Trillium Gold Announces Closing of C$5,000,000 Brokered Private Placement Announces New Chief Financial Officer

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, June 28, 2021 - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX: TGLDF) (FRA: 0702) ("Trillium Gold" or the "Company") is pleased to announce the completion of its previously announced brokered private placement of 5,000,000 units of the Company (the "Units") at a price of C$1.00 per Unit for gross proceeds of C$5,000,000 (the "Offering"). The Offering included the exercise of the Agents' over-allotment option. The Offering was led by Red Cloud Securities Inc. and included Eight Capital (collectively, the "Agents").

Each Unit consists of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one common share of the Company (each, a "Warrant Share") at a price of C$1.50 at any time on or before June 28, 2023.

The Company intends to use the net proceeds from the Offering to advance its Red Lake properties as well as for general working capital purposes. As consideration for their services, the Agents received a cash commission of C$243,870, an advisory fee of C$34,650 and 203,225 non-transferable broker warrants ("Broker Warrants"), each entitling the Agents to purchase one Unit at a price of C$1.00 until June 28, 2023. The Company also issued to the Agents a total of 27,500 agents' options exercisable into Units on the same terms of exercise as the Broker Warrants.

The Unit Shares and Warrant Shares will have a four month hold period expiring on October 29, 2021.

The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly, have not been offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Appointment of New Chief Financial Officer

Trillium Gold is pleased to announce that Mr. Ian M. MacNeily, CPA, CA, recently appointed as Financial Advisor, has accepted the position of Chief Financial Officer and Corporate Secretary of the Company, effective immediately. He replaces Ms. Queenie Quang, CPA, CGA of the Baron Group.

Mr. MacNeily brings more than 20 years of executive financial management and leadership experience in the mining sector. As a senior executive for a number of global mining and development companies, he has considerable experience in strategic planning, acquisitions, financial controls and reporting, capital restructuring and funding, metal trading, and implementing successful finance programs that have resulted in improved financial position and increased shareholder value. Prior mining companies where he served in a senior finance capacity include Abacus Mining Corp., North American Palladium Ltd., SRA Corporation, Desert Sun Mining, and Pangea Goldfields Inc.

Visit our website at www.trilliumgold.com.

On behalf of the Board of Directors,

Trillium Gold Mines Inc.

"Russell Starr"

Russell Starr
President, CEO and Director

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.

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.

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 expectation. 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.

SOURCE Trillium Gold Mines Inc.