Page 1

TRILOGY metals inc Exhibit 99.1 Trilogy Metals Reports Third Quarter Fiscal 2026 Financial Results NYSE American / TSX Symbol : TMQ VANCOUVER , BC , Oct. 2 , 2026 / CNW / -- Trilogy Metals Inc. ( NYSE American : TMQ ) ( TSX : TMQ ) ( " Trilogy Metals " , " Trilogy " or the " Company " ) announces its financial results for the third quarter ended August 31 , 2026. Details of the Company's financial results are contained in the interim unaudited consolidated financial statements and Management's Discussion and Analysis which will be available on the Company's website at www.trilogymetals.com , on SEDAR + at www.sedarplus.ca and on EDGAR at www.sec.gov . All amounts are in United States dollars unless otherwise stated . Financial and Operational Highlights • Cash balance of $ 31.2 million as at August 31 , 2026 , with adjusted working capital of $ 30.3 million , providing financial flexibility to fund the Company's share of Upper Kobuk Mineral Projects ( " UKMP " ) initiatives , with the Company's share of Ambler Metals LLC's ( " Ambler Metals " ) fiscal 2026 budget substantially funded . • Publication of a coordinated federal and state permitting schedule for the Arctic Project on the Federal Permitting Dashboard on July 13 , 2026. The schedule sets an estimated 29 - month integrated review timetable targeting a Record of Decision in September 2028 , confirms the U.S. Army Corps of Engineers ( " USACE " ) as lead federal agency , and integrates State of Alaska permitting under the first statewide FAST - 41 Memorandum of Understanding in the nation . ⚫ Closing of the DOW $ 35.6 million strategic equity investment subsequent to quarter end on September 11 , 2026. The full proceeds received by Trilogy Metals and South32 Limited ( " South32 " ) are committed to Ambler Metals to advance exploration and development of the UKMP in northwestern Alaska , and the DOW has committed to work in good faith to help facilitate financing required for construction of the proposed 211 - mile , industrial - use - only Ambler