Drill Program Reveals Mineralization Extends Beyond Proposed Arctic Pit

VANCOUVER - Trilogy Metals Inc. reported on drilling from the summer field season at the Arctic Project, part of the Upper Kobuk Mineral Projects (UKMP) located in Northwestern Alaska managed by Ambler Metals LLC, the joint venture operating company equally owned by Trilogy and South32 Limited . The 2021 Arctic field program included 4,131 meters of diamond drilling, comprising 18 holes, that were designed to convert a portion of the resources from the Indicated category to the Measured category, and provide material for metallurgical testing and geotechnical information. The results contained in this news release are from the first two geotechnical holes of the program that were drilled at the start of the field season. The results of the remaining 16 holes are expected to come in over the next couple of months.

Drill holes AR21-0173 and AR21-0175 were drilled as part of the 2021 geotechnical program that is designed to test the northeast pit's wall stability. Both holes show that high grade mineralization extends beyond the currently defined pit at Arctic. Based on a cut-off grade of 0.5% copper equivalent, significant zones of high-grade copper, zinc, lead, gold, and silver mineralization were intersected, including: AR21-0175 intersected three mineralized intervals, including 24.94 meters of 1.85% copper, 2.96% zinc, 0.57% lead, 0.28 g/t gold and 27.09 g/t silver for a copper equivalent grade of 3.55%. Within this interval is a subinterval of 5.62 meters grading 4.94% copper, 10.57% zinc, 1.71% lead, 0.40 g/t gold and 58.90 g/t silver for a copper equivalent grade of 10.17%; and AR21-0173 intersected one mineralized interval of 3.77 meters of 2.15% copper, 0.87% zinc, 0.34% lead, 0.83 g/t gold and 82.89 g/t silver for a copper equivalent grade of 3.85%.

The composites are based on a copper-equivalent grade of 0.5% using metal prices from Trilogy's 2020 Arctic feasibility study ($3.00/lb copper, $1.10/lb zinc, $1.00/lb lead, $1,300/oz gold, and $18.00/oz silver) and a maximum of 3-meter internal dilution. All drill hole intercepts are close to true width.

Tony Giardini, President and CEO, said, "The initial drilling results from Arctic continue to confirm our belief that the Arctic deposit is one of the highest grade polymetallic mineral projects in the world. Not only is Arctic high grade, but it also has wide zones of mineralization that are relatively close to surface. Of note is drill hole AR21-0175 which appears to extend high-grade mineralization beyond the current pit at Arctic. The latest drilling program at Arctic will assist Ambler Metals in the continued de-risking of the project and in the detailed engineering of the asset."