Trillium Gold Signs Option Agreement for Additional Claims Adjacent to its Uchi Gold Property in Red Lake
NEWS RELEASE
Trillium Gold Signs Option Agreement for Additional
Claims Adjacent to its Uchi Gold Property in Red Lake
Vancouver, BC, Canada – January 27, 202 3 – Trillium Gold Mines Inc. (TSXV:TGM ,
OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has
signed an option agreement (the “Agreement”) to acquire a 100% undivided interest in a total 2,541
hectares immediately adjacent to, and encompassed by, Trillium’s Uchi Gold assemblage in Red
Lake, Ontario . These claims effectively extend Trillium Gold’s dominant foothold along the
Confederation belt on the same geological trends as Evolution Mining’s Red Lake Operations and
Kinross Gold’s LP Fault Zone of the ‘Dixie’ discovery.
Pursuant to the terms of the Agreement, in order to keep the option in good standing, Trillium is
required to make a cash payment to the vendors of Cdn $80,800 and issue an aggregate of 200,000
common shares in the capital of the Company (“Common Shares”), as follows:
Cash (Cdn$) Common Shares
Closing Date $16,800 200,000
First Anniversary of
Closing Date
$16,000 Nil
Second Anniversary
of Closing Date
$20,000 Nil
Third Anniversary of
Closing Date
$28,000 Nil
Total: $80,800 200,000
The Common Shares of Trillium Gold issued under the Agreement will be subject to a four -month
holding period from the closing date. The Agreement is subject to the approval of the TSXV and
other applicable regulatory authorities.
In addition, Trillium Gold shall enter into a royalty agreement (the “Uchi Royalty Agreement”)
whereby the Company will grant the vendors a maximum royalty not exceeding an aggregate of
1.5% Net Smelter Returns (NSR) royalty on each claim comprising the Uchi Property, (each a “Uchi
Royalty”). Each Uchi Royalty will be subject to a one -time option to repurchase from the vendors
0.5% of the Uchi Royalty (resulting in a 1.0% remaining Uchi Royalty) by paying to the vendors an
aggregate amount equal to Cdn $500,000.
Figure 1: Map showing Uchi Gold Additional claims
The technical information presented in this news release has been reviewed and approved by
William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines, as defined by NI 43-101.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
President & CEO, Director
For further information, please contact Donna Yoshimatsu, VP Corporate Development and
Investor Relations at [email protected], (416) 722-2456, or [email protected].
Visit our website at www.trilliumgold.com.
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition,
exploration and de velopment of mineral properties located in the Red Lake Mining District of
Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled
one of the largest prospective land packages in and around the Red Lake mining district in proximity
to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone
belts. In 2022 the Company closed a number of acquisitions effectively extending its contiguous
land position over more than 100 km of favourable structures on trend with Kinross Gold’s Great
Bear Project and Evolution Mining’s Red Lake Operation. In addition, the Company has interests
in highly prospective properties in Larder Lake, Ontario.
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.
Cautionary note regarding forward-looking statements
This news release contains forward-looking information, which involves known and unknown risks,
uncertainties and other factors that may cause actual events to differ materially from current
expectations.
Forward-looking information is based on managemen t’s reasonable assumptions, estimates,
expectations, analyses and opinions, which are based on management’s experience and
perception of trends, current conditions and expected developments, and other factors that
management believes are relevant and reaso nable in the circumstances, but which may prove to
be incorrect. Such factors, among others, include: impacts arising from the global disruption
caused by the Covid -19 coronavirus outbreak, business integration risks; fluctuations in general
macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward
prices of gold or certain other commodities; change in national and local government, legislation,
taxation, controls, regulations and political or economic developments; ris ks and hazards
associated with the business of mineral exploration, development and mining ( Incl. environmental
hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards;
the presence of laws and regulations that may impose restrictions on mining; employee relations;
relationships with and claims by local communities and indigenous populations; availability of
increasing costs associated with mining inputs and labour; the speculative nature of mineral
exploration and development (Incl. the risks of obtaining necessary licenses, permits and approvals
from government authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward -looking statements, which
speak only as of the date of this press release. The Company disclaims any intention or obligation,
except to the extent required by law, to update or revise any forward -looking statements, whether
as a result of new information, future events or otherwise.