Troilus Drills 8.84 G/T AuEq over 4.8 M at Z87, Confirming High-Grade Mineralization 400 M Beyond Current Resource Pit Shell *8.84 G/T AuEq (7.02 G/T Au, 21.63 G/T AG, 1.03% Cu) over 4.8 M
TROILUS DRILLS 8.84 G/T AUEQ OVER 4.8 M AT Z87, CONFIRMING HIGH-GRADE
MINERALIZATION 400 M BEYOND CURRENT RESOURCE PIT SHELL
*8.84 G/T AUEQ (7.02 G/T AU, 21.63 G/T AG, 1.03% CU) OVER 4.8 M
August 20, 2026, Montreal, Quebec – Troilus Mining Corp. (“Troilus” or the “Company”) (TSX: TLG;
OTCQX: CHXMF; FSE: CM5) is pleased to announce results from five drill holes totaling 2,915 metres
completed as part of the ongoing Z87 extension drilling program at its gold-copper Troilus Project located
in north-central Quebec, Canada.
All five holes were extensions of existing drillholes originating from the J Zone and were designed to test
the down-plunge continuity of high-grade Z87 mineralization beyond the existing mineral resource (see
the 2023 Mineral Resource Estimate in the October 16, 2023, press release).
Z87 Underground Target Intercept Highlights (see Figure 1 and 2):
Hole TLG-ZJ20-222-EXT26 intersected 8.84 g/t gold equivalent (“AuEq”) (7.02 g/t Au, 21.63 g/t Ag,
1.03% Cu) over 4.8 m, including 23.58 g/t AuEq (22.70 g/t Au, 21.70 g/t Ag, 0.41% Cu) over 1 m and
7.04 g/t AuEq (4.06 g/t Au, 30.96 g/t Ag, 1.73 % Cu) over 2.8 metres starting at 859 metres downhole.
See core photo in Figure 3.
Hole TLG-ZJ419-094-EXT26 intersected 5.07 g/t AuEq (3.65 g/t Au, 12.26 g/t Ag, 0.84 % Cu) over 5 m,
including 7.79 g/t AuEq (5.73 g/t Au, 17.93 g/t Ag, 1.22 % Cu) over 3 metres starting at 842 metres
downhole.
Hole J-22-344-EXT26 intersected 2.08 g/t AuEq (1.93 g/t Au, 1.88 g/t Ag, 0.09 % Cu) over 6.17 m,
including 9.26 g/t AuEq (8.94 g/t Au, 4.20 g/t Ag, 0.18 % Cu) over 1.37 metres starting at 995.2 metres
downhole.
Hole TLG-ZJ19-165-EXT26 intersected 2.84 g/t AuEq (2.38 g/t Au, 4.16 g/t Ag, 0.27 % Cu) over 3.7 m
within a broader zone of 1.71 g/t AuEq (1.32 g/t Au, 2.87 g/t Ag, 0.23 % Cu) over 8.2 metres starting
at 989.5 metres downhole.
Justin Reid, CEO of Troilus, commented, “The results reported today are an encouraging reminder of the
significant opportunity that remains at depth at Troilus. Since acquiring the Project, our development plan
has evolved from an initial underground concept beneath the historically mined J and Z87 pits into a much
larger, 50,000 tonne-per-day open-pit operation. These latest results reinforce the compelling
underground potential that remains beneath Z87. By re-entering and extending five existing drill holes
into the interpreted high-grade core, we intersected mineralization in every hole and confirmed high-
grade continuity at least 400 metres beyond the existing resource pit shell. These results provide valuable
new data for future geological model updates as we continue evaluating the longer-term scale, flexibility
and optionality of the Troilus Project.”
The drilling forms part of Troilus’ 2026 exploration program, as outlined in the March 31, 2026 press
release. All reported grades are uncut, and true thicknesses are estimated at 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.
Figure 2. Long section showing assay results for Z87 underground target drill program. Section is
inclined at ~60° to follow the dip of the ore body.
