Trigon Metals receives first payment for Kombat sale

Executive Summary

• Trigon Metals Inc. has received the first scheduled quarterly payment from the sale of its interest in the Kombat mine to Kamino Minerals Ltd. and Horizon Corp. Ltd., marking the start of a structured payment stream intended to provide non-dilutive financing.
• The company is pivoting its focus to its Moroccan portfolio, specifically the Addana project, where camp setup is complete and drilling has commenced to test priority silver-polymetallic targets.
• The transaction includes not only fixed quarterly payments but also potential performance-based royalties and bonuses contingent on the successful restart of production at the Kombat mine.

Key Details

• Transaction Payment: Receipt of the first scheduled quarterly payment from the sale of the Kombat mine interest.
• Payment Structure: The consideration involves a series of eight quarterly payments scheduled to be completed before the April 4, 2026, deadline.
• Additional Consideration: Trigon is entitled to performance-based royalties and bonuses if production is successfully restarted at the Kombat mine.
• Strategic Pivot: CEO Jed Richardson stated the capital from the Kombat sale funds Moroccan exploration, marking a transition from "Trigon Metals to Safi Silver."
• Addana Project Status:
  • Camp setup is complete.
  • Access to drilling sites is cleared.
  • Geosond is on-site with a drill rig.
  • Drilling has begun to test priority targets identified through historical data and recent fieldwork.
• Project Geology: The Addana project is located in a region known for significant polymetallic mineralization, including silver, copper, and associated metals.
• Other Assets: The company also holds the Silver Hill sedimentary copper prospect in Morocco and the Kalahari copper belt project in Namibia.

Notable Quotes

• "The steady stream of capital from the sale of our interest in the Kombat mine provides non-dilutive financing for our Moroccan exploration. We are looking forward to the first results out of our district-scale silver-polymetallic Addana project. We have completed camp set-up and access is cleared to drilling sites at Addana. Geosond is on site with a drill rig and we are excited to begin unlocking the potential of our highly prospective land package, as we pivot from Trigon Metals to Safi Silver." — Jed Richardson, President and CEO