Triumph Gold Announces Promising Drill Results from The Freegold Mountain Property, Yukon, Including 174 g/t Gold over 1 metre in the WAu Breccia

Technical Highlights Include:

• Intersection of high-grade gold mineralization in the WAu Breccia: 174 grams per tonne (g/t) gold (Au) and 43 g/t silver (Ag) over 1 metre* (m) in RVD19-06 from 391.00 – 392.00m (Table 1)
• Intersection of three porphyry related mineralized zones in RVD19-06 (Table 1) at the WAu Breccia, demonstrating continuity of two, greater than 200m deep, mineralized bodies that were first intersected earlier this year in RVD19-02:
  • Hangingwall Porphyry (80.50m* of 0.66 g/t AuEq** from 60.00 – 140.50m)
  • WAu Breccia (43.00m* of 0.98 g/t AuEq** from 391.00 – 434.00m, using a top-cut of 10 g/t Au, and 88.34m* of 0.57 g/t AuEq** from 453.00 to 541.34m)
  • Magnetite-chalcopyrite breccia in strongly potassic altered granite (36.21m* of 0.44 g/t AuEq** from 637.97 – 674.00m)
• Verifying a high grade near surface oxide and supergene zone with RVD19-07 (Table 1), which collared along the south-central contact of Revenue Diatreme (12.00m* of 2.35 g/t AuEq* from 24.00 to 36.00m), and extending the known depth of mineralization below that zone from 63.70m (historical drill hole GRS84-07) to 147.50m (124.50m* of 0.57 g/t AuEq** from 23.00 to 147.50m in RVD19-07)
• Multiple geological features indicating presence of, or proximity to, mineralized cupola(s) of a buried porphyry intrusion at both the WAu Breccia and Revenue West

Table 1:  Highlighted Results from RVD19-06 & RVD19-07

*** 10 g/t Au top-cut applied to this intersection only

Final results from the 2019 drill program on Triumph Gold’s Freegold Mountain Property include drill holes RVD19-05, RVD19-06 and RVD19-07 (Figure 1) totaling 2294.07m (Table 3). RVD19-05 and RVD19-07 were drilled near Revenue West testing for porphyry mineralization indicated by a geophysical anomaly (Big Red; see PR19-10 dated June 18, 2019). RVD19-06 was drilled at the WAu Breccia and was an addition to the planned program following successful drilling at the WAu Breccia early in the 2019 exploration season (e.g. 400m* of 1.2 g/t AuEq**, and 102m* of 1.3 g/t AuEq**). Previously released results from the 2019 drill program are reported in PR19-16 dated September 12, 2019 (WAu Breccia) and PR19-19 dated October 30, 2019 (Blue Sky Porphyry Breccia).

High-Grade Gold Mineralization in the Revenue Area

New results from RVD19-06 demonstrate that the WAu Breccia hosts discrete veins or zones of high grade gold mineralization. The core sample that yielded 174.0 g/t Au and 43.0 g/t Ag over 1 metre (Table 1) contains a 1.5 cm thick quartz-carbonate-chalcopyrite-bismuthinite-scheelite vein with significant visible gold (Figure 4A). This is a style of vein that is observed throughout the Revenue-WAu Breccia-Blue Sky area. Other high grade gold intersections at the WAu Breccia include 40.5 g/t Au and 98 g/t Ag over 1 metre* in RVD11-19 (from 376.60m), 27.2 g/t Au over 1.48 metres* in RVD18-08 (from 216.50m) and 19.4 g/t Au and 29 g/t Ag over 1 metre* in RVD19-02 (from 197.00m). Discrete high grade intercepts elsewhere in the Blue-Sky Revenue area include 48 g/t Au over 1.52 metres* in RVRC10-020 (from 82.30m), 45.0 g/t Au over 1metre* in RVD17-14 (from 129.00m), and 39.4 g/t Au over 1 metre* in RVD18-19 (from 376.60m). Most of these intersections are contained within much larger intervals of lower grade copper-gold mineralization that comprise the bulk-tonnage style porphyry targets that have been the focus of recent exploration. However, closely spaced step-out drilling to better delineate these gold-rich veins within the lower-grade bodies may be warranted in order to demonstrate continuity and potentially upgrade contained precious metals in future resource estimates.

