Triple Flag Congratulates Evolution Mining on its Proposed Acquisition of a Majority Interest in Northparkes Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) is
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NEWS RELEASE
Toronto, December 5, 2023
Triple Flag Congratulates Evolution Mining on its Proposed
Acquisition of a Majority Interest in Northparkes
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) is
pleased to congratulate Evolution Mining Limited (“Evolution”) on its proposed acquisition of an 80% interest in
the Northparkes open pit and underground copper -gold mine in New South Wales, Australia from China
Molybdenum Co., Ltd (“CMOC”). Unless otherwise noted, all dollar amounts in this news release are expressed in
US dollars.
“Evolution is a leading Australia- based copper and gold producer with significant experience in large -scale,
underground caving operations at Ernest Henry, a sustainability approach fully integrated into its company
strategy, and a robust balance sheet. Triple Flag has a strong relationship with the Evolution management team
and we look forward to our new long-term partnership at Northparke s. This world -class operation is well-
positioned to deliver value for all s takeholders for decades to come,” commented Shaun Usmar, Triple Flag CEO.
“Northparkes’ long track record of reserve replacement, multi-decade mine life potential, and strong sustainability
performance is due to the stewardship of CMOC. We are proud of our partnership with CMO C and the potential
for future strategic financing opportunities, with a proven operator that has a global footprint across the mining
value chain.”
Triple Flag has a 54% stream on payable gold and an 80% stream on payable silver on Northparkes for a 10%
ongoing payment of the spot gold and silver price for each ounce delivered. Once 630,000 ounces of gold and 9
million ounces of silver have been delivered under the stream, the gold and silver stream rates will reduce to 27%
and 40%, respectively, for the remainder of the mine life. Production from the higher gold grade E31 and E31N
open pits in the near term and the E22 cave in the medium term is on track to drive GEOs sales growth in Triple
Flag’s five-year outlook period from 2024 to 2028. Triple Flag’s gold and silver stream covers the entirety of the
1,100 km2 land package at Northparkes, which has only limited drilling below 100 metres on the 26 km2 mining
license footprint, presenting significant potential future upside beyond the current mine life of at least 30 years.
Northparkes is located in New South Wales, Australia, 27 km northwest of the town of Parkes. Discovered in 1976,
the copper-gold mine has been operating since 1993 with a robust, low cost profile driven by highly mechanized,
bulk tonnage caving methods used to mine the underground. Northparkes has a long track record of reserve
replacement, notwithstanding the production of more than a million ounces of gold since 2001, and had 0.9
million ounces of proven and probable gold reserves as of December 31, 2022. Northparkes was operated by Rio
Tinto from 2000 to 2013 following Rio Tinto’s acquisition of North Limited. CMOC acquired Rio Tinto’s stake in
Northparkes in December 2013, with the remaining 20% stake held by Sumitomo . Complementing CMOC’s
NEWS RELEASE
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sustainability initiatives, Triple Flag provides A$50,000 annually towards scholarships and community projects at
the operation.
About Triple Flag
T
riple Flag is a pure play, precious-metals-fo
cused streaming and royalty company. We offer bespoke financing
solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and
Australia, with a total of 234 assets, including 15 streams and 219 royalties. These investments are tied to
mining assets at various stages of the mine life cycle, including 32 producing mines and 202 development and
exploration stage projects, and other assets. Triple Flag is listed on the Toronto Stock Exchange and New York
Stock Exchange, under the ticker “TFPM”.
Contact Information
Investor Relations:
David Lee
Vice President, Investor Relations
Tel: +1 (416) 304-9770
Email: [email protected]
Media:
Gordon Poole, Camarco
Tel: +44 (0) 7730 567 938
Email: [email protected]
Qualified Person
James Dendle, Senior Vice President, Corporate Development for Triple Flag and a “qualified person” under NI 43-
101 has reviewed and approved the written scientific and technical disclosures contained in this press release.
Cautionary Note Regarding Forward-Looking Information and Statements:
This news release contains “forward -looking information” within the meaning of applicable Canadian securities
laws and “forward- looking statements” within the meaning of the United States Private Securities Litigation
Reform Act of 1995, respectively (collectively referred to herein as “forward -looking information”). Forward -
looking information may be identified by the use of forward -looking terminology such as “plans”, “targe ts”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”,
“strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or terminology which
states that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or
“be achieved”. Forward-looking information in this news release includes, but is not limited to, statements with
respect to closing of Evolution Mining Limited’s proposed acquisition of an 80% interest in the Northparkes mine
and the associated impacts to Triple Flag’s operations as a result of enhanced operations at Northparkes. Our
assessments of, and expectations for, future periods (including, but not limited to, repurchases of our common
shares), are considered forward -looking information. In addition, any statements that refer to expectations,
intentions, projections or other characterizations of future events or circumstances contain forward- looking
information. Statements containing forward -looking information are not historical facts but instead represent
management’s expectations, estimates and projections regarding possible future events or circumstances.
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The forward -looking information included in this news release is based on our opinions, estimates and
assumptions considering our experience and perception of historical trends, current conditions and expected
future developments, as well as other factors that we currently believe are appropriate and reasonable in the
circumstances. The forward-looking information contained in this news release is also based upon a number of
assumptions, including the ongoing operation of the properties in which we hold a s tream or royalty interest by
the owners or operators of such properties in a manner consistent with past practice; the accuracy of public
statements and disclosures made by the owners or operators of such underlying properties; and the accuracy of
publicly disclosed expectations for the development of underlying properties that are not yet in production. These
assumptions include, but are not limited to, the following: assumptions in respect of current and future market
conditions and the execution of our b usiness strategies, that operations, or ramp -up where applicable, at
properties in which we hold a royalty, stream or other interest, continue without further interruption through the
period, and the absence of any other factors that could cause actions, e vents or results to differ from those
anticipated, estimated, intended or implied. Despite a careful process to prepare and review the forward-looking
information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be
correct. Forward-looking information is also subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance, or achievements to be materially different from
those expressed or im plied by such forward -looking information. Such risks, uncertainties and other factors
include, but are not limited to, those set forth under the caption “Risk Factors” in our most recently filed annual
information form which is available on SEDAR+ at www. sedarplus.ca and on EDGAR at www.sec.gov. For clarity,
mineral resources that are not mineral reserves do not have demonstrated economic viability and inferred
resources are considered too geologically speculative for the application of economic considerations.
Although we have attempted to identify important risk factors that could cause actual results or future events to
differ materially from those contained in forward -looking information, there may be other risk factors not
presently known to us or that we presently believe are not material that could also cause actual results or future
events to differ materially from those expressed in such forward-looking information. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such information. Accordingly, readers should not place undue reliance on forward -looking
information, which speaks only as of the date made. The forward -looking information contained in this news
release represents our expectations as of the date of this news release and is subject to change after such date.
We disclaim any intention or obligation or undertaking to update or revise any forward -looking information
whether as a result of new information, future events or otherwise, except as required by applicable securities
laws. All the forward -looking information contained in this news release is expressly qualified by the foregoing
cautionary statements.