Troilus Kicks Off Environmental Permitting Process with Filing of Initial Project Notice
TROILUS KICKS OFF ENVIRONMENTAL PERMITTING PROCESS WITH FILING OF INITIAL PROJECT
NOTICE
May 25, 2022 , Montreal, Quebec – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the
“Company”) is pleased to announce that it has filed the Initial Project Description for the Troilus Project
with the Impact Assessment Agency of Canada (“IAAC”) at the Federal level and the Project Notice with
the Ministère de l’Environnement et de la Lutte contre les Changements Climatiques (MELCC) at the
Quebec Provincial level. The filing of the Initial Project Description and the Project Notice are the first step
in the Environmental and Social Impact Assessments (“ESIA”), approval of which are required under
Canadian and Quebec law in order for a mining project to proceed to construction and into production.
The ESIA assesses the environmental, social and economic impacts of a proposed mining project and
includes extensive consultations with local stakeholders, and in particular First Nations.
Justin Reid, CEO and Director of Troilus commented, “The start of the environmental permitting process
moves us another significant step closer to a potential restart of the Troilus mine. The advancement of
work on the upcoming Pre-Feasibility Study goes hand-in-hand with the filing of the Initial Project
Description and Project Notice since we are now in the position to define with a greater degree of detail
and certainty what the Troilus Project could look like in the future. We can now invite stakeholders to
provide their input to ensure that any potential future operation meets the expectations of all involved
from an environmental and social perspective. We look forward to collaborating with our stakeholders
and government regulators as we advance through the environmental permitting process.”
Jacqueline Leroux, Vice President Environment at Troilus added, “Although the filing of the Initial Project
Notice and the Project Description mark the first official step in the permitting process, in fact our team
has been working hard behind the scenes in preparation for this event for the last couple of years. This
has included environmental baseline studies that consider the physical environment and biodiversity
around the mine site over the different seasons, pre-consultation sessions with our local communities to
identify priority issues and establishing important working relationships with government and community
stakeholders. Since Troilus is also a closed mine site, having been in production from 1996 to 2010, we
have a unique opportunity to benefit from the experience gained in the past and as we look ahead we can
incorporate First Nations knowledge of the land into our planning and design that will help us minimize
and mitigate any future environmental impacts.”
At the Federal level, the filing of the Initial Project Notice marks the start of the “Planning Phase”, during
which the IAAC will invite members of the public and Indigenous peoples to provide comment on the
focus and priorities of the ESIA and contribute to planning. The Planning Phases is expected to take 180
days to complete and will result in a set of guidelines for Troilus to follow in preparing the ESIA. At the
Provincial level, MELCC will refer the Initial Project Notice to le Comité d’évaluation des répercussions sur
l’environnement et le milieu social (“COMEV”) to assess the Project’s impact and provide guidelines for
the ESIA, which are expected within 30 days. Since approval is required at both the federal and provincial
level, Troilus will essentially be running a concurrent dual assessment process which will result in two ESIA
reports to address the concerns and priorities at each level of government.
Figure 1 – Major Components and Sequence for Permitting a Mine in Quebec
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.
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
timing of the ESIA process and government approvals, 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 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 invest ors 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 ability of the Company to achieve full carbon neutrality now or in the future;; 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 r esults, 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, amo ngst 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: 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 degree 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 contin uous 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.