press releases

Trigon Confirms 76m at 1.48%Cu and 8.9g/t Ag –22 metres from the planned East 600 pit at its Kombat Mine, Namibia

8 June 2023 by trigonmetals

CORRECTION NOTICE: Reissued with corrections to column headings in attached tables

TORONTO — Jun 8, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces drill results from the East 600 planned open pit, at the Kombat mine in Namibia (the “Project”). These holes were drilled to confirm known historical mineral resources drilled previously by the prior owner from the underground. These results are new to the East 600 area and represent some of the longest mineralized intercepts drilled from surface. East 600, also referred to as the ore capping zone, is located 400m east of the main pit and has been incorporated into our resource plan and mine plan.

Highlights of the Drill Results

Hole 2
Intersected 4.34m, 1.56% Cu, from 37m

Hole 3
Intersected 10m, 1.14% Cu, from 40m

Hole 4
Intersected 76m at 1.48%Cu, 8.9g/t Ag from 22m, including:

– 13m, 1.46% Cu, 5.7g/t Ag, from 3m, and
– 21m, 3.54%Cu, 17.9g/t Ag from 49m, and
– 11m, 1.39%Cu, 5.61g/t Ag from 87m.

Mining Update

Trigon has now completed one full month of mining at Kombat, and the ramp-up to full mining production is going well. The goal for May was 120,000t of mined rock, and 124,000t were mined. May was strictly waste tonnes, but high-grade mineralization has been exposed in several areas of the pit. The first ore tonnes are scheduled to be mined towards the end of June.

Blasts have occurred on schedule once a week, this schedule will be maintained until the mill starts at the end of July, whereupon blasts are scheduled twice a week. We anticipate mining rates will average 8,000 tpd when the mine is in full operation. However, in start-up mode mining rates have reached up to 10,000t on days when the team has pushed to test capacity.

Jed Richardson, Trigon’s President and CEO, commented, “Current drilling at East 600 is increasing our confidence of adding more high-grade ore and reducing our overall strip ratio. We will continue to test areas around the planned open pits; East 400, East 600, and East 900 as potential sources for adding near surface high-grade ore. In addition, drilling is planned for the Otavi area, 12km west of the Kombat mining permit to test the limbs of our 35km of mineralized strike-length corridor.”

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.

Figure 1: Map of the Kavango Program Area Showing the Location of Holes 2, 3 and 4 in the Kavango East Area The holes 2, 3 and 4 are located the heart of the Kavango Trend in the East 600 (Ore Cap) Pit.

Figure 2: Cross Section – Hole 2 Figure 2 shows the modelling done before the drilling of OC0002(Dip-60). It shows a copper intersection between 25-41.34m with 1.10% Cu between 35-41.34m.

Figure 3: Drill Core — Hole 2 The core pictured shows visible sulfide mineralization.

Figure 4: Cross Section – Hole 3 Figure 4 shows the modelling done before the drilling of OC0003(Dip-69.9). It shows a copper intersection between 3-65.15m with 1.14% Cu over 10m between 40-50m.

Figure 5: Drill Core from Hole 3 The core pictured in Figure 5 shows the clearly visible sulfide mineralization.

Figure 6: Cross section — Hole 4 Figure 6 shows the modelling done before the drilling of OC0004(Dip-44.3). This shows a copper intersection between 4-107, with traces of copper oxide between 4-7m, with copper sulfide mainly between 22-107m. There are three ore pockets, 1.26% Cu over 15m between 22-37m, 3.13%Cu over 24m between 47-71m and 1.29% Cu over 12m between 86-98m.

Figure 7: Drill Core from Hole 4 The core pictured in Figure 7, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core.

