Dr. Tony Barresi reports

TRIUMPH GOLD ANNOUNCES PROMISING DRILL RESULTS FROM THE FREEGOLD MOUNTAIN PROPERTY, YUKON, INCLUDING 174 G/T GOLD OVER 1 METRE IN THE WAU BRECCIA

Triumph Gold Corp. results from RVD19-05, RVD19-06 and RVD19-07, the final three holes of the 2019 drill campaign on its 100-per-cent-owned, 200-square-kilometre, road-accessible Freegold Mountain property in the Yukon.

Triumph Gold president, Dr. Tony Barresi, PhD, PGeo, commented: "We are now even more convinced that a buried gold-rich porphyry system exists beneath the six-kilometre-long Revenue-Nucleus soil anomaly. Having completed seven of the deepest holes ever drilled on the property, we now have additional compelling evidence of a buried porphyry in each of the three areas tested, including long intersections of high-grade copper-gold mineralization, bonanza-grade gold mineralization, an interpreted cupola (uppermost mineralized portion) of a causative intrusion beneath the WAu breccia, and clasts scavenged from another mineralized cupola 700 metres away in the Revenue diatreme."

Technical highlights include:

• Intersection of high-grade gold mineralization in the WAu breccia: 174 grams per tonne (g/t) gold (Au) and 43 g/t silver (Ag) over one metre (m) in RVD19-06 from 391.00 to 392.00 m;
• Intersection of three porphyry-related mineralized zones in RVD19-06 at the WAu breccia, demonstrating continuity of two, greater than 200 m deep, mineralized bodies that were first intersected earlier this year in RVD19-02:
  • Hangingwall porphyry (80.50 m of 0.66 g/t gold equivalent from 60.00 to 140.50 m);
  • WAu breccia (43.00 m of 0.98 g/t AuEq from 391.00 to 434.00 m, using a top cut of 10 g/t Au, and 88.34 m of 0.57 g/t AuEq from 453.00 to 541.34 m);
  • Magnetite-chalcopyrite breccia in strongly potassic-altered granite (36.21 m of 0.44 g/t AuEq from 637.97 to 674.00 m);
• Verifying a high-grade near-surface oxide and supergene zone with RVD19-07, which collared along the south-central contact of Revenue diatreme (12.00 m of 2.35 g/t AuEq from 24.00 to 36.00 m), and extending the known depth of mineralization below that zone from 63.70 m (historical drill hole GRS84-07) to 147.50 m (124.50 m of 0.57 g/t AuEq from 23.00 to 147.50 m in RVD19-07);
• Multiple geological features indicating presence of, or proximity to, mineralized cupola(s) of a buried porphyry intrusion at both the WAu breccia and Revenue West.

                     HIGHLIGHTED RESULTS FROM RVD19-06 AND RVD19-07 
 
Drill hole      From       To     Length       Au      Ag     Cu      Mo         AuEq        CuEq
                 (m)      (m)        (m)    (g/t)   (g/t)    (%)     (%)        (g/t)         (%)

RVD19-06       60.00   140.50      80.50    0.201     1.0  0.096   0.060        0.664       0.585
and           286.50   308.30      21.80    0.229     2.7  0.161   0.015        0.529       0.466
and           391.00   434.00      43.00    4.528     4.3  0.074   0.023        4.793       4.222
or (1)        391.00   434.00      43.00    0.714     4.3  0.074   0.023        0.979       0.862
including     391.00   392.00       1.00   174.00    43.0  0.045   0.001       174.54      153.74
and           453.00   541.34      88.34    0.401     1.1  0.042   0.019        0.567       0.500
including     540.00   541.34       1.34    9.720    22.0  0.594   0.005       10.670       9.399
and           637.79   674.00      36.21    0.242     1.1  0.096   0.013        0.437       0.384
RVD19-07       23.00   147.50     124.50    0.406     1.7  0.115   0.003        0.573       0.505
including      24.00    69.82      45.82    0.753     3.0  0.197   0.004        1.033       0.910
including      24.00    36.00      12.00    1.787     7.3  0.403   0.004        2.348       2.068

(1) 10 g/t Au top-cut applied to this intersection only.

Final results from the 2019 drill program on Triumph Gold's Freegold Mountain property include drill holes RVD19-05, RVD19-06 and RVD19-07 totalling 2,294.07 m. RVD19-05 and RVD19-07 were drilled near Revenue West testing for porphyry mineralization indicated by a geophysical anomaly (Big Red; see news release dated June 18, 2019). RVD19-06 was drilled at the WAu breccia and was an addition to the planned program following successful drilling at the WAu breccia early in the 2019 exploration season (that is, 400 m of 1.2 g/t AuEq and 102 m of 1.3 g/t AuEq). Previously released results from the 2019 drill program are reported in PR19-16 dated Sept. 12, 2019 (WAu breccia), and PR19-19 dated Oct. 30, 2019 (Blue Sky porphyry breccia).

