Mr. Jed Richardson reports

TRIGON CLOSES ACQUISITION OF COPPER KING EXTENSION AT KOMBAT IN NAMIBIA

Trigon Metals Inc. has closed the acquisition of exclusive prospecting licence 8529 (EPL 8529), referred to as the Copper King extension, as announced on Jan. 30, 2023, which significantly expands its landholding in Namibia. The licence surrounds Trigon's Kombat and Gross Otavi projects in the Otavi Mountainland, a region associated with high-grade copper and silver mineralization.

EPL 8529 is situated on the Kombat trend, the mineralized structure on which the Kombat project is located, and covers an area of 5,614 hectares in the Grootfontein district of the Otjozondjupa region, between the towns of Otavi to the west and Grootfontein to the east.

From a geological perspective, the licence represents a potential strike extension of the Kombat project, with various known mineral occurrences on the property. Trigon management has extensive knowledge of the area and plans to implement an exploration program in conjunction with its continuing exploration work on the Kombat project areas.

On June 5, 2023, Trigon received confirmation from the Ministry of Mines and Energy in Namibia, that the minister had approved the transfer of the licence from the seller, Otjiwa Mining and Prospecting CC, to Trigon, with effect from May 24, 2023. This was the final outstanding condition for the closing of the acquisition.

The purchase consideration for the licence comprises a cash price of $1.75-million (Namibian) (approximately $122,556) and the issuance of 84,129 Trigon common shares to the vendor. The Trigon shares are subject to a four-month statutory hold period.

The transaction is an arm's-length transaction for the purposes of the policies of the TSX Venture Exchange and the transaction qualifies as an expedited acquisition under TSX-V Policy 5.3.

EPL 8529 is valid for a period of three years, from Nov. 9, 2022, to Nov. 8, 2025.

Jed Richardson, president and chief executive officer of Trigon Metals, commented: "Drill exploration of targets on the Copper King extension will start in the coming weeks. The large number of copper showings fuel our expectations for new discoveries along the 35 kilometres of strike length."

Qualified person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Muller, PEng, vice-president of operations for Trigon, who is a qualified person as defined by National Instrument 43-101.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the company holds an 80-per-cent interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the company is focused on exploration and redevelopment of the previously producing Kombat mine. In Morocco, the company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

We seek Safe Harbor.