Mr. Tony Giardini reports

TRILOGY METALS PROVIDES UPDATE ON THE AMBLER ACCESS PROJECT

Trilogy Metals Inc. has provided an update on the Ambler Access project -- the proposed 211-mile, industrial-use-only road from the Upper Kobuk mineral projects to the Dalton Highway that would enable the advancement of exploration and development at the Ambler mining district, home to some of the world's richest known copper-dominant polymetallic deposits.

On April 16, 2024, the Alaska Industrial Development and Export Authority (AIDEA) issued a press release in response to media reports indicating the Department of Interior plans to block access to the Ambler mining district by issuing a no-action decision. In its press release, AIDEA strongly urges the Department of Interior to comply with federal law and the promises made at statehood to allow access to state lands and minerals for the Ambler Access project.

AIDEA's press release can be found on its website.

Ambler Metals LLC, the company's 50/50 joint venture with South32 Ltd., also responded on April 16, 2024, with a media statement.

"We are stunned to hear reports that BLM [Bureau of Land Management] may deny the Ambler Access project, which received full federal approval four years ago and would enable safe and responsible domestic production of minerals that are critical for our national security and clean-energy technologies," said Kaleb Froehlich, managing director of Ambler Metals. "If true, this decision ignores the support of local communities for this project, while denying jobs for Alaskans and critical revenues for a region where youth are being forced to leave because of a lack of opportunity. A denial would also undermine the promise made to Alaskans in the Alaska National Interest Lands Conservation Act, which guaranteed a right-of-way for this crucial project. We strongly urge BLM to reconsider what would clearly be an unlawful and politically motivated decision that goes well beyond the narrow set of issues the courts agreed to allow the agency to address."

With cash totalling over $32-million, including its share of cash at the joint venture, Trilogy is well positioned to engage with its key stakeholders and consider options and next steps.

About Trilogy Metals Inc.

Trilogy Metals is a metal exploration and development company which holds a 50-per-cent interest in Ambler Metals, which has a 100-per-cent interest in the Upper Kobuk mineral projects in northwestern Alaska. On Dec. 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The Upper Kobuk mineral projects are located within the Ambler mining district, which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler mining district -- the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corp. Inc., an Alaska Native corporation that provides a framework for the exploration and potential development of the Ambler mining district in co-operation with local communities. Trilogy's vision is to develop the Ambler mining district into a premier North American copper producer while protecting and respecting subsistence livelihoods.

We seek Safe Harbor.