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Trigon’s Kombat Trend Drilling Continues to Reveal Growing Magnitude of East 400 Area at Kombat Mine, Namibia

TORONTO — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces results from the drilling of new mineralization targets at its Kombat Mine in Namibia (the “Project”). These 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), extending the Kombat trend mineralization.

Highlights of the Drill Results

Hole 2A (181 azimuth, -71.8 dip)
– 8m at 1.10% copper 94-102m

Hole 2B (172.7 azimuth, -58.8 dip)
– 9m at 0.9% copper 9-18m and,
– 11m at 0.9% copper 68-79m

Hole 4A (184 azimuth, -43.2 dip)
– 5m at 3.98% copper and 8.7 g/t silver 44-49m

Hole 4B (172 azimuth, -49.4 dip)
– 17m at 1.0% copper and 15.50 g/t silver 0-17m

Figure 1: Map of the East 400 Program Area - The CenEast hole is east of the majority of the drilling that has been reported from this program in the area of the Kavango pit, initially disclosed in the press release dated May 17, 2022. It lies between East 200 affectionately called the Fat Avocado and what was previously thought to be a separate body situated to the east. (Photo: Business Wire)

Figure 1: Map of the East 400 Program Area – The CenEast hole is east of the majority of the drilling that has been reported from this program in the area of the Kavango pit, initially disclosed in the press release dated May 17, 2022. It lies between East 200 affectionately called the Fat Avocado and what was previously thought to be a separate body situated to the east. (Photo: Business Wire)

Figure 2: Cross Section E400 Hole 2A and 2B - The draft resource modelling done before the drilling of E400-02A & E400-02B could only show a very small resource block (yellow grid at the bottom of the section). By intersecting good Copper grades outside of the expected E200 Resource Block, there is a potentially significant increase in the E200 Resource Block tonnage and grade. Also, since there are good Copper intersections closer to surface, the Stripping Ratio of a potential open pit is expected to be improved. NOTE: Stripping Ratio = Ratio of Ore to Waste (Photo: Business Wire)

Figure 2: Cross Section E400 Hole 2A and 2B – The draft resource modelling done before the drilling of E400-02A & E400-02B could only show a very small resource block (yellow grid at the bottom of the section). By intersecting good Copper grades outside of the expected E200 Resource Block, there is a potentially significant increase in the E200 Resource Block tonnage and grade. Also, since there are good Copper intersections closer to surface, the Stripping Ratio of a potential open pit is expected to be improved. NOTE: Stripping Ratio = Ratio of Ore to Waste (Photo: Business Wire)

Figure 3: Drill Core from Hole 2A - The core pictured in Figure 3 shows the clearly visible sulfide mineralization. (Photo: Business Wire)

Figure 3: Drill Core from Hole 2A – The core pictured in Figure 3 shows the clearly visible sulfide mineralization. (Photo: Business Wire)

Figure 4: Location of Holes 2A, 2B, 4A and 4B in East 400 Program Area - Verification holes 2A, 2B, 4A and 4B are in the heart of the East 400 mineralized zone discussed in previous Trigon press releases 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. (Photo: Business Wire)

Figure 4: Location of Holes 2A, 2B, 4A and 4B in East 400 Program Area – Verification holes 2A, 2B, 4A and 4B are in the heart of the East 400 mineralized zone discussed in previous Trigon press releases 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. (Photo: Business Wire)

Figure 5: Cross section E400 Holes 4A and 4B - Drilling E400-04A has confirmed the high-grade near-surface Copper intersections suggested by historical drilling. In addition, E400-04B has also intersected high-grade copper on surface and just below which is expected to enhance the Stripping Ratio of a potential open pit. Drilling the planned E400-04C will check for high-grade copper extension to the north, while the planned shallow E400-04D will confirm the position of the contact which is quite complex in this area. (Photo: Business Wire)

Figure 5: Cross section E400 Holes 4A and 4B – Drilling E400-04A has confirmed the high-grade near-surface Copper intersections suggested by historical drilling. In addition, E400-04B has also intersected high-grade copper on surface and just below which is expected to enhance the Stripping Ratio of a potential open pit. Drilling the planned E400-04C will check for high-grade copper extension to the north, while the planned shallow E400-04D will confirm the position of the contact which is quite complex in this area. (Photo: Business Wire)

Figure 6: Drill Core from E400 Hole 2B - The Core pictured in Figure 6, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core. (Photo: Business Wire)

Figure 6: Drill Core from E400 Hole 2B – The Core pictured in Figure 6, again shows shiny golden-coloured chalcopyrite mineralization (copper mineral) throughout the drill core. (Photo: Business Wire)

The holes reported are from drilling testing gaps in the known mineralization previously thought to be barren. Holes 2A, 2B, 4A and 4B 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, “Surface drilling continues for the Kombat open pit, we continue to be pleased with grades and the length of the intercepts in this area of our planned pit. We have completed all of the targeted holes for the mine plan for open pit restart scheduled to commence next quarter. We will announce the additional holes as those results become available. The final data is being collected and work has commenced on the mine plan, however, exploration drilling will continue as drills move to test new areas at surface.”

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.

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.

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

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

Website: www.trigonmetals.com

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