Troilus Announces Completion of Non-Brokered Private Placement
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TROILUS ANNOUNCES COMPLETION OF NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
October 3, 2022, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX:
CHXMF) is pleased to announce that the Company has completed a non-brokered private placement with
an investor for 10,525,000 Common Shares of Troilus at a price of C$0.49 per share for aggregate gross
proceeds to Troilus of $5,157,250.
The Company intends to use the net proceeds of the placement for working capital and general corporate
purposes.
About Troilus Gold Corp.
Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement
and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the
Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in
the top-rated mining jurisdiction of Quebec, Canada, where it holds a strategic land position of 1,420 km²
in the Frotêt-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has
demonstrated the tremendous scale potential of the gold system on the property with significant mineral
resource growth. The Company is advancing engineering studies following the completion of a robust PEA
in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper
producing asset in Canada. Led by an experienced team with a track-record of successful mine
development, Troilus is positioned to become a cornerstone project in North America.
For more information:
Justin Reid
Chief Executive Officer, Troilus Gold Corp.
+1 (647) 276-0050 x 1305
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
The Common Shares issued in relation to the private placement have not been, and will not be, registered
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state
securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of,
United States persons absent registration or any applicable exemption from the registration requirements
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of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any
sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Cautionary Note Regarding Forward-Looking Statements and Information
This pr ess release contains “forward- looking statements” within the meaning of applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to, statements the intended
use of proceeds . Generally, forward-looking statements can be identified by the use of forward- looking
terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “doe s not anticipate”, or “believes”, or
variations of such words and phrases or statements that certain actions, events or results “may”, “could”,
“would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward -looking statements are
made based upon certain assumptions and other important facts that, if untrue, could cause the actual
results, performances or achievements of Troilus to be materially different from future results,
performances or achievements expressed or implied by such statements. Such statements and information
are based on numerous assumptions regarding present and future business strategies and the
environment in which Troilus will operate in the future. Certain important factors that could cause actual
results, performances or achievements to differ materially from those in the forward- looking statements
include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility
and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and
other important factors that may cause the actual results, level of activity, performance or achievements
of Troilus to be materially different from those expressed or implied by such forward- looking statements,
including but not limited to: the discretion of the Company with respect to the use of proceeds, there being
no assurance that the exploration program will result in expanded mineral resources; risks and
uncertainties inherent to mineral resource estimates; the impact the COVID 19 pandemic may have on the
Company’s activities (including without limitation on its employees and suppliers) and the economy in
general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; the
receipt of necessary approvals; general business, economic, competitive, political and social uncertainties;
future prices of mineral prices; accidents, labour disputes and shortages; environmental and other risks of
the mining industry, including without limitation, risks and uncertainties discussed in the most recent
Technical Report and in other continuous disclosure documents of the Company available under the
Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward- looking statements, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking statements. Troilus does not undertake to update any forward- looking statements,
except in accordance with applicable securities laws.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Kyle
Frank, P.Geo., Manager of Exploration, who is a Qualified Person as defined by NI 43-101. Mr. Frank is an
employee of Troilus and is not independent of the Company under NI 43-101.