Trigon Extends Agreement to Acquire High Potential ‘Silver Hill’ Copper and Silver Project for Three Months
Trigon Extends Agreement to Acquire High Potential ‘Silver Hill’ Copper and
Silver Project for Three Months
TORONTO, March 03, 2020 -- Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has
signed an amendment to its previously announced (see Trigon’s news release dated November 19, 2019) Memorandum of
Understanding (“Amendment” or the “Extension”) to acquire a 100% interest in the Silver Hill Project (“Silver Hill” or the
“Project”) in Morocco (the “Proposed Transaction”.)
‘Silver Hill’ refers to a 16km2 exploration project in the Anti-Atlas region of Morocco. Early basic surface exploration shows
copper and silver mineralization at high grades distributed over a wide surface area.
The Amendment extends, by an additional three months, the period within which Trigon must negotiate and enter into a
definitive agreement, having a new expiration date of May 19, 2020.
To date, the Company has completed a number of key requirements, including, but not limited to a management site visit in
January 2020 and the completion of Trigon’s due diligence review of the Project. The team is presently preparing a National
Instrument 43-101 compliant technical report on the Silver Hill property.
Jed Richardson, president and CEO of Trigon, commented: “Silver Hill is generating much excitement at Trigon. We are eager
to begin our exploration work at the project. Ancient workings indicate a large mineralized area, and analysis of the slags
suggest that historic mining here may have been focused on silver rather than copper. We look forward to continued business
in mine-friendly Morocco as we close the Proposed Transaction and grow Trigon’s portfolio to the benefit of our valued
shareholders.”
The Proposed Transaction is subject to further due diligence by Trigon, the parties negotiating and entering into a definitive
agreement and obtaining of the necessary regulatory approvals, including approval of the TSX Venture Exchange.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper
operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The
Company continues to hold an 80% interest in five mining licenses in the Otavi Mountain lands, an area of Namibia widely
recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s
flagship property, the Kombat Mine.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding investment in and
financing for the Company and the Kombat operations, the Amendment,, the Company’s ability to obtain adequate financing,
the Company’s ability to closed the Proposed Transaction, the prospectivity of the Project, the Company’s ability to explore
the Project and produce a NI 43-101 mineral resource estimate, the Company’s strategies and the Company’s abilities to
execute such strategies, the Company’s ability to restart the Kombat operations, the Company’s expectations for the Kombat
operations, 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.
For further information, contact:
Jed Richardson
+1 416 861 5893
Website: www.trigonmetals.com