Trigon Metals Announces Receipt of First Horizon Payment
FOR IMMEDIATE RELEASE
Trigon Metals Announces Receipt of First Horizon Payment
March 31, 2026
Toronto, Ontario – Trigon Metals Inc. (TSX-V: TM; OTCPK: PNTZF) (“Trigon” or the “Company”)
is pleased to announce that it has received the first scheduled quarterly payment pursuant to the
sale of its interest in the Kombat Mine and associated assets to Kamino Minerals Limited and
Horizon Corporation Limited (the “Transaction”)in advance of the April 4 , 2026 deadline. This
payment marks the initial installment under the structured consideration framework outlined in
prior Company disclosures (see press release dated December 23, 2025).
Under the terms of the Transaction, Trigon is to receive a series of eight quarterly payments over
the agreed schedule, providing the Company with a steady, non -dilutive source of funding. In
addition to these fixed payments, Trigon is expected to receive performance-based royalties and
bonuses upon the successful restart of production at the Kombat Mine, further aligning long -
term value creation with operational milestones.
Horizon Payment Schedule
Milestone/Installment Expected Timing Payment Amount
First Installment April 4, 2026 US$3M (1/8 of total)
Installments 2-8 Every 3 months thereafter US$3M each (Total: 8
installments)
Additional Payments* Dependent on copper price/mill
expansion
US$3.5M – US$13M (Contingent)
Royalty Payments Once production resumes 1% Cu Net Smelter Return royalty
for 20 quarters following restart
*An additional follow-on bonus payment is required to be made by Horizon when underground
production at the New Horizon Mine (formerly the Kombat Mine) achieves ore production and
processing of ore containing 4,500t of contained copper over a 90-day period. The Production
Payment amount will be between US$3,500,000 and US$13,000,000 and will be dependent on
the price of copper.
LME 3-month Cu price (USD/Tonne) at
the close on the LME on the date
preceding the Sprott trigger date
<9000
($4.08/lb)
9,000<10,000
($4.08/lb-$4.54/lb)
>10,000
($4.54/lb)
>15,000
($6.80/lb)
Payment to the Company on the
Copper Stream Step-Down Date
US$3,5 M US$8M US$13M N/A
Payment to the Company on mill
expansion to 1,500 tpd
0 0 0 US$8M
Payment to the Company on 1st
anniversary of mill expansion to 1,500
tpd (expedited scenario)
0 0 0 US$5M
Jed Richardson, President and CEO of Trigon Metals, commented:
"The steady stream of capital from the sale of our interest in the Kombat Mine, provides non-
dilutive financing for our Moroccan exploration. We are looking forward to the first results out of
our district-scale silver-polymetallic Addana Project. We have completed camp set up and access
is cleared to drilling sites at Addana. Geosond is on site with a drill rig, and we are excited to begin
unlocking the potential of our highly prospective land package, as we pivot from Trigon Metals to
Safi Silver."
The Addana Project is situated within a geologically prospective region known for hosting
significant polymetallic mineralization, including silver, copper, and associated metals. The
current drilling campaign is designed to test priority targets identifie d through historical data
compilation and recent fieldwork.
Trigon remains focused on disciplined capital allocation and value creation as it advances its
Moroccan portfolio.
Qualified Person
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.
Dr. Rompel is Trigon’s Chief Exploration Officer and is not considered to be independent of the
Company.
Trigon Metals Inc.
Trigon Metals Inc. is a publicly traded Canadian exploration and development company with a
core focus on copper and silver holdings in mining-friendly African jurisdictions. In Morocco, the
Company is advancing two exploration projects: Addana, which hosts silver-bearing polymetallic
veins, and Silver Hill, a sedimentary copper prospect undergoing ongoing evaluation. In Namibia,
Trigon holds the Kalahari Copperbelt Project.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the timing and receipt of future payments from Horizon, the potential receipt of bonus
payments tied to production at the Kombat Mine, the Company’s exploration plans at the Addana
Project, the anticipated benefits of the Company’s strategic focus on its Moroccan silver projects,
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