Trident Royalties Plc noted recent announcements by Apollo Consolidated Ltd. ("Apollo") regarding positive progress at the Lake Rebecca Gold Project ("Lake Rebecca" or the "Project"), in Western Australia. Trident holds a 1.5% NSR gold royalty (the "Lake Rebecca Gold Royalty" or the "Royalty") over the entirety of the Project. Following Apollo's release of the April 2021 JORC (2012) compliant Mineral Resource Estimate ("MRE") update3 for 1.105 Moz gold, ongoing drilling has continued to generate significant gold intersections whilst technical evaluation studies progress. Apollo recently delivered an informative presentation2 at the Diggers & Dealers Mining Forum in Perth, Australia. This provides a detailed overview of the project status together with useful deposit plans and sections. LAKE REBECCA PROJECT UPDATE SUMMARY: Metallurgical Study Work: Drill hole MET004, a 63.5mm core diameter diamond hole, designed to provide metallurgical testwork material from the Rebecca deposit's high-grade Jennifer structure has delivered an intercept which validates the Mineral Resource 3 block model: MET004: 75.8m @ 4.64g/t Au from 138m, including 9m @ 15.2g/t Au from 175m and 1m @24.1g/t Au from 208m. Remaining five metallurgical drill holes MET001 (Duke deposit), MET002 & MET003 (Duchess deposit) and MET005 & MET006 (Rebecca deposit) are being processed with assay results expected in the coming weeks. Infill & Exploration Drilling: Ongoing exploration and resource definition drilling continues to provide data and new mineralised zones in support of a further Rebecca MRE update. Shallow infill drilling is upgrading areas within the southern part of the Rebecca optimised pit shell, where gold mineralisation has previously been identified but where drilling was not at a sufficient density to allow a Mineral Resource classification. Step-down drilling in the same area is focussing on delineating deeper gold mineralisation. New drill intercepts include: Inclined infill reverse circulation ("RC") hole RCLR0832: 18m @ 6.93g/t Au from 131m, including 4m@ 15.1g/t Au from 135m. Interpreted to represent a 10m true width intersection of a circa 100m long structure that has not yet been included in the Rebecca MRE; Step-down drill hole RCLR0835: 9m @ 4.22g/t Au, including 1m @ 24.2g/t Au, both from 246m. This hole also intersected additional mineralised structures and ended in mineralisation (20m @ 0.84g/t Au from 280m to end of hole). New exploration interceptsfrom elsewhere inside the Rebecca optimised pit include: New hanging-wall structures: exploration RC pre-collars of planned diamond drill holes, have returned new mineralised hanging-wall structures which were not included in the April 2021 MRE, including: RCLR08333: 5m @ 4.12g/t Au from 152m; and RCLR0830: 2m @ 5.32g/t Au from 120m; On the eastern side of the Rebecca deposit, both internal and external to the current pit shell, further footwall mineralisation has been intersected in hole RCLR0831: 10m @ 1.74g/t Au from 140m (inside pit shell) and 10m @ 2.87g/t Au from 170m and 4m @ 1.36g/t Au (both outside the current pit shell); Hydrological test work bore hole RMB04 has intersected unexpected footwall mineralisation (5m @ 4.41g/t Au from 73m) to the east of the Rebecca pit shell opening up a new exploration target. Technical Studies: The current status of technical studies to feed into engineering and mine planning options, is summarised in Apollo's recent Diggers & Dealers presentation2: Geotechnical: reporting to prefeasibility study level ("PFS") incorporates data from four dedicated diamond holes. Environmental studies: field flora and fauna work in progress. Metallurgy: six HQ diameter diamond holes completed; Preliminary metallurgical results point to >90% gold recovery for Rebecca mineralization; Engineering: conducting options analysis for practical pit design and scheduling; Tailings Storage Facility and site design: preliminary layouts established; In-pit Resource definition drilling: ongoing; Licensing and permitting: ongoing; Hydrological study: six dedicated RC water monitor bores cased and flow-tested; Apollo reports it is in a good financial position to continue the ongoing exploration and technical studies with A$36.7M in consolidated cash as of 30 June 2021.