Troilus Completes Basic Engineering and Advances Detailed Engineering as Project Execution Readiness Accelerates
TROILUS COMPLETES BASIC ENGINEERING AND ADVANCES DETAILED ENGINEERING AS
PROJECT EXECUTION READINESS ACCELERATES
March 24, 2026, Montreal, Quebec – Troilus Mining Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5)
(“Troilus” or the “Company ”), is pleased to provide an engineering and project execution update for
its wholly owned copper-gold Troilus Project (the “Project”) located in north-central Québec.
The Company has completed Basic Engineering, establishing a fully integrated project definition
framework, and is advancing Detailed Engineering across major plant, infrastructure, and site
development disciplines. This progression enables procurement planning, construction sequencing,
and capital deployment strategies to advance in parallel with final construction -level design (see
Project infrastructure layout in Figure 1). In tandem, Troilus has implemented targeted technical
validation and execution planning initiatives designed to further strengthen project certainty ahead
of a formal construction decision.
Project Execution Progress Highlights
▪ Basic Engineering completed , and Detailed Engineering advancing across all major disciplines .
▪ Integrated EPCM structure formalized with BBA Consultants , in partnership with EBC Inc. for
construction management integration .
▪ Expanded geotechnical and metallurgical validation programs underway to enhance design
certainty.
▪ Early contractor engagement and independent third-party technical review advancing across
key process and design areas.
▪ Expanded, construction -ready leadership team in place, with contractor and supplier
engagement progressing in parallel.
▪ Site readiness accelerating through continued pit dewatering, camp expansion to 200
personnel, and infrastructure upgrades aligned with development planning.
Justin Reid, Chief Executive Officer of Troilus, commented , “Troilus is moving decisively from project
definition toward execution. Engineering advancement is progressing in parallel with contractor
integration, technical validation, and execution planning. Our focus is clear: to enter construction
with a design that is robust, independently validated, and supported by a coordinated delivery
framework. Each step we are taking today is aimed at strengthening confidence in the Project’s
preparedness for its next stage of development. ”
Ongoing Technical De-Risking Initiatives
In parallel with engineering progression, Troilus has advanced several key technical initiatives aimed
at enhancing project predictability and reducing execution risk.
Geotechnical Program
A comprehensive geotechnical investigation program has been underway since Fall 2025 and will
continue through Spring 2026. Drilling and site characterization across key plant and infrastructure
areas are refining foundation design parameters and earthworks planning, directly strengthening
schedule and cost certainty.
Metallurgical and Process Optimizatio n
Additional metallurgical and process testwork has been undertaken to further validate plant design
assumptions, including ore hardness characterization and recovery performance . This work supports
equipment sizing confirmation, operational ramp-up planning, and long-term plant reliability.
Integrated EPCM Structure and Independent Review
Troilus has formalized a fully integrated EPCM structure through a partnership between BBA
Consultants (“BBA”), a Québec-based engineering firm with extensive mining and industrial project
experience, and EBC Inc. (“EBC”), a leading Canadian civil and infrastructure contractor with a strong
track record in large-scale industrial construction.
Under this model, BBA is leading engineering and procurement with support from EBC providing
construction management oversight, with constructability embedded directly into detailed design
and engineering decisions aligned with field execution realities. This integrated approach reduces
interface risk and enhances execution coordination.
In addition, the Company has engaged Sedgman to conduct an independent process plant review,
providing third-party technical validation of the plant design based on recent large-scale mining
project experience.
Denis Rivard, EVP Projects, commented , “By integrating engineering and construction management
from the outset, we are strengthening execution readiness well before the commencement of
construction activities . BBA brings deep engineering capability, and EBC brings proven construction
delivery experience. Embedding constructability into detailed design significantly reduces
downstream execution risk and enhances schedule discipline.”
Value Engineering and Configuration Optimization
In parallel with engineering progress, Troilus continues to advance targeted value optimization
initiatives across plant configuration, site layout, infrastructure integration, and construction
sequencing. These efforts are designed to enhance capital productivity, streamline construction
execution, and strengthen long-term operating efficiency — while preserving the Project’s core
design and performance objectives.
Figure 1. Troilus Project – Ultimate Pit and Surface Infrastructure Layout
Organizational Strengthening and Construction Preparation
As the Project advances toward execution, Troilus has significantly strengthened its senior project and
operational leadership team while advancing early contractor and supplier engagement.
