Trilogy Metals Receives $10 Million from the Exercise of Warrrants

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Trust | Respect | Integrity

News Release

Trilogy Metals Receives $10 Million from the Exercise of Warrrants

June 28, 2019 - Vancouver, British Columbia – Trilogy Metals Inc. (TSX, NYSE

American: TMQ) ("Trilogy Metals” or the “Company”) is pleased to announce that all the

Company’s outstanding warrants have been exercised in advance of the expiry date. Three

of the Company’s largest shareholders have exercised 6,521,740 in ou tstanding warrants.

Because of the warrant exercise, Trilogy Meta ls has issued a total of 6,521,740 common

shares of the Company and received cash proc eeds of approximately $9.9 million. Because

of this warrant exercise, the Company now ha s a total of 138.7 million shares issued and

outstanding. All amounts are in US dollars.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the

securities described herein, nor shall there be any sale of these securi ties in any state or

jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration

or qualification under the securities laws of any such jurisdiction. The securities offered have

not been registered under the U.S. Securities Act of 1933, as amended, or any other securities

laws and may not be offered or sold in the United States absent registration or an applicable

exemption from registration requirements.

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-domina nt districts located in one of the safest geopolitical

jurisdictions in the world. It hosts world-class polymetallic volcanogenic massive sulphide

(“VMS”) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement

deposits which have been found to host high grade copper 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 143,0 00 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

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TSX / NYSE American

Symbol: TMQ