Trifecta Gold Discovers New Zone of Mineralization with 2.34 g/t Gold over 17.7 Metres at the Yuge Gold Project, Nevada

VANCOUVER, November 2, 2021 - Trifecta Gold Ltd. (TSXV:TG) ("Trifecta" or the "Company") is pleased to announce results from the recently completed trenching program at its 100% held Yuge Gold Project, located in Humboldt County, Nevada.

Following up on a successful maiden drill campaign early in 2021, the trenching program was designed to better understand the orientation of structures controlling known mineralization and to test new target areas elsewhere on the property (see map below). Highlights include:

• 17.7 m of 2.34 g/t gold (including 2 m of 6.49 g/t gold) in Trench I, a new discovery;
• 7.4 m of 0.43 g/t gold in Trench D, another new discovery; and,
• 1.0 m of 4.0 g/t Au and 0.5 m of 1.48 g/t Au in Trench F at the Josie Zone.

Trifecta's reverse-circulation drill campaign conducted in early 2021 returned very promising results from 3 targets . Previously released results include:

• 2.27 g/t gold over 38.1 m (including 3.63 g/t gold over 15.24 m) from hole YU-21-02 at the Columbia Zone;
• 0.99 g/t gold over 30.48 m (including 3.4 g/t gold over 6.1 m) from hole YU-21-07 at the Juanita Zone ; and,
• 0.61 g/t gold over 9.14 m (including 2.48 g/t gold over 1.52 m) from hole YU-21-05 at the Josie Zone.

"As we finalize plans for our next drilling campaign at Yuge, the discovery of yet another broad zone of gold mineralization supports our thesis that gold on the property is much more widespread than the high grade veins targeted by historical miners," states Richard Drechsler, President and CEO. "The structural information gathered from our trenching program will help guide the next phase of drilling while additional surface work is planned to advance new discoveries to the drill stage."

Trenches A and B at the Columbia Zone did not conclusively establish the orientation of the mineralization intersected in drill holes, but did identify northerly trending structures, which could be cross-faults or part of a mineralizing shear system.

Trenches C and D are located midway between the Columbia and Juanita zones. Neither trench reached bedrock, but a continuous sample of rock and soil taken from the bottom of the Trench D returned 0.432 g/t over 7.4 m .

Trench E, at the Juanita Zone, was oriented parallel to the drill holes to test for possible easterly trending mineralized structures. The absence of such structures in this trench suggests that the mineralization intersected in YU-21-07 could be associated with north trending structures, but it is also possible that mineralization is hosted in easterly shears cut by northerly cross faults.

Trenches F and G targeted closely spaced northerly trending shear structures at the Josie Zone. Trench F intersected 8 structures over 34 m. Assay results include 1.0 m of 4.0 g/t Au and 0.5 m of 1.48 g/t Au from separate structures located 12 m apart.

Trench I tested an overburden-covered target identified by an isolated rock sample that graded 21.2 g/t Au. The trench discovered a new area of mineralization that does not align with any of the known zones. This discovery lies 500 m east of the closest drill hole and consists of multiple structures that cut highly altered granodiorite. Samples from this exposure averaged 2.34 g/t gold over 17.7 m .

The trenching program helped to better understand structural controls at the Yuge property by adding valuable new information that will help guide future exploration. More importantly, it expanded the scope of the project by discovering two new areas of mineralization.

The Yuge Gold Project

Trifecta's road accessible Yuge Gold Project covers two historical, small scale mines and multiple high grade gold showings, within the Pearl Canyon shear zone. Gold on the property occurs in mesothermal quartz veins and adjacent wall rocks. Historical mining was limited to near surface mineralization (< 30 metre depth) where documented run-of-mine sorted ore assayed greater than 34 g/t gold and reported sampling of a crown pillar returned 16.8 g/t gold over 2.4 m, including 50.7 g/t gold over 0.6 m (Columbia Zone). Based on the deposit model, previous drilling and widespread surface gold mineralization, Trifecta feels there is a high probability that Yuge hosts significant gold resources.

All analyses were performed by ALS Minerals in Reno, Nevada. All samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA24 or Au-AA26) and 48 elements by inductively coupled plasma-mass spectrometry (ME-MS61).

Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.

About Trifecta Gold Ltd.

Trifecta is a Canadian-based precious metals exploration company dedicated to increasing shareholder value through the discovery and development of 100% held gold projects in Yukon and Nevada. Initial drilling at its Yuge Gold Project, located in northern Nevada, has identified multiple broad zones of gold mineralization near historical high grade mines. The Company's Eureka Project hosts an 8 x 2.5 kilometre belt of surface showings and anomalous gold-in-soil that straddle the headwaters of two of the most productive placer creeks in Yukon's southern Klondike Goldfields.

ON BEHALF OF THE BOARD

"Richard Drechsler"

President and CEO

For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:

Corporate Information
Trifecta Gold Ltd.
Richard Drechsler
President and CEO
Tel: (604) 687-2522 ext. 262

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Trifecta Gold Ltd.