14 January 2022

Trident Royalties Plc

("Trident" or the "Company")

Inaugural Revenue Received under Gold Offtake Streams

Trident Royalties Plc (AIM:TRR), the growth-focused mining royalty and streaming company, is pleased to announce that following the completion of the acquisition of producing gold offtake streams (the "Portfolio") announced on 11 January 2022, Trident has generated its inaugural cash flow under the streams.

Trident acquired 1,858 ounces of gold and subsequently sold for a margin of $30.68/oz, resulting in total cash flow of $57,001 and a NSR equivalent margin of 1.69%¹ for the batch, well in excess of Trident's long term base case assumption on acquisition of the Portfolio.

Going forward, Trident will update shareholders of cumulative cash flow generated under the offtakes in the Company's quarterly activities announcements.

Adam Davidson, Chief Executive Officer of Trident commented:

"It is pleasing to note that deliveries to Trident under the contracts have now commenced, with this delivery being the first of multiple deliveries and regular sales expected to occur on a weekly basis going forward.

"The acquisition of the Portfolio provides Trident with immediate revenue, underpinned by a portfolio of high-quality producing gold projects which significantly enhance the scale and diversification of Trident's revenue base. Trident is well positioned for future growth with nine cash flowing assets complementing our portfolio of advanced and development stage royalties, most notably the Thacker Pass lithium royalty. The combination of increased cashflow and our newly established debt facility, provide Trident with ample access to capital to pursue additional accretive transactions without the near-term requirement to access equity markets."

Notes 

1.     Margin of $30.67/oz divided by realised gold sales price of $1,820/oz

** Ends **

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Forward-looking Statements

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Trident provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Trident believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Trident will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.

Third Party Information

As a royalty and streaming company, Trident often has limited, if any, access to non-public scientific and technical information in respect of the properties underlying its portfolio of royalties and investments, or such information is subject to confidentiality provisions. As such, in preparing this announcement, the Company often largely relies upon information provided by or the public disclosures of the owners and operators of the properties underlying its portfolio of royalties, as available at the date of this announcement. No content of any third-party website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this Announcement.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.