TORONTO, January 31, 2025--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) ("Trigon" or the "Company") announces a proactive operational adjustment at its Kombat Mine in Namibia to address unplanned maintenance requirements for its dewatering systems. The Company has temporarily suspended its operations for an anticipated period of six to nine months due to the failure of both of its two main submersible dewatering pumps. Please refer to news release dated January 16, 2025 for additional details.
The submersible pumps are crucial to the Company's operations at the Kombat Mine, and the unexpected breakdowns have left Trigon with no immediate solution for full restoration of its systems. Both pumps have been hoisted out of the shafts and sent to a third party engineering firm for independent verification of the root causes for the failures.
Unfortunately, due to water levels returning to their normal levels of 60 metres below service at Shaft 1 and 120 metres at Shaft 3, mining operations will be paused until dewatering activities have recommenced. The Company anticipates that dewatering will restart in Q3 of 2025, once the pumps have been repaired and the risk of reoccurrence has successfully been mitigated.
Strategic Operational Update
The Company is implementing a comprehensive recovery plan including advanced repairs and upgrades to critical equipment, to ensure long-term operational resilience and efficiency. Trigon has initiated a phased recovery strategy following the identification of maintenance needs in two key submersible pumps at the Kombat Mine. Both pumps have been safely retrieved and are undergoing rigorous analysis by a leading third-party engineering firm to optimize their performance and durability . While dewatering activities will pause during this period, the Company has a clear pathway to resume operations in Q3/Q4 2025, with enhanced systems designed to mitigate future risks.
Temporary Workforce Adjustment and Employee Support
As a result of this operational setback, the Company also announces the retrenchment of the majority of its onsite employees. To align with this short-term operational adjustment, Trigon will implement a temporary workforce reduction at the mine site. This decision, while necessary under the current circumstances, is one of great regret, as the Company values its team and recognizes the impact this will have on its employees and their families.
The Company deeply values its employees and is committed to supporting all affected team members through this transition. This includes generous severance packages, extended healthcare benefits, and dedicated job placement assistance in collaboration with local partners. Trigon remains optimistic about rehiring and re-engaging its workforce once operations resume.
Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, "While this temporary pause is not the outcome we envisioned, it is a critical step to strengthen Kombat’s infrastructure for sustained success. Our team is already advancing solutions to modernize our systems, ensuring we return to operations with greater reliability and efficiency. We extend our deepest gratitude to our employees and contractors, whose dedication has been instrumental in our progress to date, and to our stakeholders for their unwavering trust. Trigon is committed to emerging from this phase as a more resilient company, poised to deliver value for years to come."
Knowledge Katti, Namibian Businessman and local partner of Trigon Metals, commented, "We acknowledge the valid concerns of the Kombat community and all Trigon Mining employees during this challenging period. While this temporary pause is a setback, it is also an opportunity to strengthen our foundation for the future. Our commitment to Kombat remains unwavering—we are dedicated to ensuring that operations resume more sustainable than before. We will continue working to support our workforce and the broader community through this transition. Together, we will come back stronger."
The Company also reassures its stakeholders that it is exploring all viable options to restore operations as quickly as possible and minimize disruption to services. Trigon is actively engaging with technical experts and partners to accelerate repairs and explore innovative dewatering solutions. The Company reaffirms its confidence in the Kombat Mine’s long-term potential and is prioritizing investments in equipment upgrades and process improvements. Regular updates on recovery milestones will be shared with stakeholders, including progress toward the Q3 2025 restart target.
Qualified Person
The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.
Trigon Metals Inc.
Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds a 100% interest in the Kalahari Copperbelt Project and an 80% interest in five mining licences in the Otavi Mountainlands where the Company operates the Kombat Mine. In Morocco, the Company is the holder of the Silver Hill and Addana projects, highly prospective copper and silver exploration projects.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the operations at the Kombat mine, the Company’s ability to restart the operations at the Kombat mine, the impact of the flooding at the Kombat mine, the financial viability of Trigon, the timing for the repair or replacement of equipment, the Company’s ability to complete a sale of the Kombat mine, the Company’s strategies and the Company’s abilities to execute such strategies, the economic viability of the Kombat Mine, the Company’s expectations for the Kombat Mine, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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.
