Troy partner continues Tsagaan Zalaa permitting work

Executive Summary

• Troy Minerals has secured a critical milestone for its Tsagaan Zalaa silica project in Mongolia by registering high-purity quartz (HPQ) resources with the Mineral Resources and Petroleum Authority of Mongolia, a prerequisite for the mining license.
• The company anticipates receiving the physical mining license certificate in early November 2025, with the goal of final submission for the operating mining permit by December 2025.
• Troy has initiated commodity off-take discussions with specialists and potential partners in Central and East Asia, including metallurgical sampling by independent Chinese laboratories and evaluations with industrial clients in the solar and semiconductor sectors.

Key Details

• Permitting Milestone: High-purity quartz (HPQ) silica resources were successfully registered with the Mineral Resources and Petroleum Authority of Mongolia under the Ministry of Industry and Mineral Resources.
• Approval Body: The registration was approved by a 15-member council appointed by the ministry.
• License Timeline: The physical mining licence certificate is expected to be issued in early November 2025.
• Operating Permit Goal: The company aims for final submission of the operating mining permit by December 2025.
• Permit Components Status:
  • Detailed technical and economic studies: Completed.
  • Environmental impact assessment study: In progress, expected completion November 2025.
  • Local government agreement (including CSR plan): In progress, expected completion November 2025.
  • Blasting permit application and land quality assurance plans: In progress, expected completion December 2025.
  • Environmental management plan and emergency response plan: In progress, expected completion November 2025.
• Off-take and Market Development:
  • Discussions initiated with HPQ specialists and potential offtake partners across Central and East Asia.
  • Metallurgical sampling conducted by independent Chinese laboratories.
  • Early-stage evaluations underway with industrial clients in the solar and semiconductor supply chains.
• Project Location: Tsagaan Zalaa project is located in Saikhandulaan Soum, Dornogovi province, approximately 95 km west of Sainshand.
• Logistics: Sainshand is situated along the Trans-Mongolian Highway and railway, linking Ulan Bator to China, providing direct export routes. The site is 200 km from the Chinese border.
• Production Outlook: Based on current progress, Troy anticipates receiving the mine operating permit by late 2025 or early 2026.
• Risk Disclosure: Any production decision prior to obtaining a National Instrument 43-101-compliant feasibility study is associated with increased uncertainty and risk of failure.

Notable Quotes

• "I recently returned from a highly productive trip through Mongolia (Ulaanbaatar and Tsagaan Zalaa) and China (Beijing and Baotou)... Our visits to solar panel and silicon processing facilities and meetings with HPQ experts underscore the growing demand for premium-grade silica in Asia. We're extremely pleased with our permitting momentum and business development initiatives, which, together, position 2026 as a milestone year for both Grand Samsara and Troy Minerals." — Yannis Tsitos, President of Troy Minerals