High-grade gold mineralization in the Revenue area

New results from RVD19-06 demonstrate that the WAu breccia hosts discrete veins or zones of high-grade gold mineralization. The core sample that yielded 174.0 g/t Au and 43.0 g/t Ag over one metre contains a 1.5-centimetre-thick quartz-carbonate-chalcopyrite-bismuthinite-scheelite vein with significant visible gold. This is a style of vein that is observed throughout the Revenue-WAu breccia-Blue Sky area. Other high-grade gold intersections at the WAu breccia include 40.5 g/t Au and 98 g/t Ag over one metre in RVD11-19 (from 376.60 m), 27.2 g/t Au over 1.48 metres in RVD18-08 (from 216.50 m) and 19.4 g/t Au and 29 g/t Ag over one metre in RVD19-02 (from 197.00 m). Discrete high-grade intercepts elsewhere in the Blue-Sky Revenue area include 48 g/t Au over 1.52 metres in RVRC10-020 (from 82.30 m), 45.0 g/t Au over one metre in RVD17-14 (from 129.00 m), and 39.4 g/t Au over one metre in RVD18-19 (from 376.60 m). Most of these intersections are contained within much larger intervals of lower-grade copper-gold mineralization that comprise the bulk-tonnage-style porphyry targets that have been the focus of recent exploration. However, closely spaced stepout drilling to better delineate these gold-rich veins within the lower-grade bodies may be warranted in order to demonstrate continuity and potentially upgrade contained precious metals in future resource estimates.

WAu breccia -- demonstrating continuity of deep porphyry-related mineralization and new intersection of bonanza grade gold

The WAu breccia is a south-dipping tabular body of polymetallic mineralization that, prior to 2019, had been tested to a maximum depth of 200 metres below surface. The 2019 exploration program identified a downdip extension of the well-mineralized WAu breccia to a depth of approximately 400 m, as well as underlying magnetite-chalcopyrite breccia in strongly potassic-altered granite (RVD19-02; see news release dated Sept. 12, 2019). The latter is interpreted as a style of high-temperature mineralization that formed proximal to a causative porphyry intrusion.

RVD19-06 was designed to further test the WAu breccia mineralization system, both near surface and to depth. It intersected three distinct mineralized domains: (1) near-surface (from 60.00 m) molybdenum-rich porphyry-style mineralization in the hangingwall of the WAu breccia, (2) WAu breccia-style mineralization (from 286 m where it overprints hangingwall-style mineralization) with local bonanza grade gold, and (3) chalcopyrite-magnetite breccia (from 601.75 m) in moderately to strongly K-feldspar, biotite, magnetite-altered granite. Evidence of proximity to a mineralized cupola and core domains of a causative porphyry intrusion include:

• Breccia with aplite matrix and juvenile aplite clasts that contain mineralized miarolitic cavities (miaroles) (428 to 434 m with 0.71 g/t AuEq);
• A deeper 88.34-metre section (453.00 to 541.34 m of 0.57 g/t AuEq) of breccia with magmatic (aplite/granophyre) matrix that transitions into hydrothermal matrix (quartz-sulphide to massive sulphide (that is, 1.34 m of 10.67 g/t AuEq from 540.00 m));
• A domain of moderately to strongly potassic-altered granite with a core of chalcopyrite-magnetite breccia (637.79 to 674.00 m of 0.44 g/t AuEq).

Revenue West -- gold- and copper-rich supergene mineralization, and evidence of proximity to a porphyry intrusion cupola

Revenue West, which comprises the western margin of the Revenue diatreme (approximately 1.35 kilometres to the east of the WAu breccia), has demonstrated near-surface mineralization, observed in outcrop and in core from historical drilling. RVD19-05 and RVD19-07 were both designed to test a buried chargeability anomaly centred approximately 650 metres below surface at Revenue West. Both drill holes crossed the geophysical anomaly, encountering propylitic to potassic-altered granite with approximately 1 per cent disseminated sulphides (mostly pyrite with minor chalcopyrite). Although the drill-tested sections of the geophysical anomaly (Big Red) did not represent porphyry-related mineralization zones, both drill holes did intersect porphyry-related mineralization in other portions of the holes. In addition, observations from RVD19-07 suggest proximity to a mineralized cupola zone, similar to what has been interpreted at the WAu breccia 700 metres to the east.

