Mr. Paul Reynolds reports

TRIUMPH GOLD PROVIDES CORPORATE UPDATE

Triumph Gold Corp. has provided the following corporate update.

The company has recently completed a private placement financing raising gross proceeds of $5,122,913 ($2,960,315.40 flow-through and $2,162,597.85 non-flow-through) and issued 6,041,460 flow-through units at 49 cents per flow-through unit and 6,178,851 units at 35 cents per unit. In connection with the financing, the company has paid finders' fees totalling $130,840.70 and issued 241,259 finder's warrants. Each finder's warrant is exercisable to acquire one share in the capital of the company at an exercise price of 60 cents per share until such date that is 24 months from the date of issuance (for further details see press release No. 19-13 dated July 24, 2019). Triumph Gold plans to allocate the proceeds of the offering to exploration on its 100-per-cent-owned, road-accessible, Freegold Mountain property in the Yukon territory, and to general working capital.

The company's 2019 phase I drill campaign (see PR No. 19-10 dated June 18, 2019) is approximately 50 per cent complete. It is designed to test for a mineralized porphyry system beneath areas where high-grade copper gold silver breccia mineralization were intersected in 2017 and 2018 (such as 315 metres of 1.1 grams per Au, five g/t Ag, 0.27 per cent Cu and 0.02 per cent Mo; see PR No. 18-09 dated Sept. 12, 2018).

Pursuant to its stock option plan, the company is issuing 2.85 million options to officers and directors. The options are priced at 55 cents and are valid for a period of five years. The stock options will vest 25 per cent immediately, 25 per cent after six months, 25 per cent after 12 months and 25 per cent after 18 months.

Qualified person

The technical content of this news release has been reviewed and approved by Tony Barresi, PhD, PGeo, vice-president of exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold is a growth-oriented Canadian-based precious metals exploration and development company. Triumph Gold is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon.

We seek Safe Harbor.