TORONTO, August 29, 2024--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) ("Trigon" or the "Company") is pleased to announce the results of drilling from the new zone identified in the vicinity of Shaft #3 of the Kombat mine. These areas are outside the proven and probable mine reserves published in March 2024. Mineralization in these areas was initially detected in surface drilling in 2023 and some historic drill work dating back to when Goldfields operated the mine. The holes classified as follow-up have yielded positive results and are outlined below (see Figures 1 and 2). Total volumes and tonnage for a mineral resource estimate have yet to be quantified. At present, drilling is spaced to define a mineral resource estimate in the indicated mineral resource category. Trigon continues its underground drilling operations, with approximately 3,500 meters planned by year-end.

Drilling Results Overview

• E600-017: 3.32% Cu over 7 meters

• E600-018: 2.08% Cu over 4 meters

• E600-044: 2.65% Cu over 3 meters

• E600-045: 2.48% Cu over 3 meters

• E600-047: 2.14% Cu over 5 meters

• E600-055: 2.61% Cu over 2 meters

• E600-056: 2.06% Cu over 2 meters

• E600-065: 2.21% Cu over 4 meters

Jed Richardson, CEO and Executive Chairman of Trigon, commented, "Expanding our reserves and mine plan at Shaft #3 is crucial because it opens up more working faces in an area with untapped extraction capacity. Right now, all our ore is being extracted from the decline ramp adjacent to Shaft #1, which limits us to 1,000 tpd. With the second unused decline at Shaft #3, bringing in new ore from this area will enable us to ramp up extraction. This is especially important as we plan to increase plant throughput from 1,000 tpd to 2,000 tpd next year."

Dr. Andy Rompel, VP Exploration, adds, "Our drilling program to confirm resources, convert resources to reserves and identify new areas of higher grades continues underground. We believe there is potential for the deposit to expand in width further into the dolomites, not only along the dolomite phyllite contact. Soon, we will add exploration drilling to the resource drilling to develop a better understanding of the mineralization processes and consequently the predictability of the deposit."

Next Steps by Trigon

1. Volume and Tonnes Calculation:

• Trigon will estimate block volumes based on drilling intersections and apply the mineralization zone’s s bulk density to convert these volumes into tonnes.

2. Mineral Resource Estimate Category Upgrading:

• Continue drilling within the indicated mineral resource estimate category.

• Consider follow-up drilling at closer intervals in high-grade areas to potentially upgrade to the measured mineral resource estimate category.