Schedule One update - Trident Resources Plc

Trident Resources PLC ("Trident" or the "Company") (to be renamed Trident Royalties PLC which is anticipated shortly)

2 Stone Buildings, Lincoln's Inn, London, England, WC2A 3TH

United Kingdom

www.tridentroyalties.com

Trident is UK incorporated growth-focused diversified mining royalty and streaming company aiming to provide investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals. Trident's board of directors considers mining royalty and stream assets to represent an attractive opportunity for shareholders and new investors, providing exposure to commodity prices with a typically lower risk profile than mining equities, allowing participation in growth from mine development and exploration expenditure, without the associated cost or dilution to the holder of the royalty or stream.

Trident's investing policy, which was approved at the Company's Annual General Meeting on 27 May 2020 and which will become effective on Admission, is to build a diversified portfolio of royalties and streams over mining assets.  Income generated by these assets will be used to make additional investments in order to continue growth, diversification and stability of income, and, once appropriate scale has been reached, to pay dividends to shareholders.

Under a royalty agreement, the holder of a royalty is entitled to receive a payment based on a fixed, sliding-scale or adjusting percentage of minerals, metals or other products produced at a mine or revenues, net proceeds, profits or other financial criteria or reference calculation. No ongoing payment to the owner of the mine is contemplated in a typical royalty agreement.

Stream agreements can be distinguished from royalty agreements insofar as the owner of the stream agrees to make ongoing payments during the life of the stream, on a per unit basis, for the mineral products or contained metal delivered (or credited) from a particular mine. The ongoing per unit price is usually fixed at a substantial discount to the mineral or metal prices prevailing at the time the stream agreement is entered into. The right to receive the stream is usually paid for by way of an upfront payment (though this is sometimes structured as a loan). Streams often, though not always, concern the right to a specific by-product of mining operations (e.g., the right to gold in a primary base metals mine).

The Company believes that this strategy will generate both capital appreciation and attractive dividend returns for its shareholders in due course.

The Company is currently listed on the Official List (Standard Segment) and an application is being made by the Company to cancel that listing.

103,500,000 ordinary shares of £0.01 at an opening price of 20 pence per ordinary share.

There will be no restrictions as to the transfer of the ordinary shares and no ordinary shares will be held in treasury at Admission.

Capital to be raised: £16 million

Anticipated market capitalisation on Admission: approximately £20.7 million

20.2%

N/A

James Edward Trutch Kelly (Non-executive Chairman)

Adam Forrest Davidson (Chief Executive Officer)

Mark Roderick Potter (Non-executive Director)

Albert (Al) Carlisle Gourley (Non-executive Director)

(1) includes (i) 600,000 Ordinary Shares held by Ashanti Capital of which Rob Hamilton is the controlling shareholder (ii) 1,555,295 Ordinary Shares held by Ashanti Investment Fund, which is an unregulated managed investment scheme of which Ashanti Capital is the sole shareholder of the Trustee (Ashanti Investment Fund Pty Ltd), which has the power to make investment decisions ; and (iii) 177,145 Ordinary Shares held directly. Ashanti Capital is also Financial Adviser to Trident.

(2) includes (i) 2,140,395 Ordinary Shares held by Ashanti Capital, (ii) 1,961,795 Ordinary Shares held by Ashanti Investment Fund and (ii) 1,158,589 Ordinary Shares held directly.

None

(i)    31 December

(ii)    N/A - the Company is not including historical financial information in its AIM admission document. The Company's results for the year ended 31 December 2019 were notified on 1 May 2020.

(iii)  For Trident Royalties PLC

Interim accounts for 6 months to 30 June 2020 (by 30 September 2020)

Audited accounts for the year to 31 December 2020 (by 30 June 2021)

Interim accounts to 6 months to 30 June 2021 (by 30 September 2021)

2 June 2020

Grant Thornton UK LLP

30 Finsbury Square

London EC2A 1AG

Tamesis Partners LLP

125 Old Broad Street

London

EC2N 1AR

28 May 2020

Update