Trilogy Metals (NYSE American: TMQ) (TSX: TMQ) reported a net loss of $1.7 million for the three months ended Aug. 31, 2025, compared to a net loss of $1.6 million in the same period last year. The higher loss was primarily driven by environmental baseline work and the start of a core re-boxing program conducted by Ambler Metals LLC, the Company’s 50/50 joint venture with South32 Ltd. (ASX, LSE, JSE: S32; ADR: SOUHY). For the nine months ended Aug. 31, 2025, Trilogy reported a net loss of $7.5 million versus $7.0 million in 2024, reflecting increased regulatory and legal expenses related to its base shelf prospectus and at-the-market (ATM) program. The Company ended the quarter with $23.4 million in cash and working capital, sufficient to fund operations for the next 12 months. Ambler Metals completed its summer field program at the Bornite site, including environmental monitoring and a multi-year core re-boxing initiative, on time and on budget.
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About Trilogy Metals
Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects in northwestern Alaska . On December 19, 2019 , South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide (“VMS”) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy’s vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.
NOTE TO INVESTORS: The latest news and updates relating to TMQ are available in the company’s newsroom at https://ibn.fm/TMQ
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