Board Appointment

4 May 2020

Trident Resources Plc

("Trident" or the "Company")

Board appointment

Trident is pleased to announce the appointment of Albert ("Al") Gourley as a non-executive director of the Company with immediate effect.

Mr Gourley is the London Managing Partner of Fasken Martineau, an international law firm, where his practise focuses on finance and asset transactions in the natural resource industry. Mr. Gourley has served as a director of several TSX, TSX-V and AIM mining and mineral exploration companies such as Diamond Fields Resources Inc. and a company that was acquired by Franco-Nevada for its gold royalty on the Newmont Ahafo Mine in Ghana. Mr. Gourley has direct mining industry experience having worked for the Noranda Group (1992 to 1995) and having served as CEO of an AIM-listed industrial mineral producer (2011 to 2012).

Mr Gourley is a member of the Law Society of England and Wales, a member of the Ontario Law Society and Chairman of the Board of the World Association of Mining Lawyers (WAOML), whose Advisory Council he led from the date of its formation in 2014 until 2018. Mr. Gourley holds a BBA from Schulich School of Business and an LLB from the University of Ottawa.

Mr Gourley currently holds, indirectly through Albert C. Gourley Professional Corporation, 1,300,000 ordinary shares in the Company, representing 5.9% of the issued ordinary share capital.

James Kelly, Non-executive Chairman of Trident said: "I am delighted that Al has agreed to join the board of Trident. Al brings vast experience in mining finance and asset transactions, including in respect of numerous royalty and streaming transactions. I am in no doubt that his experience will be invaluable as we execute our strategy of building a growth focused, diversified royalty and streaming company. "

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About Trident

As announced on 25 March, 2020, Trident has entered into a definitive purchase agreement to acquire a significant, cash generative royalty over part of the Koolyanobbing iron ore mine operated by Mineral Resources Ltd (ASX: MIN) in Western Australia (the "Acquisition").

The Acquisition will initiate the establishment of Trident as a new, growth-focused diversified mining royalty and streaming company, aiming to provide investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals.

Key highlights of Trident's strategy include: 

· Constructing a royalty and streaming portfolio to broadly mirror the commodity exposure of the global mining sector (excluding thermal coal) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals; 

· Acquiring royalties and streams in resources-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America; 

· Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;

· Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;  

· Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and 

· Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions. 

The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.

As the Acquisition will constitute a change in strategic mandate and there is insufficient publicly available information about the proposed transaction, Trident's shares will be suspended both from trading on the Main Market of the London Stock Exchange (the "LSE") and from listing on the Official List (Standard Segment) of the FCA with immediate effect. On completion, Trident intends to seek the cancellation of the admission of its Ordinary Shares from the Official List of the FCA (Standard Segment) and their trading on the LSE's main market, and seek admission to trading on the AIM Market of the LSE ("AIM"), which the Directors consider to be a more suitable market and regulatory environment for a growth-focused royalty and streaming company. Concurrent with the proposed admission to AIM, Trident intends to conduct a financing and change its corporate name to Trident Royalties Plc. It is anticipated that admission to trading on AIM will complete in 1H 2020.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.