An anonymous director reports

TRIGON ANNOUNCES $3 MILLION BROKERED PRIVATE PLACEMENT

Trigon Metals Inc. has entered into an agreement with Beacon Securities Ltd. to act as lead agent and sole bookrunner on behalf of a syndicate of agents, including Echelon Wealth Partners Inc., in connection with a commercially reasonable best efforts private placement of units of the company at a price of 20 cents per unit for gross proceeds to the company of approximately $3-million, subject to the maximum amount that may be issued under Part 5A (the listed issuer financing exemption) of National Instrument 45-106 -- Prospectus Exemptions.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of 30 cents per warrant share at any time for a period of 36 months following the closing of the offering.

The company intends to use the net proceeds of the offering for mineral exploration activities on the company's Kombat project, Silver Hill project and Addana project and general working capital requirements.

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the units will be offered for sale to purchasers resident in Canada, except Quebec, and other qualifying jurisdictions, pursuant to the listed issuer financing exemption. The securities issued under the listed issuer financing exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is expected to close on or about July 12, 2023, or such date as the lead agent and the company may agree upon, and is subject to certain conditions, including but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange. Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSX-V.

As consideration for their services, the agents will receive a cash commission of 6 per cent of the gross proceeds of the offering (provided that a cash fee equal to 3 per cent shall be payable in respect of gross proceeds from units sold to purchasers included on a president's list to be determined by the company) and compensation options in an amount equal to 6 per cent of the number of units sold pursuant to the offering (provided that compensation options equal to 3 per cent shall be issuable in respect of units sold to purchasers on the president's list). Each compensation option will be exercisable to purchase one common share of the company at the issue price for a period of 36 months from the closing date of the offering.

About 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.

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