Trillium Gold Mines Announces Brokered Private Placement for up to C$4.0 Million

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, June 3, 2021 - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX: TGLDF) (FRA: 0702) ("Trillium Gold" or the "Company") is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (the "Lead Agent") to act as lead agent and sole bookrunner on behalf of a syndicate of agents (together with the Lead Agent, the "Agents") in connection with a best efforts, private placement of up to 4,000,000 units of the Company (the "Units") at a price of C$1.00 per Unit for gross proceeds of up to C$4,000,000 (the "Offering").

Each Unit will be comprised of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one common share of the Company (each, a "Warrant Share") at a price of C$1.50 at any time on or before the date which is 24 months after the closing date of the Offering.

The Agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the Offering, to sell up to an additional 1,000,000 Units at the unit price for additional gross proceeds of up to C$1,000,000 (the "Agents' Option").

The Company intends to use the net proceeds raised from the sale of Units to advance the exploration projects of the Company's Red Lake properties as well as for general working capital purposes. The Offering is scheduled to close on or around June 25, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Unit Shares and Warrant Shares will have a hold period of four months and one day from the closing date.

As consideration for their services, the Agents will receive a cash commission of 6.0% of the gross proceeds of the Offering and broker warrants in an amount equal to 5.0% of the aggregate number of Units sold pursuant to the Offering. Each broker warrant will be exercisable to purchase one common share of the Company at a price of C$1.00 for a period of 24 months from the closing date of the Offering. The Agents will not receive any cash commissions or broker warrants for purchasers under the President's List.

The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Visit our website at www.trilliumgold.com.

On behalf of the Board of Directors,

Trillium Gold Mines Inc.

"Russell Starr"

Russell Starr

President, CEO and Director

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.

Neither 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.

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. 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.

SOURCE Trillium Gold Mines Inc.