Trilogy Metals Announces Expanded Management Team at Ambler Metals Joint Venture to Advance Upper Kobuk Mineral Projects in Alaska

Rhea-AI Summary

Trilogy Metals (NYSE: TMQ) announced key senior appointments at its 50/50 Ambler Metals joint venture with South32 to advance the Upper Kobuk Mineral Projects in Alaska.

The appointments name Michael Galicki (VP Exploration), Cole Schaeffer (VP HR, Community & Partnerships), Jenna Tan (VP Finance) and Ron Rimelman (Senior Director, Permitting), aiming to support drilling, permitting and an investment decision on the Arctic Project.

Key Figures

Exploration experience: More than 15 years Leadership experience: More than 25 years Mine permitting experience: More than 40 years +5 more

8 metrics

Exploration experience More than 15 years Michael Galicki advancing mineral exploration programs in North America

Leadership experience More than 25 years Cole Schaeffer in mining, corporate management and Alaska development

Mine permitting experience More than 40 years Ron Rimelman in environmental review of natural resource projects

Employee base managed Approximately 800 employees Teck Alaska workforce under Schaeffer as Manager of Human Resources

Road length 211 miles Industrial-use Ambler Access Project road referenced in prior permitting work

NEPA reviews count Two NEPA reviews Rimelman’s direction of reviews and Clean Water Act permitting at Kensington Mine

EIS leadership roles Third-party EIS co-led Rimelman’s work on Red Dog Mine expansion Environmental Impact Statement

Committee leadership tenure Nine years Rimelman chairing the American Exploration and Mining Association Environmental Committee

Market Reality Check

Price: $3.91 Vol: Volume 19,097,272 is 2.53...

high vol

$3.91 Last Close

Volume Volume 19,097,272 is 2.53x the 20-day average of 7,543,190, indicating elevated interest ahead of the UKMP drilling and permitting push. high

Technical Shares at $3.91 are trading above the 200-day MA of $3.20, showing strength after prior weakness vs the $11.29 52-week high.

Peers on Argus

TMQ gained 6.83% while key peers were mixed to negative (e.g., WRN -1.56%, NB -3...

1 Up

TMQ gained 6.83% while key peers were mixed to negative (e.g., WRN -1.56%, NB -3.44%, LZM -2.10%). Only EMX was modestly higher at 1.96%, and just one peer (USAS, +3.2%) appeared on the momentum scan, supporting a company-specific move tied to Ambler Metals management additions.

Historical Context

5 past events · Latest: Feb 17 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Year-end results	Negative	-12.6%	Larger net loss driven by derivative liability despite solid cash and support.
Jan 20	Leadership expansion	Positive	+4.0%	Added advisors and executives following U.S. federal investment announcement.
Dec 17	2026 program & budget	Neutral	-2.3%	Approved ~$35M Ambler program and ~$5M corporate budget with planned permits.
Nov 07	ATM program	Negative	+2.3%	Established US$200M at-the-market equity program for UKMP funding.
Oct 24	ROW permits update	Positive	+15.9%	Restored 50-year federal Right-of-Way permits for 211-mile Ambler Access road.

Pattern Detected

Recent news reactions mostly aligned with the underlying tone: positive permitting and strategic updates often saw gains, while weaker financial results saw declines, with one notable divergence on an ATM announcement.

Recent Company History

Over the last several months, Trilogy has focused on advancing the Upper Kobuk Mineral Projects via funding, permitting and JV planning. On Oct 24, 2025, restored Ambler Access Project Right‑of‑Way permits drove a 15.86% gain. A new ATM program on Nov 7, 2025 saw a smaller positive move. The Dec 17, 2025 2026 program/budget and the Jan 20, 2026 leadership expansion built out Ambler Metals’ framework. Fiscal 2025 results on Feb 17, 2026 triggered a sharp -12.56% drop. Today’s JV management build-out extends that execution-focused narrative.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-10-31

An automatic shelf registration on Form S-3ASR dated Oct 31, 2025 is effective, allowing Trilogy to issue common shares and other securities via prospectus supplements. The shelf has been used at least once, as indicated by a 424B5 filing on Nov 7, 2025, giving the company flexible capital-raising capacity alongside its strategic U.S. government investment framework.

Market Pulse Summary

This announcement expands the Ambler Metals management bench with seasoned leaders in exploration, A...

Analysis

This announcement expands the Ambler Metals management bench with seasoned leaders in exploration, Arctic operations, finance and permitting, directly tied to advancing the UKMP’s Arctic and Bornite deposits and navigating the FAST‑41 process. Recent history shows Trilogy pairing federal support, a $35 million 2026 JV budget, and an effective shelf registration to fund this work. Investors may track progress on mine‑permit submissions, Ambler Road milestones, and execution of the 2026 drilling and de-risking plans.

