Mr. John Anderson reports

TRIUMPH GOLD DRILLS 80.50 METRES OF 1.96 G/T AUEQ FROM THE WAU ZONE AT THE FREEGOLD MOUNTAIN PROJECT, YUKON

Triumph Gold Corp. has released results from 2,154 metres of diamond drilling in four holes from the WAu zone within the Revenue deposit at the Freegold Mountain project, highlighted by 80.5 metres of 1.96 grams per tonne gold equivalent (AuEq) in RVD21-03.

Highlights:

• Intersection of multiple styles of mineralization including epithermal veins, porphyry-style stockwork veins, disseminated sulphides and sulphide breccias;
• Expansion of the WAu zone 70 metres along strike in an east-west orientation:
  • 80.50 metres of 1.96 grams per tonne gold equivalent from 370 metres in RVD21-03:
    • Containing 1.52 g/t gold, 3.74 g/t silver, 0.18 per cent copper, 0.011 per cent molybdenum and 0.007 per cent tungsten;
• 35.00 metres of 0.33 g/t AuEq from 325.0 metres in RVD21-02:
  • Containing 0.17 g/t Au, 1.04 g/t Ag, 0.05 per cent Cu, 0.008 per cent Mo and 0.004 per cent W;
• 8.25 metres of 0.40 g/t AuEq from 164.00 metres in RVD21-04:
  • Containing 0.28 g/t Au, 0.29 g/t Ag, 0.02 per cent Cu, 0.001 per cent Mo and 0.017 per cent W;
• 6.00 metres of 0.65 g/t AuEq from 179.00 metres in RVD21-04:
  • Containing 0.54 g/t Au, 0.83 g/t Ag, 0.06 per cent Cu, 0.001 per cent Mo and 0.002 per cent W;
• Intersection of near-surface porphyry-style mineralization with 108.65 metres of 0.40 g/t AuEq from 36.35 metres in RVD21-01:
  • Containing 0.18 g/t Au, 1.95 g/t Ag, 0.10 per cent Cu, 0.005 per cent Mo and 0.002 per cent W;
• Additional intersection of porphyry-style mineralization downhole in RVD21-01 with 60.50 metres of 0.51 g/t AuEq from 162 metres:
  • Containing 0.18 g/t Au, 2.11 g/t Ag, 0.10 per cent Cu, 0.022 per cent Mo and 0.002 per cent W.

The WAu zone is defined by 18 drill holes: four new holes from the 2021 program and 14 historical holes. The WAu zone is a steep south-dipping structurally controlled body of Au-Cu-Ag-Mo-W epithermal mineralization within the Revenue deposit. The Revenue deposit is made up of the WAu zone, Blue Sky zone and zones of Cu-Mo-Au porphyry-style mineralization.

The strike length of the WAu zone was expanded 70 metres and is now 75 metres away from the Blue Sky zone. The WAu zone now has a modelled strike length of 250 metres, an average width of 50 metres and a depth extending 525 metres below surface. All four holes intercepted porphyry-style and epithermal mineralization and each hole had intervals greater than one g/t gold.

"We are excited about the 2021 drill hole assays to date, which support the current resource and geological reinterpretation at the WAu zone and within the Revenue deposit. We are eagerly awaiting the remainder of the 2021 drill hole assays testing the upper portion of the Blue Sky zone within the Revenue deposit, the Nucleus deposit, the Big Creek South fault zone and the Orbit zone," stated Brian May, president, Triumph Gold.

Detailed interpretation and geology

RVD21-03 intercepted the WAu zone and returned 80.50 metres of 1.96 g/t AuEq from 370 metres. This intercept is located 35 metres east of RVD19-02, which had an intercept of 400.48 metres grading 1.21 g/t AuEq (PR No. 19-16). RVD21-04 stepped out 50 metres eastward from RVD21-03 and intercepted the WAu zone 130 metres above RVD21-03. The updated expression of the WAu zone is now modelled to be 75 metres from the Blue Sky zone, suggesting there may be a link between the two zones in a northeast orientation.

The WAu zone structure strikes east and dips steeply to the south. This structure hosts milled, jigsaw and crackle breccia textures and local stockwork veining. Epithermal mineralization is hosted by quartz-carbonate (calcite, ankerite and dolomite) hydrothermal infill containing polymetallic sulphide mineralization (pyrite, pyrrhotite, chalcopyrite, molybdenite, arsenopyrite, scheelite, sphalerite, galena and bismuthinite) and associated fine-grained native gold.

Strong silica plus/minus biotite alteration is associated with mineralization and has subsequently been overprinted by argillic (kaolinite), SCC (sericite plus clay plus chlorite), and phyllic (sericite plus/minus pyrite) alteration confirmed in previous drilling through drill hole spectral data (PR No. 21-05).

Porphyry-style mineralization consists of sulphide plus/minus quartz veinlets and local stockwork veining with broad zones of disseminated sulphide mineralization surrounding vein clusters and local fine-grained native gold.

Sulphide mineralization (chalcopyrite plus/minus molybdenite plus/minus pyrite plus/minus pyrrhotite and local bismuthinite) is associated with silica plus/minus biotite plus/minus argillic alteration.

Sample preparation and quality assurance/quality control

Diamond drill holes at the Freegold Mountain project are drilled using HTW and NTW core sizes (70.92-millimetre and 56.00-millimetre diameter, respectively). Drill core samples average 1.63 metres in length with a minimum length of 0.50 metre and a maximum length of 2.80 metres. Drill core is cut along the long axis of the core over the entire length of the drill hole. Sample intervals are defined by mineralization, lithology, structure and alteration boundaries.

Sample preparation is completed at ALS Whitehorse with sample pulps shipped to ALS Vancouver for analyses. Samples are dried and crushed to 70 per cent less than two millimetres with a 250-gram riffle split and pulverized to better than 85 per cent passing 75 microns (PREP-31).

A 50-gram sample from the pulp is analyzed for gold using fire assay techniques and atomic absorption spectroscopy with detection limits of 0.005 to 10 parts per million (Au-AA24). Gold overlimit values are reanalyzed using a gravimetric finish with an upper detection limit of 10,000 ppm (Au-GRA22). A 0.25 gram sample from the pulp is analyzed with multielement geochemistry (ME-ICP-61) using a four-acid near-total digestion and induced coupled plasma atomic emission spectroscopy (ICP-AES) providing 33-element output (silver, aluminum, arsenic, barium, beryllium, bismuth, calcium, cadmium, cobalt, chromium, copper, iron, gallium, potassium, lanthanum, magnesium, manganese, molybdenum, sodium, nickel, phosphorous, lead, sulphur, antimony, scandium, strontium, thorium, titanium, thallium, uranium, vanadium, tungsten and zinc).

Sample quality assurance/quality control (QA/QC) measures include: Unmarked certified reference materials (CRMs), rock blanks and field duplicates are inserted into the sample sequence and make up 5 per cent of the samples submitted to the lab for holes reported in this release. Additional QA/QC checks are continuing in accordance with National Instrument 43-101 standards.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. May, qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Triumph Gold Corp.

Triumph Gold is a Canada-based, growth-oriented exploration and development company with a district-scale land package in mining-friendly Yukon. The company's 100-per-cent-owned, road-accessible, flagship Freegold Mountain project is in the Dawson Range copper-gold belt and is host to three National Instrument 43-101 mineral deposits (Nucleus, Revenue and Tinta Hill). The project is 200 square kilometres and covers an extensive section of the Big Creek fault zone, a structure directly related to epithermal gold and silver mineralization as well as gold-rich porphyry copper mineralization.

We seek Safe Harbor.