Dr. Tony Barresi reports

POSITIVE DRILLING RESULTS FOR TRIUMPH GOLD AT THE BLUE SKY ZONE, FREEGOLD MOUNTAIN PROPERTY, YUKON

Triumph Gold Corp. has released positive results from drilling at the Blue Sky zone on its 100-per-cent-owned, 200-square-kilometre, road-accessible Freegold Mountain property in the Yukon, with an intersection of 218.39 metres of 1.26 grams per tonne gold equivalent contained within 304.39 metres of one gram per tonne gold equivalent.

Triumph Gold's president, Dr. Tony Barresi, PhD, PGeo, commented: "It is with great pleasure that we announce positive drill results from the Blue Sky zone, the second of three areas tested for high-grade, gold-rich, porphyry-style mineralization during the 2019 field season. Earlier in the season, drilling at the WAu breccia met success, intersecting two mineralized zones that combined to form a very good intersection of 601.80 metres averaging 1.1 g/t gold equivalent. That success now continues with another long and rich intersection, 300 metres away, at the Blue Sky zone. As we continue to intersect and improve our understanding of these high-grade breccia bodies, we build capacity to discover more of them and enhance the outcome of incorporating them into a future resource model."

Technical highlights include:

• Intersection of the Blue Sky porphyry breccia, beginning 70 metres closer to surface than anticipated, resulting in 304.39 metres (191.61 to 496 m) of 0.64 g/t gold, 5.9 g/t silver and 0.23 per cent copper, including:
  • 219.39 metres (191.61 to 410 m) of 0.84 g/t Au, 6.9 g/t Ag and 0.27 per cent Cu;
  • With a higher-grade intercept of 51.17 metres (270 to 321.17 m) grading 1.43 g/t Au, 6.6 g/t Ag and 0.31 per cent Cu.

2019 exploration update

The 2019 exploration program on Triumph Gold's Freegold Mountain property is now complete, wrapping up a third consecutive year of aggressive, successful and discovery-driven exploration. Results to date from the 2019 program document continued exploration success with long intersections of gold-rich mineralization at both the WAu breccia and the Blue Sky porphyry breccia in drill holes located approximately 300 metres apart.

Since 2017, renewed focus on the Revenue-Nucleus area of the Freegold Mountain property has resulted in multiple high-grade discoveries, including the high-grade Blue Sky porphyry breccia.

The 2019 program included seven drill holes (5,557.26 metres) designed to test for a buried gold-copper porphyry system beneath the six-kilometre-long Revenue-Nucleus soil and geophysical anomaly. Three targets, spanning a 1.7-kilometre strike length, were selected for drilling: the WAu breccia, the Blue Sky porphyry breccia and Big Red (a geophysical anomaly). Results are still pending for one drill hole at the WAu breccia and two drill holes that tested Big Red; these data will be released as they are received and validated.

The Revenue-Nucleus area, which was the focus of the 2019 drill program, covers just a small portion of the 200-square-kilometre Freegold Mountain property. Other exploration on the same highly prolific property included trenching, mapping and hyperspectral surveys at: the Goldstar/Irene epithermal gold vein target; the previously undrilled but drill-ready Cabin porphyry system; and the Tinta polymetallic vein deposit. These results are pending and will be released in upcoming weeks.

About the Blue Sky zone

Relatively high-grade, gold-rich mineralization in the Blue Sky porphyry breccia was first discovered in 2017 and 2018. It is demonstrated over 180 metres in a northeast-southwest direction and occupies the northeastern extent of a 500-metre-long corridor of well-mineralized rock that includes the WAu breccia (400.48 metres of 0.73 g/t Au, 6.9 g/t Ag, 0.23 per cent Cu and 0.025 per cent molybdenum from 77.52 metres as well as 102.50 metres of 0.73 g/t Au, 1.5 g/t Ag, 0.18 per cent Cu and 0.055 per cent Mo from 560.50 metres in RVD19-02; see press release dated Sept. 12, 2019) and porphyry-related, stockwork-style mineralization (238.10 metres of 0.31 g/t gold and 0.13 per cent copper in RVD11-22). The high-grade Blue Sky porphyry breccia is modelled as an irregular-shaped body with a steeply dipping upper surface that is open along strike to the west and down dip.

Mineralization associated with the Blue Sky porphyry breccia consists of chalcopyrite and molybdenite in quartz veins, hydrothermal breccia matrix, and disseminated in hydrothermally altered mid-Cretaceous granite and late syn-mineral quartz-feldspar porphyry dikes (see press release dated Sept. 12, 2018, for a full list of the 2017/2018 high-grade intersections). The most intense mineralization is associated with strong potassic alteration (potassium feldspar grading outward into biotite). A set of late quartz-carbonate veins is concentrated within the main mineralized zone and contains variable amounts of chalcopyrite, molybdenite, galena, sphalerite, bismuthinite and visible gold. Although the breccia is gold-rich throughout, late quartz-carbonate veins represent an important second stage of gold enrichment.

Technical details of RVD19-03 and RVD19-04

During the 2019 exploration program, two drill holes were completed at the Blue Sky zone, totalling 1,598.98 metres.

RVD19-03 was drilled steeply (minus-85 degrees) north-northwest to test for the downdip extension of the Blue Sky porphyry. Although low-grade porphyry gold-copper mineralization was intersected from surface to 435 m depth (see an attached table), RVD19-03 did not intersect the zone of high-grade mineralization. RVD19-03 was designed as a derisking/information-gathering hole in preparation for RVD19-04, so the information gained by drilling RVD19-03 was used to modify the planned orientation of RVD19-04, leading to successful intersection of the Blue Sky porphyry breccia.

RVD19-04 was designed to drill down plunge of the Blue Sky porphyry breccia to efficiently test continuity of mineralization to depth, while also using the breccia body as a vector toward an underlying porphyry system. RVD19-04 intersected the mineralized zone approximately 70 metres above where previously modelled. According to the updated model, RVD19-04 exited into the footwall of the mineralized zone at 496 metres because the inclination of the hole was too steep; however, mineralization remains open at depth. In addition to making a long intersection of the high-grade Blue Sky porphyry breccia, several domains of lower-grade mineralization were intersected near surface in the hangingwall and in the footwall (see an attached table).

Methods and qualified person

Drill core samples ranged between one and two m of length and were cut at Triumph's core logging facility on the Freegold Mountain property. The samples were analyzed by SGS Canada of Vancouver, B.C. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75 per cent passing two millimetres, and a 250-gram split was pulverized to better than 85 per cent passing 75-micrometre mesh. Gold was tested by fire assay with atomic absorption finish on a 30 g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using a 50 g sample and a gravimetric technique. An additional 35 elements were tested by inductively coupled plasma atomic emission spectroscopy using a four-acid digestion (method GE ICP40B), and overlimit samples for copper were retested using the same technique, but with ore-grade four-acid digestion and a higher range of detection (method GA AAS42S). Quality assurance/quality control are maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional quality assurance/quality control program was administered by Triumph Gold: at minimum, three quality control samples, consisting of blanks, certified reference standards and duplicates, are blindly inserted into each 75-sample batch. Quality assurance/quality control samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed quality assurance/quality control sample.

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

About Triumph Gold Corp.

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

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