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Trillium Gold to accelerate exploration; maximize land position in Red Lake

Jul 6, 2023

Trillium Gold Mines Inc. is providing details of its exploration focus and next steps for growing shareholder value. Having successfully completed its merger with Pacton Gold, the Company is positioned to emerge as a dominant explorer in the famous Red Lake Mining District - home to major gold producers such as Kinross Gold and Evolution Mining. With the largest, most strategic land position in the District, the Company plans to roll out aggressive exploration programs at key locations, including the Newman Todd project which features no less than 10 high-grade gold zones and recent drilling intercepts with bonanza grades. 

Company Highlights

Strategic Position Unique to Red Lake. Bordering five mines and advanced projects, including Evolution's Red Lake operations, Kinross' Dixie project and First Mining's Springpole project.

  • Major Mineralization with Expansion Potential. Newman Todd project hosts 10 high-grade zones along a 2.1 km strike, including a large and shallow historic 43-101 compliant resource estimate.

  • High Grades on Property. The last two holes press released at Newman Todd encountered bonanza grades such as NT22-211 with 40.56 g/t Au over 4.18 m, including 214 g/t au over 0.30 m and NT22-212 with 8.75g/t Au over 20.4m, including 549 g/t Au over 0.3 m. 

  • Extensive Drill Results and Sampling Database Including Numerous Exploration Hotspots. Over $60 million has been spent exploring this remarkable portfolio, with survey, mapping, sampling, and drill results covering over 89,600 ha.

  • Joint Venture with Evolution Mining. Sidace project is jointly owned with Red Lake's senior producer and includes three high-grade zones, each of which is open along strike and at depth.

  • Additional Upside from Critical Metals. While the portfolio is primarily focused on gold, work programs have previously encountered significant occurrences of critical metals.

Nav Dhaliwal, President, CEO and Director of Trillium, commented, "With the Pacton Gold merger complete, the way is paved for the Company to become an exploration powerhouse in the Red Lake Mining District. Our unique strategic position, enriched by major mineralization, high grades, and a robust exploration database, creates an unprecedented opportunity for accelerated growth. Our plans include a significant drill program, targeting the promising zones on the Newman Todd project, while also exploring potential at our extensive regional land package. This is a momentous time for our company as we embark on this new phase of exploration and value creation."

Exploration Strategy

The Company plans to conduct a significant drill program expected to commence by September. The campaign will include expansion drilling at the Newman Todd project, where minimal drilling has been conducted below 400 m and along strike of existing zones. In previous drilling at Newman Todd, more than 40% of holes have intersected grades more than 20 g/t Au over a variety of intervals, which suggests an extensive, strongly mineralized system with room for expansion. Drilling will also be conducted at high priority regional targets on the newly combined land package including the Confederation, Gullrock and Main Red Lake properties.

Additionally, the Company will be following up on previously identified occurrences of critical minerals. The business case and growth prospect for battery metals is robust, and both the federal and provincial governments are aggressively supporting the growth of domestic battery supply chains. 

Dale Ginn, P.Geo., Executive Chairman & Director of Trillium, is a Qualified Person as defined under NI 43-101. Mr. Ginn has reviewed and approved the scientific and technical information in this press release.

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The recent completion of the acquisition of Pacton Gold Inc. extends Trillium's ownership in Red Lake to over 89,600 hectares of prospective and diversified exploration properties with significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today. A portfolio of prospective projects in Western Australia has also been acquired.

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