News

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

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

Toronto, Ontario, July 12, 2023 – Trigon Metals Inc. (TSX-V: TM) (the “Company” or “Trigon”) is pleased to announce that it has closed its previously announced private placement offering of units of the Company (the “Units”) pursuant to which the Company issued 25,000,000 Units at a price of $0.20 per Unit (the “Offering Price”) for aggregate gross proceeds of $5,000,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.30 per Common Share for a period of 36 months following the date hereof (the “Closing Date”). The Offering was led by Beacon Securities Limited, as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”) that included Echelon Wealth Partners Inc.

The Company plans 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 for general working capital requirements.

In connection with the Offering, the Agents received an aggregate cash fee equal to $204,450]. In addition, the Company issued to the Agents 1,022,250 non-transferable compensation options (the “Compensation Options”). Each Compensation Option entitles the holder thereof to purchase one Common Share at an exercise price equal to the Offering Price for a period of 36 months following the Closing Date.

In addition, the Company has also paid the Agents a corporate finance fee of $83,000, plus applicable taxes. In addition, the Agents received 417,000 corporate finance fee Compensation Options, to purchase an equal number of Common Shares, subject to adjustment in certain circumstances, at the Offering Price for a period of 36 months following the Closing Date.

The Common Shares and Warrants issued pursuant to the Offering will not be subject to a statutory 4-month hold period pursuant to applicable Canadian securities laws as the Offering was completed pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The Compensation Options will be subject to a statutory 4 month hold period pursuant to applicable Canadian securities laws. The Offering remains subject to final approval of the TSX Venture Exchange (the “TSXV”).

About 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 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 intended use of proceeds from the Offering; the exercise of the Warrants; the exercise of the Compensation Options; the receipt of any regulatory approvals, including the final approval of the TSXV; the quality of mines and mining activity; 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.

For further information, contact: Jed Richardson

+1 647 276 6002

jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

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