Troilus Drills 157.5 Metres Grading 0.95 G/T AuEq While Targeting Inferred Material Within the Z87 Reserve Pit *0.95 G/T AuEq (0.82 G/T Au, 0.88 G/T AG, 0.08 % Cu), Including 1.37 G/T AuEq (1.28 G/T Au, 0.99 G/T AG, 0.04 % Cu) over 28 M
TROILUS DRILLS 157.5 METRES GRADING 0.95 G/T AUEQ WHILE TARGETING INFERRED MATERIAL
WITHIN THE Z87 RESERVE PIT
*0.95 G/T AUEQ (0.82 G/T AU, 0.88 G/T AG, 0.08 % CU), INCLUDING 1.37 G/T AUEQ (1.28 G/T AU, 0.99
G/T AG, 0.04 % CU) OVER 28 M
June 25, 2026, Montreal, Quebec – Troilus Mining Corp. (“Troilus” or the “Company”) (TSX: TLG; OTCQX:
CHXMF; FSE: CM5), is pleased to announce the first batch of results from the Z87 optimization drill
program, as part of its ongoing 2026 Exploration activities at its Troilus Project located in north -central
Quebec, Canada. The results reported include 13 drill holes totalling 3,718 metres, following the
exploration program outlined in the Company’s March 31, 2026 press release.
The ongoing Z87 optimization program is designed to support future mine planning by targeting inferred
mineralization and previously unsampled intervals from historic drilling within the hangingwall of the main
ore zone. All results reported today are located within the Z87 reserve pit, as defined in the Feasibility
Study (see May 14, 2024 press release), and support the Company’s objective of evaluating opportunities
to improve future mine planning, including potential resource conversion, pit sequencing optimization,
strip ratio improvements and early-year mill feed flexibility.
Z87 Intercept Highlights (see Figure 1):
Hole 87-26-505 intersected 0.95 g/t gold equivalent (“AuEq”) (0.82 g/t Au, 0.88 g/t Ag, 0.08 % Cu)
over 157.7 m, including 1.37 g/t AuEq (1.28 g/t Au, 0.99 g/t Ag, 0.04 % Cu) over 28 m, also including
1.68 g/t AuEq (1.47 g/t Au, 0.91 g/t Ag, 0.12 % Cu) over 30.9 m, and also including 1.16 g/t AuEq
(0.87 g/t Au, 1.54 g/t Ag, 0.17 % Cu) over 19 m starting at 238 m downhole. See Figure 2.
Hole 87-26-508 intersected 1.10 g/t gold equivalent (“AuEq”) (0.90 g/t Au, 2.06 g/t Ag, 0.11 % Cu)
over 96 m, including 2.59 g/t AuEq (2.28 g/t Au, 2.48 g/t Ag, 0.18 % Cu) over 13.7 m, also including
1.88 g/t AuEq (1.60 g/t Au, 3.10 g/t Ag, 0.15 % Cu) over 16.5 m starting at 284 m downhole. See Figure
3.
Hole 87-26-481 intersected 0.55 g/t gold equivalent (“ AuEq”) (0.49 g/t Au, 0.34 g/t Ag, 0.03 % Cu)
over 83 m, including 1.10 g/t AuEq (1.02 g/t Au, 0.43 g/t Ag, 0.05 % Cu) over 20 m starting at 298 m
downhole. See Figure 4.
Justin Reid, CEO of Troilus, commented, “The drill bit continues to deliver exciting results from within the
reserve pit areas, and the Z87 program is steadily advancing exactly what it was designed to do. By
targeting historically unsampled intervals in the hangingwall, upgrading inferred material and improving
our understanding of mineralization within and around the existing pit shell, we are working to unlock
opportunities that were not fully captured in previous drilling campaigns. Much of the hangingwall in Z87
was left unsampled during historical drill campaigns, creating gaps in the block model that we believe
represent an important optimization opportunity. These initial results support our view that additional
mineralized material may be better defined in this area, with the potential to enhance future sequencing,
improve strip ratios and provide greater flexibility for early-year feed to the planned 50,000 tonne-per-
day operation.”
Z87 was one of two zones previously mined by open pit at the Troilus Project. Many of the historic drill
holes that defined the previously mined reserve were not fully sampled, with several hundred metres of
core left unsampled in many holes. For resource estimation purposes, these unsampled intervals are
assigned a value equal to half the laboratory analysis detection limit, resulting in large gaps within the
block model.
The current Z87 optimization drill program was designed to target these gaps and convert waste to
potential future ore. There also exist opportunities to upgrade the classification of inferred material to
the indicated category, which could allow for potential incorporation into future mine plan updates.
All grades are uncut, and true thicknesses are approximately 75% to 90% of drilled length.
