Trilogy Metals Executes Definitive Agreements With The U.S. Department Of War In Connection With The Previously Announced Strategic Equity Investment Of ~$35.6M To Advance Exploration And Development Of The Upper Kobuk Mineral Projects In Northwestern Alaska

VANCOUVER, BC, Aug. 28, 2026 /CNW/ -- Trilogy Metals Inc. (NYSE:TMQ) (TSX:TMQ) ("Trilogy Metals", "Trilogy" or the "Company") announced today that it has executed definitive agreements with the U.S. Department of War (the "DOW" or "U.S. Government") in connection with the previously announced strategic equity investment of approximately US$35.6 million to advance exploration and development of the Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska.

The execution of the definitive documentation reflects the terms of the transaction previously announced by the Company and marks the final major step ahead of closing. Subject to the satisfaction or waiver of customary closing conditions, the Company expects the transaction to close in September 2026.