Why Invest

Trilogy Metals has all the right attributes that shareholders look for when investing in high-quality exploration and development companies.

Assets¹

The Company has a 50% interest in the 190,929-hectare Upper Kobuk Mineral Projects (“UKMP”) which hosts numerous areas containing high grade volcanogenic massive sulphide and carbonate replacement style polymetallic zones of mineralization.
The UKMP hosts some of the highest-grade copper deposits in the world including the high-grade, feasability stage, Arctic copper-zinc-lead-gold-silver project which has an after-tax net present value of US$1.1 billion. The Arctic Project hosts grades over 4% copper equivalent.
The adjacent Bornite Project, also within the UKMP, contains Inferred Resources of 6.5 billion pounds of contained copper and has an after-tax net present value of US$394 million. If developed after Arctic, Bornite has the potential to extend mine activity for the UKMP to over 30 years.

Partners

Trilogy has a partnership with NANA Regional Corporation which is an Alaska Native Corporation that owns the Red Dog Mine (operated by Teck Resources), the largest zinc producer in the world.
The Company has a strong partnership with the State of Alaska which is home to numerous world-class mining operations.
Trilogy also has a joint venture with South32 Ltd, which contributed US$145 million in cash into the joint venture. South32 is an Australia-based metal mining company with a market capitalization of approximately US$9 billion.

Jurisdiction

The UKMP is in Alaska, which is ranked by the Fraser Institute as third of 82 mining jurisdictions for Investment Attractiveness in 2024. There is considerable support from all levels of government.

People

Trilogy led by Tony Giardini who has over 40 years of experience in the mining industry including most recently as the President of Ivanhoe Mines and, before that, as Chief Financial Officer for Kinross Gold Corp.
Elaine Sanders, Trilogy’s Chief Financial Officer, has more than 20 years of experience in audit, finance, and accounting with public and private companies.
Richard Gosse, the Company’s Vice President Exploration, is a highly seasoned exploration geologist with 35 years of experience, including 15 years at the Vice President level.

¹The Arctic resources above are contained in the Arctic NI 43-101 Technical Report on Feasibility Study with an effective date of January 20, 2023 and Arctic Project S-K 1300 Technical Report Summary with report date of November 30, 2022 (the “Arctic Report”). The following serve as the qualified persons for the Arctic Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and in accordance with Form 43-101F1: Kevin Murray, P.Eng., Ausenco Engineering Canada Inc.; Piers Wendlandt, P.E., Principal Mining Engineer, Wood Canada Limited; Henry Kim, P.Geo, Principal Resource Geologist, Wood Canada Limited; Calvin Boese, P. Eng., M.Sc., Principal Consultant, SRK Consulting (Canada) Inc.; Bruce Murphy, P.Eng., Principal Consultant, Rock Mechanics, SRK Consulting (Canada) Inc.; Andrea Bowie, P.Eng., Senior Consultant, Water Management, SRK Consulting (Canada) Inc.; and Dennis Fink, PE, Brown and Caldwell. The Bornite Reserves and Resources above are contained in the NI 43-101 Technical Report on the Preliminary Economic Assessment of the Bornite Project, Northwest Alaska, USA with an effective date of January 15, 2025, filed February 13, 2025 (the “Bornite Report”). The following serve as the qualified persons for the Bornite Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and in accordance with Form 43-101F1: Jeff Austin, P.Eng., President, International Metallurgical & Environmental Inc.; Calvin Boese, P.Eng., Principal Consultant (Geotechnical Engineering), SRK Consulting (Canada) Inc.; Jack DiMarchi, CPG, Principal, Core Geoscience LLC; Henry Kim, P.Geo., Principal Resource Geologist, Wood Canada Limited; Lewis Kitchen, P.Eng., Senior Mine Engineer, Wood Canada Limited; Daniel Mackie, P.Geo., Principal Consultant (Hydrogeology), SRK Consulting (Canada) Inc.; and Kevin Murray, P.Eng., Process Lead, Ausenco Engineering Canada ULC. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves.