Name of the Project
Troilus copper/gold project.

Location
Frôtet-Evans greenstone belt in north-central Quebec, Canada.

Project Owner/s
Canadian project developer Troilus Gold Corp.

Project Description
The Troilus project comprises four main zones of mineralisation, located on a north-east/south-west trend covering about 7 km.

These deposits will be mined using conventional openpit mining methods over a 22-year period. Ore will be processed in a flotation mill to produce gold-rich copper concentrate for sale to a smelter, with provision for gravity gold recovery to produce doré after Year 1.

Life-of-mine (LoM) average payable gold production is estimated at 244 600 oz/y, 17.3-million pounds a year of copper and 446 700 oz/y of silver.

Peak payable gold production is estimated at 456 100 oz/y,  31.8-million pounds of copper and 613 600 oz of silver in Year 7.

The project proposes an openpit mine processing 50 000 t/d – a 43% larger-scale operation than the 35 000 t/d processing rate contemplated in the 2020 preliminary economic assessment.

Total LoM total payable gold is estimated at 5.4-million ounces, 382-million pounds of copper and 9.9-million ounces of silver.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $1.56-billion and an internal rate of return of 18.1%, with an after-tax payback of  5.7 years.

Capital Expenditure
Initial capital expenditure is estimated at $1.07-billion.

Planned Start/End Date
Construction decision is expected in 2026.

Latest Developments
Troilus Gold has announced a C$150-million bought deal public offering, marking a significant step in advancing the project towards a construction decision.

Under the agreement with Desjardins Capital Markets, Cormark Securities and Haywood Securities, the underwriters will acquire 116.28-million common shares at C$1.29 each, with an option to acquire up to an additional 15% to cover over-allotments.

The net proceeds will fund ongoing predevelopment work, repaying debt, and providing working capital and general corporate funds, the company has said.

Troilus has made strong financing progress this year, securing $1.3-billion in indicative support from global export credit agencies, establishing a mandated $700-million debt package led by international lenders, and agreeing to indicative offtake terms with European smelters Aurubis and Boliden.

The company filed its environmental- and social-impact assessment with provincial and federal regulators in June 2025 after more than five years of environmental studies and consultation with local and Indigenous communities.

Basic engineering, led by BBA of Montréal, is now more than 85% complete, positioning Troilus to progress into detailed execution ahead of a targeted 2026 construction decision.

Troilus continues to assess potential streaming and vendor-backed financing options, with final due diligence on its debt financing expected to conclude in early 2026.

The offering is expected to close on about November 14, 2025, subject to customary approvals, including from the TSX.

Key Contracts, Suppliers and Consultants
BBA of Montréal (basic engineering).

Contact Details for Project Information
Troilus Gold Corp, tel +1 647 276 0050 or email  info@troilusgold.com.