Troilus Drills 3.38 g/t AuEq Over 22 m Within 129.05 m at 0.95 g/t AuEq from Inferred Target in the Z87 Reserve Pit

Troilus Mining Corp. (TLG) has released the fourth batch of drilling results from its Z87 optimization program, comprising nine holes that total 4,728 meters. This latest update brings the cumulative Z87 program to 39 holes and 14,521 meters reported against the approximately 24,000 meters allocated for the project.

The headline intercept comes from hole 87-26-485, which returned 129.05 meters at 0.95 g/t AuEq starting from 398 meters downhole. This interval includes 22 meters at 3.38 g/t AuEq and 12.47 meters at 4.34 g/t AuEq. The primary grades for the 129.05-meter headline interval are 0.80 g/t Au, 1.11 g/t Ag, and 0.10% Cu.

Other significant intercepts include hole 87-26-531, which returned 125.5 meters at 0.74 g/t AuEq, including 74.3 meters at 0.99 g/t AuEq and 3.3 meters at 3.15 g/t AuEq. Hole 87-26-529 returned 154 meters at 0.51 g/t AuEq, including 45 meters at 1.15 g/t AuEq and 2 meters at 5.42 g/t AuEq; this hole is located 70 meters below the reserve pit. Additionally, hole 87-26-515 tested historically unsampled Z87 hangingwall and returned multiple intervals, including 93 meters at 0.46 g/t AuEq, 7 meters at 1.15 g/t AuEq with 1 meter at 5.04 g/t AuEq.

All grades are uncut, and true thicknesses are estimated at 75% to 90% of the drilled length.

Troilus Mining Corp. (TLG) operates an advanced development-stage gold-copper project with 478 Mt of reserves across the full project and a US$3.2 billion after-tax NPV(5%). With current equity valued at approximately C$1.13 billion, the market is already pricing in substantial project value, financing progress, and permit advancement.

The recent drilling serves as resource-definition and infill work, meaning the correct benchmark is the reserve grade rather than prior high-grade intercepts. The reported intercepts are at or well above the reserve grade of roughly 0.52 g/t AuEq, confirming continuity and potential for conversion. These results align with earlier Z87 batches from June, July, and August 2026, which also demonstrated broad 0.95-1.10 g/t AuEq intervals over lengths of 100-164 m.

While the release does not materially de-risk the project or alter the current mine plan on its own, a reserve update that converts these intervals would be more significant. Given the stock has already re-rated from about C$1.04 to over C$2.00 in the past year, this expected in-pit infill result is viewed as a confirmatory positive rather than a major market-moving event.

Troilus Mining Corp. is a Canadian development-stage mining company focused on the former gold-copper Troilus mine in north-central Quebec. The company holds a land position of 435 km² in the Frôtet-Evans Greenstone Belt. A 2026 technical report outlines a 26-year, 50,000 tpd open-pit operation.

Measured and Indicated resources total 810.2 Mt at 0.39 g/t Au, 0.05% Cu, and 0.82 g/t Ag. Proven and Probable reserves stand at 478 Mt at 0.44 g/t Au, 0.05% Cu, and 0.92 g/t Ag. Life-of-mine payable production is estimated at 5.63 moz Au, 472 Mlb Cu, and 10.88 moz Ag.

Project economics include an after-tax NPV(5%) of US$3.2 billion, a 22% IRR, a 3.6-year payback period, and initial capex of approximately US$1.428 billion. Financing includes a senior secured debt mandate of up to US$1.2 billion, a Finnvera LOI for up to US$132 million, a 70 MW Hydro-Québec power allocation, and offtake MOUs with Boliden and Aurubis.

The balance sheet shows approximately C$114.7 million cash and C$137.8 million working capital as at April 30, 2026, with no reported total debt.