Troy Minerals Submits Mining License Application for Tsagaan Zalaa Silica Project in Mongolia
Troy Minerals Submits Mining License Applica7on for Tsagaan Zalaa
Silica Project in Mongolia
February 12, 2025 - Vancouver, B.C. – Troy Minerals Inc. (“ Troy” or the “Company”) (CSE:
TROY; OTCQB: TROYF; FSE: VJ3) is pleased to announce the submission via its subsidiary
company Grand Samsara ConsulLng LLC (“Grand Samsara”) of its mining license applicaLon to
the Ministry of Industry and Mineral Resources of Mongolia for the Tsagaan Zalaa Silica Project
(“Tsagaan Zalaa” or the “Project”) . This key milestone underscores the Company’s
commitment to advancing the project towards producLon and transforming Troy into a cash-
flowing enLty.
Located in southern Mongolia, 200 kilometres from the Mongolia-China border, the Tsagaan
Zalaa Silica Project is strategically posiLoned to serve the growing regional and global demand
for high-purity quartz silica (“HPQ”). The submission of the mining license applicaLon
represents a criLcal step in unlocking the project’s potenLal and advancing Troy’s broader
strategy of establishing itself as a key player in the HPQ market.
Yannis Tsitos, President of Troy Minerals, commented , “Submi^ng the mining license
applicaLon for Tsagaan Zalaa to the Mongolian authoriLes is a significant achievement for Troy
and its subsidiaries. This milestone reflects our relentless focus on progressing our two main
silica projects, Tsagaan Zalaa in Mongolia and Table Mountain in BriLsh Columbia, and sets the
stage for the Company’s main objecLve: to transform itself into a potenLal producer with cash
flow generaLon serving both Central-East Asia and North America. We are confident that
Tsagaan Zalaa will deliver long-term value for our shareholders and posiLon Troy as a n
important new entrant in this criLcal mineral sector .”
Strategic Importance of Tsagaan Zalaa:
• Favorable LocaEon: Proximity to some of the most established and “hungry” silica
markets and off-takers, in addiLon, established road and rail infrastructure provide a
strategic advantage (see Figure 1). The 1,670-hectare (4,127-acre) Project is located
near a Japanese high-purity quartz quarry and refiner producing and directly exporLng
HPQ to Japan. (1)
• High-Quality Resource: Previous bulk sample analysis (a 10-tonne bulk sample was
sold to a Chinese off-taker in 2023) demonstrated silica purity of up to 99.98% aler
beneficiaLon, underscoring the project’s viability for industrial and technological
applicaLons. Massive high-purity quartz veins up to 5 metres in width hosted by
Upper-Middle Devonian sediments are exposed on surface over the Project (see Figure
2). (1)
• Simplicity in ProducEon & Sustainable Growth: Selling raw high-purity silica is the
iniLal target of the company; simplicity in the surficial quarrying/mining process and
no need for a processing plant at this first phase, make the “Blast-Scoop-Load” moqo
Troy’s flag at Tsagaan Zalaa. The project’s development aligns with Troy’s commitment
to sustainable mining pracLces, support of the local communiLes in Southern
Mongolia and ulLmately delivering growth value to Troy’s shareholders.
Figure 1. LocaLon of the Tsagaan Zalaa Silica Project in South Mongolia.
Figure 2. Tsagaan Zalaa Silica Project with Regional Geology on Satellite Photo
Next Steps
With the mining license applicaLon submiqed, Troy will focus on finalizing a Preliminary
Economic Assessment (PEA) study, securing financing, and advancing discussions with orake
partners. Subject to the approval of the Company’s Mining License ApplicaLon in coming
months by the Mongolian authoriLes, Troy remains on track to target iniLaLon of producLon
at Tsagaan Zalaa in 2025, and cash flow generaLon from HPQ sales.
Any producLon decision in advance of obtaining a feasibility study of mineral reserves
demonstraLng economic and technical viability of the project is associated with increased
uncertainty and risk of failure.
Qualified Person
Technical informaLon in this news release has been reviewed and approved by Case Lewis,
P. G e o . , a " Q u a l i fi e d P e r s o n " a s d e fi n e d u n d e r N I 4 3-101 Standards of Disclosure for Mineral
Projects.
References
(1) TROY News Release Dated June 10, 2024: “T roy Minerals Enters Into Binding Leqer of
Intent to Acquire CBGB Ventures Corp.” hYps://finance.yahoo.com/news/troy-
minerals-enters-binding-leYer-150500217.html
About Troy Minerals
Troy Minerals is a Canadian based publicly listed mining company focused on building
shareholder value through acquisiLon, exploraLon, and development of strategically located
"criLcal" mineral assets. Troy is aggressively advancing its projects within the silica (silicon),
vanadium, and rare earths industries within regions that exhibit high and growing demand for
such commodiLes, in both North America and Central-East Asia. The Company's primary
objecLve is the near-term prospect of producLon with a vision of becoming a cash-flowing
mining company to ulLmately deliver tangible monetary value to shareholders, state, and local
communiLes.
ON BEHALF OF THE BOARD,
Rana Vig | CEO & Director
Telephone: 604-218-4766
Email: [email protected]
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",
"an5cipates", "believes", "intends", "es5mates", "projects", "poten5al", “produc5on” 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 explora5on
ac5vi5es may not show quality and quan5ty necessary for further explora5on or future exploita5on
of minerals deposits, vola5lity of commodity prices, and con5nued availability of capital and financing,
permiOng 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.