Troilus Engages Tugliq Energy to Develop a Roadmap to a Carbon Neutral Future
TROILUS ENGAGES TUGLIQ ENERGY TO DEVELOP A ROADMAP TO A CARBON NEUTRAL FUTURE
February 24, 2022, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG) (OTCQ X: CHXMF) (“Troilus” or the
“Company”) is pleased to announce that it has engaged Quebec-based Tugliq Energy Corp. (“Tugliq”) to
conduct an inventory of its historical and current GHG emissions and develop a roadmap towards a future
carbon neutral mining operation (the “Troilus Carbon Neutral Roadmap”) . Tugliq provides alternative
energy solutions for autonomous networks, including remote communities and mining operations that
rely on fossil fuels for energy generation, transportation and heat.
The Troilus mine site already benefits from a fully operational 50MVA electricity substation connected to
the Quebec electric grid that remains in place from the previous mining operation. The electricity
delivered to the existing substation is derived from hydroelectric power – a renewable source of energy
that will help to minimize any future operation’s carbon footprint. It is anticipated that the existing
infrastructure can be upgraded to provide sufficient electricity to power a future mining operation
averaging 246,000 ounces of gold per annum as envisioned in the Preliminary Economic Assessment (see
press release dated August 31, 2020). However, some fossil fuel use is still anticipated, and the purpose
of Troilus Carbon Neutral Roadmap will be to identify opportunities to reduce or eliminate the use of such
fuels and their resulting GHG emissions.
Troilus CEO and Director Justin Reid commented, “One of the major competitive and environmental
advantages of the Troilus mine site that we acquired in 2017, was the pre -existing substation and
connection to the provincial grid that provide access to sufficient low-cost renewable energy to power
the future production envisioned in the PEA. But we know there is more we can do now and in the future
to reduce and offset GHG emissions from activities and machinery that we are unable to connect to the
grid such as drilling, vehicles and back -up generators. Tugliq has extensive experience working with
Canadian mining operations in locations across Canada even more remote than ours and we believe with
their expertise and guidance we can identify key actions that will help reduce our carbon footprint. As we
finalize the engineering and design of the future operation for the upcoming Pre-Feasibility Study (“PFS”),
we will have the tools available to make sustainable energy consumption choices. The decisions we make
now can have a long-term positive impact over the course of the future potential mine life and we know
that minimizing our carbon footprint is a desirable ou tcome for our team, our shareholders and the
community in which we operate. It is our objective to develop a mining operation with the potential to
achieve complete carbon neutrality. This is the future of mining.”
Figure 1. 50MVA Electricity Substation Located on the Troilus Site
Phase One of the Troilus Carbon Neutral Roadmap will focus on auditing past and current GHG emissions
(which will have mainly been generated through drilling, vehicle usage and travel) and seeking means to
offset these emissions, with a priority on focusing carbon offsets in the Province of Quebec. Phase Two of
the Troilus Carbon Neutral Roadmap will be an examination of the planned mining operation to identify
new technologies and alternative energy solutions with the objective of reducing future consumption of
fossil fuels.
Although still in the exploration and development phase, Troilus places a high priority on ESG initiatives.
Working closely with local government, employees, communities and First Nations, Troilus is committed
to developing a sustai nable mining operation in Northern Quebec that will have a positive contribution
for all stakeholders for many years to come.
About Troilus Gold Corp.
Troilus Gold Corp. is a Canadian -based junior mining company focused on the systematic advancement
and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the
Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in
the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km²
in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has
demonstrated the tremendous scale potential of the gold system on the property with significant mineral
resource growth. The Company is advancing engineering studies following the completion of a robust PEA
in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper
producing asset in Canada. Led by an experienced team with a track -record of successful mine
development, Troilus is positioned to become a cornerstone project in North America.
About Tugliq Energy Corp.
TUGLIQ Energy Corp. is a Canadian company based in Montreal, Quebec, specializing in renewable
integration, microgrid development and clean power production. TUGLIQ's mission is to offer alternative
energy solutions for autonomous networks such as remote communities and mining operations that
currently rely on fossil fuels for energy generation. TUGLIQ has a proven track record in various renewable
technologies, including wind, solar and energy storage as well as electrification of transport specifically
adapted to extreme climates and logistically challenging locations.
TUGLIQ has developed leading-edge expertise to provide cost-saving carbon emissions reductions
through energy projects and client-customized carbon reduction planning. TUGLIQ brings a turnkey
approach so that clients can focus on mission-critical activities while adopting forward-thinking energy
and sustainability strategies to their operations.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
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 potential impact of the study on the Company and the likelihood that the results projected, including
without limitation that the Company will be able to reduce its carbon footprint, on the timeline targeted
or at all, timing of future studies including the pre-feasibility study, environmental assessments (including
the timing of an environmental impact study) and development plans, opportunity to expand the scale of
the project, the project becoming a cornerstone mining project in Quebec and Canada; 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; 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; the antici pated results of the
Company’s 20 22 drill program and their possible impact on the potential size of the mineral resource
estimate; the ongoing impact of the novel coronavirus (COVID -19) and the considerable uncertainties
about the geographic, social and economic impact on the Company . 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 expr essed 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 f orward-looking statements, including but not limited to: the impact the COVID 19
pandemic may have on the Company’s activities (including without limitation on its employees and
suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact
on gold and other metals; 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
estimates; the high degre e of uncertainties inherent to preliminary economic assessments and other
mining and economic studies which are based to a significant extent on various assumptions; variations in
gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour;
receipt of necessary approvals; 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 Technical
Report 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 under take to update any forward- looking statements, except in
accordance with applicable securities laws.