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

Trigon Metals

Building A Mid-Tier African Copper Producer

2021

Trigon Metals Reports 8m of 6.56% Copper Extending Open Pit Mineralization, Namibia

by

TORONTO, ON – November 11, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to announce that recent drilling has unexpectedly intercepted high-grade mineralization that has the potential to increase both the resource tonnes and deposit grade.

Geotechnical drill testing of the rock conditions around the planned open pits was completed to confirm rock stability for mine design purposes. Core from these holes, outside of the currently designed pit shells, the core in the holes showed visible mineralization and were sent to be assayed.

Four of the geotechnical holes contained significant amounts of copper, representing the potential for an increase of tonnage, of grade and of the life of the open mine.

Highlights of the drill results are as follows:

  • Hole (GTBH010): 8m intersection of 6.56% Cu which includes 5m of 9.15% Cu @ (66-74m).
  • Hole (GTBH010): 3m intersection of 1.36% Cu @(89-92m).
  • Hole (GTBH004): 2m intersections of 1.2% Cu @(57-59m) and 1.4 % Cu @(75-77m).
  • Hole (GTBH013): 4m intersection of 1.72% Cu which includes 2m of 3.3% Cu @(57-61m).
  • Hole (BH21-09): 2m intersection of 1.27% Cu @(52-54m).

 

The holes were completed in September and confirmed the ground stability conditions, this data has been used in the design of our planned open pits. Assays for the holes with visible mineralization have just been received.

Commenting, Jed Richardson, President and CEO of Trigon, said, “These results illustrate the additional potential of the Kombat Mine and represent only a fraction of the 30 kilometres of strike length within the Company’s property.

About Kombat Mine

The Kombat Copper Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of Copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for Lead and Zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

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, 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 restart of the Kombat Mine, the results of the current drilling program, the mineralisation of the project, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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

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

Trigon Metals Signs US$5 Million Project Finance Facility with IXM and Agrees Offtake Terms

by

TSX.V: TM
www.trigonmetals.com

Mr. Jed Richardson reports:

TORONTO, ON – October 28, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into a credit agreement with IXM SA (“IXM”) for a US$5 million project finance facility to provide the next tranche of funding required for the restart of the Kombat Mine. The parties have also agreed on concentrate offtake terms for the offtake of copper concentrate by IXM from the Company’s Kombat Mine in Namibia.

IXM is a global merchandiser of base and other non-ferrous metals, with expert teams on every continent. It is among the top copper, zinc, and lead concentrate, and cobalt merchants internationally and is a leading trader of refined base metals. It is already active in Namibia, with a strong track record in that region, making it the ideal partner for the Kombat Mine as it commences production. IXM is fully owned by the CMOC group, which is an international mining company with operations across the world and one of the leading suppliers of copper, cobalt, molybdenum, tungsten, niobium and phosphate fertilizer products.

Financing Facility

Trigon and its Namibian subsidiary, Trigon Mining (Namibia) (Pty) Ltd (“Trigon Namibia”), have entered into a credit agreement with IXM for a US$5 million project finance facility (the “Facility”), the proceeds of which will be used for capital and operating expenditure for the restart of the Kombat Mine.

The Facility is expected to be drawn down in two tranches of US$2.5 million each. The drawdowns are subject to various conditions precedent, including signature of the offtake agreement as referred to below, receipt of applicable board of directors, and regulatory approvals, as well as confirmation of further funding support from Trigon as required.

The Facility is repayable over 36 months, commencing 6 months after the initial drawdown. Trigon Mining will pay to IXM a commitment fee of 3.2% of the Facility amount and an arrangement fee of 1.0% of the Facility amount, each fee payable pro rata based on the amount of each tranche.

Trigon will provide an unsecured guarantee of the obligations under the Facility, Trigon Namibia will provide certain security over substantially all of its assets that do not require third party approval to charge and Kombat Holdings Namibia (Pty) Ltd. will pledge its shares of Trigon Namibia to IXM as security for Trigon Namibia’s obligations under the Facility.

Copper Concentrate Offtake

IXM has agreed on terms with Trigon Namibia to acquire 100% of the production from the Kombat open pit mine, which is scheduled to produce its first concentrate in early 2022.

Jed Richardson, President and CEO of Trigon, commented, “We have been engaging with IXM over the past few months and are pleased to announce our partnership with them as we take the Kombat Mine into production. The finalization of our financing and offtake arrangements was a key milestone in the restart process and we look forward to developing a long-term relationship with IXM as the operation grows.”

