Mr. Richard Drechsler of Trifecta Gold reports

TRIFECTA GOLD RECEIVES FINAL APPROVAL FOR TOMBSTONE BELT TRANSACTION

Further to its March 1, 2024 news release, Trifecta Gold Ltd. has received final approval from the TSX Venture Exchange to acquire up to 100 per cent of Mount Hinton and 10 other highly prospective, intrusion-related gold projects located in Yukon's Tombstone gold belt. Under a two-stage earn-in agreement with Strategic Metals Ltd., Trifecta can acquire up to a 100-per-cent interest in all 11 properties.

Highlights:

• Trifecta Gold secures option to acquire up to 100-per-cent interest in Mount the Hinton gold-silver project, next to Hecla's Keno Hill mines, as well as 10 other highly prospective projects.
• All 11 projects show characteristics of reduced intrusion-related gold systems, like Snowline Gold's recent Valley discovery.

Tombstone gold belt

Extending for more than 1,000 kilometres from Alaska into Yukon, the Tombstone gold belt hosts many large reduced intrusion-related gold system (RIRGS) deposits such as Fort Knox and Pogo in Alaska (greater than 14 million ounces), Eagle and Olive in Yukon (greater than four million ounces), and the past-producing Brewery Creek mine, also in Yukon. Recent discoveries, including Snowline Gold's Tier 1 Valley discovery, Sitka Gold's RC deposit, Banyan Gold's AurMac deposits and Victoria Gold's Raven deposit, have drawn renewed exploration interest to the belt (greater than 17 million new ounces added to resources in the belt since May, 2020).

These gold systems are characterized by sheeted, auriferous quartz veins forming in the carapace zones of Cretaceous-age plutons. They have a characteristic geochemical signature of gold/bismuth/tellurium plus or minus tungsten within and surrounding the intrusion and a characteristic geophysical signature of a magnetic low (reduced), together with a coincident conductivity low. Moving outward from the intrusions, gold-arsenic veins are common with silver-lead-zinc veins farther out.

Option terms

Trifecta can acquire an initial 70-per-cent interest in the properties (the first option) by incurring aggregate exploration expenditures of $6-million by Dec. 31, 2027, with $500,000 to be incurred by Dec. 31, 2024, and issuing 305,000 shares to Strategic. Following the exercise of the first option, Strategic will retain a 1-per-cent net smelter return royalty interest in the properties. (These 305,000 Trifecta shares have been issued to Strategic and are subject to a hold period in Canada until Nov. 10, 2024.)

Trifecta can acquire the remaining 30-per-cent interest in the properties (the second option) by issuing additional Trifecta shares to Strategic equal to 9.99 per cent of the then-outstanding Trifecta share capital at any time after the exercise of the first option and prior to Feb. 28, 2028, which number of shares to be issued to Strategic will not include any shares of Trifecta then held by Strategic but will be subject to a maximum number of 8.92 million shares of Trifecta. Following the exercise of the second option, Strategic will retain an additional 1-per-cent-net smelter return royalty interest. Trifecta can purchase the second royalty interest from Strategic for the payment of 1,500 ounces of gold or the cash equivalent.

If Trifecta exercises the first option only, the parties shall form a joint venture to further explore and develop the properties.

Project portfolio

The optioned portfolio covers approximately 30,000 hectares of highly prospective land within the Yukon portion of the Tombstone gold belt across 11 properties -- namely, Mount Hinton, Rye, Lance, Liam, Lois, Leroy, Luke, Leah, Lisa, Husky and Naws. The locations of and the properties are available on the company's website.

About Trifecta Gold Ltd.

Trifecta is a Canadian-based precious metal exploration company dedicated to increasing shareholder value through the discovery and development of 100-per-cent-held gold projects in Yukon and Nevada. Initial drilling at its Yuge gold project, located in northern Nevada, has identified multiple broad zones of gold mineralization near historical high-grade mines. The company's Eureka project hosts an eight-kilometre-by-2.5-kilometre belt of surface showings and anomalous gold-in-soil that straddle the headwaters of two of the most productive placer creeks in Yukon's southern Klondike goldfields. The company's Treble project covers a large hydrothermal system, located midway between Western Copper and Gold Corp.'s Casino deposit, the largest copper and gold deposit in Yukon, and Rockhaven Resources Ltd.'s Klaza deposit, a high-grade gold-silver deposit.

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