Z87 Underground Target Drilling
The Z87 underground target drill program was designed to confirm down-plunge continuity of the high-
grade core of Z87. Five existing J Zone drill holes were re-entered and extended to test Z87 targets at
depth, up to 400 metres beyond the existing resource model. Drilling totaled 2,915 metres (2,733 metres
were saved due to the reentering of existing holes).
All drillholes intersected mineralization (see Figure 2), with hole TLG-ZJ20-222-EXT26 returning 8.84 g/t
AuEq over 4.8 metres including 23.58 g/t AuEq over 1 metre from Z87 approximately 300 metres beyond
the limits of the existing mineral resource. Two hundred metres further up trend, drillhole TLG-ZJ419-094-
EXT26 returned 5.07 g/t AuEq over 5 metres including 7.79 g/t AuEq over 3 metres. Drillhole TLG-ZJ19-
165-EXT26 returned 2.84 g/t AuEq over 3.7 metres within a broader zone of 1.71 g/t AuEq over 8.2 metres,
which was the furthest down-plunge intersection in Z87 and extended the known mineralization 400
metres beyond the current resource, . Drillhole TLG-ZJ19-151-EXT26 intersected the interpreted lower-
grade margin of the Z87 zone approximately 200 metres north of TLG-ZJ20-22-EXT26, and confirmed
geological continuity of the mineralizing system, and highlighting several hundred metres of untested
geology in every direction.
The Parker granite (see Figure 2 – inferred granite contact shown in pink) is interpreted to have intruded
the Troilus area after the primary mineralizing events and as a result, the exploration potential within the
granite is poor. However, the contact between the Troilus deposit and the Parker granite is largely inferred
down-plunge of the Z87 high-grade zone and despite the post-mineralization timing of the granitic rocks,
there have been observed occurrences of high-grade mineralization within granitic dykes that intrude pre-
existing mineralization. Hole TLG-ZJ20-222 has produced the highest-grade and most continuous example
of this style of mineralization (see Figure 3), with veins of chalcopyrite, pyrrhotite and pyrite filling a
fracture and vein network that coalesces locally into breccias. It is believed that in this case, the high-
grade gold, silver and copper mineralization hosted in granitic dykes relates to localized remobilization
and upgrading of the primary ore, opening the door for more discoveries of this kind within the
surroundings of the Parker granite. The granitic dykes appear concordant (intruded parallel to older
geological units) with biotite and albite alteration, and display typical coarse-grained magmatic textures.
The remaining holes drilled as part of this program intersected the more typical volcanic-hosted
mineralization where these key stratigraphic layers are intersected by porphyry dykes.
Figure 3. Core photos of hole TLG-ZJ20-222-EXT26 with assay results. Mineralization is hosted within
deformed and fractured felsic dykes related to the Parker granite.
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)
TLG-ZJ19-094-EXT26 (519m original depth, -53° dip)
513 529 16 0.24 0.11 1.38 0.42
incl 528 529 1 1.56 0.39 4.30 2.20
560 561 1 1.36 0.00 0.25 1.37
