Mr. Jed Richardson reports

TRIGON METALS CLOSES ACQUISITION OF KALAHARI COPPERBELT PROJECT IN NAMIBIA

Trigon Metals Inc. has completed the acquisition of Base Metal Investments and Services, a private Mauritius-domiciled company, that holds an option to acquire up to a 70-per-cent stake in the Kalahari Copperbelt project. The Copperbelt option provides Trigon the right to attain up to 70-per-cent interest in Copperbelt Exploration Pty. Ltd. which wholly owns the Kalahari Copperbelt project. Please see the company's Nov. 29, 2023, press release for further details.

Concurrently with the closing of the transaction, Copperbelt has acquired a 25-per-cent equity interest in Copperbelt.

As consideration for the transaction, Trigon has issued to Commodity Makers International, the sole shareholder of Base Metal, 13.6 million Trigon common shares and will issue 1.6 million Trigon common shares to Commodity Makers on each of the six-, 12-, 18- and 24-month anniversaries of today's date, for an aggregate total number of 20 million Trigon common shares.

As consideration for the initial acquisition, Trigon, on behalf of Base Metal, has paid $60,000 (U.S.) to Ongwe Minerals Pty. Ltd., the vendor of Copperbelt, and has committed to funding $1-million (U.S.) in exploration expenditures on the project over the next 24 months.

Each of the transaction and initial acquisition is an arm's-length transaction under the policies of the TSX Venture Exchange. Rennie Morkel is a director and officer of Commodity Makers and Andreas Rompel and Grant Sboros have provided consulting services to Commodity Makers. Mr. Morkel and Mr. Rompel are now officers of Trigon and Mr. Sboros has joined Trigon's board of directors.

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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