Mr. Matthew Keevil reports

TRILOGY METALS ANNOUNCES PUBLICATION OF NOTICE OF INTENT BY U.S. ARMY CORPS OF ENGINEERS FOR ALASKA'S HIGH-GRADE ARCTIC COPPER-ZINC-LEAD-GOLD-SILVER PROJECT

The U.S. Army Corps of Engineers (USACE) has published a notice of intent (NOI) to prepare an environmental impact statement (EIS) for Trilogy Metals Inc.'s flagship Arctic project in northwestern Alaska's Ambler mining district. Publication of the NOI formally initiates the environmental review of the project under the National Environmental Policy Act (NEPA) and launches the public scoping phase. The high-grade Arctic copper-zinc-lead-gold-silver project is being advanced by Ambler Metals LLC, Trilogy's 50/50 joint venture with South32 Ltd.

Highlights

• U.S. Army Corps of Engineers publishes notice of intent to prepare an environmental impact statement, formally commencing the NEPA review for the Arctic project;
• Publication of the NOI launches the public scoping phase and marks a major milestone on the co-ordinated and transparent FAST-41 permitting schedule;
• Milestone achieved on schedule, consistent with the integrated federal and state timetable published on the permitting dashboard in July, 2026;
• Schedule continues to target a draft environmental impact statement in October, 2027, and a record of decision in September, 2028.

The NOI is the first key federal milestone on the co-ordinated federal and state permitting schedule published on the Federal Permitting Improvement Steering Council's permitting dashboard at permits.performance.gov in July, 2026. With the NOI published, the USACE has commenced the public scoping process, during which the agency invites comments from the public, local residents, regional organizations, tribes and other stakeholders to help identify the significant issues and reasonable alternatives to be analyzed in the EIS.

The USACE, which received Ambler Metals' Clean Water Act Section 404 permit application filed on April 20, 2026, is the project's lead federal agency. Under the published schedule, the USACE and co-operating agencies have committed to an estimated 29-month integrated federal and state review timetable, materially ahead of the historical baseline for comparable federal reviews. With the NOI now published, the schedule continues to target publication of a draft EIS in October, 2027, and a record of decision in September, 2028, to be completed concurrently with state of Alaska and Northwest Arctic Borough permitting milestones. The record of decision represents the culmination of the federal environmental review under NEPA, and the remaining federal and state authorizations that follow drive the schedule's targeted overall completion in November, 2028.

Tony Giardini, president and chief executive officer of Trilogy, commented: "Reaching the notice of intent on schedule underscores the discipline and coordination that FAST-41 brings to the Arctic project. This milestone launches the NEPA review and public scoping phase and keeps us on a timeline to a record of decision in September, 2028 -- materially ahead of the historical norm for comparable federal reviews. With the U.S. reliant on foreign nations for much of its copper, the structured, transparent advancement of a nationally important critical minerals asset like Arctic has never been more strategically important."

Ron Rimelman, president of Ambler Metals, added: "This notice of intent opens an exciting new chapter for the Arctic project. We welcome this thorough public process as an opportunity to continue to demonstrate our commitment to meeting the highest environmental standards and ensuring Alaskans benefit from this development. Earning and maintaining our social license to operate is essential, and we remain dedicated to ensuring this project supports traditional and subsistence lifestyles while serving as a powerful engine for long-term economic self-determination for northwest Alaska communities."

For more information about the FAST-41 permitting program, see Trilogy's news releases dated May 15, 2026, and July 16, 2026.

About Trilogy Metals Inc.

Trilogy Metals is a metal exploration and development company holding a 50-per-cent interest in Ambler Metals, which has a 100-per-cent interest in the Upper Kobuk mineral projects (UKMP) in northwestern Alaska. On Dec. 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy Metals. The UKMP is located within the Ambler mining district, which is one of the richest and most prospective known copper-dominant districts in the world. It hosts polymetallic volcanogenic massive sulphide (VMS) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler mining district -- the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corp. Inc., an Alaska native corporation, that provides a framework for the exploration and potential development of the Ambler mining district in co-operation with local communities. Trilogy Metals' vision is to develop the Ambler mining district into a premier North American copper producer while protecting and respecting subsistence livelihoods.

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