Trinity One closes Silver-1 mine acquisition

Executive Summary

• Trinity One Metals Ltd. has closed the acquisition of 100% of the shares of 1560287 B.C. Ltd., which holds the Silver-1 mine concession in southern Ecuador.
• The transaction was completed on February 4, 2026, following TSX Venture Exchange acceptance, granting Trinity full corporate control of the historic high-grade silver asset.
• Total consideration for the acquisition was $540,000 USD in cash and 5 million common shares, subject to specific payment schedules and multi-year hold periods.

Key Details

• Target Asset: 100% interest in Ecuador Gold SA, the registered titleholder of the San Bartolome project, specifically the Silver-1 concession.
• Asset Location & Size: Approximately 3,108 hectares in Azuay province, southern Ecuador, ~20 km southeast of Cuenca, at elevations of 2,800–3,300 meters.
• Transaction Consideration:
  • Cash: $540,000 USD total, payable as follows:
    • $90,000 USD on closing.
    • $50,000 USD on the 6-month anniversary.
    • $200,000 USD on the 13-month anniversary.
    • $200,000 USD on the 18-month anniversary.
  • Shares: 5,000,000 common shares issued.
• Share Restrictions:
  • Statutory 4-month hold period.
  • Voluntary resale restrictions: 1/3 of shares restricted for 12 months, 1/3 for 24 months, and 1/3 for 36 months post-closing.
• Liabilities: Company assumed known liabilities, including a $43,500 USD balance payment obligation.
• Historical Context:
  • Discovered in 1966; small-scale mining occurred between 1989–1994 by Nissho Iwai and Ag-Armeno Mines.
  • Historical operations included ~3,570 meters of underground development and a 100-tonne-per-day mill.
  • Historical tailings dam identified on-site.
• Exploration Target:
  • Unverified historical tonnage/grade estimates from 1993 literature suggest a potential quantity of 200,000 to 700,000 tonnes.
  • Estimated grades: 15–25 oz/t silver, 2.2–3.6% zinc, and 0.9–1.4% lead.
  • Company treats these figures solely as an exploration target; no current mineral resource or reserve is defined.
• Future Plans: Management intends to advance a focused confirmation program to validate prior work and prepare a modern, compliant resource estimate.

Notable Quotes

• "The acquisition of the Silver-1 mine represents a significant milestone for Trinity One, securing full ownership of a high-grade, past-producing silver mine with substantial geological upside." — Thomas Wood, CEO
• "With complete control of the concession and access to extensive historical technical and permitting records, the company is well positioned to efficiently validate prior work and advance Silver-1 toward a modern, compliant resource estimate." — Thomas Wood, CEO

Admin Details

• Option Grants: The company granted 2.8 million incentive stock options to directors, officers, and consultants.
  • Exercise Price: $0.30 USD per share.
  • Term: 5 years from date of grant.
  • Vesting: Immediate.