Mr. Jed Richardson reports

TRIGON METALS ACHIEVES COMMERCIAL PRODUCTION MILESTONE AT KOMBAT MINE

Trigon Metals Inc. has provided an update on a significant milestone as achieved commercial production as of Oct. 11, 2023, at its Kombat mine in Namibia. This achievement marks a major step forward in Trigon's journey toward becoming a leading mid-tier copper producer.

Commercial production status is defined as operating at 70 per cent of production capacity over a period of 30 consecutive days. This is a testament to the dedication and hard work of the entire team and represents a record of steadfast commitment to achieving operational targets and managing costs effectively. Achieving this milestone marks a pivotal moment in the growth of the company, enhancing the economic viability of the Kombat mine.

Commercial production status has been achieved swiftly in accordance with company targets. The mill started producing concentrate on Aug. 3 of this year (see press release dated Aug. 10, 2023). The company proceeded to operate for its first full day of production on Aug. 21, 2023 (see press release dated Aug. 24, 2023), and ramped up quickly to commercial levels. Over the last 30 days, the mill has operated at 77.8 per cent of capacity with average recoveries of 86 per cent copper (Cu), producing 650 tonnes of concentrate and Trigon's concentrate product is being shipped to port daily.

Namibian investor and local partner Knowledge Katti expressed his congratulations, saying: "The Kombat mine is a very important project for Namibia, especially the children from the Kombat community. Trigon will deliver sustainable benefits for years to come, including 500 direct jobs already in place. The supporting shareholders are all working together as a partnership to deliver positive outcomes for all our stakeholders. This milestone is a testament to the strength of our 500-person work force and the co-operation of the local communities."

Fanie Muller, vice-president of operations at Trigon Metals, said: "This achievement is a testament to the relentless efforts and dedication of our team members. I am incredibly proud of our staff for their hard work and commitment during the commissioning phase. We will take a moment to enjoy this significant milestone and at the same time gear up for the next growth phases of the Kombat mine which include the restart of the underground operations and the mill expansion project."

Trigon Metals remains committed to its goal of responsible mining and development in mining-friendly African jurisdictions. The company will continue to prioritize safety, environmental stewardship and community engagement as it moves forward with its operations.

Qualified person

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

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.

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