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Trigon Metals Announces Marketed Private Placement for C$5.0 Million

TORONTOSept. 1, 2020  – Trigon Metals Inc. (TSXV: TM) (“Trigon” or the “Company“) announces that it has entered into an agreement with Cormark Securities Inc. (“Cormark“) as lead agent and including M Partners Inc. (collectively with Cormark the “Agents“), pursuant to which they have agreed to act as agents in connection with a fully marketed private placement offering of units of the Company (the “Units“) at a price of $0.35 per Unit for aggregate gross proceeds to the Company of a minimum of $5.0 million (the “Offering“).

Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant“). Each Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of $0.45 for a period of 36 months following the closing of the Offering.

The Company has granted to the Agents an option (the “Over-Allotment Option“), exercisable in whole or in part, in the sole discretion of the Agents, for a period of 30 days from and including the closing date of the Offering, to purchase additional Units, additional Shares and/or additional Warrants, in an aggregate amount not to exceed 15% of Units, Shares or Warrants sold pursuant to the Offering, on the same terms and at the same price as the Units, Shares and Warrants sold under the Offering, to cover over-allotments, if any, and for market stabilization purposes.

The net proceeds of the Offering will be used to acquire additional silver-copper projects associated with the Silver Hill Project in Morocco, for exploration on the Silver Hill Project and general corporate purposes.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange (the “TSXV”) and is scheduled to close on or about September 22, 2020.

The Agents will be entitled to a cash fee and compensation warrants on the sale of Shares in accordance with the policies of the TSXV.

This new 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 or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 MoroccoNamibia is one of the world’s most prospective copper regions, where Trigon has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking information and forward-looking statements under applicable securities laws, which information and/or statements relate to future events or future performance (including, but not limited to, the size of the Offering, the participation by insiders of the Company, the proposed use of proceeds and the anticipated closing date thereof) and reflect management’s current expectations and assumptions. Such forward-looking information and statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that such forward-looking information and statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, the availability of financing, market conditions and future prices for copper, gold and silver, changes in personnel, actual results of exploration activities, environmental risks, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking information and statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.comThe forward-looking information and statements in this news release are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

Neither the 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.

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Trigon Metals