Trilogy Metals Files NI 43-101 Technical Report for the Arctic Pre-Feasibility Study
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News Release
Trilogy Metals Files NI 43-101 Technical Report for the
Arctic Pre-Feasibility Study
April 6, 2018 - Vancouver, British Columbia – Trilogy Metals Inc. (TSX/NYSE
American: TMQ) ("Trilogy Metals” or "the Company”) has filed a National Instrument 43-
101 technical report titled “Arctic Project, Northwest Alaska, USA, NI 43-101 Technical
Report on Pre-Feasibility Study” with an effective date of February 20, 2018 and a release
d a t e o f A p r i l 6 , 2 0 1 8 . T h e P r e - F e a s i b i l ity Study (“PFS”) was prepared by Ausenco
Engineering Canada Inc. (“Ausenco”) of Vanc ouver, Canada and describes the potential
technical and economic viabilit y of establishing a conventional open-pit copper-zinc-lead-
silver-gold mine-and-mill complex for a 10,000 tonne-per-day operation. The Company also
engaged Amec Foster Wheeler (“Amec”) to complete mine planning and SRK Consulting
(Canada) Inc. (“SRK”) to complete taili ngs and waste design, hydrology and water
management studies. There are no material changes to the PFS results which were
originally announced on February 20, 2018.
Qualified Person
Andrew W. West, Certified Professional Geolog ist, Exploration Manager for Trilogy Metals
Inc., is a Qualified Person as defined by National Instrument 43-101. Mr. West has reviewed
and verified the technical information in th is news release and a pproves the disclosure
contained herein.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration company focused on exploring and developing
the Ambler mining district located in northwestern Alaska. It is one of the richest and most-
prospective known copper-dominant districts lo cated in one of the safest geopolitical
jurisdictions in the world. It hosts world- class polymetallic VMS deposits that contain
copper, zinc, lead, gold and silver, and carb onate replacement deposits which have been
found to host high grade copper mineralizati on. Exploration efforts have been focused on
two deposits in the Ambler mining distri ct - the Arctic VMS deposit and the Bornite
carbonate replacement deposit. Both deposi ts are located within the Company's land
package that spans approximately 143,000 hectares. The Company has an agreement with
NANA Regional Corporation, Inc., a Regional Alaska Native Corporation that provides a
framework for the exploration and potential deve lopment of the Ambler mining district in
cooperation with local communities. Our vision is to develop the Ambler mining district into
a premier North American copper producer.
Company Contacts
Rick Van Nieuwenhuyse Elaine Sanders
President & Chief Executive Officer Vice President & Chief Financial Officer
604-638-8088 or 1-855-638-8088
# # #
TSX, NYSE American
Symbol: TMQ
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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information” and "forward-looking statements”
(collectively "forward-looking statements”) within the meaning of applic able Canadian and United States
securities legislation including the United States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included herein, including, without limitation, the future
price of copper, the estimation of mineral reserves and mineral resources, the realization of mineral reserve
and mineral resource estimates, the timing and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the developm ent of projects, the likeli hood and timing of the
AMDIAP, the potential future development of Bornite, the future operating or financial performance of the
Company, planned expenditures and the anticipated activity at the UK MP Projects, are forward-looking
statements. Forward-looking statements are frequent ly, but not always, identified by words such as
"expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions,
or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved.
These forward-looking statements may include statements regarding perceived merit of properties;
exploration plans and budgets; mi neral reserves and resource esti mates; work programs; capital
expenditures; timelines; strategic plans; market prices for precious and base metals; or other statements
that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations include the uncertainties involving success of
exploration, development and mining activities, permitting timelines, re quirements for additional capital,
government regulation of mining operations, environmental risks, unanticipated reclamation expenses;
mineral reserve and resource estimates and the assumptions upon which they are based; assumptions and
discount rates being appropriately applied to the PFS; our assumptions with respect to the likelihood and
timing of the AMDIAP; capital estimates; prices for energy inputs, labour, materials, supplies and services
the interpretation of drill results, the need for additional financing to explore and develop properties and
availability of financing in the debt and capital markets; uncertainties involved in the interpretation of
drilling results and geological tests and the estimation of reserves and resources; the need for cooperation
of government agencies and native groups in the deve lopment and operation of properties as well as the
construction of the access road; the need to obtain permits and governmental approvals; risks of
construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance
with environmental and permit requirements, unanticipated variation in geological structures, metal grades
or recovery rates; unexpected cost increases, which could include significant increases in estimated capital
and operating costs; fluc tuations in metal prices and currency exchange rates; and other risks and
uncertainties disclosed in the Company’s Annual Report on Form 10-K for the year ended November 30,
2017 filed with Canadian securities regulatory auth orities and with the United States Securities and
Exchange Commission and in other Company report s and documents filed with applicable securities
regulatory authorities from time to time. The Compan y's forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made. The Company assumes no obligation to
update the forward-looking statements or beliefs, opin ions, projections, or othe r factors, should they
change, except as required by law.
Cautionary Note to United States Investors
This press release has been prepared in accordance with the requirements of the securities laws in effect
in Canada, which differ from the requ irements of U.S. securities laws . Unless otherwise indicated, all
resource and reserve estimates included in this press release have been prepared in accordance with
Canadian National Instrument 43-101 Standards of Disclosure for Mine ral Projects (“NI 43-101”) and the
Canadian Institute of Mining, Me tallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral
Resources and Mineral Reserves, adopted by the CIM Council, as am ended (“CIM Definition Standards”).
NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all
public disclosure an issuer makes of scientific an d technical information concerning mineral projects.
Canadian standards, including NI 43- 101, differ significantly from the requirements of the United States
Securities and Exchange Commission (SEC), and resource and reserve information contained herein may
not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting
the generality of the foregoing, the term "resource” does not equate to the term "reserves”. Under U.S.
standards, mineralization may not be classified as a "reserve” unless the determination has been made that
the mineralization could be economically and legall y produced or extracted at the time the reserve
determination is made. The SEC's disclosure standards normally do not permit the inclusion of information
concerning "measured mineral resources”, "indicated mineral resources” or "inferred mineral resources” or
other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves” by
U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that all or any part
of “measured” or “indicated resources” will ever be converted into “reserves”. Investors should also
understand that "inferred mineral resources” have a great amount of uncertainty as to their existence and
great uncertainty as to their economic and legal fe asibility. Under Canadian rules, estimated "inferred
mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases.
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Disclosure of "contained ounces” in a resource is permitted disclosure under Canadian regulations; however,
the SEC normally only permits issuers to report mineralization that does not constitute "reserves” by SEC
standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-
101 for identification of "reserves” are also not the same as those of the SEC, and reserves reported by
Trilogy Metals in compliance with NI 43-101 may not qualify as "reserves” under SEC standards. Arctic does
not have known reserves, as defined under SEC Indust ry Guide 7. Accordingly, information concerning
mineral deposits set forth herein may not be comparable with information made public by companies that
report in accordance with U.S. standards.