TORONTO - Trigon Metals Inc. (TSX-V: TM, OTCQB: PNZTF) ('Trigon' or the 'Company') is pleased to announce the results of the feasibility study undertaken on its Kombat Asis West underground mine in Namibia (the 'Feasibility Study').
The Feasibility Study was prepared by SRK Consulting South Africa (Pty) Ltd ('SRK') in accordance with Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101').
The Feasibility Study incorporates both the currently operational open pit mine at Kombat as well as the restart of the historic Asis West underground mine.
Jed Richardson, Chairman, commented 'I am pleased with the efforts of our team and the collaboration with SRK on the completion of the study. The projected returns validate our efforts and expectations for the Kombat Mine. We look forward to even stronger valuations as we develop through the conversion of more of our Indicated Mineral Resources to Reserves, the development of Asis Far West and exploration of the Copper King Extension.'
Kombat Mine Overview
Trigon holds six active mineral licences related to the Kombat mine: the four mining licenses of Asis West, Asis Far West, Asis Ost and Gross Otavi and two exclusive prospecting licenses. The project areas are situated in the Otjozondjupa Region, Grootfontein Magisterial District of the Otjozondjupa Region, Namibia, between the towns of Otavi, 37 km to the west and Grootfontein, 45 km to the east.
Trigon commenced with open pit mining in early 2023, and dewatering of the historic Asis West underground complex (which comprises two vertical shafts, No. 1 shaft and No. 3 shaft, and a decline ramp) in August 2023. In February 2024, Trigon announced the commencement of operational training for the commencement of underground mining.
Mineral Resources
The Mineral Resource Statement presented represents the third Mineral Resource evaluation prepared for the Kombat Mine project in accordance with NI 43-101 by Minxcon (Pty) Ltd (an independent consulting company) commissioned by Trigon to undertake this work. The Mineral Resources have been independently reviewed by SRK and reported using updated techno-economic factors.
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. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.
The complete NI 43-101 technical report associated with the Feasibility Study and updated mineral resources and reserves estimates (the 'Technical Report') will be available on SEDAR+ at www.sedarplus.ca under the Company's issuer profile, as well as the Company's website at www.trigonmetals.com within 45 calendar days.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the mineralization of the Kombat Mine, the timing and results of economic studies including the Feasibility Study, the economic viability of the Kombat Mine, mineral resources and mineral reserves estimates, ability to realize on projected economic estimates, timing of receipts of permits and approvals, future exploration and development plans and results 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.
Non-IFRS measures
The Company has included certain non-IFRS measures in this press release. The Company believes that these measures provide investors an improved ability to evaluate the underlying performance of the Company's projects. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.
Contact:
Jed Richardson
Tel: +1 647 276 6002
Email: jed.richardson@trigonmetals.com
Web: www.trigonmetals.com
TRIGON METALS INC. 
