Troilus Mining Corp.

Troilus Mining Corp.

Troilus Mining Corporation is a Canadian development-stage mining company focused on the responsible advancement of its flagship gold and copper Troilus Project in north-central Quebec. Located within the prolific Frôtet-Evans Greenstone Belt, the 435 km² property hosts one of the largest undeveloped gold-copper deposits in North America.

Following a successful history of production (1996–2010), Troilus is now being redeveloped as a long-life, open-pit operation, supported by strong infrastructure and a clearly defined path to production.

A Feasibility Study completed in May 2024 supports a generational scale 22-year mine life at 50,000 tonnes per day, with projected average annual production of 303,000 oz of gold equivalent (or 135.4 million lbs of copper equivalent)*. The Project stands out as one of the largest and most attractive development-stage assets in Canada.

With permitting well underway, a strong technical and financial foundation, and long-term stakeholder support, Troilus is advancing toward construction with the goal of delivering lasting value to shareholders and communities.

Corporate & Project Highlights

Past-Producing Site, with Excellent Infrastructure

Troilus operated from 1996 to 2010 and retains significant legacy infrastructure worth ~US$500 million, including: 50MW substation and power lines, permitted tailings facility, water treatment systems, well-maintained road network.

Robust Feasibility Supports Large-Scale Production

Feasibility Study (May 2024): 22-year mine life, 50,000 tpd open-pit operation, 303,000 oz AuEq/year (avg.)

The Feasibility Study is based on a Probable Mineral Reserve estimate of 380Mt grading 0.59 g/t gold equivalent (0.49 g/t Au, 0.058% Cu and 1.0 g/t Ag) for a contained 7.26Moz AuEq (6.02 Moz Au, 484 Mlbs Cu and 12.2 Moz Ag);

Exceptional Resource Growth

Troilus is one of largest undeveloped gold-copper deposits in North America. The latest  Mineral Resource Estimate from late 2023, estimates 11.21 Moz AuEq* in the Indicated category + 1.80 Moz AuEq* in the Inferred category (view complete results here); an impressive 447% increase in AuEq ounces since Troilus was formed in 2018;

Permitting Momentum

• Federal and Provincial permitting underway since 2022
• Environmental and Social Impact Assessment (ESIA) filed in June 2025
• Permitting decision expected end of 2026, early 2027.

Experienced Leadership, Strong Balance Sheet

• Led by a team with a track record of successful mine development
• Troilus has remained well-capitalized since inception
• Backed by a strong institutional shareholder base of ~60%, including major global resource funds and ~10% Quebec-based funds

*Please note the following AuEq disclosure:CuEq recovered metal assumes a 92% recovery rate for all metals.Indicated: 508.3 Mt at 0.69 g/t AuEq ; Inferred: 80.5 Mt at 0.69 g/t AuEq. Cut off grades are based on $US 1,850/ oz Au; $4.25/lb Cu, and $23.00/ oz Ag; with an exchange rate of US$1.00: CAD$1.30. Recoveries varied with an average of 90% Gold, 92.5 % Silver and 91.8% copper without considering revenues from other metals. AuEq formulas are calculated as follows: Z87 Zone : AuEq = Au grade + 1.5628 * Cu grade + 0.0128 * Ag grade; J Zone : AuEq = Au grade + 1.5107 * Cu grade + 0.0119 * Ag grade; X22 Zone : AuEq = Au grade + 1.5628 * Cu grade + 0.0128* Ag grade; SW Zone : AuEq = Au grade + 1.6823 * Cu grade + 0.0124 * Ag grade.