Troilus Announces Strategic Shareholder Transition
TROILUS ANNOUNCES STRATEGIC SHAREHOLDER TRANSITION
April 22, 2024, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R)
(“Troilus” or the “Company”) , reports that Sayona Mining Ltd. (“Sayona”) has divested its entire
equity position in Troilus. Last week, Sayona sold approximately 19.2 million Troilus shares at C$0.63,
which was executed through a block trade facilitated by a Tier-1 Canadian brokerage firm. These
shares have been acquired by a group of new and existing core institutional shareholders . An
additional 1.2 million shares were sold on the open market.
Sayona, who became a large shareholder in Troilus in late 2022 following the acquisition of some of
the Company’s non-core claims, covering 985 square kilometres , sold its position in the Company to
strengthen its balance sheet. Troilus retained a 2% net smelter returns royalty (“NSR”) on all mineral
products from these properties (refer to the November 16, 2022, press release for details).
Justin Reid, CEO of Troilus, commented, “We thank Sayona for their partnership and support as a
significant shareholder since 2022. We respect their decision to optimize their balance sheet, and we
are very pleased with the smooth transition of their stake to a consortium of large global
institutional investors. This transition not only strengthen s our shareholder base, but reaffirms a
strong confidence in our strategic direction, the Company’s growth potential, and our ongoing
commitment to generating value for all our shareholders.”
About Troilus Gold Corp.
Troilus is a feasibility-stage Canadian mining company focused on the systematic advancement and de-
risking of the former gold and copper Troilus Mine towards production. The 435 km² Troilus property is
located in the top-rated mining jurisdiction of Quebec, Canada, within the prospective Frôtet-Evans
Greenstone Belt. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly
70,000 tonnes of copper. Since acquiring the project in 2017, ongoing exploration success has
demonstrated the tremendous scale of the gold system on the property, which currently hosts 11.21
Moz AuEq (508.3 Mt with an average grade of 0.69 g/t AuEq) in the Indicated Mineral Resource category
and 1.80 Moz AuEq (80.5 Mt with an average grade of 0.69 g/t AuEq) in the Inferred Mineral Resource
category, making it the largest undeveloped gold deposit 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 the details of the key parameters, assumptions, risks and other technical and scientific information
relating to the above Mineral Resource estimates, refer to our technical report entitled “Technical Report
and Mineral Resource Estimate on the Troilus Gold-Copper Project Quebec, Canada Mineral Resources”
with an effective date of 02 October 2023 available at www.sedarplus.ca.
For more information:
Justin Reid
Chief Executive Officer
+1 (647) 276-0050 x 1305
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
Cautionary statements
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements with respect
to the timing, impact and other aspects of the Feasibility Study and the impact of warrant exercises on
the Company. 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 “does 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: there being no assurance that the
exploration program or programs of the Company will result in expanded mineral resources; risks and
uncertainties inherent to min eral resource estimates; the high degree of uncertainties inherent to
preliminary economic assessments and other mining and economic studies which are based to a
significant extent on various assumptions; variations in gold prices and other precious metals, exchange
rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general
business, economic, competitive, political and social uncertainties; future gold and other metal prices;
accidents, labour disputes and shortages; environmental and other risks of the mining industry, including
without limitation, risks and uncertainties discussed in the 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 o r 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.