Name of the Project
Troilus copper/gold project.

Location
Frôtet-Evans greenstone belt in north-central Quebec, Canada.

Project Owner/s
Canadian project developer Troilus Gold Corp.

Project Description
The Troilus project comprises four main zones of mineralisation, located on a north-east/south-west trend covering about 7 km.

These deposits will be mined using conventional openpit mining methods over a 22-year period. Ore will be processed in a flotation mill to produce gold-rich copper concentrate for sale to a smelter, with provision for gravity gold recovery to produce doré after Year 1.

Life-of-mine (LoM) average payable gold production is estimated at 244 600 oz/y, 17.3-million pounds a year of copper and 446 700 oz/y of silver.

Peak payable gold production is estimated at 456 100 oz/y, 31.8-million pounds of copper and 613 600 oz of silver in Year 7.

The project proposes an openpit mine processing 50 000 t/d – a 43% larger-scale operation than the 35 000 t/d processing rate contemplated in the 2020 preliminary economic assessment.

Total LoM payable gold is estimated at 5.4-million ounces, 382-million pounds of copper and 9.9-million ounces of silver.

Potential Job Creation
The project is expected to create about 1 000 direct jobs during construction and more than 680 permanent jobs during operations.

Net Present Value/Internal Rate of Return
At the feasibility-study base-case prices, the project has a pretax net present value (NPV), at a 5% discount rate, of $1.56-billion and a pretax internal rate of return (IRR) of 18.1%. The after-tax NPV is $884-million and IRR is 14%, with a payback of 5.7 years.

Capital Expenditure
Initial capital expenditure is estimated at $1.075-billion.

Planned Start/End Date
A formal construction decision is targeted for 2026.

Latest Developments
Troilus has been selected as one of the first mining projects to receive specialised support through the Quebec government’s Filon initiative. The service is intended to improve coordination among the ministries and agencies involved in permitting while maintaining the province’s environmental-review requirements.

The company submitted the project’s environmental- and social-impact assessment in June 2025 and is advancing permitting, detailed engineering and project financing in parallel. In June 2026, Hydro-Québec and Quebec’s Ministry of Economy, Innovation and Energy approved a 70 MW hydroelectric power allocation for construction and operations. About 107 km of 161 kV powerlines and a substation are in place at the site.

Detailed engineering is fully mobilised across the process plant, infrastructure, site layout, three-dimensional modelling and procurement support. More than 40 bid packages have been issued for tender or are under technical and commercial evaluation. Geotechnical field drilling has been completed, and independent reviews of the process-plant design, basic-engineering assumptions and capital-cost methodology identified no material issues.

Troilus has increased its debt-financing mandate to as much as $1.2-billion. The financing is being led by Société Générale, KfW IPEX-Bank and Export Development Canada, and is expected to form the cornerstone of the overall project-financing structure. Technical, financial, environmental and social due diligence is well advanced.

The 2026 Z87 optimisation drilling programme is also assessing opportunities to convert inferred and previously unsampled material within the reserve pit, improve pit sequencing and the strip ratio, and increase early-year mill feed. The latest reported results included 1.10 g/t gold equivalent over 103 m.

Key Contracts, Suppliers and Consultants
BBA Consultants (engineering and procurement); EBC Inc. (construction management integration); Auramet International (project finance adviser); Société Générale, KfW IPEX-Bank and Export Development Canada (mandated lead arrangers); Boliden and Aurubis (proposed concentrate offtake).

Contact Details for Project Information
Troilus Gold Corp, tel +1 647 276 0050 or email info@troilusgold.com.