Trident Royalties PLC Announces Portfolio Update: Positive Asset-Level Progress

Portfolio Update: Positive Asset-Level Progress by Project Operators

LONDON, UK / ACCESSWIRE / August 7, 2023 / Trident Royalties Plc ("Trident" or the "Company")(AIM:TRR)(OTCQX:TDTRF), the diversified mining royalty company, is pleased to note significant progress by the operators of several projects over which it holds royalties and offtakes.

Thacker Pass Lithium Royalty¹

• Lithium Americas announced that at its Annual General Meeting, shareholders overwhelmingly approved the separation of the company into Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. Thacker Pass will be held within Lithium Americas Corp.
• This change in structure, subject to the satisfaction of customary closing conditions, will allow a second tranche investment of US$330 million from General Motors into the new Lithium Americas Corp. The new structure may also help in obtaining US government assistance for transition material funding.
• Trident owns a 60% interest in a 1.75% gross revenue royalty (1.05% net to Trident) over the Thacker Pass lithium project.

Greenstone Gold Offtake^2,3

• Equinox Gold announced that the Greenstone Project is 85% complete and is progressing on schedule and on budget. First gold is expected in H1 2024.
• US$976 million has been spent to date, with all purchase orders and construction contracts for project completion in place to develop one of the largest gold mines in Canada, with annual gold production of more than 400,000 ounces per year over the first five years, and more than five million ounces of gold production expected over its 14-year life.
• Trident has a guarantee from Premier Gold Mines Limited (a subsidiary of Equinox) that the annual offtake cap of 58,500 ounces will be delivered in full in 2024 and 2025. Any shortfall in deliveries will be compensated at a rate of US$23.50 per ounce (totalling US$1.38 million in revenue to Trident). The tenure of the offtake remains unchanged, through to 1 March 2027.

Eagle Gold Offtake^4,5

• Victoria Gold announced a very strong start to 2023, with H1 2023 gold production 47% higher than H1 2022.
• This strong performance follows an Updated Technical Report released earlier in the year which highlighted average annual gold production of 202,000 ounces per year over the first 8 years, with total gold production of over 2 million ounces over a 12-year mine life.
• Trident is entitled to an offtake for 25% of gold production up to a cap of 1,111,500 delivered ounces (nearly 1M ounces remaining).

Sugar Zone Gold Offtake⁶