Trigon Metals Announces Horizon to Advance US$2 Million Payment and Provides Exploration Update

TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM; OTCPK: PNZTF; FRA:TZU2) (“Trigon” or the “Company”) is pleased to announce that it has received the initial portion (US$1M) of the US$2M advance from Horizon Corporation Ltd. (“Horizon”) ahead of August 4^th deadline and has notified the Company of its intention to advance the balance on or before August 4, 2025.

The accelerated payment follows the successful Trigon shareholder vote on July 4, 2025, and demonstrates Horizon’s commitment to closing the transaction in a timely manner. Please see Trigon’s press release dated May 29, 2025 for further details regarding the sale of Trigon’s interest in the Kombat Mine to Horizon.

Strategic Shift to Exploration – Addana Drill Program Planned

With the Company’s transition away from production at the Kombat Mine, Trigon is sharpening its focus on its exploration assets, particularly in Morocco. A drill program is planned at the Addana Project, located in the established mining region of Morocco. The program will target high-priority mineralized zones beneath existing underground workings and is designed to confirm and expand on known copper mineralization.

Initial drilling is budgeted at approximately US$350,000, and preparations are underway to mobilize field crews in the coming weeks. This marks the first phase of an exploration-driven strategy aimed at unlocking value from the Company’s high-potential copper and silver assets.

Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, “We are pleased to see Horizon moving proactively to advance the first payment ahead of schedule. This show of confidence in the transaction provides us with the immediate financial flexibility to begin work at Addana. As we shift our focus toward exploration, we’re excited about the prospects in Morocco and look forward to delivering results that support long-term value creation for our shareholders.”

Qualified Person

The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Company’s “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Trigon Metals Inc.

Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding Horizon and the proposed sale of the Kombat Mine, the schedule of payments, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Addana Project, the prospectivity and mineralization at the Addana Project, the Company’s exploration plan 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.