Troilus Receives Full Power Allocation from Hydro-Quebec and Quebec's Ministere de l'Economie, de l'Innovation et de l'Energie (MEIE) to Support Mine Construction and Operations

Executive Summary

• Hydro-Québec and Quebec’s MEIE have approved a 70 MW power allocation for the Troilus Project, marking a major de-risking milestone for development and operations.
• The allocation secures reliable, competitively priced renewable hydroelectric power to support ongoing permitting, detailed engineering, and project financing phases.
• Existing power infrastructure, including 107 km of 161kV high-tension lines connected to a site substation, is already in place to facilitate immediate grid integration.

Key Details

• Power Allocation: 70 MW approved by Hydro-Québec and MEIE to support development and operation of the copper-gold Troilus Project.
• Infrastructure Status: 107 kilometres of 161kV high-tension powerlines are already constructed and connected to a substation at the Troilus site.
• Strategic & Environmental Impact: De-risks the project's path to production, supports parallel advancement of permitting, engineering, and financing, and aligns with long-term emissions reduction objectives through access to Québec’s low-carbon hydroelectric grid.
• Feasibility Study Metrics (May 2024): 22-year mine life; 50ktpd open-pit mining operation; average annual production of 303,000 AuEq (135.4 million lbs CuEq); peak production of 536,400 AuEq ounces.
• Economic & Employment Impact: Expected to generate approximately 1,000 direct jobs during construction and over 680 permanent jobs during operations.
• Project Location & Jurisdiction: North-central Quebec in the Frôtet-Evans Greenstone Belt; holds a 435 km² land position in a tier-one mining jurisdiction.
• Regulatory Status: Largest copper project currently at the permitting stage in Quebec; one of the largest undeveloped gold projects in Canada.

Notable Quotes

• Justin Reid, CEO: “This confirmation from Hydro-Québec and the MEIE marks a crucial milestone for Troilus that meaningfully advances the project’s overall development readiness. Access to reliable hydroelectric power is a critical component of responsible mine development in Québec, and this allocation reflects the advanced stage and broader strategic importance of the Troilus Project within the province’s industrial and critical minerals landscape. Troilus is positioned to become a long-life project for Québec - one capable of delivering meaningful economic benefits, supporting domestic copper supply, and contributing to long-term regional development in Northern Québec. Securing this allocation further strengthens the foundation of the project and de-risks our path toward the next stage of development.”