Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES RESULTS FROM INAUGURAL DRILLING OF THE IRENE GOLD VEIN, DEFINING MINERALIZATION OVER 450 METRES WITH GOLD GRADES UP TO 20.7 GRAMS PER TONNE

Triumph Gold Corp. has released the results from the inaugural diamond drilling of the Irene gold vein, located on Triumph Gold Corp.'s 100-per-cent-owned, road-accessible Freegold Mountain property in the Yukon. The Irene vein was drill tested over a 450-metre strike length, with 1,369 metres drilled in 11 drill holes. Gold-bearing veins were intersected in every hole.

Highlights of results include:

• Significant vein-hosted gold was intersected in all 11 holes, defining a mineralized corridor with multiple mineralized structures that are now defined over a 450-metre strike length, and which are open in both directions along strike.
• Gold values up to 20.70 grams per tonne over 0.70 metre (IR18-01, 67.50 m to 66.20 m).
• Intersections define thick mineralized envelopes:
  • 2.38 g/t gold over 6.13 metres (IR18-08, 32.72 m to 38.85 m);
  • 1.15 g/t Au over 19 metres (IR 18-05, 43.90 m to 62.90 m);
  • 2.19 g/t Au over 5.65 metres (IR18-18-10, 47 m to 52.65 m).
• Multiple mineralized veins were intersected in individual drill holes; for example, four veins in IR18-10:
  • 3.09 g/t Au over two metres (43 m to 45 m);
  • 2.19 g/t Au over 5.65 metres (47 m to 52.65 m);
  • 0.93 g/t Au over 0.95 metre (62.05 m to 63 m);
  • 1.91 g/t Au over 2.82 metres (69 m to 71.82 m).

Refer to the attached table for a full list of significant intersections.

     RESULTS FROM 2018 DIAMOND DRILLING OF THE IRENE VEIN, FREEGOLD 
MOUNTAIN PROJECT. DRILL HOLES LISTED IN ORDER FROM NORTHWEST TO SOUTHEAST.

Drill hole ID    From (m)  To (m)    Length (m)   Au (g/t)   Ag (g/t)

IR18-09            60.00   60.75          0.75      0.747       <2.0   
IR18-08            32.72   38.85          6.13      2.379       <2.0
Including          36.58   37.50          0.92      6.140       <2.0
IR18-05            43.90   62.90         19.00      1.147       <2.0
Including          46.20   47.20          1.00      4.530       <2.0
Also inc.          54.90   56.90          2.00      2.675       <2.0
Also inc.          60.90   61.90          1.00      4.300       <2.0
IR18-10            43.00   45.00          2.00      3.090       <2.0
Including          43.00   44.00          1.00      4.390       <2.0
And                47.00   52.65          5.65      2.191       <2.0
Including          48.00   51.00          3.00      3.317       <2.0
And                62.05   63.00          0.95      0.932       <2.0
And                67.06   71.82          4.76      1.906       <2.0
Including          69.00   71.82          2.82      2.902       <2.0
IR18-11            72.66   73.40          0.74      6.740          9
And                84.00   85.00          1.00      1.410          6
And                89.96   90.96          1.00      3.010         18
IR18-03            76.10   79.65          3.55      0.811       <2.0
And                81.80   84.95          3.15      1.738       <2.0
Including          81.80   83.95          2.15      2.146       <2.0
And                87.36   89.19          1.83      1.870       <2.0
And                98.65   99.65          1.00      0.854       <2.0
And               101.85  104.65          2.80      1.221       13.5
IR18-04           113.60  114.74          1.14      2.360       <2.0
IR18-01            64.01   67.80          3.79      6.723       <2.0
Including          66.50   67.80          1.30     17.215       <2.0
Or                 66.50   67.20          0.70     20.700       <2.0
And                69.80   70.80          1.00      4.410       <2.0
And               103.63  105.16          1.53      0.968         14
IR18-02           108.75  109.50          0.75      1.340       <2.0
IR18-06            57.25   58.25          1.00      1.340       <2.0
And                67.75   74.45          6.70      0.903       <2.0
IR18-07            82.72   83.71          0.99      0.817         36
And                91.75   96.70          4.95      1.070       <2.0

History of discovery

The Irene vein is located on the lower northwest flank of Freegold Mountain, 2.35 kilometres along strike to the northwest of the Goldstar epithermal gold vein system, which is exposed on the top of the mountain. Irene was first identified in 2013 when Triumph Gold was alerted by a local placer miner that a mineralized vein had been uncovered in Guder Creek during surficial gold mining operations. By 2014, the vein had been exposed via placer mining over a strike length of 140 metres. Extensive surface outcrop channel sampling yielded excellent results across the full area of exposure, including 7.11 grams per tonne Au over three metres (TR13-21), 5.19 g/t Au and 66.8 g/t Ag over one metre (TR14-36), 19.9 g/t Au and 145.0 g/t Ag over 0.36 metre (TR14-37), and 3.47 g/t Au over 7.0 metres (TR13-018).

