Troilus Drills 164 M Grading 0.95 G/T AuEq While Testing Unsampled Historic Drillhole Intervals IN the Z87 Reserve Pit *0.95 G/T AuEq (0.83 G/T Au, 1.30 G/T AG, 0.06 % Cu) over 164 M
TROILUS DRILLS 164 M GRADING 0.95 G/T AUEQ WHILE TESTING UNSAMPLED HISTORIC
DRILLHOLE INTERVALS IN THE Z87 RESERVE PIT
*0.95 G/T AUEQ (0.83 G/T AU, 1.30 G/T AG, 0.06 % CU) OVER 164 M
July 7, 2026, Montreal, Quebec – Troilus Mining Corp. (“Troilus” or the “Company”) (TSX: TLG; OTCQX:
CHXMF; FSE: CM5), is pleased to announce additional results from the Z87 optimization drill program, as
part of its ongoing 2026 exploration activities at the Troilus Project located in north-central Quebec,
Canada. The results reported include 7 drill holes totalling 1,845 metres, following the exploration
program outlined in the Company’s March 31, 2026 press release. To date, Troilus has released results
from 20 drill holes totalling 5,563 metres of the approximately 24,000 metres allocated to the Z87 pit
optimization program, which is targeting inferred and historically unsampled material within and around
the Z87 reserve pit shell.
The ongoing Z87 optimization program is designed to upgrade inferred material and target 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 continue to 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 87-26-507 intersected 0.95 g/t gold equivalent (“ AuEq”) (0.83 g/t Au, 1.30 g/t Ag, 0.06 % Cu)
over 164 m, including 1.38 g/t AuEq (1.26 g/t Au, 1.09 g/t Ag, 0.07 % Cu) over 46 m starting at 373 m
downhole, and 1.22 g/t AuEq (1.06 g/t Au, 1.74 g/t Ag, 0.09 % Cu) over 61 metres, including 3.10 g/t
AuEq (2.70 g/t Au, 1.82 g/t Ag, 0.24 % Cu) over 9 m starting at 476 m downhole. This intercept expands
the main zone beyond limited historic sampling.
Hole 87-26-487 intersected 0.82 g/t AuEq (0.66 g/t Au, 0.93 g/t Ag, 0.09 % Cu) over 39.6 m, including
1.36 g/t AuEq (1.10 g/t Au, 1.36 g/t Ag, 0.15 % Cu) over 17m from the Z87 hangingwall starting at 164
m downhole.
Hole 87-26-501 intersected 0.64 g/t AuEq (0.51 g/t Au, 0.90 g/t Ag, 0.07 % Cu) over 75 m, including
1.31 g/t AuEq (0.94 g/t Au, 2.91 g/t Ag, 0.21 % Cu) over 14m from the Z87 hangingwall starting at 190
m downhole.
Justin Reid, CEO of Troilus, commented, “This deposit keeps getting better. These latest results from Z87
continue to demonstrate the value of our optimization program and the opportunity that remains within
the existing reserve pit. With two drills active at site this year, we are systematically testing areas where
historical drilling left meaningful gaps in the model, while also targeting inferred material for potential
upgrading. If we can define additional ore tonnes within the current mine design, we believe there is a real
opportunity to improve strip ratios, enhance sequencing flexibility and provide greater optionality as we
plan to feed the future 50,000 tonne-per-day operation.”
Z87 was one of two zones previously mined by open pit. Many of the historic drillholes 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 is designed to test these gaps and evaluate areas currently
treated as waste in the mine plan for potential mineralization. The program is also targeting opportunities
to upgrade inferred material to the indicated category, which could allow for incorporation into future
resource, reserve and 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.troilusmining.com
Figure 1. Plan map with the reported drill hole locations from Z87
Figure 2. Cross section showing results for drillhole 87-26-497 and 87-26-507. Historic drillhole KN-664
shows limited sampling.
Figure 3. Cross section showing results for drillhole 87-26-487 and 87-26-501.
Z87 Drilling
Drillhole 87-26-507 was planned to test an area of unsampled material from historic drilling within the
Z87 reserve pit. The historic drillhole that intersected this area (KN-664) was only sampled as it passed
through the primary Z87 ore zone. Drillhole 87-26-507 returned 164 metres grading 0.95 g/t AuEq,
including 1.38 g/t AuEq over 46 metres and 1.22 g/t AuEq over 61 metres. This result presents a much
larger mineralized zone than was intersected in historic hole KN-664, which returned just 98 metres
grading 1.28 g/t AuEq. Assay data from historic hole KN-664 is currently being used in the resource
estimation, with unsampled intervals assigned a value equal to half the laboratory analysis detection limit.
The use of this historic data has resulted in large gaps in the block model, particularly in the hangingwall
of the main Z87 ore zone.
