Trigon Announces Resignation of Director and Stock Option Grant

TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) (“Trigon” or the “Company”) announces the resignation of Dr. David Shaw from the Company’s Board of Directors, effective immediately.

Dr. Shaw has faithfully served on the Board of Directors since 2019. The Company wishes to thank him for his contributions and dedicated service to Trigon over the past five years, and wish him much success in his future endeavors.

Jed Richardson, CEO and Executive Chairman of Trigon, commented, “We wish to thank David for his valuable insights and oversight as a director and wish him a very happy retirement.”

Stock Option Grant

The Company has granted a total of 125,000 stock options to an officer pursuant to its stock option plan. The options may be exercised at a price of $0.82 per option for a period of five years from the date of grant. The grant of options remains subject to the approval of the TSX Venture Exchange.

The Company has amended the share exchange agreement between the Company, PNT Financeco Corp. (formerly Base Metal Investment Services) and Commodity Makers International (“CMI”) dated November 29, 2023 (the “SEA”) to permit any unissued Trigon common shares issuable to CMI pursuant to the SEA to be issued immediately prior to any transaction which results in Change in Control (as defined in the SEA, as amended) of Trigon.

Trigon Metals Inc.

Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the Company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the stock option grants, the amendments to the SEA, changes to the Company’s board of directors, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Mine, 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 because of 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) accepts responsibility for the adequacy or accuracy of this release.