Trigon Provides Additional Details of Kombat Trend Drilling, Namibia

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces additional results from the drilling of new mineralization targets at its Kombat Mine in Namibia (the “Project”) with key highlights from the drilling campaign. The reported results are from the East 400 area, 150 metres east of the Kavango Pit, discussed in recent press releases (August 4, September 15, and November 9, 2022 and January 21, 2023), the implications being a favourable confirmation of the Kombat trend mineralization.

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Figure 1: Map of the East 400 Program Area Showing Location of Holes 4C, 4D, 5C and 6C in East 400 Program Area Verification holes 4C, 4D, 5C and 6C are in the heart of the East 400 mineralized zone and should be considered infill holes confirming mineralization between holes previously drilled. The results reported here are notable because of the length of the intercepts above the projected reserve grade.

Highlights of the Drill Results

Hole 4C (358 azimuth, -58 dip)
- 13m, 1.78%Cu, from 28m

Hole 4D (356 azimuth, -55 dip)
- 3m, 2.69%Cu, 28.7g/tAg, from 22m

Hole 5C (2 azimuth, -85 dip)
- 10m, 1.53%Cu, from 21m

Hole 6C (352 azimuth, -52 dip)
- 12m, 1.98%Cu, from 41m

The holes reported are from drilling testing gaps in the known mineralization previously thought to be barren. Holes 4C, 4D, 5C and 6C are verification holes testing continuity between areas previously drilled. The results are some of the longest intercepts drilled from surface and with both sulfide and oxide mineralization.

Jed Richardson, Trigon’s President and CEO, commented, “We are working towards a first blast in the open pit in April as planned. The team is now working on a detailed mine plan and the mine contractor is currently working on our tailings facility and they have all of the necessary equipment in place for start-up.”

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.

Table of Drilling Highlights

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 ICP-OES 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 this Week

Trigon will be participating in two live Virtual Non-Deal Roadshow sessions on Thursday, February 23, 2023. Trigon welcomes stakeholders, investors, and other individual followers to register and attend this live event.

The presentation will feature Jed Richardson, Chief Executive Officer and President and Aidan Sullivan, Vice-President, Investor Relations. Topics to be covered will include the latest investor presentation followed by a live Q&A. Investors interested in participating in this event will need to register using the links below. As a reminder, registration for the live event may be limited but access to the replay after the event will be on The Company’s Investor website.

Click a link below to register:

Thursday, February 23, 2023
10:00 a.m. ET: https://www.renmarkfinancial.com/live-registration/renmark-virtual-non-deal-roadshow-tsx-v-tm-otcqb-pntzf-2023-02-23-100000
4:00 p.m. ET: https://www.renmarkfinancial.com/live-registration/renmark-virtual-non-deal-roadshow-tsx-v-tm-otcqb-pntzf-2023-02-23-130000
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.

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