Triumph Gold Announces Additional Subscription Funds Received

Not for distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, British Columbia, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (the “Company”) announces that it is correcting its private placement completed in July 2020 to include an additional $137,000 in proceeds from subscriptions for 685,000 units (“Units”). Including the additional subscriptions, the total of the private placements announced July 17 and July 24 is 32,283,000 Units for proceeds of $6,747,000. Each Unit was comprised of one common share and one warrant of the Company. Each warrant is exercisable into one common share of the Company at an exercise price of $0.30 per share for a period of three years.

Proceeds are being used primarily for the Company’s exploration activities and for general working capital purposes. The additional securities issued are subject to a hold period of four months in accordance with applicable stock exchange requirements.

About Triumph Gold Corp.

Triumph Gold Corp. is a growth oriented Canadian-based gold exploration and development company with a district scale land package in mining friendly Yukon. The Company’s flagship Freegold Mountain project is located in the Dawson Range and is host to three NI 43-101 Mineral Deposits and covers an extensive section of the Big Creek Fault zone, a structure 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 creating value through the advancement of its strategic “gold first” exploration program. For more information, please visit our website www.triumphgoldcorp.com.

On behalf of the Board of Directors

Signed “John Anderson”
John Anderson, Executive Chairman

Mars Investor Relations
(416) 275-9160
tig@marsinvestorrelations.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such 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. 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.