TMQ

EX-99.1

2 ex991.htm

NEWS RELEASE DATED JULY 8, 2026

Exhibit 99.1

Trilogy Metals Reports Second Quarter Fiscal 2026 Results and Provides Update on Federal Permitting Progress and Project Advancement

VANCOUVER, BC, July 8, 2026 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or the "Company") announces its financial results for the second quarter ended May 31, 2026, and provides an update on the federal permitting process for the Arctic Project, project advancement at the Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska, and the broader regulatory and policy environment supporting domestic critical minerals development. Details of the Company's financial results are contained in the interim unaudited consolidated financial statements and Management's Discussion and Analysis which will be available on the Company's website at www.trilogymetals.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. All amounts are in United States dollars unless otherwise stated.

Financial and Operational Highlights

•Strong cash balance of $38.8 million as at May 31, 2026, with adjusted working capital of $38.3 million, providing the financial flexibility to fund the Company's share of UKMP project initiatives.

•The flagship Arctic copper-zinc-lead-gold-silver project accepted as a "Covered Project" under Title 41 of the Fixing America's Surface Transportation Act ("FAST-41") federal permitting program on May 15, 2026, placing it on the Federal Permitting Dashboard with a coordinated, publicly tracked federal review schedule as it advances toward the National Environmental Policy Act ("NEPA") process.

•Commencement of federal permitting for the Arctic Project, with Ambler Metals LLC ("Ambler Metals") filing a Clean Water Act Section 404 permit application with the U.S. Army Corps of Engineers in April 2026, initiating federal permitting for mine development and operations.

•Commencement of the fully funded 2026 summer field program at the UKMP announced on June 9, 2026, with crews mobilized to site, as well as two diamond drill rigs supporting geotechnical, hydrogeological, and exploration drilling at Arctic toward a construction decision, alongside Bornite camp upgrades and district-wide target assessment along the 100-kilometer-long (60-mile-long) volcanogenic massive sulphide ("VMS") belt.

•Second amendment to the U.S. Department of War ("DOW") strategic investment letter of intent, extending the deadline for completion of the approximately $35.6 million transaction from May 31, 2026, to July 31, 2026, to account for the time required to finalize definitive documentation.

•Annual General Meeting held on May 13, 2026, with all directors nominated by the Company re-elected by shareholders, each receiving greater than 85% of the votes cast.

•Ron Rimelman appointed President of Ambler Metals to lead the joint venture through permitting and development.

Tony Giardini, President and CEO of Trilogy Metals, commented: "The second quarter marked a pivotal step forward for the Arctic Project. Acceptance into the FAST-41 program is one of the most significant milestones in the project's history, placing Arctic on the Federal Permitting Dashboard with a defined, transparent, and coordinated federal review schedule as we advance toward the NEPA process. The United States currently imports a substantial share of its copper supply from foreign nations, and the FAST-41 framework recognizes the Arctic Project as a nationally important critical minerals asset that can help address that strategic vulnerability. With federal permitting underway for Arctic, our fully funded 2026 field program and drilling commenced, and Ron Rimelman now leading Ambler Metals as President, we are advancing one of the world's highest-grade undeveloped polymetallic deposits on a clear pathway toward a construction decision."

Selected Results

The following selected financial information is prepared in accordance with U.S. GAAP.

in thousands of dollars, except per share amount

Three months ended May 31, Six months ended May 31,

2026

2025

Change

2026

2025

Change

$

$

$

$

$

$

Exploration expenses

9

-

9

34

-

34

General and administrative

430

353

77

997

696

301

Investor relations

39

18

21

107

34

73

Professional fees

475

612

(137)

786

1,059

(273)

Salaries

502

316

186

1,118

523

595

Salaries and directors expense - stock-based compensation

674

367

307

3,770

2,597

1,173

Share of loss on equity investment

2,334

764

1,570

3,677

1,345

2,332

Loss on derivatives carried at fair market value

2,277

-

2,277

3,791

-

3,791

Interest and other income

(410)

(253)

(157)

(829)

(443)

(386)

Comprehensive loss for the period

(6,345)

(2,177)

(4,168)

(13,408)

(5,800)

(7,608)

Basic and diluted loss per common share

(0.04)

(0.01)

(0.03)

(0.08)

(0.04)

(0.04)

For the three-month period ended May 31, 2026, the

Company reported a net loss of $6.3

EX-99.1

2 ex991.htm

NEWS RELEASE DATED APRIL 2, 2026

Exhibit 99.1

Trilogy Metals Reports First Quarter Fiscal 2026 Results and Provides Update on U.S. Federal Strategic Investment and Project Advancement

VANCOUVER, BC, April 2, 2026 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or the "Company") announces its financial results for the first quarter ended February 28, 2026, and provides an update on the U.S. federal strategic investment, project advancement at the Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska, and the broader regulatory and policy environment supporting domestic critical minerals development. Details of the Company's financial results are contained in the interim unaudited consolidated financial statements and Management's Discussion and Analysis which will be available on the Company's website at www.trilogymetals.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. All amounts are in United States dollars unless otherwise stated.

