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Trident Resources Corp
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Close 2025-05-05 C$ 0.58
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Trident Resources receives 2 Sask. exploration permits

2025-05-06 10:40 ET - News Release

Mr. Jon Wiesblatt reports

TRIDENT RESOURCES RECEIVES DRILL PERMITS FOR ITS HIGH-GRADE GOLD PROJECTS LOCATED IN SASKATCHEWAN; PLANS FOR UPCOMING DRILL PROGRAMS

The Saskatchewan Ministry of Environment has issued two exploration permits for Trident Resources Corp.'s Contact Lake and Preview SW gold deposits. Both deposits are located on the Contact Lake gold property, one of Trident Resources' three wholly owned gold and copper projects in Saskatchewan. Trident looks forward to conducting drill programs at the pas- producing Contact Lake mine site and the Preview SW deposit, which host historical gold resources. This will be the first exploration program at the Contact Lake mine site in almost 30 years.

Jon Wiesblatt, chief executive officer of Trident, commented: "Strategic capital continues to flow into the district, underscoring the immense potential of one of the last underexplored greenstone belts in Saskatchewan, Canada. With the drill permits now in hand, we will be finalizing plans for the upcoming program and will be mobilizing this summer with a strong treasury to conduct a 5,000-metre program. The Contact Lake mine site, home to a past-producing, high-grade gold mine, has not been the recipient of any exploration work in many decades. The mine was closed in the late 1990s due to low gold prices. With the strengthening gold price and the potential to expand the resource base, Trident is in an excellent position to unlock significant value at the project. This is the initial step in determining how we advance to a much-larger exploration program to test the regional potential."

The exploration drill program will comprise approximately 5,000 metres and is scheduled to commence this summer at the Contact Lake mine site, where approximately 3,800 m are planned. Drill activities will then move to the Preview SW deposit area, where approximately 1,200 m are planned. Further details on the upcoming drill campaign are forthcoming.

The Contact Lake mine produced 188,185 ounces of gold from 1,006,673 tonnes of ore at a head grade of 6.16 grams per tonne gold between 1994 and 1998 with an overall reported mill recovery rate of 95 per cent. The Cameco Corp. Contact Lake operations final report (1999) stated that seven historical resource blocks with a total of 47,738 contained ounces of gold were left unmined. Trident Resources intends to investigate the unmined historical reserves (CESL estimate 1993) and expand the deposit, which remains open along strike and at depth. Trident believes there is great opportunity at Contact Lake given the existing underground infrastructure and tremendous exploration potential. Analytical results from historical drill programs at the Contact Lake deposit demonstrate the potential for both wide bulk-tonnage intercepts and high-grade discoveries.

An attached table outlines historical assay results at Contact Lake that this 2025 drill program will follow up on.

The Preview SW deposit, located 2.4 kilometres from the Contact Lake deposit, is host to a historical (2022) mineral resource estimate based on a database of 191 drill holes for a total of 31,943 metres.

Some significant historical assay results from Preview SW are listed in an attached table.

Qualified person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, and reviewed and approved by Cornell McDowell, PGeo, vice-president of exploration for Trident Resources as well as a qualified person.

About Trident Resources Corp.

Trident Resources is a Canadian public mineral exploration company focused on the acquisition, exploration and development of advanced-stage gold and copper exploration projects in Saskatchewan, Canada. The company is advancing its 100-per-cent-owned Contact Lake and Greywacke Lake projects, which host significant historical gold resources located within the prospective and underexplored La Ronge gold belt, as well as the 100-per-cent-owned Knife Lake copper project, which contains a historical copper resource.

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