This article has been disseminated on behalf of Trilogy Metals Inc. and may include paid advertising.
Trilogy Metals (NYSE American: TMQ) (TSX: TMQ) announced it has executed definitive agreements with the U.S. Department of War for the previously announced approximately $35.6 million strategic equity investment to advance exploration and development of the Upper Kobuk Mineral Projects in northwestern Alaska. Under the agreements, the department will invest approximately $17.8 million directly in Trilogy Metals and approximately $17.8 million through a transaction with joint venture partner South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY), with proceeds committed to the projects. Upon completion, the department is expected to hold approximately 10% of Trilogy Metals on a non-diluted basis. The transaction is expected to close in September 2026, subject to customary closing conditions.
To view the full press release, visit https://ibn.fm/NADNU
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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