Mr. John Anderson reports

TRIUMPH GOLD DRILLS 106.50 M OF 0.76 G/T AUEQ AND EXPANDS THE BLUE SKY ZONE AT THE FREEGOLD MOUNTAIN PROJECT, YUKON

Triumph Gold Corp. has released results from 896.72 metres of diamond drilling in three holes from the Blue Sky zone (BSZ) within the Revenue deposit at the Freegold Mountain project, highlighted by 106.50 metres of 0.76 gram per tonne gold equivalent (AuEq) in RVD21-05.

Highlights

During the 2021 exploration program, three drill holes were completed at the Blue Sky zone totalling 896.72 metres.

• Drilling encountered multiple styles of mineralization including porphyry-style stockwork veins, disseminated sulphides, sulphide breccias and epithermal veins.
• Drilling added near-surface mineralization of the Blue Sky zone within the open-pit resource:
  • 106.50 metres of 0.76 g/t AuEq from 120.00 metres in RVD21-05:
    • Containing 0.27 g/t gold, 5.43 g/t silver, 0.22 per cent copper and 0.014 per cent molybdenum;
  • 26.82 metres of 0.67 g/t AuEq from 169.18 metres in RVD21-06:
    • Containing 0.50 g/t Au, 1.54 g/t Ag, 0.07 per cent Cu and 0.004 per cent Mo;
  • 15.65 metres of 0.49 g/t AuEq from 205.35 metres in RVD21-06:
    • Containing 0.22 g/t Au, 2.01 g/t Ag, 0.09 per cent Cu and 0.017 per cent Mo;
  • 71.00 metres of 0.51 g/t AuEq from 204 metres in RVD21-07:
    • Containing 0.19 g/t Au, 1.39 g/t Ag, 0.06 per cent Cu and 0.036 per cent Mo.
• RVD21-06 intersected porphyry-style mineralization with 27.00 metres of 0.44 g/t AuEq from 244.00 metres:
  • Containing 0.17 g/t Au, 2.38 g/t Ag, 0.09 per cent Cu and 0.015 per cent Mo.

The Blue Sky zone is defined by 12 drill holes: three holes from the 2021 program and nine historical holes. The Blue Sky zone is a northeast-striking, near-vertical body of Au-Cu-Ag-Mo mineralization that remains open at depth. The Revenue deposit is made up of the Blue Sky zone, WAu zone and zones of Cu-Mo-Au porphyry-style mineralization.

The Blue Sky zone has been expanded 100 metres westward and toward the surface with a modelled strike length of 210 metres. The zone has an average width of 70 metres and a depth of 480 metres below surface. The 2021 drilling program expanded both the Blue Sky zone and the WAu zone and reduced the gap between the two zones to 65 metres.

Forty-six per cent of the 6,615 metres of the 2021 diamond drilling program have been reported to date. Further updates will be provided when the results for the remainder of the 2021 exploration program are received and interpreted from the Nucleus deposit, Big Creek South fault zone, the Orbit zone and regional exploration activities.

"We are pleased to report these exceptional drill results that support the team's geological interpretation of the Blue Sky zone extending towards surface within the open-pit resource. We are excited that the WAu zone and Blue Sky zone continue to grow bulk-tonnage mineralization within the Revenue deposit," stated Brian May, president, Triumph Gold.

Detailed interpretation and geology

RVD21-05 intercepted the Blue Sky zone and returned 106.50 metres of 0.76 g/t AuEq from 120.00 metres. This intercept is located 60 metres southwest of RVD18-16, which had an intercept of 110.42 metres grading 1.86 g/t AuEq. The 2021 program expanded the Blue Sky zone 100 metres westward and toward the surface. The updated expression of the Blue Sky zone is now modelled to be 65 metres from the WAu zone, suggesting the two zones may be linked in a northeast orientation.

Mineralization at the Blue Sky zone is hosted within hydrothermally altered granodiorite and contains two overlapping mineralization events:

• The first and most abundant mineralization event is associated with strong potassic alteration with K-feldspar grading outward into biotite, suggesting a high-temperature porphyry zone. Sulphide mineralization (chalcopyrite, molybdenite, pyrite and pyrrhotite) is characterized by clots, veinlets and disseminations.
• The second phase of mineralization is hosted by epithermal quartz-calcite veins with mineralization of chalcopyrite, molybdenite, galena, sphalerite plus/minus bismuthinite and visible gold, representing metal enrichment.

Porphyry-style mineralization was intercepted south of the modelled Blue Sky zone. Porphyry-style mineralization consists of local sulphide plus/minus quartz stockwork veining with broad zones of disseminated sulphide mineralization surrounding vein clusters and local fine-grained native gold.

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.

National Instrument 43-101 disclosure

The technical content of this news release has been reviewed and approved by Triumph Gold's president, Mr. May, a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, and the underlying technical information in this news release.

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.

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