Mr. Thomas Wood reports

TRINITY ONE METALS ANNOUNCES DEFINITIVE OPTION AGREEMENT TO ACQUIRE 100% INTEREST IN THE HISTORIC NUEVA CHANARCILLO SILVER MINE IN NORTHERN CHILE

Metales de Chile SpA, a Chilean company established and currently held on behalf of Trinity One Metals Ltd. pending completion of the formal transfer of its shares to the company, has entered into a definitive purchase option agreement signed Aug. 3, 2026, and effective as of July 31, 2026, to acquire a 100-per-cent interest in the Juan Godoy property, located over the historic Chanarcillo silver mine in the Atacama region of northern Chile.

The property covers the historic Juan Godoy discovery area at Chanarcillo, one of South America's most important historic silver districts, and mining exploitation concessions in a highly prospective and infrastructure supported mining region.

Trinity One intends to immediately commence a modern exploration program at Nueva Chanarcillo, with multiple exploration catalysts expected during the rest of 2026.

Closing and payment of the initial consideration are subject to the completion and delivery of customary due diligence and closing documentation for a transaction of this nature.

Highlights:

• Historic discovery area: The property covers the area associated with Juan Godoy's original 1832 silver discovery, which triggered one of the most significant silver rushes in history.
• High-grade historical setting: Sillitoe (2007), summarizing earlier historical work, reported silver grades of approximately 2.0 per cent to 2.5 per cent silver (20,000 to 25,000 grams per tonne silver) within portions of the historic oxidised mineralized zone at Chanarcillo.
• High-grade historic drill intercept: Historic reverse circulation drilling completed by Atna Resources Ltd. in 2002 reported an interval of 2.0 metres grading 2,390 g/t silver.
• Major historic silver district: Public historical records document approximately 100 million ounces of total silver production from the Chanarcillo silver mine. Historic mining reportedly ceased due to flooding of lower workings.
• Established exploitation mining concessions: The property includes fully constituted and registered exploitation mining concessions, providing rights to both explore and exploit the mineral rights, including drilling, mine development, extraction and commercial production, subject to applicable regulatory, environmental and operating approvals.
• Excellent mining jurisdiction and infrastructure: The property is located approximately 65 kilometres south of Copiapo in Chile's Atacama region, with gravel road access just 14 kilometres east of the Pan American highway.

Management commentary

"Chanarcillo is one of South America's great historic silver districts, and Nueva Chanarcillo gives Trinity One exposure to the area surrounding Juan Godoy's original 1832 discovery," said Thomas Wood, chief executive officer of Trinity One Metals.

"The combination of exceptional reported historical silver grades, previous high-grade drilling, established mining concessions and very limited modern systematic exploration creates an exciting opportunity for Trinity One. We intend to move quickly, beginning with geophysics, surface sampling and geological modelling ahead of our planned initial diamond drilling program."

Coming exploration program

The company has already completed a detailed drone-based topographic and aerophotogrammetric survey covering approximately 1,600 hectares, providing a modern digital terrain model across the historic mining district.

The next phase will include:

• High-resolution airborne magnetics -- commencing in August: an unmanned aerial vehicle magnetic survey covering approximately 12 square kilometres; the program is designed to map the structural architecture of the district, identify concealed extensions of mineralized structures, define hydrothermal alteration zones and investigate potential buried intrusive centres;
• Historical mine waste and tailings sampling -- commencing in August: systematic sampling of historic mine dumps, waste material and tailings will begin to assess residual silver grades and determine whether any of this material warrants further metallurgical and reprocessing studies;
• 3-D geological modelling and drill targeting: results from the magnetic survey will be integrated with historical mine plans, previous drilling, surface geology and the newly completed topographic data set to build an updated 3-D geological model and rank priority drill targets;
• Initial diamond drilling -- targeted for fourth quarter 2026: Trinity One is planning an initial diamond drilling campaign focused on shallow extensions of historically mined high-grade silver zones, the area surrounding the historic 2.0 metres at 2,390 grams per tonne silver intercept, together with new targets generated from the airborne magnetic survey.

Importantly, the high-grade silver intercept reported from historical drilling has never been systematically followed up with modern silver focused drilling. Much of the historic mining also followed individual high-grade structures using 19th century mining methods, leaving significant areas between, beneath and along strike from the old workings largely untested by modern exploration.

The company believes this creates a compelling opportunity to combine the extraordinary historical silver endowment of Chanarcillo with modern geophysics, geological modelling and diamond drilling for the first time in a systematic exploration program.

The company expects the coming work program to generate multiple potential news catalysts, including surface sampling results, completion and interpretation of the magnetic survey, announcement of priority drill targets, commencement of drilling, and subsequent assay results.

About Nueva Chanarcillo

The Nueva Chanarcillo project is located in the Atacama region of northern Chile, approximately 65 kilometres south of Copiapo. The project area is accessible by gravel road approximately 14 kilometres east of the Pan American Highway and lies at elevations of approximately 850 metres to 1,250 metres above sea level.

