Trigon Metals Reports Exceptional October Production from Kombat Mine, Namibia

Mill Throughput (t)

Concentrate Grade (Cu %)

Concentrate Produced (t)

Copper Recovery (%)

Silver Grade in Concentrate (g/t)

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNZTF) (“Trigon” or the “Company”) provides the following operational update from the Kombat Copper Mine in Namibia. The operation produced 901 concentrate tonnes in the month of October at a grade of 29.2% copper and 241 g/t silver.

Commenting, Jed Richardson, Trigon’s CEO and President, said, “In a month that saw the plant reach commercial production and our first concentrate sales, concentrate production topped expectations. We are on track to record an operating profit on October’s production and are very pleased with the efforts of the team and the performance of the mine and mill.”

Table 1: Production Statistics October 2023

Stockpiles on the run-of-mine pad now total 27,000 tonnes of ore averaging close to 1.2% Cu, providing approximately one month’s supply of ore feed.

Qualified Person

The technical information in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.

Investor Relations Webinar

Trigon will be participating in an informational webinar hosted by Focus Communications on Tuesday, November 7, 2023, at 10:00 AM PST/1:00 PM EST. Trigon welcomes stakeholders, investors, and other individual followers to register and attend this live event.

The presentation will feature Jed Richardson, Chief Executive Officer & President and Aidan Sullivan, Vice-President, Investor Relations. Topics to be covered will include the latest investor presentation followed by a live Q&A. Investors interested in participating in this event will need to register using the link below. As a reminder, registration for the live event may be limited, but access to the replay after the event will be on The Company’s Investor website.

Click the link below to register:

Tuesday, November 7, 2023:
https://event.webinarjam.com/register/252/r9lr5frm

About FCIR

Focus Communications is a private Toronto-based firm, specializing in investor relations, corporate development and market awareness services. Utilizing its extensive database of private investors, brokers, analysts and fund managers, FCIR provides customized investor relations solutions for its clients.

About Trigon Metals Inc.

Trigon Metals is a publicly traded Canadian exploration and development company with core operations centered on copper and silver holdings in mine-friendly African jurisdictions. The Company currently operates in Namibia and Morocco. In Namibia, Trigon holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area widely recognized for its high-grade copper deposits, with a focus on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company holds the Silver Hill and Addana projects, which are highly prospective for copper and silver exploration.

Cautionary Notes

This news release may contain forward-looking statements. These statements include but are not limited to statements regarding the Kombat Mine, the Company’s operational performance, and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Trigon, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic, competitive, geopolitical and social uncertainties; the actual results of current mining activities; risks associated with operation in foreign jurisdictions; and other risks inherent in the mining industry. Although Trigon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results may differ materially due to factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.