About Kombat Mine

The Kombat Copper Project is the flagship project of Trigon, with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for lead and zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

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

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

For further information, contact:

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

Trigon Metals Commences Mining Operations at Kombat Mine, Namibia

by

TORONTO, ON – October 19, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to announce that the Kombat Mine officially resumed production after 14 years of closure.

Trigon has successfully restarted the Kombat Mine with a successful blast in the Kombat open pit this morning at 11:30 a.m. Namibia time.

Jed Richardson, President and CEO of Trigon, commented, “Today marks a momentous milestone; for Trigon, the community of Kombat and country of Namibia, and of course our valued shareholders. Special thanks to our team for their diligence in moving the Company forward to this great day.”

For an up-close look at the first official blast at the Kombat open pit, please visit Trigon online in the upcoming days for pictures and videos on Facebook, Instagram, LinkedIn, YouTube and Twitter.

About Kombat Mine

The Kombat Copper Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of Copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for lead and zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company has redeveloped the previously producing Kombat Mine and continues to explore its licences. 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 restart of the Kombat Mine, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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

For further information, contact:

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

Trigon Metals Provides Progress Update on Silver Hill Project, Morocco

by

TORONTO, ON – September 29, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to provide a progress update on work at the Company’s Silver Hill project in Morocco (“Silver Hill” or the “Project”). Following the conclusion of drilling in early 2021, the Company has been working to advance the Project in preparation for a resumption of drilling planned for December 2021. Work has focused on mapping and remote sensing, identifying signatures for mineralization in the drilled discovery area, and the new hydrothermal vent mineralization discovered in the high-grade trench, 1.5km from the discovery zone. The Company also welcomes Mr. Jed Diner, P.Geo to the team to strengthen its exploration team in Morocco.

The Company has completed a detailed topographic survey of the entire exploitation permit with an aerial drone survey to provide an accurate geographical framework to input completed and future drilling. The survey is expected to enable the production by the Company of more accurate maps, cross-sections and DTM (Digital Terrain Models).

Geochemical sampling work continues at site. To date, work has focused on the area of the trench with collection of some 240 samples around the area that exposed the high-grade hydrothermal vent mineralization. The trench returned 13 metres of 2.7% copper, 34.5 g/t silver and 82 ppm cobalt (See press release dated February 24, 2021). The soils from this area for marker minerals can be used to identify extensions to the mineralization on the Project permit area and the adjacent claims. Trigon has under application over 14km of potential strike length that shows evidence of similar hydrothermal mineralization. Trigon has priority over the claims but is awaiting official granting by the regional mineral commission. Information gleaned from this sampling program could generate a powerful exploration tool that can be applied regionally.

A detailed ground geophysical survey is planned for the discovery drilling area, the hydrothermal high-grade trench and the adjoining areas in the coming weeks. Electromagnetic (EM) surveying will be employed. Given the nature of the mineralization, this method is expected to generate an interesting signature that will be compiled with geochemical results, geology, and drilling results. The work is intended to help focus drilling planned for December 2021, looking to identify a potentially mineralized connection between high grade copper and silver drilled in the discovery zone and the trench mineralization 1.5km away. If the mineralization is directly connected, it could translate into over 2km of richly mineralized strike-length, evidencing a large-scale deposit. The survey may also determine that the structures do not connect, and though related may run parallel to each other, a result that could be interpreted as more favourable.

Trigon is pleased to welcome Mr. Jed Diner, P.Geo to its team. He will oversee exploration activities at Silver Hill. Mr. Diner has worked as a consulting geologist on a wide variety of precious and base metals projects for more than 35 years. He brings extensive experience working in Africa. He holds a B.Sc in Geology and Earth Science from Hebrew University and a M.Sc in Applied Earth Science from Stanford University. Mr. Diner brings a wealth of exploration experience strengthening the Company’s on the ground team.

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.

For further information, contact:

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

Cautionary Notes

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

This news release may contain forward-looking statements. These statements include statements regarding the Silver Hill Project, exploration activities in Morocco and 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.

Trigon Metals Files NI 43-101 Technical Report on Updated Kombat Mineral Resource

by

TORONTO, ON – September 17, 2021 / Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) has filed an updated NI 43-101 technical report covering the Kombat copper project in Namibia.

The updated NI 43-101 technical report reports an Indicated Minerals Resource of 12.22 million tonnes and an Inferred Mineral Resource of 1.91 million tonnes, representing a 66% increase in the Indicated Mineral Resource from the previous estimate reported at October 1, 2020 (see press release dated August 3, 2021).