WAu Breccia – Demonstrating Continuity of Deep Porphyry-Related Mineralization and New Intersection of Bonanza Grade Gold

The WAu Breccia is a south dipping tabular body of polymetallic mineralization that, prior to 2019, had been tested to a maximum depth of 200 metres below surface. The 2019 exploration program identified a down-dip extension of the well mineralized WAu Breccia to a depth of approximately 400m, as well as underlying magnetite-chalcopyrite breccia in strongly potassic altered granite (RVD19-02; see PR19-16 dated September 12, 2019). The latter is interpreted as a style of high-temperature mineralization that formed proximal to a causative porphyry intrusion.

RVD19-06 was designed to further test the WAu Breccia mineralization system, both near surface and to depth (Figure 1, Figure 2). It intersected three distinct mineralized domains (Table 1, Table 2): 1) near surface (from 60.00m) molybdenum-rich porphyry style mineralization in the hangingwall of the WAu Breccia, 2) WAu Breccia style mineralization (from 286m where it overprints hangingwall style mineralization) with local bonanza grade gold, and 3) chalcopyrite-magnetite breccia (from 601.75m) in moderately to strongly K-feldspar, biotite, magnetite altered granite. Evidence of proximity to a mineralized cupola and core domains of a causative porphyry intrusion include:

• Breccia with aplite matrix and juvenile aplite clasts that contain mineralized miarolitic cavities (miaroles; Figure 4B) (428 – 434m* with 0.71 g/t AuEq**);
• A deeper 88.34 metre* section (453.00 – 541.34m* of 0.57 g/t AuEq**) of breccia with magmatic (aplite/granophyre) matrix that transitions into hydrothermal matrix (quartz-sulfide to massive sulfide [e.g. 1.34m* of 10.67 g/t AuEq** from 540.00m]); and
• A domain of moderately to strongly potassic altered granite with a core of chalcopyrite-magnetite breccia (637.79 – 674.00m* of 0.44 g/t AuEq**). 

Revenue West – Gold- and Copper-Rich Supergene Mineralization, and Evidence of Proximity to a Porphyry Intrusion Cupola

Revenue West, which comprises the western margin of the Revenue Diatreme (Figure 1; approximately 1.35 km to the east of the WAu Breccia), has demonstrated near surface mineralization, observed in outcrop and in core from historical drilling. RVD19-05 and RVD19-07 were both designed to test a buried chargeability anomaly centered approximately 650 metres below surface at Revenue West. Both drill holes crossed the geophysical anomaly, encountering propylitic to potassic altered granite with approximately 1% disseminated sulfides (mostly pyrite with minor chalcopyrite). Although the drill-tested sections of the geophysical anomaly (Big Red) did not represent porphyry-related mineralization zones, both drill holes did intersect porphyry-related mineralization in other portions of the holes. In addition, observations from RVD19-07 suggest proximity to a mineralized cupola zone, similar to what has been interpreted at the WAu Breccia 700 metres to the east.

RVD19-05 intersected potassic altered granodiorite with chalcopyrite and molybdenite bearing quartz and/or biotite-magnetite veins from surface to 126.49m depth. From 126.49m to the bottom of the hole at 771.60m a continuously but weakly mineralized fault zone was intersected. Coherent fault-blocks contain evidence of proximity to a mineralized porphyry system, including mineralized stockwork veining, multiple porphyritic intrusive phases, and potassic, propylitic and phyllic altered rock.

