Trillium Gold to Accelerate Exploration; Maximize Unique Land Position Advantages in Red Lake, Ontario

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX: TGLDF) (FSE: 0702) ("Trillium" or the "Company") is pleased to provide details of its exploration focus and next steps for growing shareholder value. Having successfully completed its merger with Pacton Gold, the Company is positioned to emerge as a dominant explorer in the famous Red Lake Mining District - home to major gold producers such as Kinross Gold and Evolution Mining. With the largest, most strategic land position in the District, the Company plans to roll out aggressive exploration programs at key locations, including the Newman Todd project which features no less than 10 high-grade gold zones and recent drilling intercepts with bonanza grades.

Company Highlights

Strategic Position Unique to Red Lake. Bordering five mines and advanced projects, including Evolution's Red Lake operations, Kinross' Dixie project and First Mining's Springpole project.

• Major Mineralization with Expansion Potential. Newman Todd project hosts 10 high-grade zones along a 2.1 km strike, including a large and shallow historic 43-101 compliant resource estimate.

• High Grades on Property. The last two holes press released at Newman Todd encountered bonanza grades such as NT22-211 with 40.56 g/t Au over 4.18 m, including 214 g/t au over 0.30 m and NT22-212 with 8.75g/t Au over 20.4m, including 549 g/t Au over 0.3 m.

• Extensive Drill Results and Sampling Database Including Numerous Exploration Hotspots. Over $60 million has been spent exploring this remarkable portfolio, with survey, mapping, sampling, and drill results covering over 89,600 ha.

• Joint Venture with Evolution Mining. Sidace project is jointly owned with Red Lake's senior producer and includes three high-grade zones, each of which is open along strike and at depth.

• Additional Upside from Critical Metals. While the portfolio is primarily focused on gold, work programs have previously encountered significant occurrences of critical metals.

Nav Dhaliwal, President, CEO and Director of Trillium, commented, "With the Pacton Gold merger complete, the way is paved for the Company to become an exploration powerhouse in the Red Lake Mining District. Our unique strategic position, enriched by major mineralization, high grades, and a robust exploration database, creates an unprecedented opportunity for accelerated growth. Our plans include a significant drill program, targeting the promising zones on the Newman Todd project, while also exploring potential at our extensive regional land package. This is a momentous time for our company as we embark on this new phase of exploration and value creation."

Exploration Strategy

The Company plans to conduct a significant drill program expected to commence by September. The campaign will include expansion drilling at the Newman Todd project, where minimal drilling has been conducted below 400 m and along strike of existing zones. In previous drilling at Newman Todd, more than 40% of holes have intersected grades more than 20 g/t Au over a variety of intervals, which suggests an extensive, strongly mineralized system with room for expansion. Drilling will also be conducted at high priority regional targets on the newly combined land package including the Confederation, Gullrock and Main Red Lake properties.

Additionally, the Company will be following up on previously identified occurrences of critical minerals. The business case and growth prospect for battery metals is robust, and both the federal and provincial governments are aggressively supporting the growth of domestic battery supply chains.

Dale Ginn, P.Geo., Executive Chairman & Director of Trillium, is a Qualified Person as defined under NI 43-101. Mr. Ginn has reviewed and approved the scientific and technical information in this press release.

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. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The recent completion of the acquisition of Pacton Gold Inc. extends Trillium's ownership in Red Lake to over 89,600 hectares of prospective and diversified exploration properties with significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today. A portfolio of prospective projects in Western Australia has also been acquired.

Visit Trillium's website at www.trilliumgold.com.

For further information, please contact:

Trillium Gold Mines Inc.

Nav Dhaliwal
President, CEO and Director

info@trilliumgold.com
Tel: 604-678-5308

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.

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Such forward-looking statements include, without limitation, statements regarding the expected use of proceeds of the Loan. 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 expectations. Forward-looking information is based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include the ability to obtain required approvals from the TSX Venture Exchange.

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