Trifecta Gold Drills 3.03 g/t gold over 25.91 metres at the Yuge Gold Project, Nevada

VANCOUVER, May 3, 2022 - Trifecta Gold Ltd. (TSX-V:TG) ("Trifecta" or the "Company") is pleased to announce complete drill results from its 100% held, road accessible Yuge Gold Project, located in Humboldt County, Nevada.

In early 2022, Trifecta completed 7 reverse circulation ("RC") drill holes totalling 826.0 metres at Yuge, with 4 holes targeting the Columbia Zone and 3 holes targeting the Juanita Zone.

Columbia Zone

Drilling at Columbia Zone was designed to expand upon mineralization intersected in YU-21-02, which returned 2.27 g/t gold over 38.1 m including 2.89 g/t gold over 9.14 m from 79.25 m and 3.63 g/t over 15.24 m from 94.49 m as announced March 18, 2021. RC holes YU-22-08 to -11 targeted piercement separations of 40-50 metres on the plane of the mineralized structure (see attached figures). Highlights from 2022 drill holes include:

• 3.03 g/t gold over 25.91 m from 79.25 m downhole (including 13.57 g/t gold over 4.57 m) in hole YU-22-09,
• 0.86 g/t gold over 9.14 m from 53.34 m downhole (including 3.73 g/t gold over 1.52 m) in hole YU-22-10,
• 4.2 g/t gold over 10.67 m from 77.72 m downhole (including 13.26 g/t gold over 3.05 m) in hole YU-22-11, previously released and,
• 11.96 g/t gold over 3.05 m from 105.16 m downhole also in hole YU-22-11 previously released.

These results further confirm that a broad envelope of gold mineralization flanks the high-grade vein identified by historical miners at Columbia and that a second high-grade vein parallels the historical structure.

Significant assays obtained from drilling at the Columbia Zone in 2021 and 2022 are tabulated below:

*Previously released

Additionally, holes YU-22-09 and YU-22-11 contained elevated silver, including 4.57 m grading 75 g/t silver (from 99.06 m in YU-22-09), and 1.54 m grading 78 g/t silver (from 106.7 m in YU-22-11).

Including two historical diamond drill holes, seven of nine holes drilled at the Columbia Zone have intersected significant mineralization. Hole YU-21-01 was abandoned short of target depth while YU-21-03 appears to have been drilled on the north side of a fault that offsets the zone approximately 160 metres to the northeast based on surface showings and geologic mapping. The Columbia Zone remains open to extension in both directions along strike and to depth.

Juanita Zone

Drilling at the Juanita Zone was designed to expand upon gold mineralization intersected in YU-21-07, which returned 30.48 m grading 0.99 g/t gold, including 6.1 m of 3.44 g/t gold, starting 60.96 m downhole. YU-22-14 was drilled 46 metres down dip of YU-21-07 and ended in 22.86 m grading 0.23 g/t gold. This hole was terminated short of the target depth due to mechanical issues, the last sample grades 0.52 g/t gold over 1.52 m. YU-22-13 drilled towards the west, from the same site as YU-22-14 reported broad intervals of epidote alteration, but gold grades were generally low. YU-22-12 did not reach target depth.

Significant assays from 2021 and 2022 drill holes at the Juanita Zone are tabulated below:

*Previously released

**End of hole, terminated short of target depth

Holes YU-22-12 and YU-22-14 encountered a previously unrecognized fault that forced the early termination of both holes.

Results from soil sampling conducted during the 2022 drilling campaign have now been received and are being compiled along with data from previously completed geophysical surveys. These data are being modelled along with data from geological mapping, trenching and drilling and will be announced in a future news release that will also include plans for follow up exploration.

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 Vancouver, British Columbia. 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).

Historical data cited in this press release is based on reports by Homestake Mining Company, Westamerica Enterprises and Extension Energy Inc. This data has not been independently verified by Trifecta but has been checked for internal consistency and against Nevada Bureau of Mines and U.S. Bureau of Mines public domain data.

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

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.