Triumph Gold Identifies Gold Mineralization at the Big Creek South Fault Zone with 300 metre Step-out from the Nucleus Deposit, Yukon

VANCOUVER, May 04, 2022 - Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF | Frankfurt: 8N61) ("Triumph Gold" or "the Company") announces the results of 2021 exploration work at the Freegold Mountain Property in the Yukon, highlighting results from N21-05, N21-06, and N21-07 from the Big Creek South Fault Zone and the Nucleus Deposit (Figure 1).

6,615 m of diamond drilling was completed at the Freegold Mountain Property. Drilling was conducted around the Blue Sky and WAu zones at the Revenue Deposit and at the Nucleus Deposit. Additional step-out drilling tested the Big Creek South Fault and Orbit zones.

Every hole reported to date from the 2021 exploration program intersected anomalous gold, silver, and copper (5 at Nucleus and 7 at Revenue). Results demonstrate a broad mineralized system with zones of bulk tonnage mineralization, containing oxide, transition, and sulphide mineralization. Significant drill intercepts reported to date are summarized in Table 1 and significant intercepts reported in this release are highlighted in grey. N21-05 and N21-07 returned oxide gold mineralization with excellent cyanide ("CN") assay recoveries (Table 3).

Highlights:

N21-05 (300 metre-step out from Nucleus)

• 0.80 g/t oxide Au over 2.00 metres from 47.00 metres (Figure 2)
• 0.67 g/t Au over 1.5 metres from a depth of 190.5 metres

N21-06 (300 metre-step out from Nucleus)

• 0.62 g/t Au over 1.35 metres from a depth of 240.00 metres
• 0.53 g/t Au over 6.67 metres from a depth of 276.38 metres, including 2.01 g/t Au over 1.32 metres (Figure 3)

N21-07

• 1.21 g/t oxide Au over 1.58 metres from a depth of 35.00 metres (Figure 4)
• 0.55 g/t oxide Au over 1.50 metres from a depth of 47.00 metres
• 0.28 g/t Au over 10.12 metres from a depth of 59.38 metres, including 0.96 g/t Au over 1.37 metres
• 0.50 g/t Au over 1.9 metres from a depth of 75.00 metres
• 1.97 g/t oxide Au over 1 metre from a depth of 81.00 metres
• 0.53 g/t Au over 10 metres from a depth of 229.00 metres including 3.49 g/t Au over 1.07 metres (Figure 5)

Table 1. 2021 Drilling Highlights

¹ Refer to the Reference and Disclosure section below for compositing techniques and AuEq calculations. Newly released significant intervals are highlighted in grey. CN Recovery = Fire Assay Gold / Cyanide Gold * 100%.

Figure 1. Plan Map of 2021 Drilling. Holes Presented in this PR highlighted

Detailed Interpretation and Geology (N21-05, N21-06, N21-07)

General

• Lithology: primarily metasediments (Yukon Tanana Terrane) with local quartz feldspar porphyry and leucogranite dykes
• Local epithermal vein-controlled mineralization and local sulphide replacement
• Testing magnetic low signatures
  

N21-05

• Drilled towards Big Creek South Fault Zone
• 300 metre step-out from Nucleus Deposit
• Oxidation to 64 metres
• Targeting epithermal magnetic low and multi-element geochemical signatures

N21-06

• Drilled from same pad location as N21-05
• Oxidation to 30.55 metres
• Targeting a southern extension of the Nucleus deposit testing for epithermal and skarn replacement mineralization
  

N21-07

• Drilled on northwest margin of Nucleus Deposit
• Oxidation to 170.38 metres
• Targeting Nucleus northwest deposit extension; testing gold mineralization continuity near the proposed open pit
  

Table 2. 2021 Drill Hole Summary (Coordinates in UTM NAD 83 Zone 8N) - N21-05, 06, 07

Table 3. 2021 Oxide Au Intervals with CN Recovery (N21-05, N21-06, N21-07)

Figure 2. N21-05 Oxide Zone. Interval from 47.00 to 49.00 metres assayed 0.80 g/t.

