Trident Resources Announces Option Agreement to Acquire Strategic Claims adjoining the Contact Lake Gold Project from North-Sask. Ventures Ltd. within the La Ronge Gold Belt

April 16, 2026 Acquisition Update

• Trident Resources Corp. entered an option agreement to acquire up to 100% interest in 19 mineral dispositions totaling 3,586 hectares within the La Ronge Gold Belt.
• The claims are contiguous with the existing Contact Lake Gold Project land holdings.
• Consideration includes C$85,000 cash and 40,000 shares structured over a three-year period ($25k/10k shares initially, then $20k/10k shares annually).
• The Optionor retains a 2% Net Smelter Returns (NSR) royalty; Trident holds the right to purchase a 1% interest in this royalty for C$1,000,000.
• Company reports over C$32 million in cash and marketable securities on its balance sheet.
• The company is currently executing a fully-funded 30,000m–40,000m drill program for 2026 at the Contact Lake Gold Project.

Context from April 15, 2026 Drilling Results

• High-grade gold assay results released from the first nine diamond drill holes of the 2026 winter drill program.
• Hole CL26028 returned 4.61 g/t Au over 38.48m including 5.48 g/t over 26.14m.
• The Company expanded its current winter drilling phase from 10,000m to approximately 13,000m based on positive results.

Historical Context (Feb-Jan 2026)

• February 26: Acquired 4,711 hectares from Eagle Plains Resources Ltd. (Related Party).
• January 27: Closed $15 million bought-deal financing plus over-allotment ($18.6M total proceeds).
• November 2025: Updated Mineral Resource Estimate showed 18% increase in Indicated ounces and 190% increase in Inferred ounces.

Evaluation of April 16 News

• The acquisition is consistent with the company's stated strategy of consolidating a dominant project portfolio in the La Ronge Gold Belt, as seen in previous acquisitions from Eagle Plains (Feb) and Edge Geological (Jan).
• Financial outlay is negligible relative to the cash position ($85k vs $32M cash), presenting minimal dilution or financial risk.
• The land addition expands the district-scale footprint around the flagship Contact Lake project, which has shown high-grade continuity in recent drilling (April 15 results).
• While positive for long-term asset base growth, the transaction does not introduce new technical data or immediate resource definition changes that would materially alter valuation compared to the November MRE upgrade.

Comparison to Expectations

• Market expectations were already aligned with aggressive land consolidation given the pattern of acquisitions in Q1 2026.
• The terms (low cash, share-based earn-in) are standard for junior explorers and do not deviate from previous related-party or arm's-length deals in this period.
• No unexpected catalysts or surprises; execution remains on plan.

Corporate Profile

• Name: Trident Resources Corp. (TSX-V: ROCK | OTCQB: TRDTF)
• Strategy: Consolidated explorer with district-scale gold and copper assets in Saskatchewan’s La Ronge Gold Belt.
• Flagship Project: Contact Lake Gold Project, a past producer (~190,000 oz Au from 1994–1998).
• Other Assets: Preview SW, Preview North, North Lake, Greywacke Lake, Reindeer, and Knife Lake Copper projects.

Development Status

• Contact Lake is in the active exploration phase with a fully funded 2026 drill program (30,000–40,000m planned).
• Recent drilling has intersected high-grade mineralization below historic infrastructure, suggesting potential for resource expansion beyond historical estimates.
• The company holds over 130,000 hectares of land in the La Ronge Gold Belt.