Trilogy Metals Reports Drilling Results from Sunshine Prospect

Drilling Highlights – Sunshine Prospect

At a cutoff grade of 1.5% copper equivalent* the results from the Sunshine prospect are as follows:

SC19-018 intersected four mineralized intervals of:

• 5.2 meters with a copper equivalent grade of 3.93% (2.08% copper, 3.13% zinc, 0.63% lead, 0.15 g/t gold and 41.64 g/t silver);
• 6.3 meters with a copper equivalent grade of 2.38% (1.63% copper, 1.45% zinc, 0.09% lead, 0.07 g/t gold and 13.38 g/t silver);
• 7.2 meters with a copper equivalent grade of 1.69% (0.72% copper, 2.18% zinc, 0.21% lead, 0.03 g/t gold and 6.64 g/t silver); and
• 1.1 meters with a copper equivalent grade of 1.71% (1.53% copper, 0.35% zinc, 0.01% lead, 0.03 g/t gold and 3.67 g/t silver).

SC19-020 intersected four mineralized intervals of:

• 3.4 meters with a copper equivalent grade of 6.54% (4.15% copper, 3.42% zinc, 0.83% lead, 0.26 g/t gold and 74.35 g/t silver);
• 1.6 meters with a copper equivalent grade of 3.77% (1.43% copper, 1.65% zinc, 0.40% lead, 0.06 g/t gold and 23.30 g/t silver);
• 4.9 meters with a copper equivalent grade of 5.77% (4.47% copper, 3.42% zinc, 0.01% lead, 0 g/t gold and 0.12 g/t silver); and
• 2.7 meters with a copper equivalent grade of 3.87% (3.70% copper, 0.44% zinc, 0% lead, 0 g/t gold and 0.40 g/t silver).

SC19-021 intersected one mineralized interval of:

• 9.7 meters with a copper equivalent grade of 6.10% (3.93% copper, 3.00% zinc, 0.77% lead, 0.22 g/t gold and 73.10 g/t silver).

SC19-022 intersected three mineralized intervals of:

• 1.4 meters with a copper equivalent grade of 5.90% (2.89% copper, 4.87% zinc, 1.41% lead, 0.17 g/t gold and 68.30 g/t silver);
• 4.2 meters with a copper equivalent grade of 1.85% (0.34% copper, 2.28% zinc, 1.07% lead, 0.07 g/t gold and 30.63 g/t silver); and
• 15.3 meters with a copper equivalent grade of 3.08% (1.35% copper, 2.91% zinc, 0.78% lead, 0.16 g/t gold and 32.58 g/t silver).

SC19-023 intersected one mineralized interval of:

• 5.0 meters with a copper equivalent grade of 2.09% (0.87% copper, 1.92% zinc, 0.66% lead, 0.10 g/t gold and 24.69 g/t silver).

* Assumptions used for the copper equivalent calculation were metal prices in USD of $2.90/lb copper, $1.10/lb zinc, $0.90/lb lead, $1,250/oz gold, and $18/oz silver and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Zinc (%) x 0.379) +(lead (%) x 0.310) + (Gold (g/t) x 0.629) + (Silver (g/t) x 0.009).

“The grades and widths of mineralization found at the Sunshine prospect are very similar to what we see at the Arctic project and I expect that with more drilling that we can delineate more mineralization at Sunshine,” says James Gowans, Interim President and CEO of Trilogy Metals. “I also note that the Sunshine prospect is just one of dozens of prospects found within the 70-mile (100 kilometer) long Ambler VMS Belt which has the potential to be one of the most prolific mining districts in the world.”

Ambler Mining District Industrial Access Project

On October 29, 2019 the comment period closed for the AMDIAP Draft Environmental Impact Statement (EIS). The Bureau of Land Management (BLM), which is the lead agency, is now incorporating the comments into the final EIS. The BLM is expected to provide an update on the timing of the completion of the final EIS at a later date. For more information on the permitting process for the AMDIAP please go to BLM Ambler Road.

Sunshine Prospect

At Sunshine, which is located approximately eight miles (thirteen kilometers) from the Arctic Project, Trilogy drilled six holes comprising 1,357 meters. On September 10, 2019, it released the results from drill hole SC19-019 which contained copper-zinc-lead-gold-silver mineralization.

The Sunshine prospect lies within a north-facing alpine cirque west of the Shungnak River and just south of the eastward flowing Sunshine Creek. The Ambler VMS-style mineralization was discovered by Bear Creek Mining Company in 1969 and is exposed on an east trending ridge. The rock units exposed are typical of the Ambler Schist sequence that hosts the Arctic deposit and include quartz +/- feldspar and chlorite schist, graphitic and graphitic quartz schist, marble and calcareous schist. Massive and semi-massive sulphide mineralization, consisting of chalcopyrite, sphalerite, galena, and tetrahedrite/tennantite, occurs in 0.1 meter to eight-meter bands generally at a contact between graphitic and calcareous schist.

Results for Sunshine are presented in Table 1 at a cutoff grade of 1.5% copper equivalent. All the intersected widths are close to normal to stratigraphy and therefore can be considered to be true widths. Results at a more selective higher-grade cutoff of 2.5% copper equivalent are also presented in Table 2 to show locally higher-grade intervals. Table 3 shows the drill hole locations.