Geology of the Irene vein

The 2018 inaugural diamond drill program on the Irene gold vein system tested beneath the surface exposures of the vein with drill holes spaced every 50 metres and tested for along strike extensions beyond the surface exposure with stepout holes located 100 metres to the southeast and 100 and 200 metres to the northwest. Mineralized veins were encountered in every hole to a maximum vertical depth of approximately 100 metres. The intersections define a mineralized corridor that contains multiple veins divided into two types: 1) gold-dominant quartz veins and chalcedonic breccias with abundant fine arsenopyrite in multiply rebrecciated quartz, and 2) gold and silver-rich massive sulphide veins, composed of pyrite, chalcopyrite, arsenopyrite and stibnite.

The Irene vein/mineralized corridor coincides with the northwest-southeast-oriented Guder Creek, a deeply incised topographic feature that partly bisects Freegold Mountain and which contains significant placer gold. The vein is located at a fault-modified contact between Yukon Tanana metamorphic rock and Middle Cretaceous Revenue granite. In drill core, faulted slivers of multiple granitoid and metamorphic lithologies were observed. The Guder Creek fault is interpreted to be a splay off of the Big Creek fault, which is an important control on mineralization elsewhere on the Freegold Mountain property (for example, the Revenue-Nucleus area) and regionally (for example, Goldcorp's Coffee Creek deposit).

Link between Irene vein and the Goldstar vein

The Goldstar vein system is located on the top of Freegold Mountain, 2.35 kilometres to the southeast and along strike of the Irene vein. It is exposed over approximately 900 metres as a series of en echelon quartz veins and vein breccia. The vein system was among the earliest exploration targets on the Freegold Mountain property and it was tested with 30 short reverse circulation and diamond drill holes in 1959, 1974, 1987 and 1991. Historical drill results are similar to results from 2018 drilling at Irene and include 11.65 g/t Au over 2.59 m, 9.77 g/t Au over 2.20 m, 7.95 g/t over 1.5 m, 5.42 g/t Au over 3.4 m and 5.6 g/t Au over 1.53 m. Outcrop between the Goldstar vein on the top of Freegold Mountain and Irene near the bottom of the mountain is buried under overburden and thick vegetation and has never been drill tested. A historical grab sample collected in 2005 from a trench located between Goldstar and Irene, 420 metres northwest of the Goldstar vein exposure, graded 425 g/t Au and 321 g/t silver. Historical assays have not been verified by Triumph Gold.

Exploration potential

Combined, the exposed or drill tested portions of the Irene and Goldstar veins cover 1.35 kilometres. The veins are along strike of one another, they have similar geological characteristics, and they have consistent drill results with multigram gold over multimetre intersections. The 2.35-kilometre-long area between the Irene and Goldstar veins is highly prospective for a continuation of gold mineralization. Future drilling and trenching of the intervening area will test the possibility that these veins are contiguous, which would potentially demonstrate a 3.70-kilometre strike length and 650-metre vertical extent of gold mineralization.

Methods

Drill core samples ranged between 0.55 metre and two metres in length and were cut at Triumph's core logging facility on the Freegold Mountain property. The samples were analyzed by SGS Canada of Vancouver, B.C. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75 per cent passing two millimetres and a 250-gram split was pulverized to better than 85 per cent passing 75-micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30 g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using a 30 g nominal sample and gravimetric analysis (method GO FAG303). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B). Quality assurance/quality control (QA/QC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QA/QC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks, certified reference standards and duplicates, were blindly inserted into each 75-sample batch. QA/QC samples that return unacceptable values trigger investigations into the results and reanalyzes of the samples that were tested in the batch with the failed QA/QC sample.

Qualified person

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 the Yukon.

We seek Safe Harbor.