Mr. Jed Richardson reports

DRILLING IN EAST 400 AREA CONTINUES TO DELINEATE MINERALIZATION AT KOMBAT, NAMIBIA - 13 METRES AT 4.2% CU AND 13.1 G/T AG

Trigon Metals Inc. has released results from confirmation drilling at the Kombat mine in Namibia with key highlights from the drilling campaign. The reported results are from the East 400 area and the Kavango North pit. The East 400 area is located 250 metres east of the Kavango pit, where mining began in May, 2023.

Highlights of the drill results

The team has drilled some confirmation holes in the East 400 area. East 400 is the smallest and shallowest of the planned pits at the Kombat mine. The following holes have dramatically extended the known mineralization and minable tonnage in the zone. The following are a couple of the best results:

• E400FLW-006 (1.77-degree azimuth; minus-58.3-degree dip):
  • Intersected 5.4 metres of 1.3 per cent copper and 13.1 grams per tonne silver from surface;
  • Intersected 4.0 metres of 6.6 per cent copper and 75.4 grams per tonne silver from 27.0 metres;
• E400FLW-007 (176.1-degree azimuth; minus-57.7-degree dip):
  • Intersected 13.0 metres of 4.2 per cent copper and 10.1 grams per tonne silver from 34.0 metres;
  • Intersected 7.0 metres of 1.9 per cent copper and 7.0 grams per tonne silver from 59.0 metres;
  • Intersected 4.0 metres of 0.9 per cent copper and 4.1 grams per tonne silver from 78.0 metres.

Jed Richardson, Trigon's president and chief executive officer, commented: "We are thrilled with the exceptional drilling results at the East 400 area. These findings further demonstrate the high-grade copper potential within our licences and solidify our confidence in the exploration and development of the Kombat project."

Company update

Production at Kombat continues to outperform expectations; concentrate production continues to build, with concentrate grades around 30 per cent copper; and recoveries are above 80 per cent. The mill has been running continuously for over the last 96 hours without interruption at a rate of 95-per-cent capacity.

In addition to the successful drilling outcomes at the East 400 area, Trigon has initiated drilling activities at the recently acquired Silver Hill project in Morocco. The 2,000-metre drill program is nearing its end; mineral assays will now be taken and reported to the market in due course.

Drill holes are spaced at less-than-7.5-metre intervals, testing gaps areas between the historical drilling and measuring contact between sulphide and oxide mineralization.

The assays have been prepared and classified by Trigon Mining (Namibia) Pty. Ltd. in accordance with the reporting guidelines as set out in National Instrument 43-101, Standards of Disclosure for Mineral Projects, as required by the Canadian securities administrators.

Quality assurance and quality control (QA/QC)

All sample assay results have been monitored through the company's QA/QC program following E2941-21, standard practices for extraction of elements from ores and related metallurgical materials by four-acid digestion with ICPOES finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (ALS), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. The sample size is three kilograms, crushed split to 250-gram weighed samples (plus or minus 0.5000 gram).

Qualified person

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

Warrant extension

Further to Trigon's Sept. 20, 2023, press release, the company's 735,999 common share purchase warrants previously set to expire on Oct. 13, 2023, with an exercise price of 45 cents have been extended to March 31, 2024.

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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