Troy Minerals Targets Restart of Drilling at Tsagaan Zalaa
Troy Minerals Targets Restart of Drilling at Tsagaan Zalaa
Drilling Will Pave the Way for Mining License Applica8on and
Targeted Produc8on Start in 2025
Vancouver, B.C. – November 5, 2024: Troy Minerals Inc. ("Troy" or the "Company") (CSE: TROY;
OTCQB: TROYF; FSE: VJ3) is pleased to announce a significant milestone in its ongoing
development of the Tsagaan Zalaa Silica Project in Mongolia. With the next phase of drilling
now underway, the Company aims to complete the minimum 1,000 meters cumulaYve drill
program, the required threshold for its mining license submission. It should be noted that the
silica mineralizaYon at Tsagaan Zalaa is either outcropping or sub-outcropping, resulYng is
relaYvely shallow drilling campaigns. The Company expects to complete drilling before year-
end, se]ng the stage for Troy’s mining license submission.
Located strategically near the Mongolian-Chinese border, the Tsagaan Zalaa Silica Project
conYnues to present robust opportuniYes for growth in the silica sector, driven by rising
demand from green technology and other high-tech industries. The Company remains focused
on delivering the necessary operaYonal milestones, aligning with its commitment to achieving
first producYon in the coming year .
“This addiYonal drilling is a criYcal step in advancing T sagaan Zalaa to the producYon stage,”
said Rana Vig, President and CEO of Troy Minerals. “By meeYng the requirements for our
mining license, we will conYnue progressing towards our goal of producYon in 2025, ulYmately
generaYng substanYal value for our stakeholders and contribuYng to the global supply of high-
purity silica for green technologies.”
Project Development Milestones:
• Drilling Comple8on: The compleYon of the 1,000 meters drill program is expected to
be reached by the end of 2024, with this phase concluding the final project technical
geological studies essenYal for license submission.
• Environmental Studies Completed: Project environmental field studies, inclusive of
archaeological and paleontological studies have successfully been completed in
October 2024. Thus, final environmental reports are in progress.
• Mining License Applica8on: CompleYon of this targeted drilling in associaYon with
already completed trenching, sampling and geological mapping, will facilitate the
mining license applicaYon, anYcipated to be submiced promptly, allowing Troy to
transiYon into the producYon stage within 2025.
• Strategic Project Posi8oning: The Tsagaan Zalaa project’s proximity to a Japanese-
operated silica mine underscores its favorable locaYon to supply Asia’s burgeoning
high-purity silica market.
With these advancements, Troy Minerals reaffirms its commitment to establish itself as a
leading supplier in the silica industry, serving the needs of rapidly growing green energy and
advanced technology sectors. The Company’s operaYonal focus on Tsagaan Zalaa strengthens
its strategic objecYve to establish itself as a supplier of high-purity silica and target producYon
by H2 2025.
ON BEHALF OF THE BOARD
Rana Vig | President & CEO
604-218-4766
ABOUT TROY MINERALS INC.
Troy Minerals is a Canadian based publicly listed mining company focused on building
shareholder value through acquisiYon, exploraYon, and development of strategically located
“criYcal" 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 commodiYes, in both North America and Central -East Asia. The Company’s primary
objecYve is the near-term prospect of producYon with a vision of becoming a cash-flowing
mining company to ulYmately deliver tangible monetary value to shareholders, state, and local
communiYes.
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" 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.