(TheNewswire)
Vancouver, British Columbia / TheNewswire / March 2
2017. Triumph Gold Corp. (formerly Northern Freegold Resources Ltd.) (TSX-V: TIG)
(“Triumph” or the “Company”) is pleased to announce that it has completed a private placement financing of 11,880,000 flow through
shares of Triumph (the “Offering”). The Offering was sold at a price of $0.528 per share for proceeds of $6,272,640.
The private placement is part of a charity flow through arrangement through which Goldcorp Inc. (“Goldcorp”) was the end
purchaser of the shares sold in the Offering. As a result of the private placement Goldcorp now owns approximately 19.9% of
the Company’s issued and o utstanding shares.
John Anderson, Chairman of Triumph commented: “We are very pleased to welcome Goldcorp as a Triumph
shareholder. We view this investment as a validation of our exploration philosophy and look forward to working with
Goldcorp’s technical team as we continue to advance the Freegold Mountain project.”
Goldcorp has the right to maintain its pro rata ownership percentage in the Company during future
financings and the right (but not the obligation) to participate in any future equity financings to the extent required to allow
Goldcorp to maintain its equity ownership interest in Triumph to a maximum of 19.9% of the issued and outstanding common shares.
Goldcorp will also have a 10 business day right of first refusal to match certain non-equity financing and tolling
arrangements related to future exploration on the Company's properties.
The proceeds of the Offering will be used for exploration at the Company’s Freegold Mountain
project. Work done in 2016 identified an early stage of porphyry-style mineralization at the Revenue
and Nucleus deposits that had not been targeted during past exploration. Based on that work, and the discovery of a new
porphyry showing at the Generation Zone, four new exploration targets were defined and will be drill-tested during the 2017 field
season. In addition, the newly assembled (2016) technical team will evaluate other showings on the property using the same
highly cost effect review techniques that were successfully applied to Revenue and Nucleus in 2016.
Triumph has been advised that Goldcorp acquired ownership of the 11,880,000 common shares of Triumph
at a purchase price of $0.40 per common share for a total purchase price of $4,752,000. The common shares acquired by
Goldcorp represent approximately 19.9% of the issued and outstanding common shares of Triumph. Prior to this acquisition
Goldcorp did not own any securities of Triumph. Goldcorp advises that it acquired the common shares for investment purposes
and will evaluate its investment in Triumph from time to time and may, based on such evaluation, market conditions and other
circumstances, increase or decrease shareholdings as circumstances require. The exemption relied on for the acquisition of the
common shares is Section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions. A copy of the Early Warning
report to be filed by Goldcorp in connection with the acquisition will be available on Triumph’s SEDAR profile. Goldcorp’s
head office is located at Suite 3400 – 666 Burrard St. Vancouver, BC, V6C 2X8.
All securities issued in connection with this financing will be subject to a four month hold period
expiring July 2, 2017 in accordance with applicable Canadian securities laws. Upon completion of the private placement, the
Company will have 59,694,537 common shares issued and outstanding. No finder's fees will be paid for the
placement.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company.
Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in
Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo, Vice
President Exploration of the company and a qualified person for the purposes of National Instrument 43-101 -- Standards of
Disclosure for Mineral Properties of the Canadian Securities Administrators.
On behalf of the Board of Directors
Signed "Paul Reynolds"
Paul Reynolds, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution in the United States or to U.S. wire services.
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