Trigon Metals Announces Annual and Special Meeting of Shareholders to Vote on Sale of its Interest in the Kombat Mine

TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) (“Trigon” or the “Company”) announces that it will be holding its annual and special meeting of common shareholders on Wednesday, June 11, 2025, at 10:00 a.m. ET (the “Meeting”) to, among other matters, vote on the proposed sale of the Company’s ownership interest in the Kombat Mine to Horizon Corporation Limited (the “Proposed Transaction”).

Trigon and Horizon are in the final stages of negotiation the definitive share purchase agreement (the “SPA”) that will govern the Proposed Transaction and the parties expect to be able to execute the SPA in the coming days. Please see the Company's press releases dated February 11, 2025 and April 2, 2025 for additional details regarding the Proposed Transaction. The Company will provide further updates as the Proposed Transaction advances. The completion of the Proposed Transaction remains subject to regulatory approvals, including TSX Venture Exchange approval, Trigon shareholder approval, third-party consents, and other customary closing conditions.

The Proposed Transaction is expected to transition Trigon from an under-capitalized operator to a well funded exploration company. This positions Trigon to focus on the full-scale advancement of its copper and silver exploration projects in Morocco, and the Kalahari Copper Project in Namibia. If approved, the Proposed Transaction will provide Trigon with the financial flexibility and capital necessary to aggressively pursue development activities at its Silver Hill, Addana and Kalahari projects, with no additional dilution to shareholders.

Jed Richardson, Executive Chairman and CEO of Trigon, commented:

“With visibility to approximately up to US$40M in payments plus a potentially lucrative royalty, this is an opportunity to concentrate our efforts where we see the highest growth potential and strongest returns, and return some capital to our shareholders over time. We are excited about what lies ahead.”

A package including the management information circular, which will describe the terms of the Proposed Transaction and additional details of the Meeting, will be mailed to Trigon shareholders of record as of May 6, 2025. The mailout will also include a link to download the Proposed Transaction Information Packet from the Trigon website.

About Trigon Metals

Trigon is a publicly traded Canadian exploration and development company focused on advancing copper and silver projects in Africa. The Company’s portfolio includes an 80% interest in five mining licences in Namibia’s Otavi Mountainlands, as well as the Kalahari Copper Project and its Moroccan exploration projects, including Addana and Silver Hill.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Meeting, the Proposed Transaction, the Company’s ability to close the Proposed Transaction, regulatory approvals and operational plans, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat mine, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.