New Discovery hole at Rivard confirms High Grade Visible Gold with 129.79 g/t over 1.30 meters

• Significant intercepts include 129.79 g/t Au over 1.30m, including 0.30m @ 561 g/t Au at 13.01m downhole in RV21-29;
  and
  9.58 gt Au over 0.80m, including 23.0 g/t Au over 0.30m from 40.80m in RV21-30;
• Spectacular visible gold viewed in each hole with increasing predictability of gold-hosting veins downhole.

VANCOUVER, June 29, 2021 - Trillium Gold Mines Inc. (TSXV:TGM) (OTCQX:TGLDF) (FRA:0702) ("Trillium Gold" or the "Company") reports the results from three drillholes at the Rivard Property portion of the Newman Todd Project in Red Lake, Ontario. The Rivard Property consists of one lease of six contiguous mineral claims encompassing 90 hectares, 26 km from Evolution Mining's Red Lake Operations. Visible bonanza-grade gold is observed in quartz veins in drill holes and in outcrops/trenches across the property. Alteration and wide-spread gold mineralization occur extensively within structurally and chemically favorable rocks. Historically, the Rivard Property contains both visible gold in narrow high-grade veins as well as in broader zones of lower grade gold mineralization.

These are the first three holes (RV21-28 to RV21-30), in a series of drill holes targeting the Rivard high-grade gold veining, and are drilled parallel to each other perpendicular to the strike of the gold bearing vein system (see Figure 2). The visible gold seen in RV21-29 (Figure 1) is the first bonanza intersection received from the drilling to date.

"Drilling at the Rivard Property has continued to present us with some spectacular visible gold. Previous drilling only tested immediately below the existing trenches where the veins and occurrences of VG was known. Our drilling has pushed the known gold in the veins to approximately two hundred metres below the surface and each hole has yielded numerous occurrences of VG. As we add more holes to the project, we expect to be able to gain appreciable proficiency to predict targets for higher grade mineralization within the vein system" commented Bill Paterson, head of exploration.

Russell Starr, CEO of Trillium Gold commented, "This is a major new discovery for Trillium. Historically the Rivard family had produced enough gold off the Rivard property to survive for three decades. While we knew there was gold in quartz veins, to encounter such high grade in our first drill program is an exceptional outcome for both our technical team led by Bill as well as for our shareholders. This intersection further substantiates the tremendous potential for Newman Todd to become the next mining operation in Red Lake."

Interpretation of the veining and VG occurrences in the core is establishing that there is a series of corridors showing an increased frequency of gold veining. These are oriented in the previously identified NW/SE trend. Subsequent interpretation of the assay results indicates that in reality, any assay over 1 g/t signifies that a corridor has been intersected.

Further drilling will be completed to test the limits as well as the horizontal and vertical extents of these corridors and determine their interaction with the NT Zone to the southeast. There is also the possibility that there are other VG-bearing vein corridors further northeast on the property, to be determined with further drilling.

RV21-28 targeted the down dip projection of gold veining on surface seen in the Long Pit and Sadler Pit trends. The hole primarily intersected narrow quartz and quartz-feldspar porphyry sections, wider sections of altered ultramafic rocks and a few sections of mafic dykes. Visible gold was intersected at 20.42m downhole and several specks of visible gold were seen in the section from 79.70m to 80.0m downhole. Highlights from RV21-28 are listed below. All significant assay intercepts are shown in Figure 3 and Table 1.

• 18.00-21.00m: 3.0m @ 3.43 g/t Au
• 74.00-80.00m: 6.0m @ 1.44 g/t Au,
  - including 1.00m @ 3.97 g/t Au,
  and 0.30m @ 7.74 g/t Au
• 226.60-229.85m: 3.25m @ 1.43 g/t Au
• 247.80-249.30m: 1.50m @ 4.32 g/t Au,
  - including 1.00m @ 5.59 g/t Au

RV21-29 was collared back and 35m east of RV21-28 to intersect an additional vein trend east of the Long Pit trend, targeting under the south end of the Long Pit trend. The hole was designed to also drill under the Sadler Pit trend 160m to the west. The hole intersected a series of quartz and quartz feldspar porphyry sections, alternating with six sections of altered ultramafic at the end of the hole. Visible gold was seen at 13.01m downhole (Figure 1) and also at 224.36m downhole.

