Update On Recent Positive Developments To Advance Ambler Access Project

VANCOUVER - Trilogy Metals Inc. reported on the Ambler Access Project (AAP) – the proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects (UKMP) to the Dalton Highway that will enable advancing exploration and development at the Ambler Mining District, home to some of the world's richest known copper-dominant polymetallic deposits. It is envisioned that the AAP would be financed and maintained by the Alaska Industrial Development and Export Authority (AIDEA), and that companies such as Ambler Metals LLC - 50/50 joint venture with South32 Limited, would enter into commercial agreements to use the road and pay tolls to AIDEA and its financing partners.

In March 2023, the Board of Ambler Metals approved funding in the amount of $12.3 million to support AIDEA's efforts to advance the AAP. The total budget of $24.6 million, funded equally by AIDEA and Ambler Metals, will support this year's program consisting of field studies, permitting and data collection, as well as work to support the United States Bureau of Land Management's completion of additional work to reinstate the permits for the road.

AIDEA is focused on the startup of the field work where they plan on utilizing two camps at Coldfoot and Bornite. AIDEA plans to utilize the Coldfoot camp from May to mid-September and the Bornite camp from mid-June to August. The planned field program will consist of cultural resource inventory surveys and testing of sites over approximately 765 acres, hydraulic and hydrology studies at 47 bridge crossings to assess conditions for area drainage, culvert placement and bridge design, collecting topographical and bathymetric survey data to support bridge data and fish passage culverts, engineering reconnaissance surveys and fish habitat investigations on over 100 sites. In addition, AIDEA continues engaging in stakeholder outreach with plans of up to 20 job fairs and community meetings this year.