Recent leadership additions include:
▪ Denis Rivard, EVP Projects – A professional engineer with over 40 years of experience in global
project leadership across mining, infrastructure, and industrial development. His career includes
senior roles with Freeport-McMoRan, Ausenco, SNC-Lavalin, and WorleyParsons, overseeing
large-scale capital projects across development and construction phases. Most recently, he
served as Vice President of the Réseau Express Métropolitain (REM) project at CDPQ Infra,
contributing to the delivery of Montréal’s 67-kilometre light rail network.
▪ Andy Fortin, VP Operations & General Manager – Brings over 28 years of experience in mineral
processing and project management, including 12 years at the former Troilus Mine during its
construction and operating phases under Inmet Mining, where he held senior roles including
Chief Metallurgist and Process & Maintenance Plant Manager. He has also held senior
operational leadership positions at Newmont’s Éléonore Mine and Agnico Eagle’s Meadowbank
Mine, contributing deep operational and site-specific expertise as Troilus advances toward
development.
▪ Richard Groleau, Construction Director –A Mechanical Engineer with over 20 years of global
experience in construction and project management on complex, large-scale mining
developments. Most recently, he served as TMF/GFC Construction Superintendent on Equinox
Gold’s Greenstone Project, contributing to the successful execution of one of Canada’s largest
recent gold mine builds. His expertise spans construction management, project readiness, safety
leadership, scheduling, cost controls, and operational handover.
▪ Marty Rendall, CFO – Brings over 30 years of senior financial leadership experience in the
mining industry, spanning exploration, project development, construction, and operations. He
previously served as CFO of Victoria Gold for 17 years, where he played a key role in advancing
the Eagle Gold Mine from exploration through construction and into production, supporting the
company in securing over C$1 billion in financings. Mr. Rendall also served as CFO of Electra
Battery Materials, contributing to the advancement and financing of its Ontario cobalt refinery
project, and has held senior financial roles at De Beers Canada and Breakwater Resources.
▪ Chris Sharpe, VP Technical Services – A mining engineer with extensive experience in mine
planning, open pit geotechnical studies, and financial modeling. He spent over five years at
Centerra Gold, most recently as Director, Projects & Technical Services, and previously held
engineering leadership roles at Aurvista Gold and AuRico Gold.
Construction planning activities are progressing in parallel, including early engagement with regional
and Indigenous contractors, equipment suppliers, and key service providers to support future
procurement sequencing and workforce integration.
Current and Upcoming Site Activities
In parallel with engineering advancement, site-level activities continue to progress in preparation for
development. Dewatering of the J Pit has now been completed, and pumping equipment is being
mobilized to initiate dewatering of the Z87 Pit in the near term. These activities are an important
step in advancing site readiness and enabling future construction sequencing.
Camp expansion activities are also underway, with the existing 80-person accommodation facility
being expanded to support approximately 200 personnel. This upgrade enhances the Company’s
ability to support ongoing engineering, technical programs, contractor mobilization, and future
construction workforce requirements.
Additional site upgrades are progressing, including road improvements, enhancements to power
infrastructure, and upgrades to site communications and technology systems to support increased
operational activity. Together, these initiatives reflect continued advancement toward a
construction -ready site environment.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Nicolas
Guest, P.Geo., Exploration Manager, who is a Qualified Person as defined by NI 43-101. Mr. Guest is an
employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Mining Corp.
Troilus Mining Corp. is a Canadian development -stage mining company focused on the systematic
advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the
tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the
Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year,
50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 276-0050
Cautionary Note Regarding Forward-Looking Statements and Information
This press release contains “forward -looking statements” within the meaning of applicable Canadian
securities legislation. Forward -looking statements include, but are not limited to, statements regarding
the impact and timing of engineering progress, the timing of federal and provincial permits, the impact
of the various appointments on the Company, the timing and impact of the dewatering and ESIA filing,
statements regarding the non-binding nature of the project finance LOI’s and the likelihood that binding
funding commitments will follow on the timeline projected or at all, development plans, opportunity to
expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the
development potential and timetable of the project; the estimation of mineral resources and reserves;
realization of mineral resource and reserve estimates; the timing and amount of estimated future
exploration; costs of future activities; 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, the timing and amount of estimated
future exploration; and the anticipated results of the Company’s 202 5 drill program and their possible
impact on the potential size of the mineral resource estimate. 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 mineral resource and reserve estimates; the high degree of
uncertainties inherent to feasibility studies and other mining and economic studies which are based to a
significant extent on various assumptions; variations in gold prices and other metals, exchange rate
fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of
financing for project development; uncertainties and risks with respect to developing mining projects;
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 Company’s latest Annual
Information Form, its technical reports and other continuous disclosure documents of the Company
available under the Company’s profile at www.sedarplus.ca. 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.