Table of Drilling Highlights

Hole	From (m)	To (m)	Length (m)	Cu%	Pb%	Zn%	Ag (ppm)
OC0002	37.00	38.00	1.00	2.81	0.36	0.01	2.50
OC0002	38.00	39.00	1.00	2.75	0.44	0.01	2.50
OC0002	39.00	40.00	1.00	2.76	2.9	0.01	9.32
OC0002	40.00	41.34	1.34	2.71	2.3	0.01	6.73
OC0003	40.00	41.00	1.00	2.81	3.21	0.01	9.37
OC0003	41.00	42.00	1.00	2.80	0.24	0.01	2.50
OC0003	42.00	43.00	1.00	2.77	0.15	0.01	2.50
OC0003	43.00	44.00	1.00	2.84	3.07	0.01	2.50
OC0003	44.00	45.00	1.00	2.83	1.45	0.01	2.50
OC0003	45.00	46.00	1.00	2.81	0.73	0.01	2.50
OC0003	46.00	47.00	1.00	2.80	0.34	0.01	2.50
OC0003	47.00	48.00	1.00	2.80	0.16	0.01	2.50
OC0003	48.00	49.00	1.00	2.84	0.42	0.01	2.50
OC0003	49.00	50.00	1.00	2.84	1.58	0.01	12.62
OC0004	22.00	23.00	1.00	2.85	0.81	0.92	2.50
OC0004	23.00	24.00	1.00	2.79	0.25	0.005	2.50
OC0004	24.00	25.00	1.00	2.87	2.97	0.01	12.47
OC0004	25.00	26.00	1.00	2.82	2.26	0.005	2.50
OC0004	26.00	28.00	2.00	2.80	2.47	0.005	2.50
OC0004	28.00	29.00	1.00	2.85	2.9	0.02	18.05
OC0004	29.00	30.00	1.00	2.77	0.57	0.005	5.68
OC0004	30.00	31.00	1.00	2.78	0.2	0.005	2.50
OC0004	31.00	32.00	1.00	2.78	0.65	0.005	2.50
OC0004	32.00	33.00	1.00	2.79	2.2	0.005	15.67
OC0004	33.00	34.00	1.00	2.75	0.64	0.005	2.50
OC0004	34.00	35.00	1.00	2.74	0.64	0.005	2.50
OC0004	35.00	37.00	2.00	2.81	0.53	0.005	2.50
OC0004	37.00	39.00	2.00	2.77	0.03	0.005	2.50
OC0004	39.00	41.00	2.00	2.76	0.03	0.005	2.50
OC0004	41.00	42.00	1.00	2.81	0.005	0.005	2.50
OC0004	42.00	43.00	1.00	2.79	0.06	0.005	2.50
OC0004	43.00	44.00	1.00	2.76	0.28	0.005	2.50
OC0004	44.00	47.00	3.00	2.78	0.005	0.005	2.50
OC0004	47.00	49.00	2.00	2.77	0.17	0.005	2.50
OC0004	49.00	51.00	2.00	2.70	0.65	0.005	2.50
OC0004	51.00	52.00	1.00	2.74	2.65	0.005	7.44
OC0004	52.00	53.00	1.00	2.58	2.08	0.005	6.40
OC0004	53.00	54.00	1.00	2.86	8.33	0.02	31.23
OC0004	54.00	55.00	1.00	2.81	5.44	0.005	19.03
OC0004	55.00	57.00	2.00	2.70	1.08	0.005	2.50
OC0004	57.00	59.00	2.00	2.77	0.67	0.005	2.50
OC0004	59.00	61.00	2.00	2.69	0.3	0.005	2.50
OC0004	61.00	62.00	1.00	2.93	0.6	0.005	2.50
OC0004	62.00	63.00	1.00	2.67	12.01	0.005	74.67
OC0004	63.00	65.00	2.00	2.94	6.75	0.005	41.50
OC0004	65.00	66.00	1.00	2.68	1.11	0.005	6.17
OC0004	66.00	68.00	2.00	2.88	6.78	0.01	46.80
OC0004	68.00	69.00	1.00	2.94	8.41	0.01	29.72
OC0004	69.00	70.00	1.00	2.72	1.34	0.01	2.50
OC0004	70.00	71.00	1.00	2.69	0.39	0.09	2.50
OC0004	71.00	72.00	1.00	2.81	0.04	1.56	2.50
OC0004	72.00	73.00	1.00	2.75	0.02	0.11	2.50
OC0004	73.00	75.00	2.00	2.74	0.005	0.005	2.50
OC0004	75.00	77.00	2.00	2.80	0.005	0.08	2.50
OC0004	77.00	78.00	1.00	3.40	0.15	0.2	74.48
OC0004	78.00	79.00	1.00	2.97	0.11	0.07	23.00
OC0004	79.00	80.00	1.00	2.80	0.27	0.08	2.50
OC0004	80.00	81.00	1.00	2.74	0.07	0.72	2.50
OC0004	81.00	82.00	1.00	2.79	0.18	0.38	2.50
OC0004	82.00	83.00	1.00	2.75	0.15	0.39	2.50
OC0004	83.00	84.00	1.00	2.76	0.02	0.23	2.50
OC0004	84.00	85.00	1.00	2.73	0.04	0.5	2.50
OC0004	85.00	86.00	1.00	2.78	0.05	0.05	2.50
OC0004	86.00	87.00	1.00	2.86	0.12	0.005	2.50
OC0004	87.00	88.00	1.00	2.85	1.48	0.02	2.50
OC0004	88.00	89.00	1.00	2.80	1.63	0.005	2.50
OC0004	89.00	90.00	1.00	2.80	0.87	0.005	2.50
OC0004	90.00	91.00	1.00	2.78	1.00	0.005	2.50
OC0004	91.00	92.00	1.00	2.77	1.07	0.01	2.50
OC0004	92.00	93.00	1.00	2.79	1.03	0.005	2.50
OC0004	93.00	94.00	1.00	2.91	4.04	0.01	29.71

