Trident Royalties Plc announced that it has entered into an agreement to acquire a gold offtake contract over the Sugar Zone Mine in Canada (Sugar Zone), owned and operated by Silver Lake Resources Limited (Silver Lake) from Orion Resource Partners (Orion or the Seller). With this, Trident now holds a total of 11 cash flowing assets, in addition to its attractive pipeline of advanced stage assets. Sugar Zone is a producing underground gold mine located in Ontario, Canada.

Trident is acquiring the Offtake for a total consideration of US$3.75 million, payable in new ordinary shares of 1p each in the Company issued at 51.43 pence per share, being the 10-day volume weighted average price of Trident's shares to 18 March 2022, the last trading day prior to the date of the agreement. The Offtake covers 50% of all gold production at Sugar Zone up to 375,000 delivered ounces, with approximately 335,000 ounces remaining under the Offtake.