Troilus completes basic engineering for Quebec project

Executive Summary

• Troilus Mining Corp. has completed basic engineering for its wholly owned Troilus project in Quebec and is advancing detailed engineering across major plant, infrastructure, and site development disciplines.
• The company has formalized an integrated EPCM structure partnering BBA Consultants (engineering/procurement) and EBC Inc. (construction management) to reduce execution risk and enhance schedule discipline.
• Significant organizational strengthening has occurred with the appointment of key leadership, including a new Executive Vice-President of Projects, VP of Operations, Construction Director, CFO, and VP of Technical Services.

Key Details

• Engineering Status: Basic engineering is complete; detailed engineering is advancing in parallel with procurement planning, construction sequencing, and capital deployment strategies.
• EPCM Partnership:
  • BBA Consultants: Leading engineering and procurement.
  • EBC Inc.: Providing construction management oversight and integrating constructability into detailed design.
• Independent Review: Sedgman engaged to conduct an independent process plant review for third-party technical validation.
• Technical Derisking:
  • Geotechnical: Comprehensive investigation program running from fall 2025 through spring 2026 to refine foundation design and earthworks planning.
  • Metallurgical: Additional testwork on ore hardness and recovery performance to validate plant design assumptions, equipment sizing, and operational ramp-up.
• Value Engineering: Initiatives underway to optimize plant configuration, site layout, infrastructure integration, and construction sequencing to enhance capital productivity.
• New Leadership Appointments:
  • Denis Rivard: Executive Vice-President, Projects (40+ years experience; formerly VP of REM project at CDPQ Infra).
  • Andy Fortin: VP, Operations and General Manager (28 years experience; former chief metallurgist at Inmet Mining/Troilus, roles at Newmont and Agnico Eagle).
  • Richard Groleau: Construction Director (20+ years experience; former construction superintendent at Equinox Gold’s Greenstone project).
  • Marty Rendall: Chief Financial Officer (30+ years experience; former CFO of Victoria Gold and Electra Battery Materials).
  • Chris Sharpe: VP, Technical Services (Mining engineer with experience at Centerra Gold, Aurvista Gold, and AuRico Gold).
• Site Readiness & Infrastructure:
  • Dewatering: J pit dewatering completed; Z87 pit dewatering to begin near term.
  • Camp Expansion: Accommodation facility expanding from 80 to 200 personnel.
  • Upgrades: Road improvements, power infrastructure enhancements, and communications/technology system upgrades are in progress.

Notable Quotes

• Justin Reid, CEO: "Troilus is moving decisively from project definition toward execution. Engineering advancement is progressing in parallel with contractor integration, technical validation and execution planning. Our focus is clear: to enter construction with a design that is robust, independently validated and supported by a co-ordinated delivery framework."
• Denis Rivard, EVP, Projects: "By integrating engineering and construction management from the outset, we are strengthening execution readiness well before the commencement of construction activities. BBA brings deep engineering capability, and EBC brings proven construction delivery experience. Embedding constructability into detailed design significantly reduces downstream execution risk and enhances schedule discipline."