Troy Minerals Restarts Fieldwork at Tsagaan Zalaa Silica Project in Mongolia
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Troy Minerals Restarts Fieldwork at
Tsagaan Zalaa Silica Project in Mongolia
Renewed Permi+ng and Drilling Ac2vi2es Highlight
the Project’s Poten2al as a High-Purity Silica Source
October 16, 2024 - Vancouver, B.C. – Troy Minerals Inc. (“Troy” or the “Company”) (CSE: TROY;
OTCQB: TROYF; FSE: VJ3) announces the resumpQon of fieldwork and exploraQon acQviQes at
its Tsagaan Zalaa Silica Project in Mongolia.
Following the recent acquisiQon of CBGB Ventures Corp., which added this promising high-
purity silica asset to the Company’s por_olio, Troy is acceleraQng its efforts to advance the
project, which is strategically located in Mongolia near the Chinese border . The Company has
iniQated fieldwork, supporQng the Environmental Impact Assessment (EIA) and preparaQon
for upcoming drilling operaQons.
Work on the project mining study required for obtaining a Mongolian mining license will help
shape the broader development plan for Tsagaan Zalaa, providing operaQonal insights
necessary for the project's successful execuQon.
The 1,670-hectare Tsagaan Zalaa Silica Project is situated close to a Japanese-owned silica
quarry, posiQoning it advantageously to serve the region's increasing demand for high-purity
silica in applicaQons such as emerging technologies and green energy soluQons. With renewed
drilling and studies underway, the Company is on target to submit a mining license applicaQon
before the end of this year and is targeQng to start operaQons in 2025. (1)
Fieldwork and Project Milestones:
• Restart of Drilling: Troy has resumed drilling preparaQons with an aim to conQnue the
previous strategy of targeQng quartz veins with widths of up to 10 metres. The iniQal
drilling program was completed in 2023, and the final phase of the drilling program is
planned for compleQon by the end of 2024, enabling the Company to finalize resource
esQmaQon and advance towards a mine plan. Immediate next steps include the re-
establishment of a drill camp.
• Restart of Environmental Impact Assessment (EIA): The Company has restarted
fieldwork supporQng the EIA. This work will conQnue collecQng data and compleQng
the relevant assessments and baseline studies for a future operaQng mine.
• Start of a Mining Study: Field teams previously conducted a 10-tonne bulk sample
tested by a prospecQve Chinese ogaker, yielding a silica purity of 99.98% aker
beneficiaQon. These results demonstrated the project’s potenQal as a high-quality
silica source, which is suitable for industrial and technological applicaQons. The results
of the bulk sample program will be included in the mining study required to be filed
in connecQon with obtaining a mining license. (1)
Rana Vig, President & CEO of Troy Minerals, stated: “We are pleased to restart fieldwork at
Tsagaan Zalaa and take this crucial step towards realizing the project ’s potenQal. The high
purity of the silica and strategic locaQon posiQon s us to capitalize on growing demand,
parQcularly in sectors driving the transiQon to green energy. We remain commimed to moving
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the project swikly through the development pipeline, targeQng producQon as early as Q2
2025.”
The recommencement of field acQviQes underscores Troy’s strategy to fast -track the
development of criQcal mineral assets. With conQnued progress at Tsagaan Zalaa, the
Company aims to establish itself as a significant player in the high -purity silica market,
generaQng cash flow to support future growth.
Green Gold Project
Following a review of the iniQal exploraQon program on the Company’s Green Gold property
located in central BriQsh Columbia in the Cariboo Mining Division, approximately 34 kilometers
(km) southwest of the city of Prince George, the Company has determined not to proceed with
the project.
MarkeDng Agreement
The Company also announces that it entered into an agreement with RMK MarkeQng Inc.
(“RMK”) on October 16, 2024, (address: 41 Lana Terrace, Mississauga, Ont., Canada, L5A 3B2;
e-mail: [email protected]) to provide markeQng services for a term of six months,
commencing Oct 16, 2024.
RMK is an independent company which will, as appropriate, provide project management and
consulQng for an on-line markeQng campaign, co-ordinate markeQng acQons, maintain and
opQmize AdWords campaigns, adapt AdWords bidding strategies, opQmize AdWords ads, and
create and opQmize landing pages. The promoQonal acQvity will occur by e-mail and Google.
Under the terms of the agreement, the Company will compensate RMK €200,000. The
Company will not issue any securiQes to RMK as compensaQon for the services. As of the date
hereof, to the Company's knowledge, RMK (including its directors and officers) does not own
any securiQes of the Company and has an arm's-length relaQonship with the Company.
Case Lewis, P .Geo. a consultant to the Company, is a Qualified Person as defined in NaQonal
Instrument 43-101, and has approved the technical informaQon in this news release.
References
(1) Troy News Release dated June 10, 2024: “ Troy Minerals Enters Into Binding Lemer of
Intent to Acquire CBGB Ventures Corp.”
For further details, please visit Troy Minerals' website.
ON BEHALF OF THE BOARD
Rana Vig | President & CEO
604-218-4766
Forward-Looking Statements
Statement Regarding Forward-Looking Informa5on: This release includes certain statements that may
be deemed "forward-looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects
to occur, are forward-looking statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, iden5fied by the words "expects", "plans",
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"an5cipates", "believes", "intends", "es5mates", "projects", "poten5al" and similar expressions, or that
events or condi5ons "will", "would", "may", "could" or "should" occur. Although the Company believes
the expecta5ons expressed in such forward-looking statements are based on reasonable assump5ons,
such statements are not guarantees of future performance and actual results may differ materially
from those in the forward-looking statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include results of exploration activities may not
show quality and quantity necessary for further exploration or future exploita5on of minerals deposits,
vola5lity of commodity prices, and con5nued availability of capital and financing, permiMng and other
approvals, and general economic, market or business condi5ons. Investors are cau5oned that any such
statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. Forward-looking statements are
based on the beliefs, es5mates and opinions of the Company's management on the date the
statements are made. Except as required by applicable securi5es laws, the Company undertakes no
obliga5on to update these forward-looking statements in the event that management's beliefs,
es5mates or opinions, or other factors, should change.
The Canadian Securi.es Exchange has not reviewed this press release and does not accept
responsibility for the adequacy or accuracy of this news release.