Trilogy Metals Provides Update on Project Activities
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News Release
Trilogy Metals Provides Update on Project Activities
July 3, 2019 - Vancouver, British Columbia – Trilogy Metals Inc. (TSX/NYSE
American: TMQ) (" Trilogy Metals”, “Trilogy” or the “Company”) is pleased to provide an
update on its current project activities. Drilling and technical activities have commenced at
both the Arctic and Bornite Projects which are within the Company’s 100%-owned Upper Kobuk
Mineral Projects located in Northwest Alaska. All amounts are in US dollars.
On June 28, 2019 , we announced that all the Company’s outstanding warrants have been
exercised in advance of the expiry date. As a result of the warrants exercised, Trilogy Metals
issued a total of 6,521,740 common shares of the Company and received cash proceeds of
approximately $9.9 million. Please see the Company’s press release dated June 28, 2019 for
more information.
Bornite Project
Exploration activities commenced at the beginning of June with almost 2,000 meters of drilling
already completed at the Bornite Project with three rigs from Major Drilling America, Inc.
currently in operation at site. The main goal of the $9.2 million program will be t o drill
approximately 8,000 meters within 12 holes and will include both infill and expansion drilling.
The results from this drilling campaign are anticipated to be included into a future updated
resource estimate. The results from the first few holes of this program are expected to be
released in late summer 2019.
Arctic Project
The $7.0 million engineering and environmental program has commenced at Arctic with two
rigs from Tuuq Drilling LLC, a subsidiary of NANA Development Corporation (“Tuuq”). Work at
Arctic commenced in late June and is completing feasibility-level geotechnical and hydrological
work. The main goal of this year’s work program is to complete engineering and environmental
studies to prepare a National Instrument 43-101 compliant Feasibility Study. The Company
expects to complete the feasibility study in the first half of 2020.
Work is also being done to prepare the Arctic project for permitting, which we expect to
commence in 2020. The permitting preparation studies that are being carried will address
water management, tailings facilities design and waste rock management and containment.
TSX, NYSE American
Symbol: TMQ
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District Exploration
District-wide VTEM and ZTEM helicopter airborne geophysical surveys were completed this past
spring along the entire 100 -kilometer long belt of the favorable stratigraphy hosting known
polymetallic volcanogenic-massive sulphide (“VMS”) deposits, as well as the area around the
Bornite deposit and the surrounding Cosmos Hills area. The surveys were flown by Geotech
Ltd. and the data is currently being re-processed by Resource Potential PTY Ltd. both of which
are independent geophysical consulting firms. As can be seen on Figure 1 there are a
multitude of high quality VTEM and ZTEM anomalies to follow up on. The new VTEM and ZTEM
surveys will be integrated into our extensive dataset encompassing geology, geochemistry,
geophysics and over 150,000 meters (or approximately 500,000 feet) of historical drilling
accumulated over a 40-year period of exploration, all of which has been geo -referenced into
an integrated GIS database. This dataset will be analyzed to determine and prioritize targets
for drill testing later in the summer after the Arctic environmental and geotechnical drill
program has been completed.
Figure 1. Location of Anomalous VTEM and ZTEM within the Ambler VMS Belt
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Ambler Mining District Industrial Access Project (“AMDIAP”)
The Company continues to have regular dialogue with the Bureau of Land Management (“BLM”)
which is the lead agency for the permitting of the AMDIAP. Trilogy participated in several
meetings and has provided information and comment on the Proposed and Alternative routes
being considered for the Draft Environmental Impact Statement (“EIS”). According to the BLM
website, “The Draft Environmental Impact Statement is scheduled to be available to the public
midsummer 2019. A 45 -day public comment period is scheduled. Locations of the public
meetings, including the ANLICA 810 hearings, are to be determined, based on the analysis.
The Final EIS is scheduled to be complete in late fall/early winter 2019.”
For more information on the timing of the AMDIAP permitting please visit the BLM website at
https://eplanning.blm.gov/epl-front-
office/eplanning/planAndProjectSite.do?methodName=dispatchToPatternPage¤tPageId
=111137
Qualified Persons
Andrew W. West, Certified Professional Geologist, Exploration Manager for Trilogy Metals Inc.,
is a Qualified Person as defined by National Instrument 43 -101. Mr. West has reviewed the
technical information in this news release and approves the disclosure contained herein.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration and development 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 located 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 carbonate replacement deposits which have been found to host
high-grade copper and cobalt mineralization. Exploration efforts have been focused on two
deposits in the Ambler mining district - the Arctic VMS deposit and the Bornite carbonate
replacement deposit. Both deposits are located within the Company's land package that spans
approximately 143,000 h ectares. The Company has an agreement with NANA Regional
Corporation, Inc., a Regional Alaska Native Corporation that provides a framework for the
exploration and potential development 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 Contact
Patrick Donnelly
Vice President, Corporate Communications & Development
604-630-3569
604-638-8088 or 1-855-638-8088
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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 applicable 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, planned expenditures and the anticipated drilling, survey,
permitting and other activity at the Company’s properties and the timing thereof, the timing and the filing of updated
technical reports on the Company’s projects , are forward -looking statements. The metallurgical results discussed in
this press release should not be considered representative of other drilling results for the 201 9 drilling campaign.
Forward-looking statements are frequently, 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; mineral reserves and
resource estimates; work programs; c apital 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 statem ents 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 uncer tainties involving success of
exploration, development and mining activities, permitting timelines, requirements for additional capital, government
regulation of mining operations, environmental risks, unanticipated reclamation expenses; mineral reserve an d
resource estimates and the assumptions upon which they are based; assumptions and discount rates being
appropriately applied to the pre-feasibility study ; 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 th e 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 development
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; fluctuations in metal prices and currency exchange rates; and other risks and uncertainties disclose d
in the Company’s Annual Report on Form 10 -K for the year ended November 30, 201 8 filed with Canadian securities
regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports
and documents filed with applicable securities regulatory authorities from time to time. The Company'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, opinions, projections, or other 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 requirements 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 Disc losure for Mineral Projects (“NI 43 -101”) and the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council,
as amended (“CIM Definition Standards”). 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 tha t the
mineralization could be economically and legally produced or extracted at the time the reserve determination is made.
The requirements of NI 43-101 for identification of "reserves” are also not the same as those of the SEC, and reserves
reported by T rilogy 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 Industry 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.