VANCOUVER, BC, Feb. 13,
2025 /PRNewswire/ - Trilogy Metals Inc.
(TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or the
"Company") has filed a National Instrument 43-101 technical report
titled "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 and a filing date
of February 13, 2025 with the
Canadian securities regulators (the "NI 43-101 Report"). The
Company will also be filing a S-K 1300 technical report summary
titled "S-K 1300 Technical Report Summary on the Initial Assessment
of the Bornite Project, Northwest Alaska,
USA" with an effective date of November 30, 2024 with the United States
Securities and Exchange Commission. A copy of the applicable report
will be available under the Company's profile on SEDAR+ at
www.sedarplus.ca and on EDGAR at www.sec.gov/edgar and on the
Company's website at www.trilogymetals.com.
The Preliminary Economic Assessment ("PEA") was prepared for the
Bornite copper project ("Bornite Project") located in the Ambler
Mining District of Northwestern
Alaska. The Bornite Project is held by Ambler Metals LLC
("Ambler Metals"), the joint venture operating company equally
owned by Trilogy and South32 Limited ("South32"). The PEA has not
been reviewed by South32 or Ambler Metals. The PEA was prepared on
a 100% ownership basis, of which Trilogy's share is 50%. The
results of the PEA were announced on January
15, 2025. There are no material differences in the NI 43-101
Report from those results disclosed in the Company's news release
dated January 15, 2025.
Trilogy Metals engaged independent consultants, Wood Canada
Limited, Ausenco Engineering Canada ULC, SRK Consulting
(Canada) Inc., International
Metallurgical & Environmental Inc., and Core Geoscience LLC to
prepare the PEA on a 100% ownership basis, under National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"). An Initial Assessment for the Bornite
Project was also prepared on a 100% ownership basis in accordance
with Subpart 1300 and Item 601 of the Regulation S-K.
Qualified Persons
Richard Gosse, P.Geo., Vice
President, Exploration for Trilogy Metals, is a Qualified Person as
defined by NI 43-101. Mr. Gosse has reviewed and approved the
scientific and technical information in this news release.
About Trilogy Metals
Trilogy Metals Inc. is a metal exploration and development
company which holds a 50 percent interest in Ambler Metals LLC,
which has a 100 percent interest in the Upper Kobuk Mineral
Projects in northwestern Alaska.
On December 19, 2019, South32, a
globally diversified mining and metals company, exercised its
option to form a 50/50 joint venture with Trilogy Metals. The UKMP
is located within the Ambler Mining District which is one of the
richest and most-prospective known copper-dominant districts in the
world. It hosts world-class polymetallic volcanogenic massive
sulphide ("VMS") deposits that contain copper, zinc, lead, gold and
silver, and carbonate replacement deposits which have been found to
host high-grade copper and cobalt mineralization. Exploration
efforts have been focused on two deposits in the Ambler Mining
District – the Arctic VMS deposit and the Bornite carbonate
replacement deposit. Both deposits are located within a land
package that spans approximately 190,929 hectares. Ambler Metals
has an agreement with NANA Regional Corporation, Inc., an Alaska
Native Corporation that provides a framework for the exploration
and potential development of the Ambler Mining District in
cooperation with local communities. Trilogy Metals' vision is to
develop the Ambler Mining District into a premier North American
copper producer while protecting and respecting subsistence
livelihoods.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, included herein are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or "should" occur or
be achieved. These forward-looking statements may include
statements regarding perceived merit of properties; the exploration
potential of the UKMP; and other statements that are not statements
of fact. Forward-looking statements involve various
risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's expectations include the risks
and uncertainties disclosed in the Company's Annual Report on Form
10-K for the year ended November 30,
2023 filed with Canadian securities regulatory authorities
and with the United States Securities and Exchange Commission and
in other Company reports and documents filed with applicable
securities regulatory authorities from time to time. The Company's
forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made. The Company
assumes no obligation to update the forward-looking statements or
beliefs, opinions, projections, or other factors, should they
change, except as required by law.
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SOURCE Trilogy Metals Inc.
