Trigon Metals Delivers Operational Insights and Financial Highlights for the Quarter Ending December 31, 2023 - Seite 2

Mining has moved to the long-lived ore capping pit, increasing access to higher-grade portions of the deposit. Additional high-grade ore is now being provided with the commencement of underground mining. Mining training for underground operations commenced in January 2024, with production results expected in Q4 2024.

The upcoming twelve months mark a pivotal period as Kombat's underground operations resume after a 17-year hiatus in care and maintenance. To manage restart risks and ensure a high-grade product for the plant, Trigon has reviewed its strategy, mine planning, and capital for both open pit and underground operations.

Progress in dewatering the Asis West mine's two shafts is substantial, with the first planned mining shaft currently dewatered down to 250 meters from the collar to the 8th level. Accelerated underground mining will access higher-grade ore, with production ramping up to 15 thousand tonnes per month (“ktpm”) of high-grade ore in Q1 2025. This shift displaces 15ktpm of lower-grade open pit ore, maintaining an aggregate ore production of 30ktpm, enhancing overall production quality and thus margin and cash flow.

Given these developments, Trigon has decided to postpone the expansion of its processing plant capacity from 30ktpm to 60ktpm, originally planned for 2024, to 2025. This delay allows the underground operations to establish a performance track record and be ramped up to a steady state of 30ktpm, ensuring a prudent and informed expansion timeline.

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

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the mineralization of the Kombat Mine, the Company’s exploration plans and results thereof, the prospectivity of the Company’s projects, the economic viability of the Kombat Mine, the Company’s ability to restart underground 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) accepts responsibility for the adequacy or accuracy of this release.

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The Trigon Metals Stock at the time of publication of the news with a fall of -6,25 % to 0,120CAD on Tradegate stock exchange (28. Februar 2024, 10:42 Uhr).