Troilus GOLD Corp. Defines Significant Mineral Resource
TROILUS GOLD CORP. DEFINES SIGNIFICANT MINERAL RESOURCE
November 19, 2018, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or
the “Company”) is pleased to provide a mineral resource estimate from its 100% owned Troilus gold
and copper property located Northeast of the Val-d’Or district in Chibougamou Quebec, Canada (the
“Troilus Project”). This resource estimate is the result of over 36,000 metres (91 drill holes) of drilling
completed by the Company from February 2018 to August 2018. Exploration activities as part of the
2019 drill program will commence in Q1 2019.
Highlights:
• Increases total estimated mineral resource by approximately 90% from the 2016 mineral
resource estimate
• Updates the estimated indicated resource to 3.92Moz AuEq and the estimated inferred
resource to 1.17Moz AuEq
Table 1 - Mineral Resource Estimate Summary – Effective as of November 19, 2018
Classification
Tonnage Au Cu AuEq Contained Contained Contained
(Mt) (g/t) (%) (g/t) Gold Copper AuEq
(Moz) (Mlb) (Moz)
Total Open Pit and Underground
Indicated 121.7 0.87 0.086 1.00 3.40 231.8 3.92
Inferred 36.1 0.88 0.083 1.01 1.02 66.2 1.17
Total Open Pit
Indicated 97.5 0.76 0.078 0.88 2.37 167.0 2.7
Inferred 21.7 0.60 0.062 0.69 0.42 29.7 0.5
Total Open Pit Z87
Indicated 56.6 0.83 0.096 0.98 1.51 119.4 1.8
Inferred 12.1 0.58 0.066 0.68 0.23 17.5 0.3
Total Open Pit J4-J5
Indicated 40.8 0.66 0.053 0.74 0.86 47.6 1.0
Inferred 9.6 0.61 0.058 0.70 0.19 12.2 0.2
Total Underground
Indicated 24.2 1.32 0.121 1.50 1.02 64.8 1.2
Inferred 14.4 1.31 0.115 1.49 0.61 36.5 0.7
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Open pit Mineral Resources were estimated at a cut-off grade of 0.3 g/t AuEq and were constrained by a
Whittle pit shell. Underground Mineral Resources were estimated at a cut-off grade of 0.9 g/t AuEq.
3. Mineral Resources were estimated using long-term metal prices of US$1,400 per ounce gold and US$3.25
per pound copper; and an exchange rate of US$1.00 = C$1.25.
4. AuEq = Au Grade + 1.546 * Cu grade
5. A recovery of 83% was used for gold and 92% for copper.
6. Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources.
7. Due to rounding, some columns or rows may not compute exactly as shown.
8. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The
estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation,
socio-political, marketing, or other relevant issues.
“In ten short months since the formation of Troilus, we have outlined what could be one of Quebec’s
most significant gold development assets.” said Justin Reid, CEO of Troilus Gold Corp. “Our investors will
continue to benefit from our low discovery costs, mine development expertise and support from our
local communities. This resource estimate is the cornerstone upon which we will grow and build the
future of Troilus.”
“This resource is the culmination of intense drilling and systematic mapping over the course of nearly a
year,” said Blake Hylands, SVP Exploration of Troilus Gold Corp. “It represents a fundamental change in
thinking at Troilus.”
The mineral resource estimate was prepared pursuant to National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”) by Roscoe Postle and Associates and has been reviewed
internally by the Corporation. The full technical report, will be available on SEDAR (www.sedar.com)
under the Corporation’s issuer profile within 45 calendar days (the “Technical Report”).
2018 Drill Program
The intent of the 2018 Drill Program was to confirm and expand the underground potential at Z87,
explore open pit potential at the J Zone, and discover new opportunities for resource development
across the property. In February 2018, the Company commenced a planned 30,000 metre drill program,
which was subsequently expanded to approximately 36,000 metres. The program focused on two
primary areas Z87 and the J Zone (J4 and J5). During the summer, property wide exploration also
occurred with a focus on Southwest and J4 North extension.
Z87
Mineralization at Z87 is hosted in breccias and amphibolite grade metamorphic rocks within a much
broader, 4.5 kilometre by 400 metre, metamorphosed diorite, known as the Troilus Diorite. Fine-grained
disseminated gold accounts for approximately 90% of mineralization at Troilus, primarily as native gold
and electrum with grains as large as 20 microns. Chalcopyrite, Pyrite, and Pyrrhotite are broadly
disseminated throughout the mineralized body, which are rarely associated with gold (<1-3%). Vein-
hosted gold accounts for approximately 10% of mineralization which are responsible for high grade
intercepts (>50gpt over 1 m) at Troilus.
The broad geology and style of mineralization at Z87 creates a large deposit area, nearly 1 kilometre
along strike and 30-50 metres wide, which remains open both along strike and down dip
J Zone (J4 and J5)
The J Zone, directly northeast of Z87 is characterized by the same mineralization and geology as Z87
remains open at depth and along strike. Our inherited database suggested the potential for additional
near surface mineralization and open pittable potential. The 2018 Drill Program, has successfully
expanded the open pit and underground estimated mineral resource below these lesser historic pits.
Quality Control
During the 2018 Drill Program, one metre assay samples are taken from NQ core and sawed in half. One-
half is sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half is
retained for results, cross checks, and future reference. A strict QA/QC program is applied to all samples;
which include insertion of one certified mineralized standard and one blank sample in each batch of 25
samples. The gold analyses were by fire-assay on 50 grams of pulp with an atomic absorption finish.
Repeats were carried out by fire-assay with a gravimetric finish on each sample containing 3.5 g/t Au or
more.
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 4,700-hectare Troilus property is located Northeast of the Val-d’Or mining district,
within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1997 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.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Bruno
Perron, P.Eng., Senior Technical Manager, who is a Qualified Person as defined by National Instrument
43-101. Mr. Perron is an employee of Troilus and is not independent of the Company under National
Instrument 43-101.
The resource estimate was prepared by RPA Principal Geological Engineer Luke Evans, M.Sc., P.Eng., and
a supporting technical report will be available on SEDAR (www.sedar.com) under the Corporation’s
issuer profile within 45 calendar days. Mr. Evans, who is an independent Qualified Person under NI 43-
101, has reviewed and approved the resource estimate in this release.
For more information:
Spyros Karellas
Communications Manager
+1 (416) 433-5696
Cautionary statements
The Mineral Resource estimates contained herein may be subject to legal, political, environmental or
other risks that could materially affect the potential development of such Mineral Resources. See the
Technical Report for more information with respect to the key assumptions, parameters, methods and
risks of determination associated with the foregoing.
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements regarding
the impact of the updated mineral resource estimate and drill results on the Company, the projected
economics of the project, and the Company’s understanding of the project; statements with respect to
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; government regulation of
mining operations; and environmental risks and the receipt of any required regulatory approvals.
Generally, forward-looking information 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”, “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”, “might” or
“will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and
unknown risks, uncertainties and other 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 information, 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 and 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 information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such information 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 information. Troilus does not
undertake to update any forward-looking information, except in accordance with applicable securities
laws.
Cautionary note to U.S. investors concerning estimates of Mineral Resources
These 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.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS
RELEASE