Triumph Gold Announces Start of 2021 Exploration Program at the Freegold Mountain Project, Yukon

VANCOUVER, June 29, 2021 - Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF) ("Triumph Gold" or "the Company") is excited to announce the commencement of the 2021 Exploration Program ("The Program") at the Freegold Mountain Project, located in the prolific Dawson Range Copper-Gold District of mining-friendly Yukon (Figure 1). The first diamond drill and field crews mobilized to site on June 15th, initiating Phase I of the Program.

Phase I consists of 8,000 metres of diamond drilling, 100 line-kilometres of ground geophysical surveying, 35 line-kilometres of soil sampling, and surface trenching. The Program intends to add new inferred resources and upgrade inferred resources to indicated resources at the Nucleus and Revenue Deposits, as well as discover and develop zones of mineralization at prospects outside the deposit areas.

2021 Exploration Program Overview (Phase I):

• Approximately 3,000 metres of diamond drilling at the Revenue Deposit testing lateral extents of the WAu Porphyry Zone (open to depth as described in PR19-16) and the near-surface expression of the Blue Sky Porphyry Zone, first discovered in 2018 (PR18-09).
• Approximately 3,000 metres of diamond drilling at the Nucleus Deposit testing newly modelled shallow-dipping mineralized strata at structural breaks. Drilling will also test and further define indicated oxide gold zones through cyanide leach analysis.
• Approximately 1,500 metres of inaugural drilling at the Melissa Zone, defined around an undrilled 1.5 kilometre-long, multi-element geochemical anomaly and coincident chargeability and resistivity anomaly within Yukon-Tanana Terrane, host rock to the Nucleus Deposit.
• Approximately 500 metres of step-out drilling in the Irene-Goldstar Corridor testing multi-element and geophysical anomalies and the down-dip extension of the Goldstar Vein based on positive results of the 2020 drill campaign near the Red Fox/Vindicator Zone (PR 21-01).
• Over 100 line-kilometers of ground magnetic geophysical surveying over the Irene-Goldstar Corridor, Stoddart, Cabin, and Melissa Zones.
• Approximately 6 line-kilometers of HLEM geophysical surveying over northwest-trending vein-style mineralization along strike of the Tinta Hill Deposit.

Jesse Halle, Vice President of Exploration for Triumph Gold comments, "Through a focused review and rebuild of the Freegold Mountain Project 3D model, the technical team has digested the entire dataroom and designed a comprehensive, multi-tiered exploration program - a process that has already added significant value to the Project and will be instrumental in achieving Triumph's strategic goals."

Figure 1 - https://www.globenewswire.com/NewsRoom/AttachmentNg/ed9dcffc-018e-474c-9040-cffc42c0b0ec

Revenue Deposit

The Revenue Deposit is a Au-Cu-Ag-Mo-W porphyry system centered around an east-trending ovoid diatreme intrusive breccia body separating two distinct phases of Whitehorse Suite granodiorite. Zones of gold-rich porphyry copper style mineralization have been identified in numerous locations around the breccia, notably the southern and eastern contacts, where the Blue Sky and WAu Breccia Zones were discovered in 2017 and 2018, respectively.

Nucleus Deposit

The Nucleus Deposit is a Au-Ag-Cu epithermal skarn system within strata of the Yukon-Tanana terrane and various plutonic bodies. These units are crosscut by east-trending dike swarms. Intrusive lithologies are largely granitic to granodioritic in composition. Mineralization is hosted within polyphase quartz-chalcopyrite-pyrite-arsenopyrite veins, infill breccia, and semi-massive to massive sulphide lenses associated with multiple phases of skarn and epithermal gold mineralization.

Melissa Zone

The Melissa Zone lies at the core of a broad, 1.5 kilometre by 800 metre northwest-trending zone of anomalous gold-silver-arsenic +/- copper-lead-zinc soil geochemistry bordering the Irene Zone. It is hosted in metasedimentary schists of the Yukon Tanana Terrane (host to the Nucleus Deposit) and quartz-feldspar porphyry dikes. Historic soil samples have returned values up to 885 ppb gold and 1,400 ppm arsenic. Historic trench grab samples from the Melissa Zone have returned values up to 5.67 g/t gold and 52.8 g/t silver (Sample ID M012769).

Irene-Goldstar Corridor

The Irene-Goldstar Corridor is located within a 3.7-kilometre long northwest-trending Au-Ag skarn and epithermal system with gold and base metal enrichment. The dominant host lithologies are strata of the Yukon Tanana Terrane intruded by plutonic bodies and/or dike swarms. Historic grab samples from the Vindicator Zone have assayed up to 93.8 g/t gold and 1,108 g/t silver (PR 20-03) and the 2020 program extended known mineralization along strike and to depth (PR21-01).

Tinta Hill Deposit

The Tinta Hill Deposit consists of sub-parallel polymetallic Au-Ag-Cu-Pb-Zn veins hosted within Long Lake Suite plutonic rocks. Vein segments have been mapped for more than 3,500 metres along strike, with true thickness between 0.9 metres to 1.6 metres. Mineralization is dominated by northwest‐trending, sub‐vertical quartz ? carbonate ‐ sulphide veins containing pyrite, chalcopyrite, galena, and sphalerite.

COVID-19 Response

Triumph Gold is committed to the health and safety of its employees and contractors. With recommendations from the Yukon Government and Yukon Chamber of Mines, the Company has developed and implemented infection prevention and control measures at the Freegold Mountain Project to help mitigate the risk of potential COVID-19 transmission in the camp and related work sites. During the 2021 field campaign, employees, contractors, and visitors will be regularly monitored for symptoms and required to review and adhere to current federal and territorial regulations, as well as company prevention policies outlined in Triumph Gold Corp. COVID-19 Operational Plans while on site. Should anyone on site have COVID-19, or symptoms of COVID-19, all employees will be required to follow the Triumph Gold Corp. COVID-19 Emergency Response Plan. As of June 23, 2021, there have been 224 confirmed cases of COVID-19 in Yukon (122 of which have been resolved by full recovery) and 57,716 total doses of vaccines administered. Please visit https://yukon.ca/en/case-counts-covid-19 for up to date COVID-19 data and guidelines for Yukon residents and business operators.

Qualified Person

The technical content of this news release has been reviewed and approved by Jesse Halle, P.Geo., Vice President of Exploration for the company and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold Corp. is a Canadian based, growth-oriented exploration and development company with a district scale land package in mining friendly Yukon. The Company's 100% owned, road accessible, flagship Freegold Mountain Project is located in the Dawson Range Copper-Gold Belt and is host to three NI 43-101 Mineral Deposits (Nucleus, Revenue, and Tinta Hill; PR 20-02).

The Project covers an extensive section of the Big Creek Fault zone, a structure directly related to epithermal gold and silver mineralization as well as gold-rich porphyry copper mineralization. The Company, led by an experienced management team, is focused on actively advancing the Freegold Mountain Project using multidiscipline exploration and evaluation techniques.

The Company also owns 100% of the Big Creek and Tad/Toro copper-gold Properties, situated along strike of the Freegold Mountain Project within the Dawson Range. For more information, please visit triumphgoldcorp.com.

On behalf of the Board of Directors

Signed "John Anderson"

John Anderson, Executive Chairman and Interim CEO

Mars Investor Relations
(647) 557-6651
tig@marsinvestorrelations.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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. Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). 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.