Highlights from RV21-29 are listed below. All significant assay intercepts are shown in Figure 3 and Table 1.

• 12.00-13.30m: 1.30m @ 129.79 g/t Au
  - including 0.30m @ 561 g/t Au
• 16.00-20.00m: 4.00m @ 0.56 g/t Au
• 24.00-25.00m: 1.00m @ 1.35 g/t Au (in area under Long pit)
• 152.00-154.00m: 2.00m @ 2.28 g/t Au
• 224.50-225.25m: 0.75m @ 2.42 g/t Au
• 290.00-295.70m: 5.70m @ 0.75 g/t Au
  - including 1.0m @ 2.30 g/t Au
  and 1.01m @ 1.84 g/t Au
• 336.50-337.00m: 0.50m @ 2.99 g/t Au

RV21-30 was collared 80m North of the Long Pit area and targeted the down dip projection of gold veining on surface from the Long Pit trend to the east and the Sadler Pit trend to the west. The hole intersected quartz and quartz-feldspar porphyry sections altered ultramafic and talc altered ultramafic rocks. Visible gold was intersected at 41.4m and at 54.3m downhole. Highlights from RV21-28 are listed below. All significant assay intercepts are shown in Figure 4 and Table 1.

• 40.80-41.60m: 0.80m @ 9.58 g/t Au
  - including 0.30m @ 23.00 g/t Au
• 43.00-45.90m: 2.90m @ 0.43 g/t Au
• 54.10-54.40m: 0.30m @ 2.87 g/t Au
• 102.00-103.00m: 1.00m @ 2.27 g/t Au
• 151.40-152.0m: 0.60m @ 2.28 g/t Au
• 163.60-166.50m: 2.90m @ 0.76 g/t Au
• 207.60-209.60m: 2.00m @ 4.56 g/t Au
  - including 0.90m @ 9.58 g/t Au
• 259.00-259.60m: 0.60m @ 4.76 g/t Au
  - including 0.30m @ 7.20 g/t
• 276.50-277.00m: 0.50m @ 8.40 g/t Au

Table 1: Significant Assay Results from drillholes RV21-28 to RV21-30

Table 2: Drillhole location details for holes reported in the current press release.

The Red Lake Camp is famously known for high grade gold mineralization at depth, with Evolution Mining's Red Lake Gold Mine currently reaching depths of several thousand feet. Trillium continues to test various drill orientations in order to develop a comprehensive understanding of the mineralization and structural controls and test the depth potential of the Newman Todd Zone and the Rivard Property vein system.

All drilling was supervised by Paul Barc, PGeo. The drilling was conducted by Rodren Drilling Ltd., of West St. Paul, Manitoba. Drill core was logged and sampled in a secure core facility on site. Core samples from the program were cut in half, using a diamond cutting saw, and half cores were sent for analysis to the SGS Laboratories in Red Lake, ON, and Burnaby, BC and Activation Laboratories Ltd. in Dryden and Thunder Bay, ON, all accredited mineral analysis laboratories. All samples were analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Selected samples with results greater than one ounce per ton gold were also analyzed with a standard 1 kg metallic screen fire assay. Certified gold reference standards, blanks and duplicates are routinely inserted into the sample stream, as part of Trillium Gold's quality control/quality assurance program (QAQC) to monitor accuracy and precision. No QAQC issues were noted with the results reported herein. All drill intercepts reported are down-hole core lengths, which does not necessarily represent true widths.

The technical information presented in this news release has been reviewed and approved by William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines., as defined by NI 43-101.

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 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.

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SOURCE Trillium Gold Mines Inc.