Trilogy Metals Announces the 2022 Program and Budget for the Upper Kobuk Mineral Projects and Provides Update on Arctic Permitting

Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce that Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and a wholly-owned subsidiary of South32 Limited (ASX: S32) (LSE: S32) (JSE: S32) (ADR: SOUHY) ("South32"), has approved the 2022 program and budget of approximately $28.5 million for the advancement of the Upper Kobuk Mineral Projects ("UKMP") located in Northwestern Alaska . The budget is 100% funded by Ambler Metals and was confirmed by the NANAAmbler Metals Oversight committee. All amounts are in US dollars.

Highlights of the Approved 2022 Program

Approximately $28.5 million budget fully funded by Ambler Metals
Up to 10,000 meters to be allocated between resource development drilling at the Arctic Project and priority drill-ready exploration targets in the district
Engineering studies advancing the Arctic Project
Submission of the Federal 404 permit application in early 2022

Proposed 2022 Arctic and UKMP Drilling Program

A two-day technical review of the 2021 exploration program, involving geologists from Trilogy, South32 and Ambler Metals, was held in Fairbanks, Alaska on December 8 and 9, 2021. Ambler Metals presented technical results received to date and a preliminary outline of the 2022 exploration program. A full technical review of the 2021 exploration results and ranking of drill targets and target areas for the 2022 field season will be held in early 2022 once all assay results have been received, compiled, and interpreted.

The 2022 budget for Ambler Metals, approved by the owners, Trilogy and South32, will cover up to 10,000 meters of helicopter-supported diamond drilling that is expected to commence in early June. The meterage will be divided between resource development drilling at Arctic and scout drilling of both Volcanogenic Massive Sulphide ("VMS") targets in the Ambler Belt, with a focus on targets near Arctic, and Carbonate-Hosted Copper targets around Bornite and the Cosmos Hills. A greater effort on the ground to identify and evaluate new targets for drilling, including the use of ground and down-hole electro-magnetic (EM) surveys, is planned.

Arctic Permitting

An independent consulting company has completed a preparedness review of the draft permitting package for the Arctic Project and presented the results of this review to the technical teams of South32 and Trilogy. The review concluded that the Ambler Metals permitting strategy is sound and the permitting package can proceed with minor changes. Ambler Metals is now making the recommended changes to the permitting package and expects to file the permitting application, which will start the formal permitting process for the Arctic Project, with the United States Army Corps. of Engineers ("USACE") in early 2022.

Given that the Arctic Project is located on state and private land, the key federal permit will be the 404 Dredge or Fill Permit that is issued by the USACE, the lead agency during the federal permitting process. The permitting process will be carried out in accordance with the National Environmental Policy Act. In parallel with the federal permitting process, the State of Alaska , specifically the Alaska Department of Environmental Conservation, Alaska Department of Natural Resources and Alaska Department of Fish and Game, will be the state agencies responsible for issuing the state permits which include the Mine Operating Permit, the Air Quality Permit, the Dam Construction and Operating Permits, and the Water Discharge Permit. There will also be other permits issued by the Northwest Arctic Borough. The Company expects to file the permit application during the first quarter of 2022, and for the overall permitting process to take 24 to 30 months to be completed.

More details on the proposed 2022 program and Arctic permitting timeline will be made public in early 2022.

Tony Giardini , President and CEO of Trilogy, commented, "We are pleased that we are continuing to make progress on de-risking the Arctic Project and that we are now very close to commencing the formal permitting activities. Senior management at Trilogy Metals is working very closely with representatives from South32 and Ambler Metals in devising a 2022 program that will greatly assist in moving the Arctic Project forward and to continue to add value through the drill bit. We believe that 2022 will be another significant year for the Company."

Qualified Persons

Richard Gosse , Vice President Exploration for Trilogy, is a Qualified Person as defined by National Instrument 43-101. Mr. Gosse has reviewed the scientific and technical information in this news release and approves the disclosure contained herein.

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 ("UKMP") 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. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic 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 181,387 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's vision is to develop the Ambler Mining District into a premier North American copper producer.

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, including, without limitation, statements relating to the planned expenditures and the anticipated drilling, survey and other activity at the Company's properties and the timing and objectives thereof, the timing of submission and granting of permits, the Company's ability to de-risk the Arctic Project and unlock the mineral potential of the VMS Mineral Belt and the Company's future performance 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. 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 uncertainties involving success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, prices for energy inputs, labour, materials, supplies and services, uncertainties involved in the interpretation of drilling results and geological tests, unexpected cost increases and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2020 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.

