Updated Resource Estimate For The Bornite Project

VANCOUVER - Trilogy Metals Inc. announced an updated mineral resource estimate for the Bornite Project located in the highly prospective Ambler Mining District of Northwest Alaska. The Bornite Project forms part of the Upper Kobuk Mineral Projects (UKMP), owned by Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and a wholly owned subsidiary of South32 Limited. Updated Bornite Resource Estimate Highlights Include: 1) At a base case 0.50% copper cut-off grade and constrained within a limiting pit shell, the Bornite Project is estimated to contain in-pit indicated mineral resources of 41.7 million tonnes grading 1.04% copper for 955 million pounds of contained copper and in-pit inferred mineral resources of 93.9 million tonnes grading 0.98% copper for 2.0 billion pounds of contained copper. 2) Below the resource limiting pit shell, and at a base case cut-off grade of 1.5% copper, the combined South Reef and Ruby Zone is estimated to contain additional inferred mineral resources of 50.3 million tonnes grading 2.97% copper for 3.3 billion pounds of contained copper. 3) The South Reef area, which represents the bulk of the resources located below the pit shell, has inferred mineral resources estimated at 35.3 million tonnes grading 3.39% copper for 2.6 billion pounds of contained copper. 4) Below the resource pit shell, the Ruby Zone has inferred mineral resources estimated to be 15 million tonnes grading 1.98% copper for 653 million pounds of contained copper. 5) The total cobalt inferred mineral resource (in-pit and below pit), based on a cut-off grade of 0.5% copper, is 185.8 million tonnes grading 0.021% cobalt for 88 million pounds of contained cobalt.

Tony Giardini, President and CEO, said, “The Bornite and Arctic projects not only have a significant amount of copper but both assets also have some of the highest grades in the world and easily stand apart from our copper peers. I want to also note that the rationale of this updated resource estimate is to highlight the South Reef area which, based on drilling, appears to be amenable to underground bulk mining methods due to its exceptional mineralized widths and continuity. While our Ambler Metals Joint Venture team has been focused on the Arctic Project, which is located 24 kilometers from Bornite, we want to remind investors that Bornite is also a very compelling copper-cobalt project and is one of the highest-grade undeveloped copper assets in the world. We will now pass along this resource estimate to the Ambler Metals Joint Venture team which will look at ways at integrating this asset with our other assets within the UKMP."