Mr. Paul Reynolds reports

RIO TINTO EXPLORATION CANADA ENTERS OPTION TO PURCHASE TRIUMPH GOLDA S ANDALUSITE PEAK COPPER-GOLD-SILVER PROPERTY IN NORTHWESTERN BRITISH COLUMBIA

Rio Tinto Exploration Canada Inc. has entered an option agreement to obtain a 100-per-cent interest in Triumph Gold Corp.'s Andalusite Peak property located in northwest British Columbia. Under the terms of the option agreement, Rio Tinto will pay Triumph Gold $3-million over a five-year option period and reserve for Triumph Gold a 1-per-cent net smelter returns royalty, which is capped at $50-million. The sum of $25,000 is payable to the company within 45 days of the agreement date with a further $50,000 payable on or before the first anniversary date of the agreement.

The Andalusite Peak property (31.67 square kilometres) was staked by Triumph Gold in January, 2017, to cover an alteration blowout (a portion of an alteration zone with increased width and alteration intensity) near the centre of a 27 km long corridor of intermediate to advanced argillic alteration that was identified and mapped in 2016 by B.C. Geological Survey geologist Bram van Straaten. Work by Triumph Gold geologists in 2017 and 2018 verified the alteration zone, and identified two trends of high-grade copper, silver and gold mineralization on ridgetops approximately 1.5 km apart: the Gentleman-Julep trend is delineated over 550 metres with seven grab samples that grade greater than 0.5 per cent Cu and up to 3.3 per cent Cu, 22.1 grams per tonne Ag, and 2.8 g/t Au; the Tennessee trend is delineated over 1.5 km with 15 grab samples that grade greater than 0.5 per cent Cu and up to 67 per cent Cu, 500 g/t Ag, and 2.8 g/t Au. For details of geochemical sampling results see press release No. 19-01 dated Jan. 9, 2019, and press release No. 18-03 dated Jan. 22, 2018.

Paul Reynolds, president and chief executive officer of Triumph Gold, commented: "We are very pleased to have Rio Tinto's considerable technical expertise and proprietary exploration techniques directed towards advancing the Andalusite Peak property, while allowing Triumph Gold to focus financial and technical resources on our flagship property, the 100-per-cent-owned, road accessible, Freegold Mountain property in the Yukon Territory. The agreement benefits Triumph Gold in the near term with cash payments and provides exposure to the upside of a potential future mine development through a 1-per-cent net smelter returns royalty."

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

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