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Trilogy Metals Reports High Grade Copper and Zinc from Drilling at its Arctic Deposit

VANCOUVER, Oct. 27, 2016 /PRNewswire/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., is pleased to announce drill results and provide a project update from its 2016 summer field program at the Arctic poly-metallic volcanogenic massive sulphide (VMS) deposit, part of the Upper Kobuk Mineral Projects (UKMP) located in the Ambler mining district of Northwest Alaska. All amounts are in United States dollars unless otherwise stated.

The majority of this year’s project budget of US$5.5 million was spent on a drilling program at the Arctic Project that included 3,058 meters of drilling for geotechnical, hydrological, waste rock characterization and metallurgical studies as well as further resource definition. In addition to the drilling program, a series of environmental studies were conducted over the UKMP. The LiDAR survey that was incomplete last year due to weather conditions was also completed during the summer. This site investigation work will form the basis for completing a future pre-feasibility study on the Arctic deposit.

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Trilogy Metals Announces Third Quarter Results and Provides a Corporate and Project Update

VANCOUVER, Oct. 6, 2016 /CNW/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., announces its financial results for the third quarter ended August 31, 2016. Details of the Company’s financial results are contained in the unaudited 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 inUnited States dollars unless otherwise stated.
Corporate and Project Update
Name Change
In September 2016, we changed our name to Trilogy Metals Inc. to better reflect our Company’s naturally diversified resource base. The Company’s Upper Kobuk Mineral Projects (“UKMP”) are located in the Ambler mining district in northwest Alaska; a region known to host deposits rich in copper, zinc, lead, gold and silver. The Company controls the mineral rights to approximately 353,000 acres of land containing two known mineral belts, the Ambler Schist Belt and the Bornite Carbonate Sequence. The Ambler Schist Belt hosts volcanogenic massive sulphide (“VMS”) type mineralization occurring as a series of high-grade polymetallic copper-lead-zinc-gold-silver deposits along the entire 100 kilometer (70 mile) long belt. The Bornite Carbonate Sequence hosts several copper replacement targets around the Aurora and Pardner Hill prospects, in addition to an established resource identified at Bornite. Mineralization at Bornite is open to further exploration. The shareholders had previously voted in favour of the change of the Company’s name to Trilogy at our annual and special meeting of shareholders held on May 18, 2016.
Upper Kobuk Mineral Projects
In early August 2016, we wrapped up another successful season advancing the Arctic deposit towards pre-feasibility. The majority of the 2016 project budget of $5.5 million was spent completing a 3,058 metre drill program at the Arctic Project to support geotechnical, hydrological, waste rock characterization and metallurgical studies, as well as resource definition. Substantial field work was also completed to support the continuation of baseline environmental data collection. During the course of the field season, data collection was completed to support an aquatic survey, an avian and large mammal habitat survey, an archaeological survey and expansion of the wetlands delineation and surface quality work. The remaining thirty percent of the LiDAR survey (used to obtain high resolution topographic data) over the UKMP, initiated during the last field season, was completed. The site investigation work completed in 2016 will form the basis for the completion of studies this fall and a future pre-feasibility study on the Arctic deposit. Drill assay results are expected to be released during the fall of 2016.
Sale of Sunward and the Titiribi Project
On September 1, 2016, Trilogy closed the sale of all of the issued and outstanding shares of Sunward Investments Ltd. (“Sunward Investments”) to Brazil Resources Inc. (“BRI”) for consideration of 5,000,000 common shares of BRI, of which 2,500,000 common shares are subject to a six month holding period, and 1,000,000 BRI warrants, with each warrant exercisable into one common share of BRI for a period of two years from the closing date at an exercise price of Cdn$3.50 for total consideration valued at approximately$8.1 million. Sunward Investments, through a subsidiary, owns 100% of the Titiribi gold-copper exploration project located approximately 70 kilometers southwest of the city of Medellin, in Antioquia Department, Colombia. Trilogy acquired Sunward Investments and the Titiribi project as part of its acquisition of Sunward Resources Ltd. (“Sunward”) in a business combination which closed on June 19, 2015.
The Company reclassified the net assets of Sunward Investments as an asset held for sale and its operations as a discontinued operation, retrospectively, in its third quarter financial statements. The Company expects to realize a gain on the sale of approximately$4.4 million in the fourth quarter of 2016.
Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.

