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Corporate Overview - Troilus Gold Corp

Troilus Gold Corp. (TSX: TLG | OTCQX: CHXMF) is a Canadian development-stage mining company strategically positioned to become one of Canada's next significant gold-copper producers. Based in Toronto, the company is singularly focused on the systematic advancement and potential restart of the former Troilus gold and copper mine, located within the premier Frotêt-Evans Greenstone Belt in Quebec, Canada.

Strategic Position and Geography

Troilus Gold Corp is strategically emerging as a pivotal player in North America's critical minerals sector, systematically advancing the former gold and copper Troilus Mine towards renewed production. Situated within Quebec's tier-one mining jurisdiction, the Troilus Project benefits from an extensive 435 square kilometer land position and leverages significant pre-existing infrastructure, valued at approximately US$500 million. This brownfield development approach substantially de-risks the project by reducing initial capital requirements and accelerating the development timeline.  

The project's strategic importance is amplified by its substantial copper component, which is indispensable for the global energy transition. Copper is a critical mineral for renewable energy systems and electric vehicles, with demand projected to surge by at least 50% by 2050. Troilus's production aligns seamlessly with both Canada's Critical Minerals Strategy and Quebec's Plan for the Development of Critical and Strategic Minerals, which explicitly recognize copper as vital for decarbonization and economic growth. This alignment fosters a highly supportive regulatory and political environment, further stabilizing the project.  

Crucial validation of the project's commercial viability and strategic significance is evidenced by the indicative off-take agreement with Aurubis AG, a leading global copper smelter. This commercial commitment underpins a broader debt financing package of up to US  

700 million, notably bolstered by a US$500 million Letter of Intent for an untied loan guarantee from Euler Hermes, representing the German Federal Ministry for Economic Affairs and Climate Action. This international backing underscores Troilus's role in securing critical raw material supply chains for allied nations, elevating its importance beyond a conventional mining venture. With a robust May 2024 Feasibility Study outlining a 22-year, 50ktpd open-pit operation , a clear development pathway towards a 2026 construction decision and 2029 production , and an experienced team committed to Environmental, Social, and Governance (ESG) principles , Troilus Gold Corp is well-positioned to become a cornerstone producer of critical minerals, contributing significantly to a sustainable, decarbonized future. 

Project Development Status and Operational Strengths

The Troilus Project's development is underpinned by a robust Feasibility Study completed in May 2024. This study confirms the viability of a large-scale, 22-year, 50ktpd open-pit mining operation. The study projects an impressive average life-of-mine production of 303,000 gold equivalent (AuEq) ounces annually, or 135.4 million pounds of copper equivalent (CuEq) annually, with peak annual production reaching 536,400 AuEq ounces or 237.6 million CuEq pounds. These metrics position Troilus as one of the largest undeveloped copper and gold projects in North America. As a "brownfield development," the project benefits significantly from existing infrastructure and historical mining activity, which inherently reduces many of the typical technical risks associated with new ventures.

Business Model and Strategy

Troilus Gold operates as a single-asset company, concentrating all resources and expertise on maximizing the value of the Troilus Project. This focused approach allows for deep specialization and intimate knowledge of the asset, enabling more effective decision-making and resource allocation.

The company's strategy centers on de-risking the project through systematic advancement, comprehensive technical studies, and strategic partnerships. By leveraging the historical production data and existing infrastructure, Troilus aims to minimize development risks while maximizing the project's economic potential.

Engineering and Construction Readiness

Troilus has demonstrated rapid and systematic progress in advancing the project towards construction readiness. A comprehensive review of the May 2024 Feasibility Study led to the finalization of the optimized main process flowsheet on schedule, a critical step supporting the broader detailed engineering timeline. The Engineering, Procurement, and Construction Management (EPCM) contract has been awarded, and the engineering team is fully mobilized. BBA Inc., a leading Canadian engineering firm with over 45 years of experience in the energy, mining, and natural resources sectors, is spearheading this engineering progress. BBA's deep familiarity with the Troilus site, stemming from prior involvement in flotation circuit optimization, and its track record on world-class projects like Canadian Malartic and Detour Lake, provides invaluable expertise. This efficient and accelerated development pathway, moving swiftly from feasibility to detailed engineering, significantly reduces the typical long lead times and execution risks associated with large-scale mining projects. The swift advancement, combined with the benefits of a brownfield site, suggests a higher probability of meeting production targets and capital expenditure estimates, enhancing investor confidence in timely project delivery. Engineering execution is currently on track to support a construction decision in 2026, with full-scale production targeted for 2029.

Conclusion: Troilus Gold Corp – A Pivotal Asset for a Sustainable Future

Troilus Gold Corp is strategically positioned as a large-scale, long-life, copper-gold project within Quebec, a premier tier-one mining jurisdiction. The project's inherent brownfield nature, coupled with its substantial existing infrastructure valued at approximately US$500 million, significantly de-risks its development pathway and enhances its capital efficiency, accelerating its progression towards production. Furthermore, the project benefits from robust alignment with both Canada's national Critical Minerals Strategy and Quebec's provincial Plan for the Development of Critical and Strategic Minerals, positioning it as a key contributor to national and provincial economic growth and environmental objectives.

The project's substantial copper component is not merely a revenue stream; it is indispensable for the global energy transition, directly addressing critical supply gaps for renewable energy technologies and electric vehicles. This strategic necessity elevates Troilus's role beyond that of a conventional commodity producer, making it a foundational enabler of a decarbonized future.

The commercial and financial viability of the Troilus Project has received unparalleled strategic validation through its indicative off-take agreement with Aurubis AG, a leading global copper smelter. This commercial commitment underpins a comprehensive debt financing package of up to US700million,cruciallybolsteredbyaUS500 million untied loan guarantee Letter of Intent from Euler Hermes, representing the German Federal Ministry for Economic Affairs and Climate Action. This significant international backing underscores Troilus's pivotal role in securing vital supply chains for allied industrial nations, thereby enhancing global supply chain resilience for critical minerals.

With a robust Feasibility Study outlining a 22-year, 50ktpd open-pit operation, a clear and accelerated development pathway towards a 2026 construction decision and 2029 production, and an experienced management and technical team committed to strong ESG principles and community relations, Troilus Gold Corp is poised to become a cornerstone producer of critical minerals in North America. Its strategic location, extensive resources, and strong governmental and international partnerships firmly establish Troilus as a key asset in enabling a sustainable and decarbonized global future.