*The completed NI 43-101 technical report associated with the Troilus Project FS can be found on SEDAR+ at www.sedarplus.ca
under the Company’s issuer profile or on the Company’s website at www.troilusgold.com
Figure 1. Plan Map with Reported Drill Hole and Cross Section Locations from Z87
Figure 2. Cross section showing results for drillhole 87-26-505.
Figure 3. Cross section showing results for drillhole 87-26-508 and 87-26-509.
Figure 4. Cross section showing results for drillhole 87-26-481.
Z87 Drilling
Drillhole 87-26-505 was designed to target an area of inferred material within the Z87 reserve pit and test
for additional mineralization in the hangingwall of the main zone. In the Hangingwall, the hole returned
0.99 g/t AuEq over 17 metres from an area of the resource model that does not currently contain
mineralized material (Figure 2), highlighting the potential to help improved strip ratios within the Phase 1
Z87 reserve pit - an area of significant mining activity during the critical early years of production. The hole
also returned a broad main-zone intercept of 157.5 metres grading 0.95 g/t AuEq. From a grade x width
perspective, this intercept is among the best results returned from drilling since the Company commenced
exploration in 2018. This interval contained higher-grade sections grading 1.37 g/t AuEq over 28 metres,
1.68 g/t AuEq over 30.9 metres and 1.16 g/t AuEq over 19 metres. By targeting inferred material within
the reserve pit, the program is evaluating opportunities to upgrade mineralization to the indicated
category for potential incorporation into future reserve and mine plan updates.
Drillhole 87-26-508 was planned with the same objective, targeting inferred material within the Z87
reserve pit and testing for additional hangingwall mineralization. The hangingwall returned an intercept
of 0.43 g/t AuEq over 42 metres from an area of the block model that is not currently mineralized (Figure
3). The hole also returned 1.10 g/t AuEq over 96 metres from the main zone of Z87, which includes 2.59
g/t AuEq over 13.7 metres and 1.88 g/t AuEq over 16.5 metres.
Drillhole 87-26-481 successfully targeted inferred material directly under the previously mined pit (Figure
4). The hole returned 83 metres grading 0.55 g/t AuEq, including 1.10 g/t AuEq over 20 metres from the
primary target, while the hangingwall returned 5.94 g/t AuEq over 1 metre and 1.78 g/t AuEq over 1
metres from areas of sparse mineralization in the current block model.
The holes included in this news release account for approximately 15% of the total metres expected to be
drilled in and around the Z87 reserve pit as part of the ongoing optimization program.
Table 1. Z87 Drill Results
Hole From (m) To (m) Interval
(m)
Au Grade
(g/t)
Cu Grade
(%)
Ag Grade
(g/t)
AuEq Grade
(g/t)
87-26-481 (-45° dip)
125 126 1 5.63 0.16 4.80 5.94
197 198 1 1.76 0.01 0.25 1.78
222 224 2 0.69 0.00 0.25 0.70
238 244 6 0.19 0.01 0.25 0.20
298 381 83 0.49 0.03 0.34 0.55
incl 358 378 20 1.02 0.05 0.43 1.10
87-26-483 (-48° dip)
31 36 5 2.18 0.08 4.47 2.36
61 64 3 0.54 0.07 1.87 0.67
118.5 120 1.5 1.06 0.01 0.25 1.08
87-26-486 (-50° dip)
74 79 5 0.57 0.01 0.25 0.58
86 90 4 0.41 0.01 0.25 0.42
123 140 17 0.27 0.01 1.20 0.30
146 158 12 0.19 0.01 0.45 0.20
87-26-493 (-50° dip)
15 23 8 0.44 0.01 0.40 0.47
217 223 6 0.58 0.05 1.83 0.68
278 288 10 0.21 0.01 0.25 0.23
356 363 7 0.17 0.02 0.41 0.21
365 374 9 0.18 0.02 0.60 0.22
417 422 5 0.23 0.03 1.42 0.29
87-26-498 (-45° dip)
39 47 8 0.13 0.09 0.86 0.28
67 74 7 0.15 0.06 0.86 0.27
99 143 44 0.19 0.12 1.53 0.40
153 158 5 0.08 0.08 1.25 0.22
87-26-500 (-54° dip)
72 80 8 0.13 0.05 0.96 0.22
102.5 133 30.5 0.23 0.09 2.05 0.40
incl 105.5 118 12.5 0.45 0.15 2.96 0.73
140 145 5 0.24 0.02 0.73 0.28
156 188 32 0.34 0.13 3.55 0.58