Mining News: Enter Trilogy Metals

What does a name say about a company? Management of NovaCopper Inc. feels that its corporate moniker does not say enough about the diversity of metals present in the high-grade deposits encompassed by its Upper Kobuk Minerals Projects in the Ambler mining district of Northwest Alaska.
Arctic, the most advanced UKMP deposit, actually hosts more zinc than it does copper. And, while copper remains the dominant metal in terms of value, zinc supply shortages are closing the price gap between these two metals. Additionally, strong gold and silver prices have increased precious metals contributions to Arctic’s value this year.
“The Ambler district is more than just copper – it is copper; it’s zinc; (and) it’s precious metals,” NovaCopper President and CEO Rick Van Nieuwenhuyse explained in a recent interview.
As such, when markets open in Toronto and New York Sept. 8, NovaCopper Inc. will be no more. In its place, Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), will grace the boards of the Toronto Stock Exchange and NYSE-MKT.
NovaCopper shares under the previous symbol, NCQ, will seamlessly transition to Trilogy Metals shares, requiring no action for current shareholders.
Transition to Trilogy
Spun out of Novagold Resources Ltd. in 2012 to continue the exploration of Arctic and Bornite, two of the highest grade un-mined copper deposits in the world, NovaCopper was a natural choice for the Ambler mining district focused exploration company.
In the months leading up to the formation of NovaCopper, Van Nieuwenhuyse, who was then president and CEO of Novagold, forged a partnership with NANA Regional Corp. that brought together a large package of Novagold-owned mining claims blanketing a 70-mile- (110 kilometer) long belt of high-grade copper-lead-zinc-gold-silver deposits with an adjacent package of NANA-owned lands known for hosting exceptionally high-grade copper.
The alliance provides the Inupiat-owned Alaska Native regional corporation with the opportunity to benefit from the exploration and eventual development of the world-class Arctic deposit and other similar volcanogenic massive sulfide prospects across the Ambler belt. In return, NovaCopper was given the opportunity to investigate Bornite, a copper-rich deposit situated about 16 miles (26 kilometers) southwest of Arctic, and explore other mineral prospects across a large highly prospective swath of NANA lands in the Upper Kobuk region.
Over the ensuing four years, the partnership and the mineral endowment found on the 353,000 acres of UKMP lands has grown.
Today, the Arctic and Bornite deposits together are believed to host roughly 8.4 billion pounds of copper; 2.6 billion lbs. of zinc; 610,000 oz. of gold; 45.3 million oz. of silver; as well as significant quantities of lead and cobalt.
It is the natural diversity this broad range of metals – especially the zinc and precious metals components of Arctic, the UKMP deposit nearest to a production decision – that prompted the transition to the new name of Trilogy Metals.
Arctic focus
Over the past two years, the rebranded company has focused its field work on gathering the last bits of information needed to complete a pre-feasibility study that will outline plans to develop an open pit mine at Arctic.
A roughly 3,000-meter drill program at Arctic was the biggest ticket item of this year’s field program.
Prior to a similar infill drill program completed last year, Arctic hosted 23.85 million metric tons of indicated resource averaging 3.26 percent (1.71 billion lbs.) copper, 4.45 percent (2.34 billion lbs.) zinc, 0.76 percent (400 million lbs.) lead, 0.71 grams per metric ton (550,000 oz.) gold, and 53.2 g/t (40.8 million oz.) silver.
This VMS deposit also contains an estimated 3.63 million metric tons of inferred resource averaging 3.22 percent (239 million lbs.) copper, 3.84 percent (285 million lbs.) zinc, 0.58 percent (43.2 million lbs.) lead and 0.59 g/t (60,000 oz.) gold.
“What is so spectacular about Arctic is it hosts really fantastic grades,” said Van Nieuwenhuyse.
Drilling over the past two seasons has focused on upgrading much of the inferred resources to the higher confidence measured and indicated categories; some pit expansion drilling; and holes targeted to collect pit slope stability, hydrology and metallurgical information.
Thanks in part to great weather at Arctic this year, the 2016 program came in under the US$5.5 million budgeted for the field work.
Trilogy Metals is expected to release results from this drilling and the other field work in October.
Advancing Ambler
When Trilogy Metals returns to the Ambler district in 2017, the company plans to complete the geotechnical work needed to further refine locations for a power plant, mill, waste rock pile, stockpiles and tailings facilities for the Arctic mine plan to be detailed in the prefeasibility study.
The renamed company also would like to resume drilling at Bornite, a copper-rich carbonate replacement deposit that is reminiscent of those found in the African Copper Belt of southern Africa and the Mt. Isa district of Queensland, Australia.
Using a 0.50 percent copper cutoff grade, Bornite now hosts an estimated 40.5 million metric tons of in-pit indicated resources averaging 1.02 percent (913 million pounds) copper; and 84.1 million metric tons of inferred resources averaging 0.95 percent (1.8 billion lbs.) copper.
Additionally, at a 1.50 percent copper cutoff grade, Bornite is estimated to contain 57.8 million metric tons of below-pit inferred resources averaging 2.89 percent (3.7 billion lbs.) copper.
While already world-class in terms of both size and grade, the various zones of Bornite are open to expansion in several directions. The most compelling area is a 1,000-meter-wide stretch of continuing high grades along the northern front.
Hole RC13-0220, the most northeasterly hole drilled at Bornite cut three very high-grade intervals from 877 to 923 meters (at a 2.0 percent cutoff): 5.9 meters of 6.66 percent copper; 9.9 meters of 2.48 percent copper; and 19.7 meters of 2.24 percent copper.
Hole RC13-0224, drilled about 800 meters west of hole 220, cut five high-grade intercepts from 579 meters to 755 meters along this northern front: 19.5 meters of 3.02 percent copper; 16.8 meters of 2.36 percent copper; 39.5 meters of 2.37 percent copper; 8.6 meters of 3.26 percent copper; and 6.5 meters of 7.7 percent copper.
Trilogy believes that continued expansion in this direction could put the grades and size of its Ambler deposits on par with Mount Isa, where more than 400 million metric tons of ore grading 2.12 percent copper has been mined over the past 75 years.
Financial footing
An innovative financing completed last year puts Trilogy Metals in a good position to finish the pre-feasibility work at Arctic and continue exploration at Bornite.
In mid-2015, the company closed the buyout of Sunward Resources Ltd., a fellow exploration company with roughly US$20 million in the bank but a market cap hovering around US$13 million.
In exchange for the cash and Sunward’s Titiribi gold-copper project in Columbia, NovaCopper issued 43.1 million shares to Sunward shareholders.
When Trilogy Metals lights up the boards of the TSX and NYSE-MKT exchanges, it will have nearly US$10 million of this cash remaining in its treasury.
Adding to this strong financial footing, the company cut a deal in mid-August to sell the Titiribi property to Brazil Resources Inc., an exploration company with a growing portfolio of gold and copper properties in South America and Alaska.
In exchange for the Columbia gold-copper property, Trilogy will hold 5 million Brazil Resources shares. With a 50-day moving average of C$2.60 per share, these shares are currently worth about C$13 million.
“While we believe the Titiribi property has excellent exploration potential and a strong local team, the sale allows NovaCopper (Trilogy) to focus on its high-grade copper, zinc and precious metals projects located in Northwest Alaska,” said Van Nieuwenhuyse.
Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.

