Mr. Matthew Keevil reports

TRILOGY METALS WELCOMES FEDERAL TRANSFER OF Dalton utility cORRIDOR LANDS TO THE STATE OF ALASKA, HIGHLIGHTS POSITIVE IMPLICATIONS FOR AMBLER MINING DISTRICT

Trilogy Metals Inc. today welcomed the U.S. Department of the Interior's (DOI) decision to transfer approximately 1.4 million acres of federal land within Alaska's Dalton utility corridor to the State of Alaska, marking a significant step toward advancing responsible resource development in the Ambler mining district.

The land transfer is part of a broader series of federal actions affecting the corridor, centred on the issuance of Public Land Order 7966, which partially revoked Public Land Order 5150 (PLO 5150). Originally established in the early 1970s, PLO 5150 created a utility and transportation corridor -- a protected strip of federal land intended to support development of the Trans-Alaska Pipeline and the Dalton Highway. By withdrawing millions of acres from public entry and state selection, PLO 5150 reduced the potential for conflicting land claims during infrastructure development. Recent policy changes have now reopened portions of the corridor to selection, facilitating the conveyance of these lands to the State of Alaska to help satisfy its remaining entitlements under the Alaska Statehood Act, and enabling Alaska to assume ownership and management of significant portions of the corridor.

"This is an important and constructive development for Alaska and for the future of domestic mineral production," said Tony Giardini, president and chief executive officer of Trilogy. "Transferring these lands to state control helps create a more stable and predictable framework for infrastructure development, including projects like the Ambler Road, which is critical to unlocking the significant mineral potential of the Ambler mining district."

The Dalton utility corridor has long been recognized as a strategic infrastructure route, paralleling existing energy and transportation systems such as the Trans-Alaska Pipeline and Dalton Highway. The corridor also overlaps with the proposed Ambler Road (or Ambler access project), a 211-mile, industrial-use-only road from the Ambler mining district to the Dalton Highway designed to provide access to potentially one of the most prospective undeveloped mineral belts in North America, rich in copper, cobalt, zinc and other critical minerals.

By shifting management of these lands from federal agencies to the State of Alaska, the transfer is expected to reduce regulatory complexity and enhance co-ordination for future permitting and right-of-way approvals.

The Ambler mining district represents a significant opportunity to strengthen U.S. supply chains for critical minerals essential to energy transition technologies, national security and economic growth. Infrastructure access remains a key prerequisite for advancing exploration and development activities in the district.

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 (UKMP) in northwestern Alaska. On Dec. 19, 2019, South32 Ltd., a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy Metals. 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 polymetallic volcanogenic massive sulphide (VMS) 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 Metals' 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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