Triumph Gold Defines Gold-Rich Breccia Zone at Revenue East

VANCOUVER, British Columbia, July 31, 2018 -- Triumph Gold Corp., (TSXV:TIG) (OTCMKTS:TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results of spring and early-summer drilling on the Company’s 100% owned, road accessible, Freegold Mountain Property in the Yukon Territory. Exploration was focused within a 6 km soil and geophysical anomaly that surrounds the Revenue and Nucleus resource areas. Highlights of results available to date include:

• Expansion and definition of the Au-Ag-Cu-Mo-rich breccia body (WAu Breccia) first reported in 2017 (PR#17-12, October 19, 2017). The breccia was intersected by five additional drill holes including 72.00 metres of 1.33 g/t AuEq* (from 60.00m in RVD18-03), 128.00 metres of 1.27 g/t AuEq* (from 105.00m in RVD18-08), and 43.02 metres of 1.50 g/t AuEq* (from 62.52m in RVD18-11). Individual sample intervals have gold concentrations up to 27.2 g/t (Table 1)

• Multiple drill intersections of mineralization within the Revenue diatreme (main breccia body), including 44.00 metres of 1.08 g/t AuEq* (from 198.00m in RVD18-02), 19.81m of 1.24 g/t AuEq* (from 91.44m in RVD18-10), and 11.00 metres of 2.04 g/t AuEq* (from 146m in RVD18-10) (Table 2).

WAu Breccia Target

The WAu Au-Ag-Cu-Mo breccia, located near the southeast corner of the Revenue diatreme, was first intersected by two drill holes in 2011:

• RVD11-19 - 1.40 g/t Au, 9.2 g/t Ag, 0.21% Cu and 0.032% Mo over 76.34m (176.75-253.09m) and
• RVD11-28 - 0.86 g/t Au, 10.3 g/t Ag, 0.36% Cu and 0.120% Mo over 41.95m (208.30-250.25m)

Relogging of core in 2016 identified the high-grade breccia zone as a discrete body, which was then targeted and intersected in 2017 by a stepout 41 metres west of RVD11-19:

• RVD17-12 - 1.18 g/t Au, 8.3 g/t Ag, 0.24% Cu and 0.013% Mo over 40.0m (247.50-287.50m)

Modelling of the breccia as an east-west striking, south dipping body helped successfully target five additional drill holes in 2018 to test the breccia east of, and both up and down dip from, the original RVD11-19 drill intersection. These drill holes confirmed the continuity and grade of the breccia over a 130 metre strike length, and to a depth of at least 200 metres (Table 1). The breccia is open to depth and to the west beneath the Revenue diatreme. Drill hole locations are shown on Figure 1, and details of location and orientation are in Table 3.

Click here for Figure 1:

Figure 1

Table 1 - WAu Breccia Intercepts, Revenue East Drilling, 2018

Other Targets

Additional drilling in 2018 targeted breccia hosted mineralization within the Revenue diatreme as well as adjacent porphyry style mineralization at Revenue East, and the porphyry style Keirsten Zone, which was identified in 2017 (PR#17-13, November 2, 2017). Porphyry style mineralization has also been identified in a number of locations beyond Revenue East (e.g. to the east in the Blue Sky Zone, and to the west at Revenue West and in the Guder Zone). The Blue Sky Zone, and Guder Zone are being tested during the current drill campaign, and results will be reported separately.