Quality Assurance & Quality Control (QA/QC):

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

Qualified Person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.

Renmark Financial to Host Virtual Non-Deal Roadshows Next Month

Trigon will be participating in a live Virtual Non-Deal Roadshow session on Wednesday, June 14, 2023. Trigon welcomes stakeholders, investors, and other individual followers to register and attend this live event.

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

REGISTER HERE:
Wednesday, June 14, 2023 at 2:00 PM ET:
https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-tsx-v-tm-otcqb-pntzf-2023-06-14-120000

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

Trigon Metals Inc.

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

Trigon Metals Announces First Concentrate Production at Kombat Mine, Namibia

5 January 2022 by trigonmetals

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.

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

29 December 2021 by trigonmetals

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.

For further information, contact:
Jed Richardson
+1 647 276 0002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Cautionary Notes

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 Files NI 43-101 Technical Report and Feasibility Study on Kombat Mineral Reserve

20 December 2021 by trigonmetals

TORONTO, ON – December 20, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) has filed an updated National Instrument 43-101 compliant technical report supporting the Mineral Reserve estimate and feasibility study for the open pit mine at the Kombat project in Namibia (“Kombat”).

The updated Mineral Reserve estimate for the open pit is set out below.

Kombat Project Open Pit Mineral Reserve Estimation as at 3 August 2021

Mineral Reserve Category	Diluted Tonnes	Grade			Content
	Diluted Tonnes	Cu	Pb	Ag	Cu	Pb	Ag
	Mt	%	%	ppm	t	t	kg
Probable	1.54	1.14	0.28	7.49	17,559	4,301	11,508
Total	1.54	1.14	0.28	7.49	17,559	4,301	11,508

Notes:

The Mineral Reserve estimation includes only diluted Indicated Mineral Resources which have been converted to Probable Mineral Reserves.
No Inferred Mineral Resources have been included in the Mineral Reserve estimation.
Mineral Reserve estimation stated at a cut-off of 0.65% Cu.
The Ore Reserve estimation was completed using an average Cu price of USD7,054/t and average Ag price of USD20.15/oz over the life of mine.
The Pb in the Mineral Reserve estimation under current offtake agreement will not contribute to revenue but will carry a penalty.
The Mineral Reserves are reported as total Mineral Reserves and are not attributed.

The Mineral Resource estimate for Kombat (open pit and underground) as updated on August 3, 2021 is set out in the table below.

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

Mineral Resource Estimate Classification	Tonnes	Cu	Pb	Ag
Mineral Resource Estimate Classification	Mt	%	%	g/t
Indicated	12.22	1.94	0.70	13.67
Inferred	1.91	2.19	1.79	6.13

Notes:

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.
The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq.
The CuEq (copper equivalent) is based on copper and silver only (excludes lead).
Commodity prices used for the cut-off grades: Cu = USD 9,100/t, Pb = USD 2,500/t, and Ag = USD 27/oz.
Historical mine voids have been depleted from the Mineral Resource.
Mineral Resources are reported as total Mineral Resources and are not attributed.

The Indicated Mineral Resource estimate comprises 5.28Mt from the open pit, at a grade of 1.00% copper, and 6.93Mt from the underground at a grade of 2.66% copper.

