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Trillium Gold Closes Uchi and Satterly Gold Purchase Option Agreements Extending its Confederation Belt Land Position in Red Lake, Ontario

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Vancouver, BC, Canada – April 26, 2022 – Trillium Gold Mines Inc. (TSXV:TGM, OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/trillium-gold-mines-inc/ ) is pleased to announce that on April 25, 2022, it closed the purchase option agreements in respect of the Uchi Gold Project (the “Uchi Gold Agreement”) and the Satterly Gold Project, (the “Satterly Gold Agreement”) previously announced on April 5, 2022. 

The Agreements are considered significant steps in strengthening Trillium Gold’s strategic dominance across the Confederation belt and Birch-Uchi greenstone belts in the Red Lake Mining District.

Uchi Gold Agreement

The Uchi Gold Agreement comprises one hundred and eighty-two (182) unpatented mining claims covering 4,189 hectares immediately adjacent to and adjoining the Company’s Confederation belt land position. They consist of the contiguous and complementary Lost Bay, Fly East and Leg Lake mining claims that extend the Company’s existing Confederation belt property assemblage to the northeast towards the Satterly Lake property, and add to Trillium’s dominant position over 100km of favourable structure on trend with Kinross Gold’s Dixie deposit (see Figures 1 & 2 below).

In order to keep the option in good standing, Trillium Gold is required to pay aggregate consideration of $115,000 over a period of three years, issue an aggregate 300,000 common shares, and grant to the vendors a 2.0% net smelter returns royalty on each purchased asset. The Company has the right to repurchase 50% of each royalty (being 1.0%) by paying the holders an aggregate amount equal to $1,000,000.

Satterly Gold Agreement

The Satterly Gold Agreement comprises twenty-eight (28) claim cells in five (5) claims covering 565 hectares (called Satterly North). The area has seen sporadic exploration from the 1930’s with renewed gold exploration in the 1990’s and again from 2009. (see Figure 2 below).

In order to keep the option in good standing, Trillium Gold is required to pay aggregate consideration of $63,500 over a period of three years, issue an aggregate 100,000 common shares, and grant to the vendors a 1.5% net smelter returns royalty on each purchased asset. The Company has the right to repurchase 1/3 of each royalty (being 0.5%) by paying the holders an aggregate amount equal to $500,000.

In addition, the vendors have successfully acquired sixteen (16) recently staked cells in one (1) claim covering 323 hectares at a cost equal to the costs of staking (see Figure 3 below).

Clarification:

 

The Company wishes to clarify that in respect of the terms for the Satterly Gold Agreement, it was erroneously reported in the news release of April 5th, that the Company has the right to repurchase 50% of each royalty (being 0.75%) by paying the holders an aggregate amount equal to $500,000. 

The common shares issuable pursuant to the foregoing Agreements will be subject to a four month hold period pursuant to applicable securities laws.

The technical information presented in this news release has been reviewed and approved by William Paterson QP, P.Geo, Vice President of Exploration of Trillium Gold Mines, as defined by NI 43-101.

Figure 1: Uchi Gold Option Properties

Figure 2: Uchi and Satterly Gold Option Properties

Figure 3: Satterly Gold Option Property showing sixteen (16) recently staked cells in one (1) claim.

On behalf of the Board of Directors,

Trillium Gold Mines Inc.

Russell Starr

Interim Chairman, President & CEO

For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at [email protected], (416) 722-2456, or [email protected].

Visit our website at www.trilliumgold.com

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

About Trillium Gold Mines Inc.

 

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