Figure 3. N21-06 Sulphide Zone. Interval from 276.38 to 277.90 metres assayed 2.01 g/t Au.

Figure 4. N21-07 Oxide Zone. Interval from 35.00 to 36.58 metres assayed 1.21 g/t Au.

Figure 5. N21-07 Sulphide Zone. Interval from 229.00 to 239.00 metres assayed 0.53 g/t Au, including 3.49 g/t Au from 232.00 to 233.00 metres.

References and Disclosures

¹ Gold equivalent [AuEq] is used for illustrative purposes, to express the combined value of gold, silver, and copper as a percentage of gold. No allowances have been made for recovery losses that would occur in a mining scenario.

Nucleus/Big Creek South

AuEq is calculated using US$1,750.00 per troy ounce of gold, US$24.00 per troy ounce of silver, and US$4.00 per pound of copper.

AuEq = Au g/t + (Ag g/t X $24.00 / $1750.00) + (Cu% X $4.00 X 22.0462) / ($1750.00 / 31.10)

Revenue

AuEq is calculated using US$1,750.00 per troy ounce of gold, US$24.00 per troy ounce of silver, US$4.00 per pound of copper and US$15.00 per pound of molybdenum:

AuEq = Au g/t + (Ag g/t X $24.00 / $1750.00) + (Cu% X $4.00 X 22.0462) / ($1750.00 / 31.10) + (Mo% X $15.00 X 22.0462) / ($1750.00 / 31.10)

Reported assays are uncut weighted averages and represent drilled core lengths. The true width of reported mineralization is unknown.

Sample Preparation and QAQC

Diamond drill holes at the Freegold Mountain Project are drilled using HTW and NTW core sizes (70.92 millimetres and 56.00 millimetres diameter respectively). Sample preparation is completed at ALS Whitehorse with sample pulps shipped to ALS Vancouver for analyses. Samples are dried and crushed to 70% less than 2 millimetres with a 250-gram riffle-split and pulverized to better than 85% passing 75 microns (PREP-31).

A 50-gram sample from the pulp is analyzed for gold using fire assay techniques and atomic absorption spectroscopy with detection limits of 0.005-10 parts per million ("ppm") (Au-AA24). Gold overlimit values are re-analyzed using a gravimetric finish with an upper detection limit of 10,000 ppm (Au-GRA22). A 0.25 gram sample from the pulp is analyzed with multi-element geochemistry (ME-ICP61) using a 4-acid near total digestion and induced coupled plasma atomic emission spectroscopy (ICP-AES) providing 33 elements.

Sample Quality Assurance/Quality Control ("QAQC") measures include unmarked certified reference materials (CRMs), rock blanks, and field duplicates are inserted into the sample sequence and make up 5% of the samples submitted to the lab for holes reported in this release. Additional QAQC checks are ongoing in accordance with 43-101 standards.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Triumph Gold's President, Brian May, P.Geo., a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, and the underlying technical information in this news release.

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 in the Dawson Range Au-Cu Belt is host to three NI 43-101 Mineral Deposits (Nucleus, Revenue, and Tinta Hill). The Project is 200 square kilometres and 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.

Led by an experienced management and technical team, Triumph Gold is focused on actively advancing the Freegold Mountain Project using multidiscipline exploration and evaluation techniques.

The Company owns 100% of the Big Creek and Tad/Toro gold-silver-copper properties situated along strike of the Freegold Mountain Project within the Dawson Range.

The Company also owns 100% of the Andalusite Peak copper-gold property, situated 36 km southeast of Dease Lake within the Stikine Range in British Columbia.

Triumph Gold acknowledges the traditional territories of the Little Salmon Carmacks First Nation and Selkirk First Nation on which the Company's Yukon mineral exploration projects are located. Triumph Gold has a long standing, ongoing, engagement with these First Nations through communication, environmental stewardship, and local employment.

For more information, please visit triumphgoldcorp.com.

On behalf of the Board of Directors

Signed "John Anderson"

John Anderson, Executive Chairman

For further information about Triumph Gold please contact:

John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604) 507-3377
nancy@irprocommunications.com

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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