Royalty Portfolio Update: Lake Rebecca Gold Project Resource Upgrade

Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused mining royalty and streaming company, is pleased to note the announcement1 by Apollo Consolidated (“Apollo”) regarding a significant increase in Indicated Mineral Resources at the Lake Rebecca Gold Project (“Lake Rebecca” or the “Project”), in Western Australia. Trident holds a 1.5% NSR gold royalty2 (the “Lake Rebecca Gold Royalty” or the “Royalty”) over the entirety of the Project.

Apollo has issued a JORC (2012) compliant Mineral Resource Estimate (“MRE”) update (dated 20 April 2021) that builds on the maiden JORC (2012) MRE3 announced by Apollo on 10th February 2020, providing a 50% increase in Indicated Mineral Resources to 815,000 ounces gold to a combined optimised and pit-constrained 1.105 Moz gold Mineral Resource. Resource drilling is still ongoing with future MRE increases expected.

Adam Davidson, Chief Executive Officer and Executive Director of Trident commented:

“We are delighted to highlight Apollo’s announcement of a significant Mineral Resource upgrade for the Lake Rebecca Gold Project, over which Trident holds a 1.5% Net Smelter Royalty.

“As we reported on 14 January 2021, since completing the royalty acquisition on 29 October 2020, Apollo had announced some very encouraging infill and exploratory drilling results. These have provided the basis for the project’s first Mineral Resource Estimate update resulting in the total contained gold ounces increasing to 1.105Moz and, importantly, increasing the total Resource in the Indicated category to 815,000 oz. The increase to the Indicated category provides the basis for a potential +8-year mine life operation, with associated requisite approvals, licensing and study work being undertaken alongside additional high-priority exploration over the coming months. With A$37.1M1 in cash and receivables on hand, Apollo remains well funded to aggressively advance Lake Rebecca.

“We look forward to following developments at the project as the resource and exploration drilling continues and technical studies ramp-up.”

CEO Adam Davidson provides an overview of the business and its strategy below