Business Description
Our principal business is the exploration and development of our Upper Kobuk
Mineral Projects located in the Ambler mining district in Northwest Alaska,
United States, comprising the (i) Arctic Project, which contains a high-grade
polymetallic volcanogenic massive sulfide (“VMS”) deposit (“Arctic
Project”); and (ii) Bornite Project, which contains a carbonate-hosted
copper deposit (“Bornite Project”). Our goals include expanding
mineral resources and advancing our projects through technical, engineering
and feasibility studies so that production decisions can be made on those projects.
Our UKMP Projects are held by a wholly-owned subsidiary, NovaCopper US Inc.
(“NovaCopper US”) (dba Trilogy Metals US), registered to do business
in the State of Alaska.
Trilogy Metals Inc. was incorporated on April 27, 2011 under the name NovaCopper
Inc. pursuant to the terms of the Business Corporations Act (British Columbia)
(“BCBCA”). NovaCopper Inc. changed its name to Trilogy Metals Inc.
on September 1, 2016 to better reflect its diversified metals resource base.
Our registered office is located at Suite 2600, Three Bentall Centre, 595 Burrard
Street, Vancouver, British Columbia, Canada, and our executive office is located
at Suite 1950, 777 Dunsmuir Street, Vancouver, British Columbia, Canada.
Our business, at its current exploration phase, is cyclical. Exploration activities
are conducted primarily during snow-free months in Alaska. The optimum field
season at the Upper Kobuk Mineral Projects is from late May to late September.
The length of the snow-free season at the Upper Kobuk Mineral Projects varies
from about May through November at lower elevations and from July through September
at higher elevations.
Our business strategy is focused on creating value for stakeholders through
our ownership and advancement of the Arctic Project and exploration of the Bornite
Project and through the pursuit of similarly attractive mining projects. We
plan to:
· advance the Arctic Project towards development with key activities
including increased definition of the NI 43-101 mineral resources, technical
studies to support completion of a pre-feasibility or feasibility study, and
the advancement of baseline environmental studies;
· advance exploration in the Ambler mining district and, in particular,
at the Bornite Project, pursuant to the NANA Agreement (as more particularly
described under “History of Trilogy – Agreement with NANA Regional
Corporation”) through resource development and initial technical studies;
and
· pursue project level or corporate transactions that are value accretive.
The Arctic Project PEA represents an early stage study and highlights certain
opportunities for us to further expand upon. Prior to commencing production,
further studies that demonstrate the economic viability of the Arctic Project
must be completed including pre-feasibility or feasibility studies, all necessary
permits must be obtained, a production decision must be made by our board of
directors (the “Board”), financing for construction and development
must be arranged and construction must be completed.
