Trigon Completes Acquisition of ‘Silver Hill’ Copper-Silver Exploration Project in Morocco and Files NI 43-101 Technical Report - Seite 2

The full technical report entitled “NI 43-101 – Technical Report on the Silver Hill Copper and Silver Project, Morocco” with an effective date of  September 24, 2020 has been posted to the Company’s website at https://www.trigonmetals.com and on SEDAR under Trigon’s issuer profile.

Response to COVID-19 in Morocco

Morocco continues to comply with the recommendations of the World Health Organization to reduce the spread of the virus. Trigon does not anticipate any delays to initializing its exploration program at Silver Hill as a result of COVID-19. The local team is ready to commence work on the Project beginning with a sampling program.

Terms of the Transaction

The Company has acquired a 100% equity interest in Technomine. Technomine owns 100% of the rights to the Silver Hill Project. As consideration, Trigon has paid to the Vendors CAD $500,000 in cash and issued 6,000,000 common shares to the vendors (the “First Payment”). On the one-year anniversary of the closing of the Transaction, Trigon must pay to the vendors CAD$400,000, and issue such number of Trigon common shares equal to CAD $250,000 (the “Second Payment”).

Upon the completion of an independent National Instrument 43-101 compliant mineral resource estimate at the Project showing at least 100,000 tonnes of contained copper and/or equivalent, Trigon shall issue such number of shares equal to CAD$1,250,000 to the vendors.

In addition, the Company has paid CAD$25,000 and issued 300,000 common shares to Majilias Inc. (the “Finder”) for its role as an arm’s length finder. The Finder shall also be entitled to a finder’s fee of 5% of the cash and share consideration comprising the Second Payment, when paid by Trigon.

Qualified Person

The technical information presented in this press release has been reviewed and approved 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 operations in Namibia, one of the world’s most prospective copper regions, where it 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.