The updated Mineral Reserve estimate 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 reserve 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 Technical Report on the Kombat Project, Namibia” dated December 20, 2021, has been filed on the SEDAR website at www.sedar.com and on the Company website at www.trigonmetals.com.

Qualified Person

Mr. D van Heerden (B Eng (Min.), MCom (Bus. Admin.), MMC, Pr.Eng. No. 20050318, FSAIMM, AMMSA), Mr. U Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat., MGSSA), and Mr. NJ Odendaal (BSc (Geol.), BSc (Min. Econ.), MSc (Min. Eng.), Pr.Sci.Nat., FSAIMM, MGSSA) of Minxcon are all “qualified persons” as such term is defined in NI 43- 101 and CIM definition standards and have reviewed and approved the technical information and data included in this press release. Mr. van Heerden, Mr. Engelmann and Mr. Odendaal are considered independent of Trigon.

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.

For further information, contact:

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

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

20 December 2021 by trigonmetals

TORONTO, ON – December 20, 2021 – Trigon Metals Inc. (TSXV:TM) (OTC PINK:PNTZF) (“Trigon” or the “Company”) is pleased to announce that Friday, December 17^th, 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.

For further information, contact:

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

Trigon Metals Reports Mineral Reserve and Updated Feasibility Study for the Kombat Open Pit

15 December 2021 by trigonmetals

TORONTO, ON – December 14, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) announces an updated National Instrument 43-101 compliant Mineral Reserve estimate and feasibility study for the open pit mine at the Kombat project in Namibia (“Kombat”).

Kombat Open Pit Mineral Reserve Estimate

In 2018, the Company published a Mineral Reserve estimate for the Kombat open pit, together with a feasibility study on the open pit project. The Mineral Resource estimate for Kombat was updated in 2020 and again on August 3, 2021, based on the confirmatory resampling program undertaken in early 2021. At that time, as the updated Mineral Resource estimate differed from the estimate used for the 2018 feasibility study, the Company moved the Kombat open pit back to a Mineral Resource estimate stage, as the Mineral Reserves, technical, engineering and economic studies had to be redone to align with the updated Mineral Resources.

The Mineral Resource estimate for Kombat (open pit and underground) as updated on August 3, 2021 is set out in the table below.

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

Mineral Resource Estimate Classification	Tonnes
	Tonnes	Cu	Pb	Ag
	Mt	%	%	g/t
Indicated	12.22	1.94	0.70	13.67
Inferred	1.91	2.19	1.79	6.13

Notes:

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.
The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq.
The CuEq (copper equivalent) is based on copper and silver only (excludes lead).
Commodity prices used for the cut-off grades: Cu = USD 9,100/t, Pb = USD 2,500/t, and Ag = USD 27/oz.
Historical mine voids have been depleted from the Mineral Resource.
Mineral Resources are reported as total Mineral Resources and are not attributed.

The Indicated Mineral Resource estimate comprises 5.28Mt from the open pit, at a grade of 1.00% copper, and 6.93Mt from the underground at a grade of 2.66% copper.

A new feasibility study has now been completed on the Kombat open pit, and an updated Mineral Reserve estimate for the open pit is set out below.

Kombat Project Open Pit Mineral Reserve Estimation as at 3 August 2021

Mineral Reserve Category	Diluted Tonnes	Grade			Content
	Diluted Tonnes	Cu	Pb	Ag	Cu	Pb	Ag
	Mt	%	%	ppm	t	t	kg
Probable	1.54	1.14	0.28	7.49	17,559	4,301	11,508
Total	1.54	1.14	0.28	7.49	17,559	4,301	11,508

Notes:

The Mineral Reserve estimation includes only diluted Indicated Mineral Resources which have been converted to Probable Mineral Reserves.
No Inferred Mineral Resources have been included in the Mineral Reserve estimation.
Mineral Reserve estimation stated at a cut-off of 0.65% Cu.
The Ore Reserve estimation was completed using an average Cu price of USD7,054/t and average Ag price of USD20.15/oz over the life of mine.
The Pb in the Mineral Reserve estimation under current offtake agreement will not contribute to revenue but will carry a penalty.
The Mineral Reserves are reported as total Mineral Reserves and are not attributed.

