Trigon Metals Announces May 2024 Production Highlights and Provides Fiscal Year 2025 Guidance

All amounts are in US dollars unless otherwise noted

TORONTO, June 13, 2024–(BUSINESS WIRE)–Trigon Metals Inc. (TSX-V: TM, OTCQB: PNZTF) (“Trigon” or the “Company”) is pleased to announce highlights of its May 2024 underground production at Kombat and provides production guidance for the remainder of its 2025 financial year (“FY 2025”).

May 2024 Production Update

At the Kombat mine, May 2024 saw several record underground mining days, leading to an average production of 12.1 tonnes of copper per day. Underground ore mined during the month totaled 19,664 tonnes at an average grade of 2.16%, leading to the production of 386 tonnes of copper. The Company would like to thank its dedicated Namibian team for this exceptional achievement.

Following the announcement of commercial production from the underground mine (see press release dated May 23, 2024), the Company is pleased to announce that the underground mine continued to perform and exceed the production objectives defined in its study (the Feasibility Study Study”). The Feasibility Study was prepared by SRK Consulting South Africa (Pty) Ltd (“SRK”) in accordance with National Instrument 43-101 Mining Project Information Standards of the Canadian Securities Administrators (“NI 43-101”).

Guidance for fiscal year 2025

The Company’s focus for FY2025 remains on underground production from the Asis West underground complex. Underground production is expected to be between 250,000 and 280,000 tonnes of ore mined for the year, at an average grade of between 1.95% and 2.3% copper. From the ore mined, Trigon expects its metallic copper production to be between 5,500 tonnes (12.1 million pounds) and 6,100 tonnes (13.4 million pounds) for the year.

Cash costs are expected to average US$2.80/lb to US$3.15/lb for the full year, decreasing quarter to quarter as production reaches a steady state.

Rennie Morkel, President and Chief Operating Officer of Trigon, commented: “We are extremely pleased with the accelerated ramp-up of the underground mine and thank our Namibian team for their hard work and continued efforts at Kombat. Our strategy for the next financial year is We have focused on maximizing underground production from the current mining areas and ensuring that we prepare for the next phases of our growth trajectory, both at Asis West and in terms planned reboot of Asis Far West.

The story continues

Upcoming Investor Webinar

The Company is also pleased to announce that Executive Chairman, Jed Richardson, and President and Chief Operating Officer, Rennie Morkel, will present first quarter 2024 production highlights, as well as guidance for fiscal 2025 , during a live webinar taking place on Thursday, June 20 at 3:00 p.m. ET. . ET /12:00 PT.

To register for the event, please click on the link below.
Registration: https://event.webinarjam.com/register/314/nvnpwsv5

Qualified person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, Vice President of Operations of Trigon, who is a Qualified Person within the meaning of National Instrument 43-101.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company whose primary business is focused on copper and silver holdings in mining-friendly African jurisdictions. Currently, the company is present in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining permits in the Otavi Mountains, an area of ​​Namibia widely recognized for its high-grade copper deposits, where the Company is focused on the exploration and redevelopment of the Kombat mine, previously in production. . In Morocco, the Company holds the Silver Hill project, a very promising copper and silver exploration project.

The full NI 43-101 technical report associated with the feasibility study and updated mineral resource and reserve estimates is available on SEDAR+ at www.sedarplus.ca under the company’s issuer profile, as well as only on the company’s website at www.trigonmetals.com.

Cautionary notes

This press release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the mineralization of the Kombat Mine, the economic viability of the Kombat Mine, projected costs and production, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the “Management Discussion and Analysis” section of our most recent interim and annual financial statements or other reports and documents filed with the TSX Venture Exchange and regulations applicable Canadian securities regulations. We undertake no obligation to update any forward-looking statements, except as required by applicable laws.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240613508321/en/

Contacts

For more information, please contact:
Aidan Sullivan
+1 647 276 6002
[email protected]
Website: www.trigonmetals.com