Combined Mineral Resource (Open Pit & Underground) as at 3 August 2021

Area Mineral Resource Category Tonnes Density Grade Content
Cu Pb Ag Cu Pb Ag
Mt t/m3 % % ppm t t kg
Total Indicated 12.22 2.81 1.94 0.70 13.67 237,505 85,649 167,017
Total Inferred 1.91 2.87 2.19 1.79 6.13 41,738 34,209 11,699

Notes:

  1. The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
  2. The underground Mineral Resource is below the depth limit and is declared at a CuEq cut-off of 1.5%.
  3. The Mineral Resource has been depleted with historical mined voids.
  4. No additional geological losses have been applied.
  5. Mineral Resources are reported as total Mineral Resources and are not attributed.

Open Pit Mineral Resources as at 3 August 2021

Area Mineral Resource Category Tonnes Density Grade Content
Cu Pb Ag Cu Pb Ag
Mt t/m3 % % ppm t t kg
Kombat East Indicated 2.92 2.79 0.95 0.54 5.94 27,900 15,769 17,349
Kombat Central 2.36 2.78 1.05 0.21 6.59 24,798 4,924 15,543
Total Indicated 5.28 2.79 1.00 0.39 6.23 52,698 20,693 32,892
Otavi Inferred 0.64 2.84 0.93 2.50 0.85 6,006 16,053 546
Total Inferred 0.64 2.84 0.93 2.50 0.85 6,006 16,053 546

Notes:

  1. The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
  2. The Mineral Resource has been depleted with historical mined voids.
  3. No additional geological losses have been applied.
  4. Mineral Resources are reported as total Mineral Resources and are not attributed.

Underground Mineral Resources as at 3 August 2021

Area Mineral Resource Category Tonnes Density Grade Content
Cu Pb Ag Cu Pb Ag
Mt t/m3 % % ppm t t kg
Kombat East Indicated 0.10 2.83 1.69 1.55 11.50 1,667 1,526 1,133
Kombat Central 0.23 2.84 1.90 1.55 19.80 4,344 3,538 4,524
Kombat West 0.76 2.85 2.27 1.45 13.04 17,295 11,101 9,954
Asis West 5.53 2.83 2.79 0.87 20.78 154,337 48,224 114,823
Gap 0.32 2.79 2.25 0.18 11.58 7,164 568 3,691
Total Indicated 6.93 2.83 2.66 0.94 19.34 184,807 64,957 134,126
Kombat Central Inferred 0.01 2.88 2.02 2.74 0.01 187 254 0
Kombat West 0.13 3.68 5.01 10.53 0.06 6,371 13,389 8
Asis West 0.09 2.83 2.90 0.84 16.12 2,557 741 1,423
Gap 0.00 2.79 2.51 0.27 55.40 122 13 270
Asis Far West 1.04 2.80 2.55 0.36 9.11 26,495 3,758 9,452
Total Inferred 1.27 2.89 2.82 1.43 8.80 35,732 18,156 11,153

Notes:

  1. The underground Mineral Resource is below the depth limit and is declared at a CuEq cut-off of 1.5%.
  2. The Mineral Resource has been depleted with historical mined voids.
  3. No additional geological losses have been applied.
  4. Mineral Resources are reported as total Mineral Resources and are not attributed.

The above Mineral Resource estimate is the culmination of 18 months of work, first mapping historical drilling and historic mine production in three dimensions, and the re-logging and assaying of 50 years of stored drill core. Work was able to confirm historic assay results for copper, and assay silver for the first time, converting 86.5% of the global resource to Measured and Indicated confidence level of an NI 43-101 Mineral Resource estimate, which represents a robust open pit and underground Mineral Resource estimate that is projected to deliver more than 20 years at planned production levels.

The updated Mineral Resource has been prepared and classified by technical consultants Minxcon (Pty) Ltd (“Minxcon”) 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. For further information with respect to the key assumptions, parameters, risks, the mineral resource estimate, data verification, quality assurance and quality control (“QA/QC”) and other technical information, please refer to the technical report.

The technical report titled “NI 43-101 Mineral Resource Report on the Kombat Project, Namibia” dated September 16, 2021, has been filed on the SEDAR website at www.sedar.com and on the Company website at www.trigonmetals.com .

Qualified Person

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

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 Company’s Mineral Resources and Reserves, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat operations, the Company’s ability to restart the Kombat operations, the Company’s ability to obtain adequate investment and other financing, 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

Click to open the NI 43-101 Mineral Resource Report on the Kombat Project, Namibia

Trigon Metals Provides Progress Update on the Restart of its Kombat Mine

by

*Plan On Schedule And On Budget*

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

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

Onsite Activities

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

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

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

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

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

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

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

NI 43-101 Mineral Resource Estimate Update and Mining

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

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

Concentrate Purchaser Financing

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

About Kombat Mine

The Kombat Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for lead and zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Qualified Person

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

Cautionary Notes

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

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

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