Key Terms

nepa, national environmental policy act, environmental impact statement, clean water act, +1 more

5 terms

nepa regulatory

"He oversaw the National Environmental Policy Act ("NEPA") review, and federal and state permitting"

The National Environmental Policy Act (NEPA) is a U.S. law that requires federal agencies to evaluate and report the environmental impacts of major projects, like permitting, construction, or resource development. For investors, NEPA is important because its reviews and required studies can delay, alter, or block projects—much like a safety inspection that must be passed before a vehicle is allowed on the road—affecting timelines, costs and the potential revenue of affected companies.

national environmental policy act regulatory

"He oversaw the National Environmental Policy Act ("NEPA") review, and federal and state permitting"

A U.S. law that requires federal agencies to evaluate and disclose the likely environmental effects of major projects and decisions before they proceed. For investors, that review can delay approvals, add compliance costs, or change project plans—like a required safety inspection that can uncover problems or require fixes before construction continues—so NEPA processes are a key source of timing, cost and legal risk for projects involving federal permits or funding.

environmental impact statement regulatory

"he co-led the third-party Environmental Impact Statement ("EIS") for expansion of the Red Dog Mine"

An environmental impact statement is a formal report that evaluates the likely effects a proposed project or plan will have on air, water, land, wildlife and local communities; it lays out potential harms, proposed mitigation measures, and alternatives. Think of it as a project’s environmental report card and repair plan: regulators use it to decide permits, and investors use it to assess delays, extra costs, legal risks and reputation exposure tied to environmentally sensitive issues.

clean water act regulatory

"directed two NEPA reviews and Clean Water Act permitting of the Kensington Mine in Alaska"

A U.S. federal law that sets rules for protecting rivers, lakes and coastal waters by controlling pollution from pipes, runoff and industrial discharges—like neighborhood rules that stop businesses from dumping waste into a shared pond. Investors pay attention because the law determines permits, cleanup responsibilities, potential fines and operating costs for companies with water-related operations, and those obligations can materially affect cash flow, project timelines and asset values.

critical minerals technical

"position this venture as a premier domestic source of critical minerals."

Materials needed to build modern technologies—like batteries, electronics, renewable energy systems and defense equipment—that have few easy substitutes and often come from a small number of countries or mines. Investors care because their supply can be disrupted, expensive or slow to increase, which affects the cost, availability and growth prospects of companies and industries that rely on them; think of them as critical spare parts for the global economy.

AI-generated analysis. Not financial advice.

VANCOUVER, BC, Feb. 23, 2026 /PRNewswire/ - Trilogy Metals Inc. (NYSE American: TMQ ) (TSX: TMQ) ("Trilogy Metals", "Trilogy" or the "Company") announced today key management appointments at its 50/50 joint venture with South32 Limited ("South32") – Ambler Metals LLC ("Ambler Metals") – which is advancing exploration and development of the Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska's Ambler Mining District.

Tony Giardini, President and CEO of Trilogy, commented: "Michael Galicki and Cole Schaeffer bring exactly the expertise we need to advance the UKMP. Michael's proven success managing complex exploration programs in high-logistics North American environments positions us perfectly for this year's drilling season as we work to expand our resource base and test high-priority targets.

"Cole brings invaluable experience from both Alaska Native Corporations and Teck Resources Limited's Red Dog Mine, one of the world's largest zinc operations. His deep understanding of community engagement and operational requirements in Alaska's Arctic will be critical as we advance both the Arctic and Bornite deposits. Together, Michael and Cole strengthen our ability to unlock the full value of this world-class mining district.

"These appointments position Ambler Metals to deliver on critical near-term milestones. Jenna Tan brings the financial and commercial rigor we need as we advance toward an investment decision on the Arctic Project. Her experience leading South32's Hermosa project through feasibility and development gives us proven expertise in managing major mining ventures in the United States.

"Ron Rimelman's 40 years of mine permitting experience, including his leadership on the Donlin Gold project and work throughout Alaska, will be invaluable as we navigate the FAST-41 expedited federal permitting process. Together, Jenna and Ron provide the institutional knowledge and technical expertise needed to transform Ambler Metals from explorer to developer and position this venture as a premier domestic source of critical minerals."

Michael Galicki has been appointed Vice President, Exploration, of Ambler Metals. He has more than 15 years of experience advancing mineral exploration programs across North America, focused on base and critical metals. Prior to joining Ambler Metals, Mr. Galicki held leadership roles with South32, where he led exploration operations, strategy and field execution across multiple jurisdictions, including remote, helicopter‑supported exploration programs. He has also held exploration and geoscience leadership roles with Galore Creek Mining Corporation Joint Venture and Hunter Dickinson. Mr. Galicki holds a Master of Science in Economic Geology from Simon Fraser University and a Bachelor of Science (Honours) in Geology from Laurentian University. He is a registered Professional Geoscientist (P.Geo.) in British Columbia.

