Trifecta Gold's Maiden Drill Program Hits Gold at All Three Targets on Its Yuge Project, Nevada

VANCOUVER, April 19, 2021 - Trifecta Gold Ltd. (TSXV:TG) ("Trifecta" or the "Company") is pleased to announce the final results from its 2021 reverse-circulation ("RC") drill program at the Company's road accessible Yuge Gold Project ("Yuge" or the "Property") located in northern Nevada. Trifecta's maiden drill campaign at Yuge consisted of seven RC drill holes, three of which were drilled at the Columbia target, two at the Juanita target and two at the Josie target.

Highlights include:

• 2.27 g/t gold over 38.1 m from hole YU-21-02 at Columbia (previously released);
• 0.99 g/t gold over 30.48 m (including 3.4 g/t gold over 6.1 m) from hole YU-21-07 at Juanita;
• 0.61 g/t gold over 9.14 m (including 2.48 g/t gold over 1.52 m) from hole YU-21-05 at Josie; and,
• 0.53 g/t gold over 6.1 m from surface in hole YU-21-04 at Josie.

"Our maiden drill program at Yuge successfully intersected broad zones of gold mineralization at each of our three targets," states Richard Drechsler, President and CEO. "We are very pleased with these results and are now confident that bulk tonnage and high grade vein potential exists over the entire property. The limited surface work conducted by our technical team has been successful in defining gold mineralization in structures parallel to and along strike from our drilled targets."

Columbia target
At the Columbia target, hole YU-21-02 (announced March 18, 2021) intersected two zones of gold mineralization associated with arsenopyrite and quartz veining within a broader interval that averaged 2.27 g/t gold over 38.1 m. This hole was 100 m from the only known historical drill holes on the property, which reportedly graded 9.60 g/t gold over 3.30 m (DDH C2) and 5.14 g/t gold over 2.13 m (DDH C3).

Juanita target
At the Juanita target, located 1.1 km northwest of Columbia, hole YU-21-07 intersected 30.48 m grading 0.99 g/t gold, including 6.1 m of 3.44 g/t gold, starting 60.96 m downhole (Figure 1). Mineralization appears to be hosted in a wide shear zone within the andesite. Hole YU-21-06 was drilled 100 m to the southeast of hole 07 and does not appear to have hit the target structure. Previously reported chip samples (announced January 7, 2021), collected along a road cut 125 m west of YU-21-07, returned assays of 11.9 g/t gold over 1 m, while a grab sample from a new surface showing (announced March 18, 2021), located 325 m to the northwest, graded 57.7 g/t gold. In conjunction with sampling, geological mapping has identified mineralized structures with a range of orientations. A geological re-interpretation by Trifecta suggests that the 2021 drilling was performed obliquely to the principal orientation at Juanita.

Josie target
Mineralization encountered at the Josie target occurs in discrete veins as well as disseminated within medium grained diorite dykes. Josie is located 100 to 180 m higher in elevation than Columbia and Juanita and all of the mineralization discovered on surface and in drill holes appears to be strongly oxidized.

Holes YU-21-04 and -05 were drilled in opposite directions from the same site at the Josie target. Hole YU-21-04 cut 6.1 m of 0.53 g/t gold from surface, while hole YU-21-05 hit 9.14 m of 0.61 g/t gold, starting 25.91 m downhole (Figure 2). A historical adit was discovered while attempting to build another drill site at Josie, which could not be completed due to time constraints. A chip sample from mineralization in the adit graded 7.78 g/t gold over 30 cm, while surface rock samples collected along strike of the adit graded 13.1 g/t gold, 6.03 g/t gold and 7.39 g/t gold. The adit discovery and other parallel structures were not tested by either of the drill holes. Surface samples grading in excess of 10 g/t gold have been collected over a 550 m strike length at Josie.

The Company has initiated preliminary cyanide solubility testing on the material from each target.

Significant assays (weighted averages) from the 2021 drill program:

*previously released

Trifecta recently expanded the Yuge claim block which now covers 5 km of prospective strike length. The Company is permitting a follow-up program that will consist of detailed prospecting, soil sampling and mechanized trenching to better determine the geometry and structural controls of the various types of gold mineralization. This will be followed by additional RC drilling to further delineate the shallow, disseminated mineralization as well as the high-grade and structurally controlled mineralization.

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 target, 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 gold and reported sampling of a crown pillar returned 16.8 g/t gold over 2.4 m, including 50.7 g/t gold over 0.6 m. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t gold. Historical mining only extended down to the bottom of the oxidized zone. A historical drill hole, completed by Homestake Mining Company and directed underneath the Columbia workings, cut sulphide mineralization at 49 m depth that returned 9.70 g/t gold over 3.3 m.

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.

QA/QC
All analyses of the RC samples from the 2021 program were performed by ALS Minerals in North Vancouver. Samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA24) and 48 elements by inductively coupled plasma atomic emission spectroscopy and inductively coupled plasma mass spectrometry (ME-MS61). Over limit values for gold determined by the routine methods were re-analyzed using the Au-GRA22 method which involves fire assay preparation using a 50 gram charge and a gravimetric finish.

Rigorous procedures were in place regarding sample collection, chain of custody and data entry. Certified assay standards and blanks were routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QAQC screening.

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.