Trigon Secures Land Leases IN Namibia FOR Open Pit Expansion
TRIGON SECURES LAND LEASES IN NAMIBIA FOR OPEN PIT
EXPANSION
TORONTO, December 9, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is
pleased to announce that it has entered into a lease agreement with local Namibian company,
Kombat Village Properties (Pty) Ltd (“KVP”), for the lease of land in and around the Kombat Mine
area (“the Lease Transaction”). Trigon requires the use of land around the Kombat Mine for the
continued development of its open pit mining operations, including the establishment of the mine’s
tailings facility. Construction of the tailings facility began in September 2021, and work is on
schedule to coincide with start-up of ore processing by the end of 2021.
The total to be paid by Trigon to KVP will be C$1,961,606 for a lease period of the duration of the
mining licences held by Trigon. Payable in three (3) cash tranches as follows:
- On commencement of the lease: C$250,000;
- On January 17, 2022: C$830,803; and
- On July 18, 2022: C$830,803.
KVP will further receive 200,000 stock options to acquire 200,000 shares in Trigon at an exercise
price of $0.46. The options will vest immediately and will be exercisable for a period of three years
from date of issue. The grant of the options is subject to the approval of the TSX Venture
Exchange (“TSXV”).
In connection with the Lease Transaction, Trigon has agreed to transfer a 10% equity interest in
Trigon’s wholly owned subsidiary, Gazania Investments Nine (Proprietary) Limited (“Gazania”),
valued at C$50,000 to Texel Mining and Exploration (Proprietary) Limited (“Texel”). Gazania holds
the Copper King Extension ground surrounding the Kombat Mine, 35km of mineralized strike
length in the Otavi valley. The transfer of the equity interest of Gazania to Texel remains subject
to the approval of the TSXV.
Knowledge Katti of Kombat Village Properties, commented, “The imminent onset of ore
processing during December 2021 represents an important milestone in the revival of
economic activity for Kombat and its inhabitants as well as an important contributor to
reposition Namibia as a prime global mining destination. The current commitment of all
stakeholders at all levels to make the project a success will ensure ongoing momentum
and the ultimate successful implementation of the project.”
Jed Richardson, President and CEO of Trigon, commented, “Following our exploration success
in and around the open pit, controlling the land we need to grow is an important step. We see the
town of Kombat, Kombat Village Properties and Knowledge Katti as important stakeholders in our
efforts and this agreement helps to align our interests going forward. Tangible progress is being
made on a daily basis at site, and plant commissioning remains on track for later this month.”
About Kombat Mine
The Kombat Copper Project is the flagship project of Trigon Metals Inc. , with the Company’s
mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi
Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which
produced approximately 12.46 million tonnes of Copper between 1962 and 2008, at a grade of
2.62%. The other two mining licences are within close proximity to Kombat a t Gross Otavi and
Harasib, which are believed to be highly prospective for Lead and Zinc. In addition, the Company
also holds an interest in two exclusive prospecting licences, which represent a potential strike
extension of Kombat.
About Texel Mining and Exploration
Texel is the holder of a 10% interest in Trigon Mining (Namibia) (Proprietary) Limited (recently
transferred from Havana Investments (Proprietary) Limited. Texel will now hold 10% in the
Gazania Investments Nine, the holder of the Copper King Extension exploration ground. Mr.
Knowledge Katti, is the sole proprietor of Texel, Havana Investments and Kombat Village
Properties.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business
focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company
has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five
mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high -
grade copper deposits, where the Company is focused on exploration and re-development of the
previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill
project, a highly prospective copper and silver exploration project.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the lease of land around the Kombat Mine, the restart of the Kombat Mine, the
Company’s strategies and the Company’s abilities to execute such strategies, the Company’s
expectations for the Kombat Project, 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
+1 647 276 6002
Website: www.trigonmetals.com