Trinity One Metals Announces Definitive Option Agreement to Acquire 100% Interest in the Historic Nueva Chanarcillo Silver Mine in Northern Chile

Trinity One Metals Ltd. (TOM) has entered into a definitive purchase option agreement to acquire 100% of the Juan Godoy property, also known as the Nueva Chanarcillo Project, in Chile’s Atacama Region. The transaction is handled through the company’s subsidiary, Metales de Chile SpA.

The deal carries an aggregate cash option payment of US$10,000,000, structured in five tranches over 48 months. The initial payment is US$150,000 upon execution. Upon exercise of the option, the vendor retains a 2.0% net smelter returns (NSR) royalty.

Historical data from the property indicates exceptional silver grades. Oxidized zones have reported grades of 2.0% to 2.5% Ag (20,000-25,000 g/t), while sulphide zones have reported 0.35% to 0.8% Ag (3,500-8,000 g/t).

Trinity One Metals plans to immediately commence a modern exploration program. This initiative includes airborne magnetics, historical tailings sampling, and initial diamond drilling targeted for Q4 2026. The deal remains subject to due diligence, formal transfer of shares, and TSX Venture Exchange acceptance.

Trinity One Metals Ltd. (TOM) has systematically expanded its portfolio through targeted acquisitions and financings. In October 2025, the company raised $750,000. This was followed in January and February 2026 by the acquisition of the Silver-1 mine in Ecuador for $540,000 USD plus shares. In March 2026, Trinity One closed a $5.34 million financing to fund exploration and project advancement. Operational updates and the compilation of historic 1978 drill data from Silver-1 were released in June and July 2026. The August 2026 Nueva Chanarcillo option represents the next step in this asset accumulation strategy.

The US$10 million total option price is significant relative to the company's approximately $9.4 million market capitalization and $5 million cash position. While the initial $150,000 payment is manageable, the staged payments of $300,000, $750,000, $1 million, and $7.8 million will necessitate significant future equity raises.

Historical grades at the site are compelling but remain unverified by modern standards. The company plans to begin with geophysics and surface sampling before committing to drilling. Given the recent financing and Ecuador acquisition, market participants likely anticipated further asset expansion. This announcement serves as a standard exploration milestone for a junior explorer rather than a surprise catalyst. It does not alter the near-term cash burn trajectory but extends the exploration timeline into late 2026.

Trinity One Metals Ltd. (TOM) is a micro-cap exploration company focused on precious and base metals across three jurisdictions: Ecuador, Mongolia, and Australia.

The company’s flagship project is the Silver-1 Mine in Ecuador, a past-producing high-grade silver-lead-zinc vein system. Historical exploration suggests a conceptual target of 0.20–0.70 Mt grading 15–25 oz/t Ag. Trinity One is currently verifying historical data and planning modern NI 43-101 compliant resource definition.

The company has also added Nueva Chanarcillo (Juan Godoy) in Chile. This property is part of a historic district with approximately 100 moz of total historical production. It covers the original 1832 discovery area and offers high-grade exploration upside.