Mr. Jed Richardson reports

TRIGON METALS KOMBAT MINE SHIPS FIRST COPPER CONCENTRATE

On Friday, Sept. 29, 2023, Trigon Metals Inc. shipped its first copper concentrate product from the Kombat mine in Namibia. This milestone marks the beginning of cash flow from the operation.

During the month of September, mining operations continued to perform well, providing a consistent plant feed averaging 1.2 per cent copper, in line with the mine plan.

The Kombat mill operated 23 days in September at an average daily throughput of 718 tonnes per day, corresponding to 72-per-cent capacity. By the end of September, production ramped up to strong with steady operation, consistently above 95-per-cent capacity, from Sept. 16, onward. The company is on target to declare commercial production in the second week of October.

Copper recoveries have averaged 80.5 per cent for the month. As production settled into steady operation from mid-September, the mill has achieved recoveries of 84.8 per cent, in line with projected recoveries of 85 per cent.

A total of 470 tonnes of concentrate was produced in September with an average concentrate grade of 35.3 per cent copper and 345 grams per tonne (g/t) of silver. To date, 101 tonnes have been shipped and shipments continue as finished concentrate at site has begun to overwhelm on-site storage facilities.

Jed Richardson, Trigon's president and chief executive officer, commented: "Another tremendous milestone for the team at Kombat, as cash flow begins. Mining and milling operations are performing optimally. All credit to the fantastic team on site."

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, both highly prospective copper and silver exploration projects.

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