incl 158 163 5 0.79 0.47 12.28 1.69
194 213.5 19.5 0.79 0.04 1.19 0.86
incl 212.8 213.5 0.7 18.00 0.02 3.30 18.08
87-26-503 (-45° dip)
21 52.1 31.1 0.16 0.05 1.58 0.25
87-26-504 (-45° dip)
23 44.9 21.9 0.25 0.13 3.23 0.49
incl 40.5 41.1 0.6 2.16 1.71 30.50 5.22
87-26-505 (-45° dip)
35 37 2 0.56 0.03 0.25 0.61
55.5 79 23.5 0.40 0.02 0.30 0.44
incl 66 73 7 0.88 0.02 0.34 0.92
103 109.7 6.7 0.55 0.08 0.94 0.70
119 136 17 0.86 0.08 1.31 0.99
incl 125 126 1 5.62 0.08 0.90 5.76
incl 134 135 1 2.54 0.04 1.00 2.62
158 166 8 0.19 0.02 0.46 0.22
208 218 10 0.18 0.01 0.44 0.20
227 231 4 0.40 0.01 1.16 0.43
238 395.5 157.5 0.82 0.08 0.88 0.95
incl 248 276 28 1.28 0.04 0.99 1.37
incl 315.1 346 30.9 1.47 0.12 0.91 1.68
incl 357 376 19 0.87 0.17 1.54 1.16
incl 367.5 368 0.5 7.33 0.64 4.10 8.38
incl 395 395.5 0.5 6.40 0.07 1.10 6.52
402 407 5 0.45 0.16 1.45 0.72
416 457.5 41.5 0.22 0.03 0.83 0.27
468 501 33 0.28 0.02 0.43 0.33
87-26-508 (-55° dip)
32 34 2 0.74 0.01 0.38 0.75
52 74 22 0.13 0.05 0.42 0.21
117 131 14 0.30 0.04 0.93 0.38
174 216 42 0.27 0.09 0.97 0.43
231 260 29 0.15 0.07 0.81 0.27
266 276 10 0.25 0.05 0.84 0.34
284 380 96 0.90 0.11 2.06 1.10
incl 289 290 1 7.02 0.01 0.50 7.03
incl 320.3 334 13.7 2.28 0.18 2.48 2.59
incl 333 334 1 16.50 0.34 4.50 17.08
incl 355 371.5 16.5 1.60 0.15 3.10 1.88
388.4 392 3.6 0.31 0.06 9.55 0.52
410.6 423.7 13.1 0.29 0.01 0.84 0.31
87-26-509 (-52° dip)
45 47 2 1.34 0.00 0.25 1.35
77 78 1 2.24 0.10 1.80 2.42
94 109 15 0.12 0.08 0.70 0.26
120 139 19 0.15 0.05 0.65 0.25
147 176 29 0.15 0.04 0.74 0.22
190 196 6 0.14 0.05 0.80 0.23
206 209 3 0.29 0.05 0.37 0.37
87-26-514 (-65° dip)
20 23 3 0.58 0.03 0.43 0.63
93 99 6 0.21 0.03 0.25 0.26
315 319 4 0.36 0.03 0.73 0.42
367 376 9 0.17 0.02 0.47 0.22
398 409 11 0.39 0.02 0.64 0.43
87-26-516 (-52° dip)
46 53 7 0.21 0.15 0.05 0.30
* AuEq = Au grade + 1.5628 * Cu grade + 0.0128 * Ag grade
Quality Assurance and Control
During the drill program, one meter assay samples were taken from NQ core and sawed in half. One-half
was sent for assaying at ALS Laboratory in Sudbury Ontario, a certified commercial laboratory, and the
other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied
to all samples; which included insertion of one certified mineralized standard and one blank sample in
each batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns
on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were
higher than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay
was done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of
33 elements four acid ICP-AES.
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.
AuEq Disclosure
The formulas used to calculate equivalent values for resources are as follows, for 87 Pit AuEq = Au +
1.5628*Cu +0.0128 *Ag, for J Pit AuEq = Au + 1.5107*Cu +0.0119 *Ag, for SW Pit AuEq = Au + 1.6823*Cu
+0.0124 *Ag, for X22 Pit AuEq = Au + 1.5628*Cu +0.0128 *Ag. AuEq was calculated using metal prices of
$1,850/oz Au; $4.25/lb Cu and $23.00/oz Ag and recoveries of 93.1% for Au, 88.9% for Ag and 89.3% for
Cu in the J pit, 95.5% for Au, 98.2% for Ag and 94.7% for Cu in the 87 pit, 85.7% for Au, 85.6% for Ag and
91.5% for Cu in the SW pit and 95.5 % for Au, 98.2% for Ag and 94.7% for Cu in the X22 pit.
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 of the drill results on the Company, 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 re serve
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 discover y 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 6 drill program and their possible impact on the potential size of the mineral re source
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”, “ant icipates” 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 statemen ts 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