Cole Schaeffer has been appointed Vice President, Human Resources, Community and Partnerships, of Ambler Metals. He has more than 25 years of leadership experience in mining, corporate management, government contracting and rural housing development in Alaska. Prior to joining Ambler Metals, he served as Manager of Human Resources at Teck Alaska, overseeing recruitment, training and development, and counseling services for approximately 800 employees. He also led Indigenous shareholder development initiatives and managed multimillion‑dollar budgets and complex workforce programs at Teck. Mr. Schaeffer previously served as President and CEO of the Kikiktagruk Inupiat Corporation and Executive Vice President of Tikigaq Corporation.

Jenna Tan has been appointed Vice President, Finance, of Ambler Metals. She has experience across major mining and resources companies in the United States and Australia in commercial strategy, corporate development and financial oversight. Her previous roles at South32 include Director of Finance for the Hermosa project in Arizona and Manager of Strategy and Performance, where she led investment evaluations, federal grant reporting, corporate planning and joint venture due diligence. Earlier in her career, she held senior finance, strategy and operational roles at Vale, Platinum Blasting Services, Peabody, BHP Mitsubishi Alliance and Ernst & Young. Ms. Tan holds a Bachelor of Commerce from the University of Melbourne, is a CPA and is a Graduate of the Australian Institute of Company Directors.

Ron Rimelman has been appointed Senior Director, Permitting, of Ambler Metals. He has more than 40 years of experience in environmental review of natural resource projects throughout North America. Most recently, he served as Vice President of Environment, Health and Safety, and Sustainability for NOVAGOLD Resources where he oversaw the National Environmental Policy Act ("NEPA") review, and federal and state permitting for the Donlin Gold project. In this role, he was also involved in environmental planning for the Ambler Mining District from 2011 to 2013 before it was divested from NOVAGOLD. While in consulting, he co-led the third-party Environmental Impact Statement ("EIS") for expansion of the Red Dog Mine in Alaska. Mr. Rimelman also directed two NEPA reviews and Clean Water Act permitting of the Kensington Mine in Alaska, as well as assisting in the EIS for the tailings expansion at the Greens Creek Mine in Alaska. More broadly, his mine permitting experience extends to projects in Nevada, Idaho, Arizona, Colorado, New Mexico, Montana, Michigan, British Columbia, and Australia. Mr. Rimelman is a past President of the American Exploration and Mining Association, and has chaired its Environmental Committee for nine years; this work has involved significant national advocacy for advancing US critical mineral mining. He has a Bachelor of Science in Chemical Engineering from the Massachusetts Institute of Technology.

About Trilogy Metals

Trilogy Metals Inc. is a metal exploration and development company that holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District, which is one of the richest and most prospective copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold, and silver and carbonate replacement deposits that host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the anticipated benefits of recent management appointments; the anticipated timing of permitting, feasibility study and planned activities at the UKMP; the anticipated investment decision on the Arctic Project; and perceived merit of the properties are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving the outcome of pending litigation, success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, prices for energy inputs, labour, materials, supplies and services, uncertainties involved in the interpretation of drilling results and geological tests, unexpected cost increases and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2025 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

View original content:https://www.prnewswire.com/news-releases/trilogy-metals-announces-expanded-management-team-at-ambler-metals-joint-venture-to-advance-upper-kobuk-mineral-projects-in-alaska-302693897.html

SOURCE Trilogy Metals Inc.

FAQ

Who were the Ambler Metals management appointments announced by Trilogy Metals (TMQ) on February 23, 2026?

The company appointed Michael Galicki, Cole Schaeffer, Jenna Tan and Ron Rimelman to senior Ambler Metals roles. According to the company, these hires cover exploration, HR/community, finance and permitting to advance the UKMP.

What role will Michael Galicki play at Ambler Metals under Trilogy Metals (TMQ)?

Michael Galicki was named Vice President, Exploration at Ambler Metals. According to the company, he brings 15+ years of North American exploration and helicopter-supported field experience for the upcoming drilling season.

How does Cole Schaeffer's appointment affect community engagement for TMQ's Ambler Metals JV?

Cole Schaeffer was appointed VP, Human Resources, Community and Partnerships to strengthen Indigenous and community relations. According to the company, he brings 25+ years of Alaska experience and prior leadership at Teck Alaska and regional corporations.

What is Jenna Tan's mandate as Vice President, Finance for Ambler Metals (TMQ)?

Jenna Tan will serve as VP, Finance to provide commercial and financial oversight toward an investment decision on the Arctic Project. According to the company, she previously led finance for South32's Hermosa project.

Why was Ron Rimelman hired as Senior Director, Permitting for Ambler Metals and what will he do?

Ron Rimelman was hired to lead permitting and federal reviews, including FAST-41 coordination. According to the company, he has 40 years of NEPA and permitting experience on major Alaskan and North American projects.