Troilus Drills 164 m Grading 0.95 g/t AuEq While Testing Unsampled Historic Drillhole Intervals in the Z87 Reserve Pit

Troilus Mining Corp. (TLG) reported seven new drill holes totaling 1,845 meters from the Z87 pit optimization program at its 50,000 tpd Troilus copper-gold development project in Quebec. The headline result came from hole 87-26-507, which returned 164 meters at 0.95 g/t AuEq (0.83 g/t Au, 1.30 g/t Ag, 0.06% Cu), including 46 meters at 1.38 g/t AuEq and 61 meters at 1.22 g/t AuEq.

Other highlights included hole 87-26-487, which returned 39.6 meters at 0.82 g/t AuEq, including 17 meters at 1.36 g/t AuEq, and hole 87-26-501, which returned 75 meters at 0.64 g/t AuEq, including 14 meters at 1.31 g/t AuEq. Additional hangingwall intercepts were reported, such as 87-26-497, which returned 4.1 meters at 1.34 g/t AuEq and 15 meters at 0.53 g/t AuEq.

The program targets historically unsampled core intervals in the Z87 reserve pit, aiming to upgrade inferred resources to indicated, improve strip ratios, and enhance mine-planning flexibility. The AuEq formula used is Au + 1.5628Cu + 0.0128Ag (87 pit), based on $1,850 Au, $4.25 Cu, $23 Ag, with recoveries of 95.5% Au, 98.2% Ag, and 94.7% Cu.

Troilus Mining Corp. (TLG) released drill results that do not alter the company’s defined reserve, resource size, mine life, or project economics. The infill data supports long-term optimization goals, specifically improving strip ratios and converting inferred resources to indicated, which is viewed as a positive but incremental development for the pre-construction developer.

The market had already incorporated the positive tone of the Z87 optimization program from earlier batches, including the June 25 release of similar grades. The stock rose from $1.68 on June 25 to approximately $1.88 on July 6, a move that may already reflect continued positive news flow.

For a developer of this size, with a market capitalization of approximately $1 billion, $114 million in cash, and no debt, routine drill results within the reserve pit are not expected to significantly impact the stock. Material catalysts for the company remain permitting, financing closure, and the construction decision.

Troilus Mining Corp. is a Canadian development-stage miner advancing its wholly-owned Troilus Gold-Copper Project in Quebec’s Frôtet-Evans Greenstone Belt. The brownfield site, which saw past production from 1997 to 2010 by Inmet, features existing infrastructure including a substation and 107 km of power lines.

A feasibility study released in May 2024 outlines a 50,000 tpd open-pit operation with a 22-year mine life. The project is projected to yield an average annual output of 303,000 oz AuEq, equivalent to approximately 135 Mlb CuEq. Total financing for the project is estimated at US$1.2B or more.

The company holds $114M in cash following a $172.5M bought-deal raise in November 2025. With no debt, Troilus has secured a 70 MW hydro allocation, memorandums of understanding for offtake with Aurubis and Boliden, and a US$1.2B debt mandate currently in progress.