Trigon Metals Inc. is pleased to provide an update on the previously announced agreement with Horizon Corporation Limited (“Horizon”) for the sale of Trigon’s ownership interest in the Kombat Mine in Namibia to Horizon (the “Transaction”).

Both Trigon and Horizon remain committed to completing the Transaction and continue to make steady progress toward closing. While the initial internal target date of March 31, 2025, for entering into a binding share purchase agreement (the “SPA”) was not met, work is advancing on the final steps necessary to complete the Transaction. The parties continue to collaborate on finalizing the SPA, securing the required approvals and satisfying the closing conditions, and Trigon expects to consummate the Transaction.

The key terms of the Transaction remain as follows:

Please see the Company’s press release dated February 11, 2025 for additional details regarding the Transaction.

Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, “We are pleased with the progress we have made toward closing the sale of Trigon’s interest in the Kombat Mine to Horizon. While we would have preferred a faster pace, we are working through the necessary steps to ensure a successful and seamless transition. Both Trigon and Horizon remain fully engaged in finalizing the Transaction, and we look forward to delivering a positive outcome for our shareholders.”

The Company will provide further updates as the Transaction advances toward closing. The completion of the Transaction remains subject to regulatory approvals, including TSX Venture Exchange approval, Trigon shareholder approval, third-party consents, and other customary closing conditions. Further to the Company’s press releases dated February 21, 2025 and March 6, 2025, the Company announces that the following finder fees were paid in connection with the recently closed non-brokered private placement by the Company: (i) Hampton Securities received $3,990 in cash and 15,960 finder warrants, (ii) EDE Asset Management Inc. received $5,400 in cash and 21,600 finder warrants, and (iii) Brightmind Ventures Limited received $47,450 in cash.

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