Additional to the broad mineralization drillhole 87-26-507 encountered in this main zone, it also returned
significant results of 16 metres grading 0.44 g/t AuEq including 0.85 g/t AuEq over 7 metres, and 0.50 g/t
AuEq over 11 metres including 1.49 g/t AuEq over 1 metre from the Z87 hangingwall. These intercepts,
along with 15 metres grading 0.53 g/t AuEq including 2.89 g/t AuEq over 1 metre, 1.34 g/t AuEq over 4.1
metres and 0.77 g/t AuEq over 11 metres from drillhole 87-26-497 will result in a remodel of Z87
hangingwall mineralization that could positively impact the strip ratio of the Z87 phase 1 pit.
Drillholes 87-26-487 and 87-26-501 also returned significant intercepts from the Z87 hangingwall. 87-26-
487 returned 39.6 metres grading 0.82 g/t AuEq including 1.36 g/t AuEq over 17 metres from an area of
the block model that does not currently contain significant mineralization. Approximately 65 metres down
dip of this intercept, drillhole 87-26-501 returned 75 metres grading 0.64 g/t AuEq including 1.31 g/t AuEq
over 14 metres. This new high-grade trend appears continuous with an intercept of 1.37 g/t AuEq over 28
metres from drill hole 87-26-505 (see June 25, 2026 press release). Updated modelling that includes these
new results could positively impact the strip ratio within the Z87 phase 1 pit.
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)
87-26-476 (-50° dip)
26 34 8 0.18 0.03 0.62 0.24
57 65 8 0.21 0.01 0.28 0.23
87-26-477 (-50° dip)
44.2 48 3.8 2.15 0.04 5.27 2.27
87-26-479 (-50° dip)
15 28 13 0.21 0.01 0.28 0.23
33.9 36 2.1 2.20 0.08 4.52 2.38
44.3 51 6.7 0.18 0.03 0.69 0.23
87-26-487 (-50° dip)
31 35.7 4.7 0.26 0.04 5.56 0.39
63 72.2 9.2 0.37 0.00 0.25 0.38
91 95 4 0.50 0.04 0.69 0.57
109 114 5 0.55 0.02 0.30 0.59
120 158.3 38.3 0.30 0.02 0.27 0.33
164 203.6 39.6 0.66 0.09 0.93 0.82
incl 169 186 17 1.10 0.15 1.36 1.36
217 223 6 0.31 0.01 0.25 0.32
236 245 9 0.24 0.01 0.28 0.26
252 260.5 8.5 0.21 0.02 0.30 0.24
296.3 359.5 63.2 0.29 0.08 0.62 0.41
366 380 14 0.61 0.02 0.46 0.65
403 426.3 23.3 0.30 0.03 0.76 0.37
87-26-497 (-53° dip)
21.62 25 3.38 0.35 0.01 0.25 0.37
34 49 15 0.46 0.04 0.94 0.53
incl 48 49 1 2.70 0.09 4.10 2.89
78 97 19 0.25 0.04 0.65 0.32
122 132 10 0.27 0.08 1.12 0.42
168 171 3 0.39 0.11 1.55 0.58
195.7 220.3 24.6 0.19 0.04 1.68 0.27
262 266.1 4.1 1.08 0.15 2.30 1.34
280 291 11 0.62 0.08 1.33 0.77
301 318 17 0.15 0.04 0.86 0.22
341 357 16 0.27 0.06 1.27 0.38
87-26-501 (-53° dip)
35 56 21 0.19 0.02 0.30 0.22
72 82 10 0.19 0.01 0.31 0.21
120 124 4 0.21 0.06 1.74 0.33
130 138 8 0.40 0.00 0.25 0.41
154 159 5 0.55 0.05 0.89 0.64
166 182 16 0.46 0.04 0.85 0.53
190 265 75 0.51 0.07 0.90 0.64
incl 196 200 4 1.00 0.10 0.78 1.17
incl 210 219 9 0.88 0.04 0.36 0.96
incl 237 251 14 0.94 0.21 2.91 1.31
87-26-507 (-50° dip)
144 145 1 1.89 0.03 0.25 1.95
159 175 16 0.37 0.04 0.42 0.44
incl 161 168 7 0.72 0.08 0.63 0.85
185 191 6 0.21 0.03 0.54 0.27
288 289 1 2.64 0.06 1.40 2.75
320 325 5 0.35 0.11 4.19 0.58
334 345 11 0.46 0.02 0.54 0.50
incl 337 338 1 2.41 0.05 0.60 2.49
373 537 164 0.83 0.06 1.30 0.95
incl 373 470 97 0.73 0.05 1.08 0.83
incl 411 457 46 1.26 0.07 1.09 1.38
incl 421 422 1 9.27 0.25 8.20 9.77
incl 454 455 1 21.10 0.05 1.30 21.19
incl 476 537 61 1.06 0.09 1.74 1.22
incl 480 481 1 7.76 0.05 0.80 7.84
incl 493 502 9 2.70 0.24 1.82 3.10
incl 499 500 1 14.45 0.31 2.70 14.96
incl 529 530 1 11.85 0.12 53.90 12.73
* 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 i t 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