Mr. Jed Richardson reports

TRIGON ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

At Trigon Metals Inc.'s annual and special meeting of Trigon shareholders that took place on April 9, 2024, Trigon shareholders approved all matters put before them, including: (i) the proposed spinout of Trigon's wholly owned subsidiary, Safi Silver Corp. (Spinco), which holds the company's Moroccan assets, namely the Silver Hill and Addana projects, pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act; and (ii) the consolidation of Trigon common shares on the basis of one postconsolidation Trigon common share for each five preconsolidation Trigon common shares. The proposed arrangement and the share consolidation was approved by Trigon shareholders at the meeting.

The approved resolutions are as follows:

1. Election of board of directors: Shareholders elected each of the seven management nominees as directors of the company for the ensuing year. The elected directors are:
2. • Mohammed Benharref;
   • Daye Kaba;
   • Gabriel Ollivier;
   • Jed Richardson;
   • David Shaw;
   • Grant Sboros;
   • Larissa Sprott.
3. Appointment of auditor: Shareholders approved the appointment of the auditor.
4. Stock option plan: The company's stock option plan was reapproved in accordance with the requirements of the TSX Venture Exchange.
5. Share consolidation: Shareholders endorsed the consolidation of Trigon common shares on the basis of one postconsolidation Trigon common share for each five preconsolidation Trigon common shares.
6. The proposed arrangement (Safi Silver spinout): Shareholders gave their overwhelming support for the proposed spinout of Trigon's wholly owned subsidiary, Safi Silver, which holds the company's Moroccan assets, namely the Silver Hill and Addana projects. The spinout is pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act.

Jed Richardson, chief executive officer and executive chairman of Trigon Metals, commented: "We are pleased to have the recommendations of the board supported by the shareholders, with particular focus on the spinout of the Moroccan assets into Safi Silver, to realize the currently unrecognized value in Trigon Metals. As the silver price breaks out and Morocco is showing itself to be a promising destination for silver exploration, we are excited about the timing. By creating a new vehicle for shareholders, we aim to preserve Trigon as a production growth investment focused on copper in a rising copper price environment."

The proposed arrangement, the share consolidation and the option plan are each subject to the final approval by the TSX Venture Exchange. Closing of the proposed arrangement is subject to satisfaction of all conditions precedent to its completion and is expected to occur in early Q3 2024. Trigon intends to seek a final order from the Ontario Superior Court of Justice (Commercial List) in respect of the proposed arrangement at a later date in advance of closing.

For further details regarding the resolutions and matters discussed at the meeting, please refer to Trigon's management information circular dated March 11, 2024, available under the company's profile on SEDAR+.

Trigon management extends sincere appreciation to shareholders for their participation and continued support.

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.

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