MiningNewsBreaks – Trilogy Metals Inc. (NYSE American: TMQ) (TSX: TMQ) Closes US$35.6 Million U.S. Government Strategic Investment to Advance Alaska Projects

This article has been disseminated on behalf of Trilogy Metals Inc. and may include paid advertising.

Trilogy Metals (NYSE American: TMQ) (TSX: TMQ) announced the completion of the previously announced strategic equity investment by the U.S. Department of War, totaling approximately US$35.6 million across transactions with Trilogy and South32 Limited. Trilogy and South32 have committed the full proceeds to Ambler Metals LLC, their 50/50 joint venture, to advance exploration and development of the Upper Kobuk Mineral Projects in northwestern Alaska, including the high-grade Arctic polymetallic deposit and Bornite copper-cobalt deposit. The department also committed to work in good faith to help facilitate financing for construction of the proposed 211-mile Ambler Road in coordination with the State of Alaska and the Alaska Industrial Development and Export Authority.

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About Trilogy Metals

Trilogy Metals Inc. is a metal exploration and development company holding 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 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 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 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.

NOTE TO INVESTORS: The latest news and updates relating to TMQ are available in the company’s newsroom at https://ibn.fm/TMQ

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