Troilus Refiles Amended and Restated Third Quarter Financial Statements
TROILUS REFILES AMENDED AND RESTATED THIRD QUARTER FINANCIAL STATEMENTS
SEPTEMBER 23, 2024, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG ;
OTCQX: CHXMF ; FSE: CM5R ) announces the Company filed restated Q3 financial statements with the
corresponding management discussion & analysis (“MD&A”), initially filed on June 14th, 2024. The
decision follows a review that amends the accounting treatment of the Company’s holdings in Prospector
Metals Corp. (“Prospector”), which impacted the previously reported figures and has led to the need for
this correction. As a result, the previous Q3 2024 financial statements and the corresponding
management discussion & analysis should no longer be relied upon.
Previously, the Company classified its holdings in Prospector as an investment in securities under IFRS 9,
Financial Instruments; however, upon review and consultation with its auditors, management has
determined that the Company has significant influence due to its board nomination rights and
shareholdings. Consequently, the investment has been classified as an investment in associate, accounted
for using the equity method. Currently, the Company owns approximately 18% of Prospector (see news
release dated March 5, 2024).
The effect of the restatement does not impact the Company's ongoing cash position and the changes are
non-cash in nature. All other disclosure in the amended and restated financial statements and
corresponding amended MD&A remains essentially the same as w hen such documents were originally
filed except for certain noted subsequent events.
The corrected Q3 financial statements and MD&A are now available on the Company’s website at
www.troilusgold.com and can be found at SEDAR+ (www.sedarplus.com) under the Company’s issuer
profile.
For more details, please refer to the updated 2024 fiscal third-quarter financial statement on SEDAR+.
About Troilus Gold Corp.
Troilus Gold 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) 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 impact of the restatement and refiling 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 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; 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.