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

Trigon Metals

Exploring Copper and Silver in Africa’s Best Jurisdictions

news

Trigon Metals Announces Upsizing Of Private Placement Financing to C$4 Million

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TORONTO, ON – January 10, 2022 –  Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce that due to strong investor demand, the Company is increasing its previously announced non-brokered private placement financing from total gross proceeds of up to $2,000,000 to total gross proceeds of up to $4,000,000 (the “Offering”). The Offering will now consist of up to 8,888,888 units (the “Units”) at a price of $0.45 per Unit.

Each Unit is comprised of one common share of Trigon (a “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 Share at a price of $0.50 for a period of 24 months following the date hereof, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.75 or higher on the TSX Venture Exchange for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

Closing of the Offering is expected to occur on or about January 20, 2022 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. In connection with the Offering, a finder’s fee may be payable in line with the policies of the TSX Venture Exchange.

All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one-day. The Company intends to use the net proceeds from the Offering for the recommencement of mining at the Kombat mine and for working capital and general corporate purposes.

Trigon Metals Inc.

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

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Trigon Metals Announces C$2 Million Private Placement Financing

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Jan. 05, 2022 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) intends to complete a non-brokered private placement of up to 4,444,444 units (the “Units”) at a price of $0.45 per Unit for gross proceeds of up to $2,000,000 (the “Offering”).

Each Unit is comprised of one common share of Trigon (a “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 Share at a price of $0.50 for a period of 24 months following the date hereof, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.75 or higher on the TSX Venture Exchange for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

Closing of the Offering is expected to occur on or about January 20, 2022 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. In connection with the Offering, a finder’s fee may be payable in line with the policies of the TSX Venture Exchange.

All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one-day. The Company intends to use the net proceeds from the Offering for the recommencement of mining at the Kombat mine and for working capital and general corporate purposes.

Trigon Metals Inc.

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

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

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Trigon Metals Announces First Concentrate Production at Kombat Mine, Namibia

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TORONTO, ON, January 5, 2022 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to announce the first copper concentrates were produced at the Kombat Mine in Namibia on Thursday, December 30, 2021. Teams worked through the Christmas period to complete the install of filter presses and run ore through the full production process to achieve this milestone, meeting management’s forecasted goal.

The concentrate produced exceeded the expectations of management, demonstrating that the combination of new equipment from Xinhai and refurbished equipment from the historic operation are operating well. The feed material for this initial production was sub optimal lower grade ore, while grind size, residence times and reagent use are being optimized, but satisfactory copper grades were achieved approaching 20% copper and over 600 g/t silver, well ahead of expectation at this stage of start-up. Production continues, building up to first concentrate shipments toward the end of this month, January 2022. A declaration of full commercial production is forecast for March 2022, as the mine production ramps up and systems are optimized.

Jed Richardson, President and CEO of Trigon, commented, “This first production is a tremendous milestone for the Company, the Kombat community and our shareholders. Successful concentration of copper represents a major de-risking of the mine. A functioning mill is the primary technical hurdle in a mine’s operation, and that hurdle has been overcome at Kombat. I cannot overstate how proud I am of our team in reaching this goal; battling through shipping challenges, COVID-19 and working through the Christmas holidays.”

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 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 timing of commercial production and ramp up at 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

 

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Trigon Metals Announces Appointment of Paul Bozoki as Chief Financial Officer

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TORONTO, ON – December 29, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) today announces that it has appointed Paul Bozoki as Chief Financial Officer, effective immediately.

Mr. Bozoki is a Chartered Accountant and holds an MBA from the Richard Ivey School of Business with over 25 years of accounting, tax and corporate finance experience working with development stage companies and has been involved with projects in Zimbabwe, Mali, Mozambique and the Democratic Republic of Congo. From 2007 through September 2010, he was the Chief Financial Officer of CD Capital Partners, a privately held real estate development firm focused on developing mixed use retail and office real estate in Russia, Ukraine and Romania. Mr. Bozoki is experienced in matters of international taxation and foreign capital markets and began his career at Ernst & Young LLP where he spent six years auditing clients in mining and other industries in Canada, Australia and Hungary.

Paul Bozoki is a former CFO and CEO of Kombat Copper, having served as Company President and on its Board of Directors. Mr. Bozoki brings a wealth of financial and negotiating experience to the Company, which will greatly assist as the Kombat Mine moves forward to full production within the next year.

Jed Richardson, President, CEO and Director of Trigon Metals, commented: “The Board and Management of Trigon Metals are pleased to welcome Paul as our new CFO. Paul’s track record of responsible financial management of junior companies, coupled with his extensive experience in project funding and M&A will play a key role in our continued progress toward becoming a full-scale copper producer and explorer in mine-friendly African jurisdictions.”

Mr. Bozoki replaces Ms. Deborah Battiston, the former Chief Financial Officer of the Company. The management and board of directors of the Company would like to thank Ms. Battiston for her past service and her continued support 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.

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 0002
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 appointment of a new CFO 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.

Trigon Metals Announces First Copper Flotation Successful at Kombat Processing Plant, Namibia

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TORONTO, ON – December 20, 2021 – Trigon Metals Inc. (TSXV:TM) (OTC PINK:PNTZF) (“Trigon” or the “Company”) is pleased to announce that Friday, December 17th, 2021, marked the first flotation of copper concentrate at the newly refurbished Kombat Mill. In addition, all long lead items for the Kombat processing plant, as bought from Yantau Xinhai Industry & Trade Co., Ltd (“Xinhai”), have arrived in Namibia and have been transported to the mine for installation.

The refurbishment of the processing plant is now largely complete, and commissioning has commenced with the first successful float of copper concentrate. The Primary crusher is now fully operational, coarse ore bins are full, grinding is running in batches and flotation is being tested. The filter press for drying final concentrate for sale is currently being installed, and first concentrate will be produced ahead of the year end goal.

Commenting, Jed Richardson, President and CEO of Trigon, said, “We are extremely pleased to be installing the final major equipment items in the plant, and to be nearing the completion of the restart of the Kombat Mine. The year 2021 has been exciting for Trigon and the team at Kombat has managed the project well in terms of meeting timelines and budgets. We are looking forward to starting the new year as a producing mine, and to continuing our growth in 2022.”

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 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 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 Completes First Drawdown of US$5 Million Project Finance Facility with IXM And Signs Offtake Agreement

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TORONTO, ON – November 23, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce that it has satisfied all of the conditions precedent to funding pursuant to its credit agreement with IXM SA (“IXM”) for a US$5 million project finance facility for the restart of the Kombat mine, as announced on October 28, 2021.

The first tranche of the credit facility of US$2.5 million will be drawn down immediately, with the second tranche consisting of the remaining US$2.5 million anticipated to be drawn down in December 2021, subject to conditions precedent for that tranche, including a requirement of further funding support from Trigon, as required.

Trigon and IXM have now also signed the offtake agreement for the purchase of copper concentrate by IXM from the Kombat mine.

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. The company 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.

Commenting, Jed Richardson, President and CEO of Trigon, said, “We are pleased to close both the funding and offtake arrangements with IXM. We are now reaching the final stages of the restart activities at Kombat, with the plant planned to be commissioned in December, and first concentrates expected in early 2022. All our focus is now on achieving these targets.”

About the Kombat Project

The Kombat 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 ability to complete the second drawdown; 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 0002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

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

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

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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