603 623 20 0.16 0.02 0.49 0.21
incl 622 623 1 1.56 0.02 0.25 1.59
644 646 2 2.54 0.05 1.05 2.63
incl 645 646 1 4.66 0.04 1.60 4.75
682.6 694 11.4 0.18 0.11 0.74 0.35
700 704 4 0.17 0.09 1.13 0.31
771 774 3 0.71 0.06 1.03 0.82
incl 771 772 1 1.64 0.18 2.60 1.94
787 878 91 0.62 0.14 2.27 0.86
incl 788 798 10 0.87 0.29 3.50 1.34
incl 791 792 1 2.32 0.44 4.20 3.03
incl 827 828 1 3.16 0.00 0.25 3.17
incl 842 878 36 1.06 0.20 3.74 1.41
incl 842 847 5 3.65 0.84 12.26 5.07
incl 844 847 3 5.73 1.22 17.93 7.79
incl 844 845 1 10.30 1.02 16.80 12.04
incl 861 862 1 3.31 0.56 16.80 4.36
incl 871 871.7 0.7 2.08 0.21 6.00 2.47
incl 877 878 1 3.01 0.06 3.90 3.15
TLG-ZJ19-151-EXT26 (498m original depth, -61° dip)
528 538 10 0.19 0.01 0.40 0.21
594 604 10 0.23 0.02 0.32 0.26
638 646 8 0.24 0.00 0.25 0.25
679 692 13 0.10 0.07 0.78 0.21
698 706.7 8.7 0.26 0.12 1.27 0.46
810 822 12 0.11 0.10 1.04 0.28
829 840.2 11.2 0.08 0.08 1.13 0.21
846 850.75 4.75 0.09 0.11 1.67 0.28
869 886 17 0.25 0.07 1.18 0.37
893 898 5 0.28 0.03 0.74 0.33
TLG-ZJ19-165-EXT26 (540m original depth, -65° dip)
553 555 2 1.18 0.05 1.20 1.28
572 575 3 0.44 0.03 1.00 0.50
585 590 5 0.41 0.08 2.26 0.56
659 660 1 0.67 0.40 4.50 1.32
668 676 8 0.20 0.11 2.54 0.39
777 783 6 0.10 0.07 0.61 0.21
813 817 4 0.16 0.07 0.39 0.28
837 840 3 0.51 0.10 0.98 0.67
856 880 24 0.19 0.10 1.58 0.35
904 912 8 0.12 0.10 2.12 0.30
936 1019.55 83.55 0.33 0.09 1.17 0.47
incl 989.5 997.7 8.2 1.32 0.23 2.87 1.71
incl 994 997.7 3.7 2.38 0.27 4.16 2.84
1061 1065 4 0.20 0.01 3.72 0.26
TLG-ZJ20-222-EXT26 (501.3m original depth, -63° dip)
500 512 12 0.22 0.11 2.31 0.41
527 532 5 0.55 0.15 3.89 0.82
incl 529.1 529.6 0.5 3.93 0.54 17.70 4.96
538.2 561 22.8 0.22 0.08 1.40 0.37
incl 541.5 542 0.5 3.14 0.44 16.60 4.00
607.8 609 1.2 3.18 0.01 0.25 3.19
654.1 659 4.9 0.12 0.16 3.09 0.39
incl 654.1 654.6 0.5 0.45 1.13 24.40 2.44
699.55 714 14.45 0.12 0.08 0.87 0.26
750 759 9 0.09 0.07 0.88 0.21
779 789 10 0.19 0.09 1.30 0.34
798 804 6 0.17 0.04 0.55 0.24
811 821 10 0.29 0.09 1.19 0.44
843 848.65 5.65 1.05 0.41 6.27 1.75
incl 844 848 4 1.35 0.50 7.93 2.21
857.2 902 44.8 1.35 0.22 4.52 1.73
incl 859 863.8 4.8 7.02 1.03 21.63 8.84
incl 859 860 1 22.70 0.41 21.70 23.58
incl 861 863.8 2.8 4.06 1.73 30.96 7.04
incl 876 898 22 0.87 0.16 3.27 1.15
incl 882 883.2 1.2 4.48 0.31 7.70 5.04
J-22-344-EXT26 (675m original depth, -60° dip)
697 712 15 0.31 0.01 0.31 0.32
768 784 16 0.18 0.06 0.51 0.28
795 808 13 0.18 0.07 0.49 0.29
827 832 5 0.29 0.06 0.58 0.39
838 845 7 0.16 0.07 0.54 0.27
931 967.92 36.92 0.32 0.13 1.54 0.54
973.33 980 6.67 0.18 0.12 2.56 0.38
987 1007 20 1.00 0.08 1.73 1.14
incl 995.2 1007 11.8 1.61 0.10 2.17 1.79
incl 995.2 1001.37 6.17 1.93 0.09 1.88 2.08
incl 1000 1001.37 1.37 8.94 0.18 4.20 9.26
* 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 North 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 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 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 expecte d”, “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 or reserves; 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 int ended. 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.