Mr. Thomas Wood reports

TRINITY SILVER ANNOUNCES EL NEVADO GOLD & SILVER PROJECT OPTION AGREEMENT IN CHILE'S MARICUNGA GOLD BELT

Metales de Chile SpA, a Chilean company established and currently held on behalf of Trinity Silver Corp. pending completion of the formal transfer of its shares to the company, has entered into a definitive agreement dated Oct. 6, 2026, to acquire an option to acquire a 100-per-cent interest in El Nevado gold and silver project in Chile's Atacama region.

El Nevado provides the company a foothold in Chile's prolific Maricunga gold belt, encompassing ground previously held by Teck Resources and other operators and, to the company's knowledge, consolidating these holdings into a single project for the first time. The project combines high-grade gold and silver intersections from historical near-surface drilling with an extensive exploration database, providing a strong platform to pursue the next discovery.

Highlights:

• Shallow, high-grade gold: historical drilling in hole 5300-8 returned 48 metres at 2.84 grams per tonne gold and 19.2 g/t silver from just 16 metres, including 24 metres at 5.04 g/t gold and 28.3 g/t silver from 20 metres;
• High-grade silver: historical drilling in hole 5700-1 returned six metres at 211 g/t silver from 215 metres, including one metre at 1,049 g/t silver from 216 metres;
• Mineralization from surface: hole 5300-7, approximately 100 metres east of 5300-8, returned 36 metres at 0.62 g/t gold and 12.1 g/t silver from surface, including four metres at 2.07 g/t gold and 33.4 g/t silver from 12 metres;
• A substantial head start: 84 completed historical holes and approximately 12,910 metres of drilling, supported by 1,909 primary surface samples, geological logs, assay records, magnetics and induced polarization surveys;
• A kilometre-long deeper target: historical IP modelling outlined a one-kilometre-metre-long, north-plunging anomaly approximately 150 to 300 metres below surface, interpreted as a potential sulphide-rich core, a substantial corridor for renewed targeting and assessment of further drilling;
• More than 1.4 km of exploration scale: historical mapping and drilling identified an extensive high-sulphidation epithermal alteration and mineralization footprint, with structural targets interpreted to extend along strike and down plunge;
• Maricunga gold belt location: the project sits approximately 30 kilometres southeast of the Maricunga gold mine, within northern Chile's established Maricunga gold belt;
• Large claim package: seven registered mining manifestations covering 1,800 hectares.

All reported drill intervals are historical downhole lengths. True widths have not been determined. The selected intersections do not establish continuity or average grades across the project, and no current mineral resource or mineral reserve has been established.

About El Nevado gold and silver project

El Nevado is located within Chile's established Maricunga gold belt, approximately 30 kilometres southeast of Kinross' Maricunga gold mine. The project is situated in the Tierra Amarilla commune of Chile's Atacama region, approximately 130 kilometres east-southeast of Copiapo.

The project covers ground previously held by Teck Resources. Historical drilling and mapping identified gold-silver mineralization in altered volcanic rocks, including vuggy silica and silica-pyrite breccias. Exploration returned shallow gold-silver intersections and separate silver-rich intervals, providing a substantial historical dataset for renewed geological assessment.

The Maricunga gold belt hosts several major gold projects and deposits, placing El Nevado within a recognized precious metal district. Nearby deposits provide regional geological context but do not establish El Nevado's grade, size or economic potential. No mineral resource or mineral reserve has been defined on the project, and there is no assurance that further work will result in a mineral resource classification.

Historical exploration

Historical exploration at El Nevado has generated an extensive technical database and encouraging gold and silver intersections, providing a foundation for assessing the project's exploration potential. Highlights include broad mineralized intervals from surface and shallow depths, higher-grade gold and silver intervals, and silver-rich intersections with localized copper mineralization.

Historical aircore drilling completed in 2019 returned:

• Hole 5300-8: 48 metres at 2.84 grams per tonne gold and 19.2 g/t silver from just 16 metres, including 24 metres at 5.04 g/t gold and 28.3 g/t silver from 20 metres;
• Hole 5300-7, approximately 100 metres east: 36 metres at 0.62 g/t gold and 12.1 g/t silver from surface, including four metres at 2.07 g/t gold and 33.4 g/t silver from 12 metres.

The historical assay database contains further encouraging results beyond the discovery hole. Additional intervals calculated from the original 2019 assay records include:

• Hole 5300-15: 16 metres at 2.51 g/t gold and 6.82 g/t silver from 32 metres, including eight metres at 4.28 g/t gold and 7.34 g/t silver from 36 metres;
• Hole 5300-12: 12 metres at 1.98 g/t gold and 11.95 g/t silver from 92 metres, including four metres at 4.06 g/t gold and 19.2 g/t silver from 96 metres;
• Hole 5300-16: 12 metres at 1.36 g/t gold and 28.1 g/t silver from just eight metres, including four metres at 3.14 g/t gold and 60.5 g/t silver from 12 metres.