Nueva Chanarcillo represents Trinity One's project area within the broader Chanarcillo silver district, centred on the original 1832 discovery and encompassing the principal historic mine workings and associated tailings.

Silver was first discovered at Chanarcillo by Juan Godoy in 1832 and became one of the most important silver districts in Chilean history. The discovery triggered a major 19th century mining boom, helping establish Copiapo as the centre of Chile's mining industry and generating significant wealth for the newly formed Chilean Republic.

The economic impact of Chanarcillo extended well beyond mining. The silver boom helped finance the development of northern Chile and was a major driver behind construction of the Caldera-Copiapo railway, opened in 1851 as Chile's first railway and one of the earliest in South America. The railway was later extended directly to Chanarcillo to service the mining district. The wealth and mining economy established in Atacama also played an important role in Chile's broader economic and industrial development during the 19th century.

Public historical records, including Sillitoe (2007), in Economic Geology Volume 102, reported that Chanarcillo was mined underground until the early 20th century, estimating total historical production at more than 100 million ounces of silver. Historical records indicate that mining declined after groundwater inflows accidently exceeded the dewatering capacity of mining technology available at the time. Trinity One has not independently verified the historical production figures referenced in this news release. These figures are provided solely for historical context and should not be considered indicative of mineralization that may be present on the property.

Sillitoe (2007), summarizing earlier work by Whitehead (1919), reported that the silver grade of the oxidized zone, which was the source of much of the historical bonanza grade ore, was 2.0 per cent to 2.5 per cent silver, equivalent to 20,000 to 25,000 g/t silver. Sillitoe also reported that the upper part of the underlying sulphide zone, historically interpreted as a supergene enrichment zone, had reported silver grades of 0.35 per cent to 0.8 per cent silver, equivalent to 3,500 to 8,000 g/t silver.

The reported grades described above relate to mineralized zones and ore shoots described in historical technical literature. They do not represent average grades of all material historically mined, average grades of the property, or current mineral resources or mineral reserves.

In 2002, Atna Resources Ltd., then a Toronto Stock Exchange-listed mineral exploration company, completed a reverse circulation drilling program on the property. The program comprised 19 reverse circulation drill holes for a total of 2,830 metres. Atna reported a 2.0-metre interval grading 2,390 g/t silver and 0.25 per cent zinc from 58 metres to 60 metres downhole in drill hole C02-R11.

The historical exploration results referenced in this news release have been compiled by the company from publicly available historical sources. Trinity One has not independently verified the historical exploration results, and such results are historical in nature. The qualified person has not completed sufficient work to classify the historical results as current mineral resources or mineral reserves, and Trinity One is not treating the historical results as current mineral resources or mineral reserves. Historical results should not be relied upon as indicative of future exploration results.

The company cautions that historical reverse circulation drilling of silver-halide-bearing oxide material may be subject to sampling losses, and historical grades may not be representative of the underlying mineralization. Much of the historical production and grade information predates modern reporting standards, has not yet been verified by Trinity One, and should not be relied upon as evidence of a current mineral resource or mineral reserve.

Transaction terms

Under the option agreement, Metales de Chile has been granted the exclusive option to acquire a 100-per-cent interest in the property from Sociedad Legal Minera Juan Godoy Una de la Sierra Chanarcillo.

Aggregate cash option payments required to exercise the option total $10-million (U.S.), payable as follows:

• $150,000 (U.S.) upon execution of the option agreement and delivery of pending documentation;
• $300,000 (U.S.) on or before the date that is 12 months from the effective date of the option agreement;
• $750,000 (U.S.) on or before the date that is 24 months from the effective date of the option agreement;
• $1-million (U.S.) on or before the date that is 36 months from the effective date of the option agreement; and
• $7.8-million (U.S.) on or before the date that is 48 months from the effective date of the option agreement.

The initial $150,000 (U.S.) payment constitutes the minimum commitment under the agreement. Metales de Chile may elect whether to make each subsequent payment and continue the option. Following exercise of the option and acquisition of the property, the vendor will be entitled to a 2.0-per-cent net smelter return royalty.

The transaction and the company's proposed involvement through Metales de Chile remain subject to completion of the formal transfer of the shares of Metales de Chile, applicable corporate and regulatory requirements, and, where required, acceptance by the TSX Venture Exchange. The vendor is arm's length to Trinity One and Metales de Chile. No securities of Trinity One are issuable in connection with the transaction, and no finder's fee is payable.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Jorge Artal Cajiao, senior geologist, a member of the Australasian Institute of Mining and Metallurgy (AusIMM No. 230563), an independent consulting geologist, a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Mr. Artal has reviewed the historical exploration results referenced in this news release but has not independently verified the historical sampling, analytical or quality assurance/quality control procedures employed in the underlying work.

About Trinity One Metals Ltd.

Trinity One is a precious and base metal explorer focused on building a portfolio of high-growth projects with exposure to some of the world's most in demand metals. The company's strategy is to acquire and advance assets with strong geological fundamentals, clear catalysts, and the ability to deliver discovery and growth through disciplined modern exploration.

We seek Safe Harbor.