The gold-copper Troilus Project in Quebec, Canada recently delivered a feasibility study showing a long life, large-scale project with AISC of US $1,109 oz/AuEq.

Below are the highlights of the project:

Feasibility Study – base case indicated a 22-year mine life, with total payable metals estimated at 5.4 million oz Au, 381.8 million lbs Cu, and 9.9 million oz Ag.

Metallurgy – Excellent recoveries of all metals, 92.7% Au, 91.8% Ag, and 91.9% Cu.

Metallurgy significantly derisked by previous mining experience with over 2.0 million oz Au produced.

Highly responsive to the rising gold price. – Base case $1,975 oz/Au; April 2024

Average $2,332 oz Au. This represents an 18% increase in gold price, but results in a 76% increase in discounted NPV (@5%) from $884 Million to $1.553 Billion.

Next steps – Submission of the Environmental and Social Impact Assessment (“ESIA”),

advancing the Federal and Provincial permitting processes, and obtaining all final permits to commence construction.

Exploration and Growth – Ongoing exploration, both near the mine and regionally. A

25,000m exploration program is underway at the property which includes: expansion and definition of select targets along the main mineral corridor, condemnation drilling and regional exploration activities.

Premier Location and Resources

Situated in the prolific Frôtet-Evans Greenstone Belt, in Quebec, Canada and north-east of the well-known Abitibi Greenstone Belt, the Troilus Property hosts one of the largest undeveloped gold-equivalent resource (11.21 Moz AuEq* in the Indicated + 1.80 Moz

AuEq* in the Inferred category) mining projects in Canada.

As mentioned in our overview, the recent Feasibility Study indicated a 22 year mine life with an estimated Base Case after-tax NPV (5%) of US $884 million and IRR of 14%, (metal prices $1,975/oz Au, $4.05/lb Cu, $23/oz Ag) and a $USD:$CAD rate of $0.74:1.

Infrastructure and Logistics

The Troilus property is accessible by a network of well-maintained all-season roads, has a 50MW substation and +60 kms of high-tension power lines, a permitted tailings facility, and operating water treatment plants.

A Legacy Revived: Strategic Exploration and Development

A Record of Achieving Milestones – Since the Troilus asset was acquired in 2017, the Company has achieved impressive growth in indicated resources, from 2.05 million Au-Eqv in 2017 to 11.21 million Au-Eqv, a remarkable 447% increase.

The Company has had remarkable success at converting indicated and inferred Mineral Resources to Proven and Probable Mineral Reserves, which contains 6.02 Moz Au, 484 Mlb Cu and 12.15 Moz Ag.

What’s Next for Troilus Gold Corp?

The recent completion of a positive Feasibility Study in May 2024 supports a large, low-cost (AISC US $1,109 oz/Au Eqv) open-pit mining operation.

The Company is moving to the next steps, including submission of the Environmental and Social Impact Assessment (“ESIA”) by the end of 2024, advancing the Federal and Provincial permitting processes, and obtaining all final permits to commence construction.

Ongoing exploration both near the mine and regionally continues for the remainder of 2024.