Company Announcements

10 October 2022

Trident Royalties Plc

("Trident" or the "Company")

Portfolio Update: Thacker Pass Lithium Project

Trident Royalties Plc (AIM:TRR), the diversified mining royalty company, is pleased to note a recent update on the Thacker Pass lithium project ("Thacker Pass" or the "Project"), in Nevada, by the project operator, Lithium Americas Corp. ("LAC")¹. Trident holds a 60% interest in a gross revenue royalty over the entirety of the Project.

Following the completion of briefings on August 11, 2022, the US District Court, District of Nevada ("Federal Court") has scheduled an oral hearing for January 5, 2023.

Jonathan Evans, President and CEO of LAC, commented to LAC for the purposes of their announcement¹:

"With all state and federal permits received to begin construction, the ruling on Thacker Pass' ROD represents the final regulatory hurdle to move forward the largest and most advanced lithium chemicals project in the US.

We stand ready to develop a critical source of lithium supply, creating jobs and enabling a more sustainable battery ecosystem in North America. As we await a ruling by the Federal Court, we are moving ahead with all areas required to support construction, including final selection of an EPCM contractor, evaluating partnership and supply agreements, as well as progressing our application with the US Department of Energy loan program."

Adam Davidson, Chief Executive Officer of Trident commented:

"We are pleased to note the advancement of the next step in the appeal process which, whilst progressing slower than initially envisaged, is now scheduled and continues the process toward resolution.

We note LAC's success since the appeal was launched in 2021, with all four injunction requests and subsequent motions to reconsider being denied by the Federal Court, and the reaffirmation of the previously approved Water Pollution Control Permit ruling by the Nevada State Environmental Commission by denying an appeal in a 5-0 decision.

Thacker Pass remains one of the largest and most advanced lithium projects in the US and a key component in the US governments ambitions to secure access to key critical minerals"

References

1              Source: Lithium Americas Corp. announcement dated 7 October 2022

( https://www.lithiumamericas.com/news/lithium-americas-confirms-oral-hearing-schedule-for-the-thacker-pass-record-of-decision-appeal )

** Ends **

Contact details:

About Trident

Trident is a growth-focused diversified mining royalty and streaming company, providing investors with exposure to a mix of base battery, precious, and bulk metals.

Key highlights of Trident's strategy include:

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.

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.