Troilus Signs Memorandum of Understanding with Boliden FOR Long‑term Copper‑gold Concentrate Offtake
TROILUS SIGNS MEMORANDUM OF UNDERSTANDING WITH BOLIDEN FOR LONG‑TERM
COPPER‑GOLD CONCENTRATE OFFTAKE
March 17, 2026 – Montréal, Québec – Troilus Mining Corp. (formerly Troilus Gold Corp.) (“Troilus” or
the “Company”; TSX: TLG, OTCQX: CHXMF; FSE: CM5) is pleased to announce that it has signed a
Memorandum of Understanding (“MoU” or the “Agreement”) with Boliden Commercial AB (“Boliden”),
a leading European base and precious metals mining and processing company, for the long-term offtake
of copper-gold concentrate from the Company’s Troilus Project (the “Project”) in north-central Québec,
Canada.
The MoU advances the indicative commercial offtake terms previously announced on July 10, 2025 to a
more formal stage and establish es a framework for future concentrate deliveries. Boliden operates
seven mines and five smelters across Sweden, Finland, Norway, Ireland and Portugal , and is recognized
globally for its responsible processing of concentrates.
This Agreement follows the M emorandum of Agre ement (“MoA”) signed with Aurubis AG in August
2025 and further strengthens Troilus’ commercial strategy as the Company progresses Project financing
and advances towards construction. Together, these arrangements secure long -term relationships with
two of Europe’s most established smelting groups and reinforce Troilus’ position within evolving critical
mineral supply chains.
Justin Reid, CEO of Troilus, commented, “Boliden is a highly respected partner with deep expertise in
responsibly processing copper concentrates. Advancing our relationship to this stage reflects growing
commercial confidence in the quality, scale and strategic importance of our Project, and reinforces
Québec’s position as a stable, clean-energy jurisdiction for responsible mineral development. Alongside
our agreement with Aurubis, this MoU further underpins our concentrate marketing strategy and aligns
with the structures project financing process currently underway.”
The agreements with Boliden and with Aurubis establish commercial terms for significant portions of the
Project’s anticipated concentrate production and form a key component of Troilus’ broader financing
strategy. These commercial milestones are advancing in parallel with the Company’s senior project debt
facility of up to US$1 billion, supported by a syndicate of international financial institutions and export
credit agencies (see press release dated, November 19, 2025).
As outlined in the Company’s May 2024 Feasibility Study, the Troilus Project is expected to produce an
annual average of approximately 135.4 million pounds of copper equivalent, or 75,000 wet metric
tonnes (“WMT”) of concentrate, containing payable copper, gold, and silver.
Ocean Partners USA Inc. continues to act as Troilus’s independent third-party advisor on its concentrate
offtake strategy, providing technical, commercial, and market expertise. Auramet International Inc.
continues to act as project finance advisor, supporting Troilus in structuring and executing a
comprehensive financing solution to advance the project toward construction.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved Kyle Frank,
P.G e o . , Vice President, Corporate Development, who is a Qualified Person as defined by NI 43-101. M r.
Frank is an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Mining Corp.
Troilus Mining Corp. is a Canadian development-stage mining company focused on the responsible
advancement of the former gold and copper Troilus Mine towards near-term 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) 276-0050
Cautionary Note Regarding Forward-Looking Statements and Information
This press release contains forward-looking statements and forward-looking information (collectively,
“forward-looking statements”) within the meaning of applicable securities laws. Such forward-looking
statements include, without limitation, statements regarding the impact of the potential offtake on the
Company and the likelihood that the Company will be able to negotiate a definitive offtake agreement on
the terms and timeline indicated or at all, the likelihood that binding funding commitments will follow on
the timeline projected or at all, the likelihood that ECAs will provide financing and guarantees, advancing
towards a fully funded construction package, the expected capacity of the Troilus Gold-Copper Project
development plans to advance the Troilus project towards construction, the impact of due diligence on
structuring a definitive project debt package, the likelihood of structuring a definitive project debt
package with financial close on stated timeline or at all, structuring, identifying, and engaging potential
financing participants, development plans, opportunity to expand the scale of the project, the project
becoming a cornerstone mining project in Noth America; the development potential and timetable of the
project. . Although the Company believes that such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct. Forward-looking statements are
typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future events. The Company cautions investors
that any forward-looking statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those in forward-looking statements as a
result of various factors and risks, including, uncertainties with respect to obtaining all regulatory
approvals to complete the name change, uncertainties of the global economy, market fluctuations, the
Company’s inability to (i) obtain any necessary permits, consents or authorizations required for its
activities, (ii) to produce minerals from its properties successfully or profitably, (iii) to continue its
projected growth, and (iv) to raise the necessary capital or to be fully able to implement its business
strategies and other risks identified in its disclosure documents filed at www.sedarplus.ca. This press
release is not, and is not to be construed in any way as, an offer or recommendation to buy or sell
securities in Canada or in the United States.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and actual
events, results and/or developments may differ materially from those in the forward-looking statements.
Readers should not place undue reliance on the Company's forward-looking statements. The Company
does not undertake to update any forward-looking statement that may be made from time to time by the
Company or on its behalf, except in accordance with and as required by applicable securities laws.