Trilogy Metals announces $35M 2026 JV budget; corporate budget $5M, cash over $50M

Trilogy Metals Inc.

Ambler Metals JV approved ~$35M 2026 budget to advance Upper Kobuk Mineral Projects, targeting mine permit submissions in 2026.
Trilogy Metals 2026 corporate budget ~$5M; cash position >$50M as of Dec 2025.
In Oct 2025, sold 3,513,495 shares under ATM at avg $7.12/share, raising ~$25M gross proceeds.
Expects additional ~$35.6M from US federal government transaction closing in early 2026.
2026 work includes geotechnical drilling, camp upgrades, and re-establishing independent management team.

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