Trillium Gold Reports 8.75 g/t Au over 20.4 metres including 549.0 g/t Au over 0.3 metres and Discovers New Deep Mineralization Outside Newman Todd Zone

• NT22-211 intersects 40.56 g/t Au over 4.18 metres including 136.0 g/t Au over 1.08 metres;
• NT22-212 intersects multiple zones of high-grade mineralization including:
  • 8.75 g/t Au over 20.4 metres @ including 549.0 g/t Au over 0.3 metres
  • 90.38 g/t Au over 1.01 metres
  • 17.2 g/t Au over 1.09 metres
  • 1.59 g/t Au over 61.05 metres;
• New high-grade gold zone discovered between Camp and Main Zone Faults along with a new area in the hanging wall of the NT Zone.

VANCOUVER, British Columbia, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV:TGM, OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to provide an update on the latest results from the Company’s first half 2022 exploration and drilling activities at the Newman Todd Complex in Red Lake, Ontario.

The two drill holes (NT22-211 and 212) were designed to test the southward-trending and deeper extensions of the Main Zone Fault-associated mineralization about 100 metres to 250 metres below all previous drill holes, situated in a gap in the drilled portion of the NT Zone. Both holes considerably expand the depth of mineralization down to almost 600 metres in this area. Figures 1 and 2 show these drill holes in plan and long section.

Russell Starr, President & CEO of Trillium Gold stated, “These exceptional results indicate the potential for an appreciable increase in the Newman Todd resource, and strongly support our thesis regarding the structural controls that determine high-grade occurrences within the NT Zone. These occurrences trend southeast of the NT Zone into the hanging wall sequence. Historically, Newman Todd has not been meaningfully drilled below 400 metres depth, and we are now seeing real high-grade potential with the east-west structures holding the key to discovering new gold mineralization outside of the known NT Zone.”

Gold mineralization was also intersected in the hanging wall rock units past the NT Zone contact and Main Zone Fault, with visible gold¹ (VG) logged in a 2mm quartz vein at 614.2m of NT22-212 (549 g/t Au over 0.3m), within a banded chert and iron formation section of the hanging wall sequence. This hanging wall gold occurrence, within the broader significant interval of 8.75 g/t Au over 20.4 metres, as well as other historical hanging wall intercepts indicate that gold mineralization associated with the NT Zone and associated east-west shears (eg. Main Zone Fault), continues into the hanging wall rock units southeast of the NT zone, thus expanding the possible drill target areas and potential mining pit shell within the project area. The historical drilling in this region generally stopped prior to intersecting this mineralization when drilled from the foot wall. Very little drilling in the opposite direction was carried out overall, leaving this mineralization undiscovered.

William Paterson, Trillium Gold’s Vice President of Exploration added, “These results are the most significant received to date at this depth at Newman Todd and signal the potential for additional resources associated with intersections between the bonanza-grade Rivard veining and east-west structures. Our more meaningful high-grade intersections previously reported - holes NT20-169 [7.05m at 15.41 g/t Au including 4.3m at 23.88 g/t Au and 1.12m at 69.85 g/t Au], and NT21-194 [9m at 19.73g/t Au including 1.55m at 102.16 g/t Au] on the Camp Fault, and now holes NT22-211 and -212 on the Main Zone Fault, have all occurred at these intersections and we believe we will be able to apply this established theory successfully at depth, which remains completely open.” [See Trillium Gold’s news releases at www.trilliumgold.com or its filings on www.sedar.com]

Table 1: Highlights of significant intercepts from holes NT22-211 and -212. A full listing of the significant intercepts can be found on Trillium Gold’s website (www.trilliumgold.com).

Table 2: Drill collar details for drill holes NT22-211 and -212 - UTM zone 15, NAD 83.

Figure 1: Geology plan showing the location of drillholes NT22-211 & 212 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a83ce896-1d10-47a5-97b3-044f9f486123

Figure 2: Long Section view (looking northwest) showing NT Zone model, exploration block model, historical results, and highlights of the significant intersections from NT22-211 & 212 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c379a4c4-4ce5-42f0-b73f-1c946270105a

Since January 2022, a total of 17 drill holes in 7,665 metres have been drilled at the Newman Todd Complex. The remaining assay results will be released once all the results have been interpreted and the broader structural framework can be quantified.

All drilling was supervised by Paul Barc, PGeo. The drilling was conducted by Rodren Drilling Ltd., of West St. Paul, Manitoba. Drill core was logged and sampled in a secure core facility on site. Core samples from the program were cut in half, using a diamond cutting saw, and half cores were sent for analysis to Activation Laboratories Ltd. in Dryden, ON, an accredited mineral analysis laboratory. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Any samples with results greater than one ounce per ton gold were also analyzed with a standard 1 kg metallic screen fire assay, unless the remaining sample material was insufficient. Certified gold reference standards, blanks and duplicates are routinely inserted into the sample stream, as part of Trillium Gold’s quality control/quality assurance program (QAQC) to monitor accuracy and precision. No QAQC issues were noted with the results reported herein. All drill intercepts reported are down-hole core lengths, which do not necessarily represent true widths.

¹⁾ Visible gold (VG) references are factual observations and should not be construed as quantifiable grade.

The technical information presented in this news release has been reviewed and approved by William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines, as defined by NI 43-101.

On behalf of the Board of Directors,
Trillium Gold Mines Inc.

Russell Starr
Director, President & CEO

For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com.

Visit our website at www.trilliumgold.com.

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The Company recently closed acquisitions effectively extending its contiguous land position over more than 100 km of favourable structures on trend with Kinross Gold’s Great Bear Project and Evolution Mining’s Red Lake Operation. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary note regarding forward-looking statements

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.

Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.