Trigon Metals Announces Horizon to Advance US$2 Million Payment and Provides Exploration Update
FOR IMMEDIATE RELEASE
TRIGON METALS ANNOUNCES HORIZON TO ADVANCE US$2 MILLION PAYMENT
AND PROVIDES EXPLORATION UPDATE
Toronto, Canada – July 31, 2025 – Trigon Metals Inc. (TSX -V: TM; OTC PK: 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 Ju ly 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 re garding 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 t wo
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.
For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
Website: www.trigonmetals.com