Trident Announces Full Exercise of Over-Allotment Option and Expected Proceeds of $18.6 Million to Fully Fund Expanded 2026 Drilling at Saskatchewan Gold Projects
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X1M5
TSX-V: ROCK; OTCQB: TRDTF
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
February 2nd, 2026
NEWS RELEASE
Trident Announces Full Exercise of Over-Allotment Option and Expected Proceeds of
$18.6 Million to Fully Fund Expanded 2026 Drilling at Saskatchewan Gold Projects
Vancouver, BC, February 2nd, 2026 – Trident Resources Corp. (TSX -V: ROCK) (OTCQB:
TRDTF) (“Trident” or the “ Company”) is pleased to announce that, in connection with its
previously announced bought deal financing (the “Bought Deal Offering”), the underwriters led
by Haywood Securities Inc., and including Research Capital Corporation (collectively, the
“Underwriters”), have exercised the over -allotment option to purchase an additional 600,000
common shares of the Company that will qualify as “flow -through shares” within the meaning of
subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) (each, a “FT Share”) at a price
of $3.76 per FT Share, increasing the aggregate gross proceeds to the Company under the
Bought Deal Offering to $17,296,000.
Due to strong investor demand, the Company has additionally announced a concurrent non -
brokered private placement through the issuance of 348,000 FT Shares at a price of $3.76 per
FT Share for additional gross proceeds to the Company of $1,308,480 to accom modate certain
strategic investors (the “NBPP”, and together with the Bought Deal Offering, the “Offerings”). The
FT Shares issued under the Offerings will be issued on a prospectus -exempt basis pursuant to
the ‘listed issuer financing exemption’ (“LIFE”) under applicable Canadian securities laws.
The gross proceeds from the sale of FT Shares will be used for further exploration, mineral
resource expansion and drilling at Trident’s gold projects located in the La Ronge Gold Belt of
Saskatchewan, as Canadian Exploration Expenses as defined in paragraph (f) of the definition of
“Canadian exploration expense” in subsection 66.1(6) of the Income Tax Act (Canada) and “flow
through mining expenditures” as defined in subsection 127(9) of the Income Tax Act (Canada)
that will qualify as “flow-through mining expenditures”, which will be renounced with an effective
date no later than December 31st, 2026 to the initial purchasers of FT Shares.
Jon Wiesblatt, CEO of Trident commented: “ Proceeds from this financing will be used to
accelerate exploration at the Company’s flagship Contact Lake Gold Project, which was strongly
supported by a group of high- quality, long- term institutional and strategic investors. Trident’s
recent results at Contact Lake mark a major step forward, with the fall drill program delivering a
100% success rate at the former Cameco-operated, high-grade underground mine. These results
confirm the presence of robust gold mineralization and validate the significant upside potential of
the project. With almost $30 million in hard and flow-through capital, Trident is exceptionally well
positioned to meaningfully expand its exploration initiatives and create long- term value for
shareholders.”
The Bought Deal Offering is expected to close on or about February 18th, 2026, or such other
date as may be agreed to by the Company and the Underwriters (the “ Closing”). Closing is
subject to customary conditions, including, but not limited to, the negotiation of an underwriting
agreement among the parties with respect to the Bought Deal Offering, the Company receiving
all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The
NBPP is expected to close concurrently with the Bought Deal Offering and no finder fees will be
paid in connection with the NBPP.
The Offerings will be made in accordance with the ‘listed issuer financing exemption’ in Part 5A
of National Instrument 45- 106 – Prospectus Exemptions, as amended by Coordinated Blanket
Order 45- 935 – Exemptions from Certain Conditions of the Listed Issuer Financing
Exemption (“Listed Issuer Financing Exemption”), to purchasers in any province of Canada,
except Québec. The FT Shares issued and sold under the Offerings will not be subject to a ‘hold
period’ pursuant to applicable Canadian securities laws. There is an amended offering document
related to the Offerings that can be accessed under the Company’s issuer profile
at www.sedarplus.ca and on the Company’s website at tridentresourcescorp.com. Prospective
investors should read this offering document before making an investment decision.
In connection with the Bought Deal Offering, the Underwriters will receive an aggregate cash fee
equal to 6.0% of the gross proceeds of the Bought Deal Offering.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the
United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the United States Securities Act of 1933,
as amended, and such securities may not be offered or sold within the United States or to, or for
the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S.
registration requirements and applicable U.S. state securities laws.
Qualified Person:
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed and
approved by Cornell McDowell, P.Geo., VP Exploration for Trident Resources and the Qualified
Person for Trident as defined by NI 43-101.
About Trident Resources Corp.:
Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX
Venture Exchange focused on the acquisition , exploration and development of advanced-stage
gold and copper exploration projects in Saskatchewan, Canada. The Company is advancing its
100% owned Contact Lake and Greywacke Lake projects which host significant historical gold
resources located within the prospective and underexplored La Ronge Gold Belt , as well as the
100% owned Knife Lake copper project which contains a historical copper resource.
To find out more about Trident Resources Corp. (TSX-V: ROCK), visit the Company’s website
at www.tridentresourcescorp.com
Trident Resources Corp.
Jonathan Wiesblatt, Chief Executive Officer
Email: [email protected]
For further information contact myself or:
Andrew J. Ramcharan, PhD, P.Eng., SVP Corporate Communications
Trident Resources Corp.
Telephone: 647-309-5130
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
Forward-Looking Information and Statements
This news release contains statements that constitute “forward- looking statements.” Such forward looking
statements involve known and unknown risks, uncertainties and other factors that may cause the
Company’s actual results, performance or achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or implied by such forward- looking
statements. Forward looking statements are statements that are not historical facts and are generally, but
not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,”
“projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or
“should” occur. These forward‐ looking statements or information relate to, among other things: receipt of
all approvals related to the Bought Deal Offering and NBPP; the intended use of proceeds from the Bought
Deal Offering and NBPP; and the expected terms and Closing of the Bought Deal Offering and NBPP.
By their nature, forward- looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among others: the conditions to closing of the
Bought Deal Offering and NBPP may not be satisfied, management’s broad discretion regarding the use of
proceeds of the Bought Deal Offering and NBPP, the Company may require additional financing from time
to time in order to continue its operations which may not be available when needed or on acceptable terms
and conditions acceptable; compliance with extensive government regulation; general economic, market or
business conditions; adverse weather and climate conditions; equipment failures, failure to obtain or
maintain all necessary government permits, approvals and authorizations; decrease in the price of gold,
copper and other metals, the impact of viruses and diseases on the Company’s ability to operate; failure to
obtain or maintain community acceptance (including First Nations); increase in costs, litigation; failure of
counterparties to perform their contractual obligations; domestic and foreign laws and regulations could
adversely affect the Company’s business and results of operations; and the stock markets have
experienced volatility that often has been unrelated to the performance of companies and these fluctuations
may adversely affect the price of the Company’s securities, regardless of its operating performance.
The forward-looking information contained in this news release represents the expectations of the Company
as of the date of this news release and, accordingly, is subject to change after such date. Readers should
not place undue importance on forward-looking information and should not rely upon this information as of
any other date. The Company undertakes no obligation to update these forward- looking statements in the
event that management’s beliefs, estimates or opinions, or other factors, should change.