Mr. Jed Richardson reports

TRIGON PRODUCES STRONG COPPER CONCENTRATE WITH HIGH RECOVERY IN START-UP AT KOMBAT MINE, NAMIBIA

Trigon Metals Inc. has produced its first copper concentrate. On Friday, Aug. 18, 2023, the company produced its first sale-ready dried copper concentrate for sale at the mill, which has a capacity of 1,000 tonnes per day (tpd). On Monday, Aug. 21, 2023, the first full day of concentrate production, 436 tonnes of ore were processed through the mill (nearly 44 per cent of capacity) and the company is targeting 70-per-cent production by the end of September. Plant performance statistics are provided in the table entitled "Plant performance statistics on first complete day of concentrate production (Aug. 21, 2023)."

In the commissioning stage, the mill was purposely fed lower-grade material (average feed grade of 0.73 per cent copper) rescued from waste, as identified by ore spotters. The utilization of low-grade feed makes the result stand out as more impressive, having produced a concentrate grade of 33.5 per cent copper at recoveries of 79.5 per cent. The resulting concentrate has exceeded the expected grade of 20 per cent, and recoveries have the potential to improve with higher-grade feed. Higher-grade concentrate translates directly to higher profitability due to lower shipment and treatment charges per pound of copper produced.

Stockpiles on the run-of-mine pad now total 27,000 tonnes of ore averaging close to 1.2 per cent Cu, representing one month's supply of ore feed.

Fanie Muller, Trigon's vice-president of operations and Kombat's mine manager, commented: "The mill is performing very well. This level of efficiency on our starter feed puts us in an excellent position as we start to feed our target grades."

Qualified person

The technical information presented in this press release has been reviewed and approved for disclosure by Mr. Muller, PEng, vice-president of operations of 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 and Addana projects, which are highly prospective copper and silver exploration projects.

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