74,433		253,400		70.8		172		-62		4m, 2.83%Cu, from 64m
KVW0008		74,423		253,343		85.7		0		-55		7m, 1.58%Cu, from 59m
KVW0009		74,434		253,344		79.7		0		-62		9m, 2.59%Cu, from 60m
KVW0014		74,453		253,342		76.4		12		-56		1m, 1.92%Cu, from 65m
KVW0015		74,465		253,340		73.4		351		-55		6m, 2.93%Cu, from 61m
KVW0016		74,473		253,338		74.1		2		-51		3m, 1.29%Cu, from 62m
KVW0017		74,482		253,336		77.1		337		-45		3m, 1.52%Cu, from 67m
KVW0017B		74,485		253,336		83.1		5		-44		1m, 3.22%Cu, from 65m
KVW0021		74,500		253,370		76.5		6		-56		3m, 1.52%Cu, 5.7g/tAg, from 43m

Quality Assurance & Quality Control (QA/QC):

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program following E2941 − 21 Standard Practices for Extraction of Elements from Ores and Related Metallurgical Materials by 4 acid Digestion with ICPOES finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (“ALS”), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. Sample size: 3 kg, crushed split to 250g weighed sample (+/- 0.5000g).

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.

Renmark Financial to Host Virtual Non-Deal Roadshow Today

Trigon will be participating in a live Virtual Non-Deal Roadshow session Thursday, May 4, 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:

Thursday, May 4, 2023 at 10:00 AM ET:
Click Here

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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 and results thereof, the prospectivity of the Project, the economic viability of the Project, the Company’s ability to restart 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.

TORONTO — Apr 20, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces results from the drilling of new mineralization targets at its Kombat Mine in Namibia (the “Project”) with key highlights from the drilling campaign. The reported results are from the Kavango North area, 150 metres north of the Main Kavango Pit, discussed in recent press releases (August 4, September 15, and November 9, 2022 and January 21, 2023), the implications being a favourable confirmation of the Kombat trend mineralization.

Highlights of the Drill Results

Hole 8 (185 azimuth, -54.7 dip)
– 17m, 3.62%Cu, 32.9g/t Ag, from 27m

– 8m, 1.70%Cu, 11.59g/t Ag, from 57m

Hole 9 (181 azimuth, -55 dip)
– 1m, 9.38%Cu, 59.1g/t Ag, from 3m

– 14m, 4.02%Cu, 43.7g/t Ag, from 29m

Hole 12 (171 azimuth, -51 dip)
– 1m, 4.67%Cu, 7.1g/t Ag, from 17m

Hole 15 (179 azimuth, -59 dip)
– 5m, 3.21%Cu, 21.1g/t Ag, from 17

The holes reported are from drilling testing gaps in the known mineralization previously thought to be barren. Holes 8, 9, 12 and 15 are verification holes testing continuity between areas previously drilled. The results are some of the longest intercepts drilled from surface.

Kavango North is an area of mineralization discovered by the team in January. The reported drilling confirms its continuity. It has been incorporated into our resource and mine plan, adding more high grade ore and reducing the overall strip ratio.

Jed Richardson, Trigon’s President and CEO, commented, “The team has now completed the mine plan and the mine contractor is preparing to start mining, finishing work on the tailings facility. All of the necessary equipment is in place for the start of mining. First blast is scheduled for May 16, 2023.”

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.

Table of Drilling Highlights

Hole ID	X	Y	Depth	Azimuth	Dip	Significant and Selected Intersections
KVN0001	74,570	253,529	129.8	179	-53	3m, 0.94%Cu, 6.73g/t Ag, from 25m
KVN0003	74,600	253,530	121.1	174	-60	1m, 1.00%Cu, 16.8g/t Ag, from 6m 2m, 1.32%Cu, 9.33g/t Ag, from 53m
KVN0005	74,600	253,540	130.2	190	-58	8m, 2.48%Cu, 41.0g/t Ag, from 16m18m, 1.96%Cu, 28.6g/t Ag, from 30m
KVN0007	74,585	253,520	100.3	178	-55	3m, 2.56%Cu, 19.8g/t Ag, from 40m
KVN0008	74,585	253,540	127.8	185	-55	17m, 3.62%Cu, 32.9g/t Ag, from 27m 8m, 1.70%Cu, 11.59g/t Ag, from 57m
KVN0009	74,570	253,540	142.1	181	-54	1m, 9.38%Cu, 59.1g/tAg, from 3m 14m, 4.02%Cu, 43.7g/t Ag, from 29m
KVN0010	74,625	253,545	130.5	176	-60	6m, 2.36%Cu, 16.3g/t Ag, from 58m
KVN0011	74,625	253,535	127.5	182	-61	7m, 1.18%Cu, 16.4g/t Ag, from 68m
KVN0012	74,625	253,525	90.8	175	-51	1m, 4.67%Cu, 7.1g/t Ag, from 17m
KVN0015	74,550	253,533	73.0	179	-59	5m, 3.21%Cu, 21.1g/t Ag, from 17m
KVN0019	74,585	253,492	81.0	0	-60	4m, 2.05%Cu, 18.6g/t Ag from 45m
KVN0021	74,600	253,520	65.2	0	-60	5m, 1.51%Cu, 9.1g/t Ag, from 14m

