First Gold Delivery under i-80 Gold Offtake

Trident Royalties Plc (AIM:TRR), the diversified mining royalty and streaming company, is pleased to announce that it has received its inaugural shipment under the gold offtake (the “Offtake”) with i-80 Gold Corporation (“i-80”). Trident now holds 12 cash generating assets, in addition to its attractive portfolio of advanced stage assets.

The Offtake arises from production at i-80’s Ruby Hill, Granite Creek, and McCoy-Cove projects, all of which are located in Nevada, USA. This offtake was acquired as part of a broader portfolio acquisition originally announced on 13 December 2021. This represents an important milestone for i-80 in its strategy to become a premier Nevada-focused gold producer, with this initial shipment representing the first gold sale in the company’s history.

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

“We congratulate i-80 on this milestone first gold delivery from Ruby Hill, a meaningful step towards their becoming a premier gold producer in Nevada, the jurisdiction which accounts for over 75% of total US gold production and is recognised as one of the most mining-investment friendly regions in the world. First gold at Ruby Hill further delivers on the growth trajectory expected of the gold offtakes with additional near-term growth expected from the commencement of production this year at i-80’s Granite Creek project and Equinox Gold’s Santa Luz project, as well as continued ramp-up of production at Blyvoor Gold.

Since listing in June 2020, Trident has compiled a robust portfolio of assets providing significant current and near-term organic growth. Future revenue growth is underpinned by our exciting Tier 1 lithium exposure at Thacker Pass and Sonora, as well as a portfolio of high-quality development assets including our West Australian gold assets in Lake Rebecca and Warrawoona. Alongside our existing portfolio, we have an excellent pipeline of potential transactions across a range of commodities and look forward to providing further updates as progress continues.”

HIGHLIGHTS

• First gold delivery achieved from processing of stockpiled material from Ruby Hill, coupled with ongoing gold extraction from the existing heap leach pad.
• Matthew Gollat, Executive Vice-President at i-80 noted “After less than a year in existence we have produced our first gold from ongoing residual leach projects while we continue to execute the development of several projects within our portfolio as planned, with the goal of becoming a significant operator in the State of Nevada.”
• Development programme in place with the ultimate aim of initiating underground mining at Ruby Hill, including a 20,000+ metre resource update drill programme currently underway, the initial decline permitting work, and a Preliminary Economic Assessment or Pre-Feasibility Study expected by year-end 2022.

News in full

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