Trinity Silver Announces TSXV Conditional Approval of Option Agreement to Acquire the Nueva Chanarcillo Silver Project in Northern Chile

A force majeure extension requires a USD $2-million payment creditable against the final option installment.

Rhea-AI Summary

Trinity Silver (TOMXF) received conditional TSX Venture Exchange approval for an option to acquire the Nueva Chañarcillo silver property in northern Chile. The agreement, effective July 31, 2026, allows its subsidiary Metales de Chile SpA to acquire 100% of four Juan Godoy mining concessions from Sociedad Legal Minera Juan Godoy Una de la Sierra Chañarcillo for USD $10-million in cash. USD $150,000 has been paid; staged payments culminate in USD $7.8-million due within 48 months of the effective date.

Exercise would leave the property subject to the greater of a USD $200 annual minimum royalty and a 2.0% net smelter return royalty, with different payment start dates. A separate, conditional purchase covers two real estate lots for USD $40,000 after exercise. Final exchange acceptance remains pending one document, which the company expects shortly.

4 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 8 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.The option permits acquisition of 100% of four Juan Godoy mining concessions in northern Chile.
• Moderate pointThe option received conditional TSX Venture Exchange approval, advancing the previously announced agreement.
• Minor point. Forward-looking: it has not happened yet and may not happen.The planned post-exercise land purchase would add two lots totalling 170 hectares.
• Minor pointNo finder's fees were paid in connection with the agreement.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Option consideration totals USD $10-million cash: $150,000 paid; $300,000, $750,000, $1-million and $7.8-million due within 12, 24, 36 and 48 months, respectively, of July 31, 2026. 1.9× market cap
• Moderate pointFinal exchange acceptance remains pending one final document, which the company expects shortly.
• Minor point. Forward-looking: it has not happened yet and may not happen.Post-exercise royalty is the greater of USD $200 annually and 2.0% of net smelter returns.
• Minor point. Forward-looking: it has not happened yet and may not happen.Royalty duration is the longer of 100 years from exercise and 70 years from commercial production.
• Minor point. Forward-looking: it has not happened yet and may not happen.New concession applications within the 500-metre area of interest must benefit the Optionor during the option term.

3 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Unexercised termination prohibits Trinity and related parties from acquiring area-of-interest concessions for three years.
• Minor point. Forward-looking: it has not happened yet and may not happen.Post-exercise transfers of area-of-interest concessions must include all such concessions, with buyers assuming royalty obligations.
• Minor point. Forward-looking: it has not happened yet and may not happen.The two-lot purchase costs USD $40,000, subject to conditions and prior exchange acceptance if required.

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Vancouver, British Columbia--(Newsfile Corp. - November 6, 2026) - Trinity Silver Corp. (TSXV: TOM) (OTCQB: TOMXF) (FSE: 5D5) (the "Company") is pleased to announce that, further to its news release dated August 10, 2026, the TSX Venture Exchange has conditionally approved for filing the Company's previously announced option agreement dated effective July 31, 2026 (the "Agreement"), pursuant to which the Company may acquire a 100% interest in and to four mining exploitation concessions known as the Juan Godoy property, located over the historic Chañarcillo silver mine in the Atacama region of northern Chile (the "Property"). The Company's subsidiary, Metales de Chile SpA, a Chilean company, entered into the Agreement with Sociedad Legal Minera Juan Godoy Una de la Sierra Chañarcillo (the "Optionor"), an arm's length party.

Agreement Terms

Under the terms of the Agreement, the Company may acquire a 100% interest in the Property for total consideration of USD $10-million in cash, payable as follows:

• USD $150,000 upon execution of the Agreement and delivery of pending documentation (paid);
• USD $300,000 on or before the date that is 12 months from the effective date of the Agreement;
• USD $750,000 on or before the date that is 24 months from the effective date of the Agreement;
• USD $1-million on or before the date that is 36 months from the effective date of the Agreement; and
• USD $7.8-million on or before the date that is 48 months from the effective date of the Agreement.

If an act of God or event of force majeure occurs, the Company may request a one-year extension of the option term before the third anniversary of the effective date of the Agreement by paying USD $2-million, which is creditable against the final USD $7.8-million installment.