Financial and Operational Highlights

•Strong cash balance of $47.8 million as at February 28, 2026, providing significant financial flexibility.

•Continued advancement of the approximately $35.6 million U.S. federal strategic investment, reflecting the strategic importance of the UKMP to domestic critical mineral supply chains; the binding letter of intent with the U.S. Department of War ("DOW") provides for an investment of approximately $35.6 million, $17.8 million of which is payable to the Company to acquire common shares of the Company (the "Common Shares") and warrants of the Company (the "Warrants") and $17.8 million of which is payable South32 to acquire previously issued Common Shares and a call option to acquire previously issued Common Shares, subject to satisfaction of applicable conditions.

•Expanded senior management and operational capacity at Ambler Metals LLC ("Ambler Metals"), the Company's 50/50 joint venture with South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32"), including four new appointments, to support the 2026 work program and accelerate permitting and technical activities.

•U.S. Department of the Interior opened approximately 2.1 million acres to mineral entry through Public Land Order 7966, including federal lands along the Ambler Access Project (or "Ambler Road") corridor, removing future uncertainty over land status.

•U.S. Interior Secretary indicated the White House is actively considering participating in Ambler Road financing, potentially as an equity partner, reinforcing the federal government's commitment to critical mineral infrastructure in Alaska.

•2026 field season preparations underway for the approved $35 million Ambler Metals work program, including geotechnical and condemnation drilling at Arctic and reopening of the Bornite camp for multi-year exploration use.

•Annual General Meeting scheduled for May 13, 2026 in Vancouver, British Columbia.

Tony Giardini, President and CEO of Trilogy Metals, commented: "The first quarter of fiscal 2026 has been a period of accelerating execution across all fronts. We are building the organizational capabilities at Ambler Metals needed to advance the UKMP through its next development phases, while the U.S. federal government continues to demonstrate strong and tangible support for domestic critical mineral production. The opening of approximately 2.1 million acres along the Ambler corridor and public statements by the Interior Secretary regarding potential federal participation in road financing represent meaningful progress toward de-risking the access infrastructure for the project. With our 2026 field program fully funded, our Ambler Metals team in place, and permitting preparations advancing, we are well positioned for a productive year."

Selected Results

The following selected financial information is prepared in accordance with U.S. GAAP.

in thousands of dollars, except per share amount

Three months ended

February 28, 2026

February 28, 2025

Change

$

$

$

Exploration expenses

25

-

25

General and administrative

567

343

224

Investor relations

68

16

52

Professional fees

311

447

(136)

Salaries

616

207

409

Salaries and directors expense - stock-based compensation

3,096

2,230

866

Share of loss on equity investment

1,343

581

762

Loss on derivatives carried at fair market value

1,514

-

1,514

Interest and other income

(419)

(190)

(229)

Comprehensive loss for the period

(7,063)

(3,623)

(3,440)

Basic and diluted loss per common share

(0.04)

(0.02)

(0.02)

For the three-month period ended February 28, 2026,

the Company reported a net loss of $7.1 million compared to a net loss of $3.6 million for the three-month period ended February 28, 2025. The increase in net loss is primarily driven by two non-cash items: i) the mark-to-market fair value adjustment of $1.5 million for the derivative liability related to the Company's obligation to issue Common Shares and Warr

false 0001543418 A1

0001543418

2026-02-17 2026-02-17

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xbrli:shares

iso4217:USD

xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 17, 2026

Trilogy Metals Inc.

(Exact name of registrant as specified in its charter)

British Columbia 001-35447 98-1006991

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number)

Suite 901, 510 Burrard Street

Vancouver, British Columbia

Canada, V6C 3A8

(Address of principal executive offices, including zip code)

(604) 638-8088

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.24d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.23e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Shares TMQ

NYSE American

Toronto Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition

On February 17, 2026, Trilogy Metals Inc. (the “Company”) issued a press release reporting financial results for the fiscal year and fourth quarter ended November 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01Regulation FD Disclosure

On February 17, 2026, the Company issued a press release reporting financial results for the fiscal year and fourth quarter ended November 30, 2025.

A copy of the press release is furnished as Exhibit 99.1 to this report. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing

Item 9.01Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description

99.1 Press release, dated February 17, 2026

104 Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TRILOGY METALS INC.

Dated: February 17, 2026 By: /s/ Elaine Sanders

Elaine Sanders, Chief Financial Officer