Mr. Jed Richardson reports

TRIGON METALS PROVIDES UPDATE ON THE SALE OF ITS OWNERSHIP INTEREST IN THE KOMBAT MINE, NAMIBIA

Trigon Metals Inc. is providing an update on the previously announced agreement with Horizon Corp. Ltd. for the sale of Trigon's ownership interest in the Kombat mine in Namibia to Horizon.

Both Trigon and Horizon remain committed to completing the transaction and continue to make steady progress toward closing. While the initial internal target date of March 31, 2025, for entering into a binding share purchase agreement (SPA) was not met, work is advancing on the final steps necessary to complete the transaction. The parties continue to collaborate on finalizing the SPA, securing the required approvals and satisfying the closing conditions, and Trigon expects to consummate the transaction.

The key terms of the transaction remain as follows:

• Horizon's loan to Trigon is structured at $4-million (U.S.), disbursed in tranches, with an additional loan option of $2-million (U.S.) for financing flexibility;

• The purchase price for Trigon's shares of the Kombat mine is set at $24-million (U.S.), payable over eight quarterly instalments upon shareholder approval;

• Trigon will retain a 1-per-cent net revenue royalty for each of two consecutive calendar months and a royalty of 1 per cent will be payable for 20 months on net copper revenue when invoiced copper price on final invoicing when specified conditions are met;

• A schedule of follow-up payments related to the start-up of the Asis Far West expansion.

Please see the company's press release dated Feb. 11, 2025 for additional details regarding the transaction.

Jed Richardson, chief executive officer and executive chairman of Trigon Metals, commented: "We are pleased with the progress we have made toward closing the sale of Trigon's interest in the Kombat mine to Horizon. While we would have preferred a faster pace, we are working through the necessary steps to ensure a successful and seamless transition. Both Trigon and Horizon remain fully engaged in finalizing the transaction, and we look forward to delivering a positive outcome for our shareholders."

The company will provide further updates as the transaction advances toward closing. The completion of the transaction remains subject to regulatory approvals, including TSX Venture Exchange approval, Trigon shareholder approval, third party consents and other customary closing conditions.

Further to the company's press releases dated Feb. 21, 2025, and March 6, 2025, the company announces that the following finders' fees were paid in connection with the recently closed non-brokered private placement by the company: (i) Hampton Securities received $3,990 in cash and 15,960 finder's warrants, (ii) EDE Asset Management Inc. received $5,400 in cash and 21,600 finder's warrants, and (iii) Brightmind Ventures Ltd. received $47,450 in cash.

About Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company focused on advancing copper and silver projects in Africa. The company's portfolio includes an 80-per-cent interest in five mining licences in Namibia's Otavi mountainlands, as well as the Kalahari copper project and the upcoming spinout of the Safi silver Moroccan exploration projects, including Addana and Silver Hill.

We seek Safe Harbor.