Troilus Commences New 2,500 Metre Exploration Drill Program Southwest of Main Mineral Resource Areas
TROILUS COMMENCES NEW 2,500 METRE EXPLORATION DRILL PROGRAM SOUTHWEST OF MAIN
MINERAL RESOURCE AREAS
November 27, 2019, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the
“Company”) is pleased to announce the start of a new 2,500 metre drill program at its 100%-owned Troilus
property (the “Troilus Project”) located near Chibougamau, within the Frotêt -Evans Greenstone Belt in
Quebec, Canada.
The Southwest Zone (Figure 1), lies along the margin of the Troilus Diorite and surrounding volcanics, 3.5
kilometres southwest of Z87 (Figure 2). Historically this area exhibited significant mineralization from
drilling including intercepts as high as 36m at 1.23g/t Au, and 18m at 1.06g/t Au. Historic drilling in this
area is limited, leaving the opportunity to explore, and potentially outline new mineralization at surface.
The Southwest Zone exemplifies near term, blue sky opportunity at Troilus, and will be the initial focus of
a significant, property wide exploration program. The Troilus technical team is applying the new structural
interpretation of the deposit to this area and believes that folding in outcrop s suggests a broader
structural system. The Troilus Diorite remains underexplored and is believed to be highly prospective.
Justin Reid, Chief Executive Officer of Troilus Gold Corp., commented, “ This short drill program to finish
up 2019 will continue to expand upon our understanding of the Troilus Diorite. We know from historical
drilling and our own observations on the ground that there is some exciting potential in this area.
Uncovering bedrock below mossy overburden, prospecting and mapping in Fall 2018 have identified new
gold bearing mineralizations at surface. Our main focus this year was to drill the J Zone and Z87 Zone,
which resulted in a new mineral resource estimate of 4.71 million indicated ou nces of AuEq and 1.76
million inferred ounces of AuEq announced earlier this month (see news release dated November 12,
2019). So far we have only drilled 2 kilometres of a 20 kilometre mag low geophysics trend so this drilling
in the Southwest Zone allows us to apply our new understanding of the geological structure with the
intention of further growing our mineral resource estimate.”
The Company has engaged the services of drilling company Forages Chibougamau Ltée. and 2 drills have
been mobilized on site.
Figure 1: Plan view of Troilus Property Showing Mineral Resource Area and Geological Interpretation of
Mineralized Zones. New drilling is underway in the Southwest zone.
Figure 2: Troilus Property Geology
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Bertrand
Brassard, M.Sc., P.Geo., Senior Project Geologist, who is a Qualified Person as defined by NI 43-101. Mr.
Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company
focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine.
The 16,000-hectare Troilus property is located northeast of the Val-d’Or district, within the Frotêt-Evans
Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus
project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of
copper.
For more information:
Paul Pint
President
+1 (416) 602-1050
Cautionary Note Regarding Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the
estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by
environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There
is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve
category, and there is no certainty that the updated Mineral Resource statement will be realized.
This press release contains “for ward-looking statements” within the meaning of applicable Canadian
securities legislation. Forward- looking statements include, but are not limited to, statements regarding
the impact of the planned drill program and results on the Company, , the possible economics of the project
and the Company’s understanding of the project; the development potential and timetable of the project;
the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of
estimated future exploration; the anticipated results of the Company’s planned 2020 drill program and
their possible impact on the potential size of the mineral resource estimate; costs of future activitie s;
capital and operating expenditures; success of exploration activities; the anticipated ability of investors to
continue benefiting from the Company’s low discovery costs, technical expertise and support from local
communities. 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 “bel ieves”, 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 m aterially 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 will result in expanded
mineral resources; risks and uncertainties inherent to mineral resource estimates; receipt of necessary
approvals; general business, economic, competitive, political and social unce rtainties; 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 Technical Report to be filed
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.