Triumph Gold Announces Results from Inaugural Drilling of the Irene Gold Vein, Defining Mineralization over 450 Metres with Gold Grades up to 20.7 grams per tonne

VANCOUVER, British Columbia, Jan. 24, 2019 (GLOBE NEWSWIRE) — Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results from the inaugural diamond drilling of the Irene gold vein, located on Triumph Gold Corp’s 100% owned, road accessible Freegold Mountain Property, Yukon Territory. The Irene vein was drill-tested over a 450 metre strike length, with 1,369 metres drilled in 11 drill holes. Gold bearing veins were intersected in every hole.

Highlights of results include:

• Significant vein-hosted gold was intersected in all 11 holes, defining a mineralized corridor with multiple mineralized structures that are now defined over a 450 metre strike-length, and which are open in both directions along strike.
• Gold values up to 20.70 grams per tonne (g/T) over 0.70 metres** (m) (IR18-01, 67.50m – 66.20m).
• Intersections define thick mineralized envelopes:
  • 2.38 g/T gold (Au) over 6.13 metres** (IR18-08, 32.72 – 38.85m).
  • 1.15 g/T Au over 19.00 metres** (IR 18-05, 43.90 – 62.90m).
  • 2.19 g/T Au over 5.65 metres** (IR18-18-10, 47.00 – 52.65m).

• Multiple mineralized veins were intersected in individual drill holes; e.g. four veins in IR18-10:
  • 3.09 g/T Au over 2.00 metres** (43.00 – 45.00m).
  • 2.19 g/T Au over 5.65 metres** (47 – 52.65m).
  • 0.93 g/T Au over 0.95 metres** (62.05 – 63.00m).
  • 1.91 g/T Au over 2.82 metres** (69.00 – 71.82m).

Refer to Table 1 for a full list of significant intersections, Table 2 and Figure 1 for drill hole locations, and Figure 1 and 2 for the geological setting and relative locations of the Irene and Goldstar veins.

TABLE 1 Results from 2018 diamond drilling of the Irene vein, Freegold
Mountain Project.  Drill holes listed in order from northwest to southeast.

History of Discovery

The Irene vein is located on the lower northwest flank of Freegold Mountain, 2.35 kilometres along strike to the northwest of the Goldstar epithermal gold vein system, which is exposed on the top of the Mountain. Irene was first identified in 2013 when Triumph Gold was alerted by a local placer miner that a mineralized vein had been uncovered in Guder Creek during surficial gold mining operations. By 2014 the vein had been exposed via placer mining over a strike length of 140 metres. Extensive surface outcrop channel sampling yielded excellent results across the full area of exposure, including 7.11 g/T Au over 3 metres (TR13-21), 5.19 g/T Au and 66.8 g/T Ag over 1 metre (TR14-36), 19.9 g/T Au and 145.0 g/T Ag over 0.36 metres (TR14-37), and 3.47 g/T Au over 7.0 metres (TR13-018).

Geology of the Irene Vein

The 2018 inaugural diamond drill program on the Irene gold vein system tested beneath the surface exposures of the vein with drill holes spaced every 50 metres and tested for along strike extensions beyond the surface exposure with step-out holes located 100 metres to the southeast and 100 and 200 metres to the northwest. Mineralized veins were encountered in every hole to a maximum vertical depth of approximately 100 metres. The intersections define a mineralized corridor that contains multiple veins divided into two types: 1) gold dominant quartz veins and chalcedonic breccias with abundant fine arsenopyrite in multiply re-brecciated quartz, and 2) gold and silver rich massive sulfide veins, composed of pyrite, chalcopyrite, arsenopyrite and stibnite.

The Irene vein/mineralized corridor coincides with the NW-SE oriented Guder Creek, a deeply incised topographic feature that partly bisects Freegold Mountain and which contains significant placer gold. The vein is located at a fault modified contact between Yukon Tanana metamorphic rock and Middle Cretaceous Revenue granite. In drill core, faulted slivers of multiple granitoid and metamorphic lithologies were observed. The Guder Creek fault is interpreted to be a splay off of the Big Creek Fault, which is an important control on mineralization elsewhere on the Freegold Mountain Property (e.g. the Revenue-Nucleus area), and regionally (e.g. Goldcorp’s Coffee Creek deposit).

Link Between Irene Vein and the Goldstar Vein

The Goldstar vein system is located on the top of Freegold Mountain, 2.35 kilometres to the southeast and along strike of the Irene vein. It is exposed over approximately 900 metres as a series of en echelon quartz veins and vein breccia. The vein system was among the earliest exploration targets on the Freegold Mountain property and it was tested with 30 short reverse circulation and diamond drill holes in 1959, 1974, 1987 and 1991. Historical drill results are similar to results from 2018 drilling at Irene and include 11.65 g/T Au over 2.59m, 9.77 g/T Au over 2.20m, 7.95 g/T over 1.5m, 5.42 g/T Au over 3.4m and 5.6 g/T Au over 1.53m. Outcrop between the Goldstar vein on the top of Freegold Mountain and Irene near the bottom of the mountain, is buried under overburden and thick vegetation and has never been drill tested. A historical grab sample collected in 2005 from a trench located between Goldstar and Irene, 420 meters northwest of the Goldstar vein exposure, graded 425 g/T Au and 321 g/T Ag***. Historical assays have not been verified by Triumph Gold Corp.

Exploration Potential

Combined, the exposed or drill tested portions of the Irene and Goldstar veins cover 1.35 kilometres.  The veins are along strike of one another, they have similar geological characteristics, and they have consistent drill results with multi-gram gold over multi-metre intersections. The 2.35 kilometre long area between the Irene and Goldstar veins is highly prospective for a continuation of gold mineralization. Future drilling and trenching of the intervening area will test the possibility that these veins are contiguous, which would potentially demonstrate a 3.70 kilometre strike-length and 650 metre vertical extent of gold mineralization.

TABLE 2 – 2018 Irene Drill Hole Location and Orientation

Notes:

* Coordinates are given in North American Datum 83 (NAD83), Zone 8.
** Length/interval refer to drill hole intercept.  True widths have not been determined.
*** Grab samples are selective in nature, and the reported mineralization and assay results may not be representative.

Methods

Drill core samples ranged between 0.55 and 2 metres length and were cut at Triumph’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 FAA313), and samples that tested over 10 g/T Au were retested using a 30g nominal sample and gravimetric analysis (method GO FAG303). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B).  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, were 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.

Qualified Person

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for 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 “Paul Reynolds”
Paul Reynolds, President & CEO

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.

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