Delta Resources Announces Closing of the DELTA-2 Option with Troilus Mining Delivering up to $8.25M Non-Dilutive Funding and 1% NSR Royalty
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DELTA RESOURCES ANNOUNCES CLOSING OF THE DELTA-2 OPTION WITH TROILUS MINING DELIVERING
UP TO $8.25M NON-DILUTIVE FUNDING AND 1% NSR ROYALTY
February 17, 2026 / Toronto, ON / Newsfile Corp. – Delta Resources Limited (“Delta” or the “Company”) (TSX-V:
DLTA) (OTC Pink: DTARF) (Frankfurt: 6GO1) is pleased to announce that it has received conditional approval from
the TSX Venture Exchange (“TSXV”) for its previously announced option agreement (the “Option Agreement”) with
Troilus Mining Corp. (“Troilus”) (TSX: TLG), pursuant to which Troilus may acquire a 100% undivided interest in
Delta’s Delta-2 mineral claims located approximately 35 kilometres southeast of Chibougamau, Québec. Final
approval is expected to be received upon fulfilment by the Company of standard regulatory filing requirements.
Strategic Highlights
• Up to C$8.25 million in staged cash and/or share payments over three years
• Initial C$1.0 million payment received as at closing
• Non-dilutive funding expected to support advancement of the Delta-1 Gold Property
• 1.0% Net Smelter Return (“NSR”) royalty retained, with long-term exposure to exploration success
• Troilus to fund all exploration and claims maintenance during the option period
Frank Candido, Chairman of Delta, commented:
“This agreement allows us to unlock immediate value from Delta-2 through non-dilutive funding and royalty
exposure, while maintaining strategic focus on advancing the rapidly evolving Delta-1 Gold Property in Thunder
Bay, Ontario.”
Ron Kopas, Chief Executive Officer (Interim) of Delta, commented:
“The initial funding, combined with Delta’s disciplined cost structure, positions the Company to accelerate
exploration at Delta-1 without shareholder dilution. We believe this transaction underpins our business plan over
the coming years and aligns Delta with a technically strong partner to advance Delta-2.”
Summary of the Option Agreement
As previously announced on January 29, 2026, Troilus may earn a 100% undivided interest in the Delta-2 mineral
claims by making aggregate payments of C$8.25 million to Delta over an option period ending December 15, 2028
(the “Option”). Payments may be made in a combination of cash and common shares of Troilus, at Troilus’
discretion, subject to applicable stock exchange approvals.
Key milestones include:
• C$500,000 cash and C$500,000 in shares of Troilus within two business days of closing of the transaction;
• Additional staged payments totaling C$7.25 million through December 15, 2028.
If the Option is fully exercised, Delta will retain a 1.0% NSR royalty, 50% of which may be repurchased for
C$500,000.
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Troilus will act as operator during the Option Period, funding all exploration activities and claim maintenance
expenditures, while Delta retains ownership of the claims unless and until the Option is exercised
About the Delta-2 Project
The Delta-2 property comprises 405 mineral claims covering approximately 21,783 hectares in Québec’s Abitibi
Greenstone Belt — one of the world’s premier mining jurisdictions with established infrastructure and a long
history of gold and base-metal production.
Qualified Person
Daniel Boudreau, P.Geo., Manager of Exploration at Delta Resources Limited, is the Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the technical information contained in this news
release.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration and project development company focused on
advancing its flagship Delta-1 Gold Property in Ontario, where the Company has identified a large, near-surface
gold system anchored by the Eureka Gold Deposit. The project spans 297 square kilometres with multiple
prospective corridors including Shabaqua and Wedge, where exploration continues to expand the Company’s
discovery footprint.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange has not approved nor disapproved the contents of this news
release.
For Further Information:
Frank Candido, Chairman
Tel: 514-969-5530
Ron Kopas, CEO (Interim)
Cautionary Note Regarding Forward-Looking Information
Some statements contained in this news release constitute “forward-looking information” within the meaning of
applicable Canadian securities laws, including statements regarding receipt of final approval, closing of the
transaction, expected payments, future exploration plans and strategic objectives. Forward-looking information is
inherently uncertain and involves risks, assumptions and uncertainties that could cause actual results to differ
materially. Readers are cautioned not to place undue reliance on forward-looking information. The Company
undertakes no obligation to update such information except as required by law.