These intersections add to the historical results available for geological interpretation and new target evaluation. They are calculated composites of historical assays, rather than new drilling results or reproductions of previously published intervals.

Historical drilling also identified silver-rich mineralization and localized copper, with reported intersections, including:

• Hole 6500-2: 16 metres at 88 g/t silver from 44 metres, including four metres at 148 g/t silver from 52 metres;
• Hole 6500-3: 20 metres at 39.3 g/t silver from 68 metres, including four metres at 92 g/t silver from 68 metres;
• Hole 5700-1: six metres at 211 g/t silver from 215 metres, including one metre at 1,049 g/t silver from 216 metres; the same hole returned 37 metres at 0.24 per cent copper from 181 metres, including the same one-metre interval at 5.4 per cent copper.

The historical El Nevado database records 84 completed drilling records totalling approximately 12,910 metres, supported by geological logs, assay records, 1,909 primary surface samples, magnetic surveys and induced polarization surveys. This body of work provides a substantial technical basis for Trinity's review of the geological model and prioritizing areas for further assessment.

Historical interpretation reported in March, 2019, identified alteration and near-surface mineralization extending over more than 1.4 kilometres along strike. This represents an interpreted exploration footprint, rather than a demonstrated continuous mineralized body or mineral resource.

All exploration results described above are historical. Intervals represent downhole lengths, and true widths have not been determined. Included intervals form part of their respective broader intersections and do not represent additional metres. For additional details, including a full table of the historical results, please refer to the company's website.

The additional intervals for holes 5300-12, 5300-15 and 5300-16 were calculated by averaging consecutive, equal length four-metre laboratory composites, without capping or internal dilution. Each constituent gold assay exceeds 0.2 g/t. The relevant Actlabs certificates specify fire assay with an atomic absorption finish for gold and aqua regia digestion with mass spectrometry for silver.

The selected results do not establish average grades across the project. No current mineral resource or mineral reserve has been established.

The exploration results disclosed in this news release are historical in nature and were completed by previous operators. Neither the company nor its qualified person has done sufficient work to independently verify the historical analytical results, sampling procedures, assay methodologies, quality assurance and quality control procedures, or drill core recoveries associated with the historical work.

The historical exploration information presented above has been compiled from publicly available Australian Securities Exchange announcements released by EMU NL and historical technical records.

The company is not treating the historical drill hole information as current drilling results. The company believes that the historical information is relevant to assessing the mineral potential of the project and provides a reasonable basis for planning future exploration. However, the reader is cautioned that the historical results should not be relied upon as necessarily indicative of future exploration results

Management commentary

"El Nevado represents an exciting opportunity to expand Trinity's Chilean portfolio with a project that has already delivered meaningful historical gold and silver intersections," said Thomas Wood, chief executive officer of Trinity Silver.

"The combination of shallow mineralization, a substantial exploration database and a location in the Maricunga gold belt gives us a strong starting point for a fresh technical assessment."

Transaction terms

The option provides for total cash payments to the optionors of $7-million (U.S.) over five years, comprising $100,000 (U.S.) on signing, $200,000 (U.S.) on each of the first and second anniversaries, $500,000 (U.S.) on the third anniversary, $1-million (U.S.) on the fourth anniversary and $5-million (U.S.) on the fifth anniversary.

The initial $100,000 (U.S.) is included in the $7-million (U.S.) total and represents the minimum purchase price commitment. Subsequent instalments are payable only if Metales de Chile elects to continue the option. Withdrawal remains subject to surviving obligations, and all prior payments are non-refundable.

The optionors are also entitled to an additional $3-million (U.S.) on commencement of commercial production at the project. In addition, an aggregate 3.1-per-cent net smelter return royalty on the project is to be granted upon full exercise of the option by Metales de Chile. A minimum annual royalty payment of $1,000 (U.S.) is payable to the optionors from the calendar year following exercise of the option and is credited against its royalty.

The transaction is an arm's-length transaction, and no finders' fees are to be paid in connection with the transaction. The transaction remains subject to TSX Venture Exchange approval. Closing of the transaction remains subject to the completion and delivery of customary closing documentation for a transaction of this nature.

Qualified person and data verification

Enkhtuvshin Khishigsuren, PEng, a geological consultant to the company and a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical disclosure contained in this news release.

The qualified person has not verified the historical exploration results disclosed in this news release, including the underlying sampling, analytical and test data. The historical results should therefore be regarded as unverified and will require confirmation through further technical evaluation and appropriate exploration work.

Historical exploration results provide a basis for further evaluation. They do not establish a mineral resource, mineral reserve or economic viability, and there is no assurance that further work will reproduce the reported grades.

About Trinity Silver Corp.

Trinity Silver is a mineral exploration company advancing a portfolio of precious and base metal projects. Its strategy is to acquire and evaluate projects through systematic exploration and technical assessment.

We seek Safe Harbor.