1. Within the eastern part of the Revenue diatreme, a series of shallow holes were drilled to test for near surface oxide gold, as intersected in RVD17-10 (0.64 g/t Au over 68m from 36m; PR#17-12, October 19, 2017). Although the oxide gold encountered in 2018 was lower grade than that intersected in 2017 (e.g. RVD18-09 with 28.96m @ 0.342 g/t Au), significant higher-grade gold and copper was intersected in an underlying and previously unknown supergene blanket (e.g. RVD18-10 with 19.81m @ 0.887 g/t Au, 2.7 g/t Ag, and 0.16% Cu) that consists of chalcocite on fractures and coating pyrite, and which has also been identified elsewhere at Revenue East, e.g. in the upper portion of the WAu breccia. Sulfide replacement and hydrothermal breccia mineralization was intersected as well (e.g. RVD18-02 with 44m @ 0.405 g/t Au, 1.9 g/t Ag, and 0.09% Cu, and RVD18-10 with 11m @ 1.563 g/t Au, 6.66 g/t Ag, and 0.22% Cu) (Table 2).
2. Porphyry style mineralization was identified at Revenue East in numerous historic drill holes (e.g. RVD11-22 with 238.10m @ 0.13% Cu, 0.31 g/t Au, and RVD11-028 with 104.15m @ 0.17% Cu, 0.32 g/t Au and 0.09% Mo). The footprint of porphyry style mineralization at Revenue East was extended westwards by 110 metres with RVD18-02 and south 40 metres by RVD18-01. It was also identified on the northeast edge of the Revenue diatreme with RVD18-07, greater than 200 metres north of the main body of porphyry mineralization.
3. The Keirsten Zone is a blind target, located under tens of metres of overburden between the Revenue and Nucleus deposits. Inaugural drilling of the zone in 2017 tested the core of a strong chargeability high and encountered intense, multi-stage porphyry style alteration and veining in a granodiorite porphyry host rock from 193 metres to the end of the hole at 603.50 metres. The 2018 drill campaign expanded the zone of strong porphyry-style alteration and veining, but copper and gold mineralization, although widespread, is generally low grade (Table 2).

Table 2 - Additional Revenue East and Keirsten Zone Drill Results, 2018

Exploration Update

An 18,000 metre diamond drill program is currently in progress on Triumph Gold’s 100% owned, road accessible, Freegold Mountain property. Exploration is mainly focused on identifying new porphyry and epithermal mineralization within a 6 km long soil and geophysical anomaly that envelops the Revenue and Nucleus deposit areas (Figure 1). Results in this news release represent less than 30% of the total planned program. Drilling is now complete in three additional areas, the Blue Sky Zone (e.g. RVD17-13 with 1.01 g/t Au and 0.285% Cu over 57 metres), the Guder Zone (e.g. RVD17-14 with 15.0 g/t Au over 7 metres), and the Granger Zone (e.g. GRRAB-091 with 4.48 g/t Au over 16.73m). The results from drilling in these zones will be released as they are received and checked for quality. Two drills are currently situated over the Nucleus deposit area where they will drill approximately 4,000 metres. When the drilling at Nucleus is complete one drill will be mobilized to conduct the inaugural drill test of the Irene epithermal vein prior to the end of the field season.

Table 3 - Location and orientation of 2018 Drilling at Revenue East and Keirsten Zone

President’s Comment

Paul Reynolds, Triumph Gold’s President and CEO comments, “Triumph Gold’s technical team identified three exploration opportunities at Revenue East that were tested with a precision exploration program. That all three opportunities produced positive results speaks to how robust the Revenue hydrothermal system is, and how much exploration success can be achieved with the right targeting techniques. We are especially excited by the definition of the Au-Ag-Cu-Mo rich WAu breccia, and the possibility of finding similar breccia bodies in the future.”

Notes:

* 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$3.00 per pound of copper, US$16.00 per pound of molybdenum, US$1,250 per troy ounce of gold and US$16.00 per troy ounce of silver.

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

*** Length/interval refer to drill hole intercept. True widths have not been determined.

Methods and Qualified Person

Drill core samples ranged between 1.00 and 2.00 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 50g screened metallics (GO FAS50M), which uses a combination of AAS, ICP-AES and gravimetric finishes to determine gold contained in both a fine and coarse fraction after being sieved through 106 mesh. An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with assay grade four acid digestion and a higher range of detection (method GA AAS42S). 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., 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

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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.