Trillium Gold Announces Issuance of Previously Announced Warrants

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VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV: TGM, FRA: 0702) ("Trillium") announced today that, further to its press release dated March 29, 2023, it has issued 608,695 warrants (the "Warrants") to RSD Capital Corp. ("RSD") in connection with the bridge loan agreement between Trillium and RSD dated March 28, 2023.

The Warrants qualify as a Loan Bonus pursuant to section 2 of TSX Venture Exchange ("TSXV") Policy 5.1. Each Warrant entitles the holder to subscribe for and purchase one common share (a "Common Share") in the capital of Trillium at a purchase price of C$0.115 per Common Share for a period of one year following the date of issuance. Each Warrant is non-assignable and non-transferable and the Warrants and any Common Shares issued upon exercise of the Warrants are subject to a hold period and may not be traded until August 25, 2023, except as permitted by applicable securities legislation and the rules and policies of the TSXV.

The Warrants remain subject to the final acceptance of the TSXV.

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, Trillium has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. Trillium recently closed acquisitions effectively extending its contiguous land position over more than 100 km of favourable structures on trend with Kinross Gold's Great Bear Project and Evolution Mining's Red Lake Operation. In addition, Trillium has interests in highly prospective properties in Larder Lake and Shining Tree, Ontario.

Visit Trillium's website at www.trilliumgold.com.

For further information, please contact:

Trillium Gold Inc.

Russell Starr
President, CEO and Director

Donna Yoshimatsu
VP Corporate Development and Investor Relations

Tel: (416) 722-2456
Email: [email protected] or [email protected]
Website: www.trilliumgold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary note regarding forward-looking statements

This news release contains forward-looking statements and forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Such forward-looking statements include, without limitation, statements regarding the expected use of proceeds of the Loan. 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. Forward-looking information is based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: ability to obtain required approvals from the TSX Venture Exchange; impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

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 companies disclaim 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.