11:04:32 EST Mon 19 Nov 2018
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Triumph Gold Corp (2)
Symbol C : TIG
Shares Issued 81,030,138
Close 2018-10-25 C$ 0.52
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Triumph Gold purchases 2% NSR on Golden Revenue

2018-10-25 11:17 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD PURCHASES ROYALTY INTEREST IN GOLDEN REVENUE CLAIMS

Triumph Gold Corp. has purchased a 2-per-cent net smelter return interest in the Golden Revenue property, which is wholly contained within the company's 100-per-cent-owned, road-accessible Freegold Mountain property, Yukon Territories. With this purchase, a critical 9.9-square-kilometre portion of the Freegold Mountain property, centred over the Blue Sky-Revenue-Nucleus area, is now unencumbered by any royalties.

Freegold Mountain project royalty purchase

The NSR relates to 69 claims forming the original Golden Revenue property and was purchased from the original property owner for $100,000. The claims are centred over the Revenue gold-silver-copper-molybdenum (Au-Ag-Cu-Mo) deposit and extend approximately three kilometres west, covering one-half of the Nucleus Au-Ag-Cu deposit, and one kilometre east, covering the recently delineated WAu breccia and a portion of the newly discovered high-grade, gold-rich Blue Sky porphyry; they also include the recently discovered Drone zone. Highlights from drilling within the original Golden Revenue property include:

  • RVD18-17 with 125.13 metres of 1.24 grams per tonne Au, 7.0 g/t Ag, 0.31 per cent Cu and 0.01 per cent Mo (310.47 to 435.60 m) contained within 202.10 metres of 0.87 g/t Au, 5.8 g/t Ag, 0.26 per cent Cu and 0.01 per cent Mo (287.00 to 489.10 m) in the Blue Sky zone;
  • RVD18-03 with 72 metres of 0.54 g/t Au, 13.7 g/t Ag, 0.30 per cent Cu and 0.01 per cent Mo (60.00 to 132 m) contained within 180 metres of 0.31 g/t Au, 5.7 g/t Ag, 0.16 per cent Cu and 0.02 per cent Mo (52 to 232 m) in the WAu breccia;
  • RVD17-14 with seven metres of 15.0 g/t Au (129 to 136 m) in the Guder zone;
  • GRD08-099 with 9.36 metres of 70.19 g/t Au (109.64 to 119 m) including 1.27 metres of 410 g/t Au (113.28 to 114.55 m) at Nucleus.

The purchase of this royalty reduces the NSR in most of the Nucleus-Revenue to Blue Sky area to 0 per cent. The remainder of the Freegold Mountain property has underlying NSR's ranging from 1 to 3 per cent, all of which may be bought down to 1 per cent at any time.

Executive chairman's comment

John Anderson, Triumph Gold's executive chairman, comments: "With the recent drilling success at Revenue East and the Blue Sky zone, we thought it imperative to purchase this royalty interest. This should have a significant positive impact on any future economic studies."

The technical content of this news release has been reviewed and approved by Dr. Tony Barresi, PhD, PGeo, vice-president of exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold is a growth-oriented Canadian-based precious metals exploration and development company. Triumph Gold is focused on creating value through the advancement of the district-scale Freegold Mountain project in Yukon.

We seek Safe Harbor.

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