Mr. Jonathan Wiesblatt reports

TRIDENT RESOURCES SIGNS OPTION AGREEMENT TO OPTION ADJOINING PROPERTY ON MAJOR GOLD TREND IN SASKATCHEWAN CANADA

Trident Resources Corp. has signed an option agreement with an individual landowner (optionor), pursuant to which the company has optioned a property that borders one of Trident's core high-grade gold assets. The company can earn a 100-per-cent interest in the project, which is made up of 6,902 hectares of claims with prospective gold exploration potential directly adjacent to Trident's Greywacke gold project in the La Ronge gold belt.

Acquisition highlights:

• Highly prospective land package adjacent to Trident to the northeast and southwest of one of the company's core gold projects;
• Multiple high-priority targets on the newly acquired property that are on trend with Trident's deposits;
• Attractive acquisition price comprising cash and shares of Trident with exploration expenditures;
• Required exploration expenditures can be covered with a strong treasury -- Trident has over $11-million in working capital and is fully financed for its coming summer drill program at the flagship Contact Lake gold project.

Historical Hailstone property highlights:

• Anomalous areas are associated with known gold occurrences, with grab samples assaying up to 15.9 grams per tonne gold (Bornite zone target), as reported previously by Pelangio (see press release dated Oct. 7, 2019).
• The 2021 drill program was focused on the Asbell Bay target area. These holes targeted known gold occurrences such as the Bornite zone, which returned surface grabs up to 15.9 g/t Au and 2.68 per cent copper, as well as several coincident geophysical and gold till anomalies along the 1.8-kilometre-long Asbell Bay trend, as reported previously by Pelangio (see press release dated May 7, 2021).

Jonathan Wiesblatt, Trident's chief executive officer, commented: "We are delighted to work towards consolidating a key asset in this prolific mining district at a very attractive price for our shareholders. This acquisition will add prospective ground with an extensive exploration database providing an opportunity for Trident to make new discoveries and delineate new resources at the project.

"To execute on this, Trident is well funded with over $11-million in its treasury now consisting of cash and cash-equivalent assets. Over the next few months, the company will focus on its exploration work, which includes drilling at Contact Lake to confirm the high-grade potential resources left behind by the former owner and testing the extension of the trend both along strike and at depth."

Agreement terms

Pursuant to the terms of the agreement, the company may acquire up to a 100-per-cent interest in the project by: (i) issuing a total of 50,000 common shares in the capital of the company; (ii) making aggregate cash payments of $40,000; and (iii) incurring $200,000 in exploration expenditures on the project over a four-year period, as follows.

The optionor shall retain a 0.5-per-cent net smelter return (NSR) royalty from minerals mined and removed from the project, of which the optionee may purchase one-half, being 0.25 per cent, at any time for $250,000.

The shares issuable shall be subject to a statutory hold period of four months and one day from issuance. The transaction remains subject to TSX Venture Exchange approval. There are no finders' fees payable pursuant to the transaction.

Qualified person

The scientific and technical data contained in this news release were approved by Cornell McDowell, PGeo, a non-independent qualified person under National Instrument 43-101, Standards of Disclosure of Mineral Projects.

About Trident Resources Corp.

Trident Resources is a Canadian public mineral exploration company listed on the TSX-V 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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