Troilus Files Technical Report
Troilus Files Technical Report
TORONTO, Dec. 23, 2019 -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) today announces
the filing of a technical report (the “Technical Report”) for its 100% owned Troilus property located 170 km by road north of
Chibougamau, in northwestern Quebec, Canada (the “Troilus Project”). The Technical Report, dated December 20, 2019
effective October 31, 2019 supports the scientific and technical disclosure in the updated mineral resource estimates (see
news release dated November 12, 2019).
The Technical Report titled, “Technical Report on the Troilus Gold-Copper Project Mineral Resource Estimate, Quebec,
Canada” was prepared by Mr. Luke Evans, M.Sc., P.Eng., Executive Vice President, Geology and Resource Estimation,
Principal Geological Engineer at Roscoe Postle Associates Inc. Mr. Evans is an independent Qualified Person in accordance
with the requirements of National Instrument 43-101 (“NI 43-101”). The Technical Report is available on SEDAR at
www.sedar.com and on the Company’s website at www.troilusgold.com.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Bertrand Brassard, M.Sc.,
P.Geo., Senior Project Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Brassard is an employee of Troilus
and is not independent of the Company under NI 43-101.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the
mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 16,000-hectare Troilus property
is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated
the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.
For more information:
Paul Pint
President
+1 (416) 602-1050
Cautionary Note Regarding Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral
Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be
converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement
will be realized.
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 implications of the updated
mineral resource estimate and drill results on the Company, the possible economics of the project and the Company’s
understanding of the project; 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; the anticipated results of the
Company’s planned 2020 drill program and their possible impact on the potential size of the mineral resource estimate; 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; and the
anticipated timing of filing the Technical Report. 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 will result in expanded mineral resources; risks and uncertainties inherent to
mineral resource estimates; receipt of necessary approvals; general business, economic, competitive, political and social
uncertainties; future prices of mineral 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 to be filed 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 undertake to update any forward-looking statements, except in accordance with applicable
securities laws.
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources
These mineral resource estimates have been prepared in accordance with the requirements of Canadian securities laws, which
differ from the requirements of U.S. securities laws. The terms “mineral resource”, “measured mineral resource”, “indicated
mineral resource” and “inferred mineral resource” are defined in NI 43-101 and recognized by Canadian securities laws but are
not defined terms or recognized under U.S. securities laws. U.S. investors are cautioned not to assume that any part or all of
mineral deposits in these categories will ever be upgraded to mineral reserves. “Inferred mineral resources” have a great
amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian
securities laws, estimates of “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies. U.S.
investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally
mineable. Accordingly, these mineral resource estimates and related information may not be comparable to similar
information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal
securities laws and the rules and regulations thereunder.