Lincoln Gold Mine First Pour

Trident Royalties Plc (AIM:TRR), the growth-focused diversified mining royalty and streaming company, is pleased to note that it has been advised by the management of Seduli Sutter Operations Corporation (“Seduli”) that first gold was successfully poured in late February following significant commissioning and pre-production activities at the Lincoln Gold Mine (“Lincoln” or the “Project”).

As announced on 31 August 2021, Trident acquired a Net Smelter Return (“NSR”) royalty (the “Royalty”) over production from the Lincoln Gold Mine, located in California, USA. Seduli is currently completing commissioning activities to support the restart of Stage 1 production at the Lincoln underground gold mine targeting 220 tonnes-per-day, with the aim of producing approximately 20,000 ounces of gold per year. The Project is permitted for Stage 2 production of up to 1,000 tonnes-per-day (approximately 80,000oz gold per year) 1.

HIGHLIGHTS

• First gold pour achieved from stockpiled material at Lincoln as plant commissioning nears completion
• Pre-production and commissioning activities are now largely completed with management now focused on stabilising the operation and achieving continuous running
• Recruitment, onboarding and training of requisite site management and operating staff largely completed following minor delays associated with the emergence of the Omicron variant of COVID-19
• Preparations for the mining of the first stope are well advanced and will commence to ensure seamless transition from processing of the existing 6,000 tonne stockpile
• The commencement of operations at the Lincoln Mine has been well received by the local community, with broad support for the mine in Amador County
• With the commencement of production at Lincoln, Trident now holds a total of 10 cash flowing assets

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

“We are pleased to note the successful completion of the first gold pour at the Lincoln Gold Mine. This represents the culmination of significant efforts by Seduli’s owners, management and operational staff over the last two years. It also validates Trident’s view of the underlying asset, management team and overall attractiveness of the Project.

First gold represents the beginning of Seduli’s journey as it seeks to expand the Lincoln Project into a successful, mid-size gold project situated in one of the most prolific gold producing regions globally. Lincoln represents an important milestone in Trident’s journey to meaningful cashflow generation, and we look forward to providing further updates as the Project advances.”

Toby Davis, Chief Executive Officer of Seduli commented:

“Seduli has been working on completing the processing plant since October 2021 with the support of our investors and financing partners Trident Royalties plc, and Transamine Trading SA. The rapid timeline to production, especially during a time of COVID-19 related challenges in sourcing supplies is a testimony to the dedication, ingenuity, and persistent hard work of the whole team at the mine. It’s been a job well done. We are looking forward to seeing what this orebody will produce. The early signs are promising.”

News in full

CEO Adam Davidson provides an overview of the business and its strategy below (Filmed May 2021)