Trifecta Gold Ltd. Samples 37.2 g/t Gold Ahead of Drilling at Yuge Gold Project, Nevada

VANCOUVER, January 7, 2021 - Trifecta Gold Ltd. (TSX-V:TG) ("Trifecta" or the "Company") is pleased to report high grade assay results from newly identified structures at its road accessible Yuge Gold Project ("Yuge" or the "Property"), located in northern Nevada.

As announced on December 15, 2020, a new zone of shear-hosted gold mineralization was discovered at Yuge while constructing a drill road from the Juanita Mine to the Josie Zone. Selected samples from this zone and other structures on the property were sent for rush assay and returned very positive results including:

• 11.9 g/t gold over 1 metre (chip sample) from the Juanita to Josie access road;
• 37.2 g/t gold (grab sample) from a hand trench in the Josie Zone; and,
• 7.8 g/t gold (composite grab sample) 100 m northeast of the Columbia Mine.

Seven of the twenty-one rock samples collected in December were sent for rush analysis. Of the seven samples, four returned gold values greater than 5 g/t. A chip sample collected across shear-hosted oxide mineralization, which was exposed along the new road cut, returned 11.9 g/t gold over 1 metre (estimated true width 0.60 m). Oxide mineralization exposed elsewhere along the road was chip sampled, and the results of these samples are pending. At the northern part of the Josie Zone, shallow hand trenching directed along strike of a sub-vertical, oxidized and brecciated shear, returned 37.2 g/t gold. This shear is exposed in a historical pit 70 m to the north, where it is approximately 35 cm wide and yielded an assay of 45.2 g/t gold in 2018. Historical and 2020 rock sample locations, including the locations of samples with results still pending, are illustrated on the attached figure.

A reverse circulation drill program is scheduled to start next week. This program is designed to confirm the presence of high grade shear-hosted gold mineralization below and between the Columbia and Juanita Mines, and to evaluate potential for bulk mineable oxide gold mineralization at the Josie Zone.

About Yuge

The Property is located in Humboldt County, approximately 55 kilometres south of Denio in the Varyville Mining District. Yuge is road accessible and covers the Columbia and Juanita Mines, which produced on a small scale between 1870 and 1937, as well as the Josie Zone, where Trifecta has confirmed the presence of multiple gold bearing structures through surface sampling. Gold on the property occurs with sulphides (arsenopyrite and pyrite) or their weathered products (scorodite and iron oxides) in mesothermal quartz veins and adjacent wall rock. Documented run-of-mine sorted ore assayed greater than 34 g/t Au and reported sampling of a crown pillar returned 2.4 m @ 16.8 g/t Au including 0.6 m @ 50.7 g/t Au. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t Au. A historical drill hole, completed by Homestake Mining Company and directed underneath the Columbia workings, cut sulphide mineralization at 49 m depth that returned 3.3 m @ 9.70 g/t Au.

Historical data cited in this press release is based on reports by Homestake Mining Company, Westamerica Enterprises and Extension Energy Inc. This data has not been independently verified by Trifecta but has been checked for internal consistency and against Nevada Bureau of Mines and U.S. Bureau of Mines public domain data. Technical information in this news release has been approved by Jackson Morton, P.Geo., a geologist with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.

About Trifecta Gold Ltd.

Trifecta is a Canadian precious metal exploration company dedicated to increasing shareholder value through the acquisition and advancement of attractive exploration projects in Canada and other mining-friendly jurisdictions.

ON BEHALF OF THE BOARD

"Richard Drechsler"
President and CEO

For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:

Corporate Information

Trifecta Gold Ltd.
Richard Drechsler
President and CEO
Tel: (604) 687-2522 ext. 262

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Neither the 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.

SOURCE: Trifecta Gold Ltd.