RVD19-07 collared within the Revenue Diatreme, near its south-central contact with the surrounding Revenue Granite (Figure 1), in an area with conspicuous copper carbonate (malachite and azurite) stained regolith. It intersected strong oxide and supergene mineralization to a depth of 36.00m, followed by mixed supergene and hypogene mineralization to a depth of 147.50m (Figure 3). Previous drilling (GRD84-07) had only demonstrated mineralization to a depth of 63.70m. Also within the diatreme, lower grade copper mineralization between 165.50 and 181.00m is related to pre-mineralized clasts that had been scavenged by the diatreme (Figure 4). The clasts include:

• Quartz saturated quartz-feldspar porphyry with classic unidirectional solidification textures (UST) and clotty chalcopyrite (Figure 4C); this is a hydrothermal-magmatic texture associated with cupola zones, often related to porphyry deposits, and
• Quartz-feldspar-porphyry with narrow wavy quartz veins containing disseminated bornite and chalcopyrite (Figure 4D); these are consistent with porphyry model “A veins”. 

At 416 metres the hole penetrated through the southern margin of the diatreme into propylitic grading to potassic altered granite with magnetite-biotite veins (Figure 3). Several narrow potassic altered quartz-feldspar porphyry dykes and breccia zones yielded gold concentrations up to 2.7 g/t and copper up to 1.46% (Table 2). Strongly altered granite between 515.60 and 521.45m yielded even higher grade assays up to 11.6 g/t Au and 1.81% Cu. Triumph Gold geologists believe that the clasts in the Revenue Diatreme, as well as the discrete potassic altered and mineralized breccia and dykes in the adjacent granite are indications of proximity to the buried porphyry system. The area encompassing the south-central contact between the Revenue Diatreme and surrounding granite is a new high priority area for future exploration targeting the causative intrusion.

Table 2:  Full Table of Significant Results from RVD19-05, RVD19-06 & RVD19-07

*** 10 g/t Au top-cut applied to this intersection only

Table 3: Drill Hole Location and Orientation

Coordinates are given in North American Datum 83 (NAD83), Zone 8

Figure 1 Plan Geology Map Showing Drill Hole Locations
Figure 2 Schematic Cross-section RVD19-06
Figure 3 Schematic Cross-Section RVD19-07      
Figure 4 Core Photos
A) Visible gold in RVD19-06
B) Chalcopyrite-Pyrite-Molybdenite miaroles in RVD19-06
C) Clasts with classic unidirectional solidification texture in RVD19-07
D) Porphyry clasts with bornite bearing A-veins in RVD19-07

Notes
* Reported assays are uncut weighted averages and represent drilled core lengths. The true width of reported mineralization is unknown.
** Gold equivalent [AuEq], and copper equivalent [CuEq] are used for illustrative purposes, to express the combined value of gold, silver, molybdenum and copper as a percentage of gold or copper.  No allowances have been made for recovery losses that would occur in a mining scenario.  AuEq and CuEq are calculated on the basis of US$2.50 per pound of copper, US$12.70 per pound of molybdenum, US$1,510 per troy ounce of gold and US$17.00 per troy ounce of silver.

AuEq = ($1510.00 X Au [g/t] / 31.10 + $17.00 X Ag [g/t] / 31.10 + $2.50 X Cu [%] /100 X 2204.63 + $12.70 X Mo [%] / 100 X 2204.63) / $1510.00 X 31.10 
CuEq = ($1510.00 X Au [g/t] / 31.10 + $17.00 X Ag [g/t] / 31.10 + $2.50 X Cu [%] /100 X 2204.63 + $12.70 X Mo [%] / 100 X 2204.63) / $2.50 X 100 / 2204.63

Methods and Qualified Person
Drill core samples ranged between 1 and 2 metres length and were cut at Triumph Gold’s core logging facility on the Freegold Mountain Property. The samples were analyzed by SGS Canada of Vancouver, British Columbia. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA30V5), and samples that tested over 10 g/t Au were retested using a 50g sample and a gravimetric technique. An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40Q12), over-limit samples for copper were retested using the same technique but with ore grade four acid digestion and a higher range of detection (method GO_AAS41S100). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QAQC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks, certified reference standards and duplicates, are blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample.

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., President of the Company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company.  Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain Project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com

On behalf of the Board of Directors
Signed "Tony Barresi"
Tony Barresi, President

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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 expectations. 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.

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 Figure 1