As set out above, although the Kombat underground Mineral Resource estimate does contain resources in the Indicated category, only the open pit Mineral Resources have been considered in the Mineral Reserve conversion process at this stage, as the underground study work is still based on a Preliminary Economic Assessment level of confidence and requires additional work which will be undertaken as a second phase of the restart of the Kombat mine.

Feasibility Study

Production and Processing

The Kombat open pit mine has a potential life of mine of 5 years, mining a total of 1.5Mt ore, at an average grade of 1.14% copper and 7.49 g/t silver.

Item	Unit	Kombat
Open Pit Waste Tonnes Mined	kt	10,488
Open Pit Ore Tonnes Mined	kt	1,536
Stripping Ratio	to:tw	6.83
Total Tonnes Mined	kt	12,024
Average Cu Grade Mined	%	1.14%
Average Ag Grade Mined	g/t	7.49
Average Cu Recovery	%	91.9%
Total 22% Cu Concentrate	kt	73
LoM	Years	5

Capital

The total start-up capital for the Kombat open pits, including the refurbishment of the plant, is USD10 million, including contingencies. All of the capital, excluding stay in business capital is spent in year 1, and the majority of this capital has already been spent in 2021 to date.

Capital Expenditure	Unit	LoM	Year 1
Total Mining Capital	USDm	0.58	0.58
Total Plant Capital	USDm	10.82	9.01
Total Other Capital	USDm	0.50	0.50

Total Direct Capital over LoM	USDm	9.11	9.11
Total SIB Capital	USDm	1.87	0.06
Total Capital Contingencies	USDm	0.91	0.91
Total Combined Capital	USDm	11.90	10.08

Revenue and Operating Costs

The table below summarises the turnover and costs from the open pit mine, per recovered copper equivalent pound.

Net Turnover	USD/Copper Eq. lb	3.46
Mine Cost	USD/Copper Eq. lb	1.21
Plant Costs	USD/Copper Eq. lb	0.78
Other Costs	USD/Copper Eq. lb	0.83
Direct Cash Costs (C1)	USD/Copper Eq. lb	2.81
Capex	USD/Copper Eq. lb	0.36
Production Costs (C2)	USD/Copper Eq. lb	3.18
Royalties	USD/Copper Eq. lb	0.10
Corporate Overheads	USD/Copper Eq. lb	–
Fully Allocated Costs (C3)	USD/Copper Eq. lb	3.27
EBITDA*	USD/Copper Eq. lb	0.55

Kombat Open Pit Restart

The restart of the open pit mine at Kombat is reaching its final stages, with open pit mining having resumed in October 2021, in order to produce run of mine for the commissioning of the processing plant in December 2021. The refurbishment of the plant is almost complete with long lead equipment items currently being installed. The project remains on track for first production of copper concentrate in early 2022.

Updated Production Guidance

The Company provides updated production forecasts based on the latest Mineral Resource and Reserve estimates for both the open pit and underground projects of 3,500 tons for 2022 (open pit only), increasing to 14,000 tons by 2024, with the re-commissioning of the underground mine and the doubling of the current capacity of the processing plant.

Jed Richardson, Trigon’s CEO, commented, “As we reach the culmination of the process to restart the open pit mine, we will now start focusing on the second phase of the Kombat project, being the re-opening of the historic higher grade, long life underground mine, which is where we see the significant potential for this project and for Trigon to grow into a mid-tier copper producer.”

A NI 43-101 technical report with respect to the Mineral Reserve estimate and Feasibility Study will be filed under the Company’s profile on SEDAR within 45 days of this press release.

Qualified Persons

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 contains information with respect to certain Non-GAAP measures. These measures are included because these statistics are key performance measures that management may use to monitor performance. Management may use these statistics in future to assess how the Company is performing to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

This news release may contain forward-looking statements. These statements include statements regarding the Company’s Mineral Resources and Reserves, Feasibility Study, 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, the Company’s operations, the economic viability of mining at the Kombat Mine and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties including, without limitation, risks and uncertainties inherent to economic studies; risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Trigon common shares; insurance; competition; currency fluctuations; loss of key employees; uncertainties and risks inherent with doing business in a developing country, including, without limitation, war, corruption, terrorism, political instability and the uncertainty of the rule of law; and other risks of the mining industry. 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 filed at www.sedar.com from time to time. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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

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