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Trilogy Metals Files Final Base Shelf Prospectus in Canada and Registration Statement in the United States

Financings

1

Trust | Respect | Integrity

News Release

Trilogy Metals Files Final Base Shelf Prospectus in Canada and

Registration Statement in the United States

October 31, 2019 - Vancouver, British Columbia – Trilogy Metals Inc. (TSX, NYSE

American: TMQ) ("Trilogy Metals” or "the Company”) has replaced its existing base shelf

prospectus which expires in December. The Company has filed a final short form base shelf

prospectus with the securities commissions in each of the provinces of Canada, other than

Québec, and a corresponding registration statement on Form S -3 with the United States

Securities and Exchange Commission (“SEC”) allowing for the future issuance, from time to

time, of up to US$ 100,000,000 in common shares , warrants to p urchase common shares ,

share purchase contracts of the Company , subscription receipts, units or a combination of

those securities . Any amounts, prices and terms will be determined based on market

conditions at the time of an offering and will be set out in an acc ompanying prospectus

supplement. The Canadian final base shelf prospectus will be valid for a 25 -month period.

Once declared effective, the registration statement will be valid for three years.

Although the Company has no immediate plans to do a financing, t he intention of the base

shelf prospectus and shelf registration statement is to allow the Co mpany to more quickly

access capital when the capital is needed and as market opportunities permit.

The registration statement relating to these securities ha s been filed with the Securities and

Exchange Commission, but ha s not yet become effective. These securities may not be sold

nor may offers to buy be acc epted prior to the time the registration statement becomes

effective. This press release shall not constitute an offer to sell or a solicitation of an offer to

buy, nor shall there be any sale of these securities in any jurisdiction in which an offer,

solicitation or sale would be unlawful prior to registration and qualification under the securities

law of such jurisdiction.

Any offering of the securities covered by the base shelf prospectus and shelf registration

statement will be made solely by means of a prospectus and an accompanying prospectus

supplement relating to that offering . Copies of the base shelf prospectus and shelf

registration statement are available, and copies of any prospectus supplement relating to a

particular offering will be available, under the Company’s profile on SEDAR at www.sedar.com

and EDGAR at www.sec.gov, respectively. Copies may also be obtained , when available, by

contacting the Corporate Secretary of the Company at Suite 1150, 609 Granville Street ,

Vancouver, British Columbia V7Y 1G5, Telephone +1 604 638 8088.

Company Contacts

Elaine Sanders Patrick Donnelly

Vice President & Chief Financial Officer Vice President Corporate Communications

& Development

[email protected]

604-638-8088 or 1-855-638-8088

TSX, NYSE-MKT

Symbol: TMQ