RVD19-05 intersected potassic-altered granodiorite with chalcopyrite- and molybdenite-bearing quartz and/or biotite-magnetite veins from surface to 126.49 m depth. From 126.49 m to the bottom of the hole at 771.60 m a continuously but weakly mineralized fault zone was intersected. Coherent fault blocks contain evidence of proximity to a mineralized porphyry system, including mineralized stockwork veining, multiple porphyritic intrusive phases, and potassic-, propylitic- and phyllic-altered rock.

RVD19-07 collared within the Revenue diatreme, near its south-central contact with the surrounding Revenue granite, in an area with conspicuous copper-carbonate-(malachite and azurite)-stained regolith. It intersected strong oxide and supergene mineralization to a depth of 36.00 m, followed by mixed supergene and hypogene mineralization to a depth of 147.50 m. Previous drilling (GRD84-07) had only demonstrated mineralization to a depth of 63.70 m. Also within the diatreme, lower-grade copper mineralization between 165.50 and 181.00 m is related to premineralized clasts that had been scavenged by the diatreme. The clasts include:

• Quartz-saturated quartz-feldspar porphyry with classic unidirectional solidification textures (UST) and clotty chalcopyrite; this is a hydrothermal-magmatic texture associated with cupola zones, often related to porphyry deposits;
• Quartz-feldspar-porphyry with narrow wavy quartz veins containing disseminated bornite and chalcopyrite; these are consistent with porphyry model A veins.

At 416 metres the hole penetrated through the southern margin of the diatreme into propylitic grading to potassic-altered granite with magnetite-biotite veins. Several narrow potassic-altered quartz-feldspar porphyry dikes and breccia zones yielded gold concentrations up to 2.7 g/t and copper up to 1.46 per cent. Strongly altered granite between 515.60 and 521.45 m yielded even higher-grade assays up to 11.6 g/t Au and 1.81 per cent Cu. Triumph Gold geologists believe that the clasts in the Revenue diatreme, as well as the discrete potassic-altered and mineralized breccia and dikes in the adjacent granite are indications of proximity to the buried porphyry system. The area encompassing the south-central contact between the Revenue diatreme and surrounding granite is a new high-priority area for future exploration targeting the causative intrusion.

            FULL TABLE OF SIGNIFICANT RESULTS FROM RVD19-05, RVD19-06 AND RVD19-07
 
Drill hole      From       To     Length        Au      Ag     Cu      Mo         AuEq        CuEq
                 (m)      (m)        (m)     (g/t)   (g/t)    (%)     (%)        (g/t)         (%)

RVD19-05       12.19    50.60      38.41     0.197     1.5  0.111   0.006        0.375       0.330
and            94.49   129.65      35.16     0.199     1.7  0.123   0.004        0.381       0.336
and           201.68   206.00       4.32     0.239     3.7  0.167   0.011        0.531       0.468
RVD19-06       60.00   140.50      80.50     0.201     1.0  0.096   0.060        0.664       0.585
and           286.50   308.30      21.80     0.229     2.7  0.161   0.015        0.529       0.466
and           391.00   434.00      43.00     4.528     4.3  0.074   0.023        4.793       4.222
or (1)        391.00   434.00      43.00     0.714     4.3  0.074   0.023        0.979       0.862
including     391.00   392.00       1.00   174.000    43.0  0.045   0.001      174.539     153.740
including     402.75   411.00       8.25     1.114    12.4  0.207   0.043        1.739       1.532
including     428.00   434.00       6.00     0.507     3.7  0.123   0.004        0.713       0.628
and           453.00   541.34      88.34     0.401     1.1  0.042   0.019        0.567       0.500
including     540.00   541.34       1.34     9.720    22.0  0.594   0.005       10.670       9.399
and           637.79   674.00      36.21     0.242     1.1  0.096   0.013        0.437       0.384
RVD19-07       23.00   147.50     124.50     0.406     1.7  0.115   0.003        0.573       0.505
including      24.00    69.82      45.82     0.753     3.0  0.197   0.004        1.033       0.910
including      24.00    36.00      12.00     1.787     7.3  0.403   0.004        2.348       2.068
and           165.50   181.00      15.50     0.055     3.0  0.172   0.010        0.338       0.298
and           204.00   205.50       1.50     1.580     3.0  0.128   0.022        1.887       1.662
and           223.50   225.00       1.50     2.260     3.0  0.227   0.007        2.594       2.285
and           331.48   332.48       1.00     0.044     6.0  0.993   0.139        2.042       1.799
and           455.50   456.50       1.00     0.279    19.0  1.460   0.001        2.153       1.897
and           515.50   521.45       5.95     2.724     9.1  0.414   0.021        3.419       3.012
including     516.50   517.50       1.00    11.600    41.0  1.810   0.057       14.444      12.723

(1) 10 g/t Au top-cut applied to this intersection only.

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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