Mr. Jed Richardson reports

TRIGON RECEIVES TSXV APPROVAL FOR EXTENSION OF WARRANTS

The TSX Venture Exchange has approved Trigon Metals Inc.'s application to extend the term of (i) 3,781,250 common share purchase warrants previously set to expire on Sept. 20, 2023, with an exercise price of 50 cents, (ii) 6,889,499 common share purchase warrants previously set to expire on Sept. 24, 2023, with an exercise price of 45 cents and (iii) 735,999 common share purchase warrants previously set to expire on Oct. 8, 2023, with an exercise price of 45 cents, each to March 31, 2024.

A total of 892,500 warrants are held by parties that are considered to be related parties of the company. Therefore, the amendment of such warrants constitutes a related-party transaction as contemplated by Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions) and TSX Venture Exchange Policy 5.9 (Protection of Minority Shareholders in Special Transactions). However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines have been relied upon as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.

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 and Addana projects, highly prospective copper and silver exploration projects.

We seek Safe Harbor.