Trigon Metals Announces Private Placement Financing and Appointment of Mark Eaton as Chairman

TRIGON METALS ANNOUNCES PRIVATE PLACEMENT FINANCING AND APPOINTMENT OF MARK

EATON AS CHAIRMAN

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Toronto, Canada – July 19, 2017 – Trigon Metals Inc. (TSX -V: TM) (“Trigon” or the “Company”)

intends to complete a non -brokered private placement financing of up to 3,333,333 units (the

“Units”) at a price of $0.30 per Unit for gross proceeds of up to $1,000,000 (the “Offering”). Each

Unit will be comprised of one common share of Trigon (a “Share”) and one half of one common

share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder

thereof to acquire one Share at a price of $0.40 for a period of 36 months following the closing

date of the Offering.

Closing of the Offering is expected to occur on or about August 2, 2017 and remains subject to a

number of conditions, including receipt of all necessary regulatory approvals, including the

approval of the TSX Venture Exchange.

The Company intends to use the net proceeds from the Offering for exploration and development

of the Kombat Mine, and for working capital and general corporate purposes. Trigon is also

evaluating opportunities to partner with a strategic investor and copper concentrate offtaker, as a

potential funding source for the required operational restart capital.

Corporate Update

The Company announces the resignation of Brett Richards from the board of directors of the

Company and the appointment of Mark Eaton as a director and Chairman of the board, effective

immediately. In addition, Paul Bozoki has resigned as Chief Financial Officer of the Company and

will be replaced by Stephen Woodhead with effect from August 1, 2017. Mr. Eaton w ill

participate in the Offering.

Stephan Theron, President & CEO of Trigon, commented: “We are extremely pleased to welcome

Mr. Eaton to the board and Mr. Woodhead to the management team. Mark brings extensive

experience in the mining sector and capital m arkets to the team at a critical juncture as we are

aiming to restart the Kombat mine in the near future.”

Mr. Eaton is a graduate from Hull University, England and is an experienced investment

professional with over 20 years of experience in equity capi tal markets specializing in the resource

sector. He has held the position of Managing Director of Global Mining Sales, a division of CIBC

World Markets and Manager of US Equity Sales for CIBC World Markets. Mr. Eaton is also a former

Partner and Director of Loewen Ondaatje McCutcheon Ltd., a Toronto-based investment dealer. In

addition to his experience in institutional mine finance and investment banking, Mr. Eaton has

served in management and on the Boards of several public mining companies. Mr. Eaton is the

current Executive Chairman and the former Chief Executive Officer of Belo Sun Mining Corp.

Mr. Woodhead is a graduate of the University of Cape Town and a member of the South African

Institute of Chartered Accountants. Mr. Woodhead has over 25 years of experience having worked

for the South African Department of Finance and Trans Hex Group, a South African diamond

producer, before relocating to Canada in 1997 as Chief Financial Officer of Trans Hex International.

From 2003 until it was acquired by Yama na Gold in 2006, Mr. Woodhead was the Chief Financial

Officer of Desert Sun Mining, developer of the Jacobina gold mine in Brazil, and in 2011 and 2012

was Chief Financial officer of Crocodile Gold Corp. Mr. Woodhead has also acted as Chief Financial

Officer of Admiral Bay Resources (oil and gas), Beartooth Platinum (platinum group metals),

Longford (oil and gas), Aberdeen International (royalty), Sanatana Diamonds (diamonds) and

Homeland Energy (coal); as Vice President, Finance of Glass Earth (gold) and L uiri Gold (gold); and

has served as a director of Apogee Minerals (silver) and Vaaldiam Mining (diamonds).

The board of directors would like to thank Mr. Richards and Mr. Bozoki for their contributions to

Trigon and welcomes Mr. Eaton and Mr. Woodhead to the Company.

Trigon has granted a total of 675,000 stock options to certain officers, directors and consultants of

the Company pursuant to the Company’s stock option plan. The stock options vest immediately

and may be exercised at a price of $0.385 per o ption for a period of five years from the date of

grant. This grant of options is subject to the approval of the TSX Venture Exchange.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core

operations focused on copper resources in Namibia, one of the world’s most prospective copper

regions, where it has substantial assets in place with significant upside. The Company continues to

hold an 80% interest in five mining licenc es in the Otavi Mountain lands, an area of Namibia

particularly known for its high -grade copper deposits. Within these licen ces are three past

producing mines including the Company’s flagship property, the Kombat Mine.

For further information, contact:

Spyros Karellas

Investor Relations +1 (416) 433-5696

Email: [email protected]

Website: www.trigonmetals.com

Cautionary Notes

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.

This news release may contain forward- looking statements. These statements include statements

regarding the Offering, the expected u se of proceeds of the Offering , the impact of changes to the

Company’s board of directors and management team , the grant of stock options , the Company’s

ability to partner with third parties 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. The securities have not been and will not be registered under the

United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities

laws and may not be offered or sold within the United States or to U.S. Persons unless registered

under the U.S. Securities Act and applicable state securities laws or an exemption from such

registration is available.