Quality Assurance & Quality Control (QA/QC):

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program following E2941 − 21 Standard Practices for Extraction of Elements from Ores and Related Metallurgical Materials by 4 acid Digestion with ICPOES finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (“ALS”), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. Sample size: 3 kg, crushed split to 250g weighed sample (+/- 0.5000g).

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.

Generation IACP

The Company has engaged Generation IACP to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Generation IACP will receive a fee of C$7,500 plus applicable taxes per month. The agreement between the Company and Generation IACP is for an initial term of six (6) months and shall be automatically renewed for subsequent six (6) month periods unless the Company provides written notice of termination to Generation IACP. Commencing on the first anniversary of the agreement, the fee payable to Generation IACP will automatically increase annually by 3.0%. No stock options or other compensation are being granted in connection with the engagement. Generation IACP does not currently own any securities of the Company; however, Generation IACP and its clients may acquire an interest in the securities of the Company in the future.

Generation is an arm’s length party to the Company. Generation’s market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. Generation IACP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities. Terms of this agreement are subject to the approval of the TSX.

Generation is based in Toronto, Ontario, and is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange, and is a Participating Organization, as such term is defined in the rules and policies of the Toronto Stock Exchange.

Renmark Financial to Host Virtual Non-Deal Roadshows Next Month

Trigon will be participating in a live Virtual Non-Deal Roadshow session on Tuesday, May 2, 2023 and Thursday, May 4, 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, May 2, 2023 at 12:00 PM ET: Click Here

Thursday, May 4, 2023 at 10:00 AM ET: Click Here

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Figure 1: Map of the Kavango Program Area Showing the Location of Holes 8, 9, 12 and 15 in the Kavango North Area Verification holes 8, 9, 12 and 15 are in the heart of the Kavango North mineralized zone 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 2: Cross Section Kavango North — Hole 8 Figure 2 shows the modelling done before the drilling of KVN0008. It shows a copper intersection between 4-65m and 113-116m with blended traces of Cu oxide, but predominantly sulfides between 4-24m, 1.88% copper sulfides over 41m between 24-65m, with 28.18% copper between 40-41m.

Figure 3: Drill Core from Hole 8 The core pictured in Figure 3 shows the clearly visible sulfide mineralization.

Figure 4: Cross section Kavango North — Hole 9 Figure 4 shows the modelling done before the drilling of KVN0009. This shows a copper intersection between 0-4m and 30-48m with traces of copper oxide between 0-2m, 9.38% copper mainly sulfides between 3-4m and 3.54% copper sulfides over 16m between 28-44m, with the highest copper grade (21.77%) between 42-43m, displaying mainly copper sulfide traces throughout between 48-76m.

Figure 5: Drill Core from Kavango North Hole 9 The core pictured in Figure 5, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core.

Figure 6: Cross Section Kavango North — Hole 12 Figure 6 shows the modelling done before the drilling of KVN0012. It shows a copper oxide intersection between 16-29m with 4.67% copper oxide between 17-18m.

Figure 7: Drill Core from Kavango North — Hole 12 The core pictured in Figure 7 shows brownish chalcopyrite mineralization (copper mineral) throughout the drill core.

Figure 8: Cross Section of Kavango North Hole 15 Figure 8 shows the modelling done before the drilling of KVN0015. It shows a copper intersection between 13-30m with 1.84% Cu sulfide over 9m between 13-22m.

Figure 9: Drill Core from Kavango North Hole 15 The core pictured in Figure 9 shows massive bornite mineralization with malachite coating (copper minerals) throughout the drill core.

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 and results thereof, the prospectivity of the Project, the economic viability of the Project, the Company’s ability to restart 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

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