Upon exercise of the option, the Company will hold a 100% interest in the Property, subject to a royalty in favour of the Optionor equal to the greater of: (i) a minimum royalty of USD $200 per year, payable from the calendar year following exercise of the option; and (ii) a 2.0% net smelter return royalty, payable only from the commencement of commercial production. The royalty is payable for the longer of 100 years from exercise of the option and 70 years from the start of commercial production.

During the term of the Agreement, any new mining concessions applied for within the area of interest, which extends 500 metres outward from the external perimeter of the mining concessions covered by the Agreement, must be applied for in the name and for the benefit of the Optionor. Mining rights staked or acquired by the Optionor within that area, including at the Company's request, are included within the terms of the Agreement. The Company did not hold any mining claims within the area of interest before the effective date of the Agreement. If the option terminates without being exercised, the Company and its related parties are prohibited from staking or acquiring mining concessions within the area of interest for three years following termination. These restrictions cease upon exercise of the option. Following exercise of the option, the area of interest will remain relevant solely for the purposes of the 2.0% net smelter return royalty and the requirement that any transfer of mining concessions within the area of interest include all such concessions, with the transferee assuming all royalty obligations. Following exercise of the option, and subject to the satisfaction or waiver of the applicable conditions and prior TSX Venture Exchange acceptance, if required, the Company has also agreed to acquire two real estate lots held by the Optionor in the area of interest, totalling 170 hectares, for total consideration of USD $40,000.

No finder's fees were paid in connection with the Agreement. The Agreement remains subject to final acceptance of the TSX Venture Exchange, pending one final document expected shortly.

About Nueva Chañarcillo

Nueva Chañarcillo is located approximately 65 kilometres south of Copiapó in Chile's Atacama Region. Trinity is advancing the Project under the option arrangements announced on 10 August 2026. The tailings assessment forms part of the Company's evaluation of historical mine material and the Project's broader silver exploration potential.

About Trinity Silver Corp.

Trinity Silver Corp. (TSXV: TOM) is a mineral exploration company advancing a portfolio of precious and base metals projects. Its strategy is to acquire and evaluate projects through systematic exploration and technical assessment.

For further information, please contact:

Thomas Wood
Chief Executive Officer
Trinity Silver Corp.
twood@qcap.com.au

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information in this news release includes statements related to: the exercise of the option, the making of the remaining option payments, the acquisition of the real estate lots and the receipt of final acceptance of the TSX Venture Exchange.

Forward-looking information is based on management's reasonable assumptions, estimates, expectations, and opinions as of the date of this news release. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information in this news release. These include: the Company's ability to obtain financing to make the remaining option payments; the receipt of final acceptance of the TSX Venture Exchange; title and permitting risks; and the risks inherent in mineral exploration.

Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Accordingly, readers should not place undue reliance on forward-looking statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322778

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What approval did Trinity Silver receive for the Nueva Chañarcillo option?

Trinity Silver received conditional TSX Venture Exchange approval for filing its option agreement. Final acceptance remains pending one final document, which the company expects shortly. The option allows acquisition of a 100% interest in four Juan Godoy mining concessions.

Can Trinity Silver extend the Nueva Chañarcillo option term?

Trinity may request a one-year extension if an act of God or force majeure event occurs. The request must be made before the third anniversary of the agreement's effective date and requires a USD $2-million payment, creditable against the final USD $7.8-million installment.

When would Trinity Silver start paying the Nueva Chañarcillo royalties?

The USD $200 annual minimum royalty starts in the calendar year following option exercise, while the 2.0% net smelter return royalty, based on proceeds from mineral sales, becomes payable only upon commercial production. The royalty payable is the greater of the two amounts.

How are additional concessions treated under Trinity Silver's Nueva Chañarcillo option?

Mining rights staked or acquired by the Optionor within the area of interest, including at Trinity's request, fall under the agreement. The area extends 500 metres outward from the concessions' external perimeter. After exercise, it remains relevant only to the royalty and the requirement to transfer all area-of-interest concessions together with their royalty obligations.