Trilogy Metals Reports First Quarter Fiscal 2017 Financial Results

Trilogy Metals Inc. (TSX, NYSE-MKT: TMQ) (“Trilogy Metals” or “the Company”) is pleased to report its first quarter results for the period ended February 28, 2017. Details of the Company’s financial results are contained in the unaudited interim consolidated financial statements and Management’s Discussion and Analysis which will be available on the Company’s website at www.trilogymetals.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in United States dollars unless otherwise stated.
As quoted in the press release:

First Quarter Fiscal 2017 Highlights:
Strong working capital position of $12.5 million with cash on hand of $6.4 million.
Cash flow used in operating activities of $1.4 million for the three months ended February 28, 2017.
Loss for the three month period ended February 28, 2017 of $3.0 million, including an unrealized loss on held for trading investments of $1.2 million.
Significant milestone reached with the publishing of the Notice of Intent (“NOI”) for the Ambler Mining District Industrial Access Project (“AMDIAP”) by the Bureau of Land Management on February 28, 2017. The NOI initiates the permitting process under the National Environmental Policy Act for the preparation of an Environmental Impact Statement (“EIS”) on the AMDIAP. This notice initiates the public scoping process for the EIS with comments due by May 30, 2017.
Considerable progress on pre-feasibility level engineering studies incorporating field results from the past two seasons which will form the basis for a pre-feasibility study announced in March to be completed on the very high-grade polymetallic volcanogenic massive sulphide (“VMS”) Arctic deposit.

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