Mr. Tony Giardini reports

TRILOGY METALS PROVIDES AN 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 (UKMP) 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. The United States Bureau of Land Management (BLM) has filed the final supplemental environmental impact statement for the AAP on its website. The final SEIS identifies no action as the BLM's preferred alternative. The proponent for the AAP is the Alaska Industrial Development and Export Authority which is a public corporation of the State of Alaska. AIDEA's purpose is to promote, develop and advance the general prosperity and economic welfare of the people of Alaska.

AIDEA stated in its April 19, 2024, press release: "The Alaska Industrial Development and Export Authority (AIDEA) strongly objects to both the process used by the Bureau of Land Management (BLM) to reach a no build decision and the effect of the decision which illegally blocks access to statehood lands, minerals and federally patented mining claims. Federal agencies are not supposed to include biased non-government employees in an objective open and transparent decision process. Yet, the BLM held closed-door meetings with former leaders of environmental groups and opponents of the project while locking out AIDEA, a State of Alaska corporation, and imposing a gag order on the State of Alaska Department of Natural Resources who participated in the BLM meetings." AIDEA's press releases can be found on its website.

The company will work with its partners to review the final SEIS and consider options and next steps. BLM will issue a record of decision no sooner than 30 days after publication of the final SEIS in the federal register.

About Trilogy Metals Inc.

Trilogy Metals is a metal exploration and development company holding a 50-per-cent interest in Ambler Metals LLC, 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 UKMP is 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 Corporation, 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.

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