Acquisition of High-Grade Copper Project Adjacent to White Cliff Minerals

Somerset Minerals Ltd (“Somerset” or the “Company”) (ASX:SMM) is pleased to advise that it has entered into a conditional agreement to acquire 100% of the issued capital of Sentinel Resources Pty Ltd (“Sentinel”), which, through its local subsidiary, holds the Coppermine Project (the “Project”) in Nunavut, Canada.

Importantly, the Coppermine Project hosts 1,055 km2 of the prospective Copper Creek Formation basalts, and is interpreted to include the strike extensions to White Cliff’s high priory targets of Vision, Stark, Thor and Rocket (Figure 2 & 3), with the prospectivity of the wider project area also supported by extensive surface sampling and historic exploration (Table 1). Importantly, Somerset holds the ground entirely around and along strike from White Cliff’s recently acquired Danvers prospect which contains a non-JORC or NI 43-101 resource of 4.16Mt @ 2.96% Cu.

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Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations for US$1.52 Billion

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has entered a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden (STO:BOL) for up to US$1.52 billion.

The sale, announced by the company on Monday (December 9), will see Boliden acquire full ownership of Somincor, the company operating Neves-Corvo, as well as Zinkgruvan Mining Aktiebolag and its associated entities.

Lundin expects to receive upfront cash consideration of US$1.37 billion at closing, based on financial conditions as of August 31, 2024. Interest will accrue at 5 percent annually until the closing date.

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Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

News Provided by Canada Newswire via QuoteMedia

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Rio Tinto and Sumitomo Partner to Advance Winu Copper-Gold Project

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has signed a term sheet with Sumitomo Metal Mining (TSE:5713) for a joint venture to advance the Winu copper-gold project in Western Australia.

The partnership, announced on Wednesday (December 4), seeks to develop both companies’ exploration initiatives.

Sumitomo will acquire a 30 percent equity stake in the Winu project for US$399 million, including an initial payment of US$195 million and US$204 million in deferred considerations tied to project milestones and other conditions.

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Results of VVC Annual Shareholders’ Meeting

VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following:

Shareholders’ Meeting
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.

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For further information, please contact:
Patrick Fernet - (514) 631-2727	or	Emily Bigelow - (615) 504-4621
E-mail: pfernet@vvcexploration.com	E-mail: emily@vvcresources.com

Trilogy Metals Announces the 2022 Program and Budget for the Upper Kobuk Mineral Projects and Provides Update on Arctic Permitting

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