Troubadour Resource Commences Preparations for Phase One Fieldwork at the Senneville Copper VMS Property
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
www.troubadourresources.com
Troubadour Resource Commences Preparations for Phase One Fieldwork at the Senneville
Copper VMS Property
Vancouver, British Columbia / August 2, 2024– Troubadour Resources Inc. (“TR” or the “Company”)
(TSXV: TR) (OTCQB: TROUF), a North American mineral acquisition and exploration company, is
pleased to announce that it has begun preparations to complete a biogeochemical survey at its S enneville
Copper VMS property (“Senneville” or the “Property”).
The Property is prospective for polymetallic VMS-style mineralization and comprises 173 mineral claims
located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining center
of Val-d’Or, Quebec. It covers over 100 km 2 and is contiguous in the South to Probe Metals’ Novador
Project, host to the 2.04 Moz Monique Resource grading 1.42 g/t Au, and in the north to Monarch Mining’s
Beaufor Mine, which has produced over 1.1 Moz Au. *Readers are cautioned that the geology of nearby
properties are not necessarily indicative of the geology of the Project.
“We are excited to apply modern and novel exploration techniques to the S enneville Property” stated
Troubadour Resources CEO, Chris Huggins. “The Senneville Property is exceptionally well-positioned for
the Val D’Or’s next major discovery, and our planned exploration program will apply techniques that have
proven their applicability but have not previously been applied to this ground. This work will help us
finalize drill targets, prior to our fully funded maiden drill program, for which planning has already begun.”
Figure 1 - Local area map of the Senneville Project. Geology after SIGEOM.
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
www.troubadourresources.com
Figure 2 – Project map displaying the VMS trend that will be the focus of drilling at the Senneville Project.
In particular, t he Company intends to carry out a biogeochemical survey to identify additional priority
targets prospective for high-grade gold and copper mineralization that will be included in the Company’s
maiden drill program to commence this coming fall.
Biogeochemical surveys are exploration techniques that excel at testing for buried mineralization not
exposed at the surface by sampling and analyzing whole or selected parts of plants. As plants grow, metals
and ions dissolved in the soil and groundwater are incorporated by the plant s and migrate to the various
parts (roots, truck, stem, bark, leaves), and thus, the plants attain a chemistry reflective of the underlying
bedrock. By sampling these biological materials along a systematic grid, Troubadour plans to identify areas
most rich in metals or elements that indicate the most likely areas to host gold or copper mineralization.
Biogeochemical surveys have proven to be an effective method in identifying metal anomalies associated
with gold and copper mineralization (Wallbridge Resources, Gaillard, 2021; Midland Exploration, St-Cyr,
2021; Probe Gold News Release June 29, 2024). The details of the sampling for the Company’s planned
program (tree species, sampled material, etc.) are yet to be finalized. Sampling will be followed by ground-
based geophysics to refine target horizons within the mineralized trend.
The Company is also pleased to announce that it has completed the second payment due under its option
(the “Option”) to earn 100% of the Property and has now issued an aggregate of 5,000,000 common shares
in the capital of the Company pursuant to the Option. Pursuant to the Option, the Company may now acquire
a 100% interest in the Property by completing $2,000,000 in work expenditures at the Property prior to the
second anniversary of the execution of the Option. The complete terms to acquire 100% of the Property are
indicated in the table below:
Payment Date Shares(2) Work Commitment
Signing(1) 2,500,000 (complete) -
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
www.troubadourresources.com
6 months 2,500,000 (complete)
24 months - $2,000,000
Notes: 1. Payable within five (5) days from receipt of approval to the Option from the Exchange.
2. Shares of the Company are to be issued at a deemed value based on the Discounted Market
Price (defined in Exchange rules) at the time of issuance.
The Property has the following net -smelter returns royalties (“ NSRs”) which will be assumed by the
Company:
• 2% NSR to North American Exploration Ltd. for 72 claims
• 2% NSR to Silverwater Capital Corp. for 62 claims
• 2% NSR to Terrance Coyle / 9093-6725 Quebec Inc. for 39 claims
The Company is also pleased to announce that it has engaged Red Cloud Securities Inc. ("Red Cloud") for
market making services (the “Red Cloud Engagement”), Independent Trading Group (ITG), Inc. ("ITG"),
for market making services (the “ ITG Engagement ”), Venture Liquidity Providers Inc. (“VLP”) for
market making services (the “VLP Engagement”), and RMK Marketing Inc. (" RMK") for marketing
services (the “RMK Engagement”; together with the Red Cloud Engagement , the ITG Engagement and
the VLP Engagement, the “Engagements”). The Engagements remain subject to the approval of the TSX
Venture Exchange (the “TSXV”) and services will commence upon the TSXV’s approval.
Pursuant to the Red Cloud Engagement, Red Cloud will provide market stabilization and liquidity services
to the Company in consideration of a monthly fee of $5,000. The engagement will be ongoing and can be
terminated by either party on 30 days' prior written notice. Red Cloud and/or its clients may hold interests
in Troubadour's securities. Red Cloud will commit its own funds to the purchase of Troubadour's securities
to maintain market stability, and Red Cloud will not receive any shares or options as compensation pursuant
to the Red Cloud Engagement. Red Cloud and the Company are unrelated and unaffiliated entities.
Pursuant to the ITG Engagement, ITG will provide market -making services to the Company in
consideration of a monthly fee of $5,000. The engagement will be ongoing and can be terminated by either
party on 30 days' prior written notice. ITG and/or its clients may hold interests in Troubadour's securities.
ITG will commit its own funds to the purchase of Troubadour's securities to maintain market stability and
ITG will not receive any shares or options as compensation pursuant to the ITG Engagement. ITG and the
Company are unrelated and unaffiliated entities.
Pursuant to the VLP Engagement, market-making services will be undertaken by VLP through a registered
broker, W.D. Latimer Co. Ltd. (“W.D. Latimer”), in compliance with the applicable policies of the TSXV.
For its services, the Company has agreed to pay VLP $5,000 per month for a period of 12 months. The
agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's
length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The funds
and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the
Company to VLP is for services only.
Pursuant to the RMK Engagement, RMK will provide a comprehensive suite of online marketing and
investor relation services to the Company, including advertorial creation, campaign management, keyword
research and ongoing bid optimization to enhance the Company's online presence and investor engagement.
In consideration for the services, the Company will pay RMK a fee of $250,000, with an option to increase
the budget to $500,000 as needed. RMK does not hold any of the Company's securities to its knowledge.
RMK and the Company are unrelated and unaffiliated entities.
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
www.troubadourresources.com
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Deepak Varshney,
P.Geo., a qualified person as defined by National Instrument 43 -101. Historical reports provided by the
optionors were reviewed by the qualified person. The information provided has not been verified and is
being treated as historic non-compliant intercepts.
About Troubadour Resources Inc.
Troubadour Resources Inc. is a North American mineral acquisition and exploration company focused on
the development of quality critical mineral and precious metal properties that are drill -ready, with high-
upside and growth potential. Based in Vancouver, BC, Troubadour trades on the TSX Venture Exchange
under the symbol TR and the OTCPK Exchange under the symbol TROUF.
TROUBADOUR RESOURCES INC.
“Chris Huggins”
CEO and Director
For more information, please call Chris Huggins at (604) 968-4844 or email [email protected] .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
References
Gaillard, N. (2021) Assessment Report, Grasset Property, Biogeochemistry, Summer 2021; Wallbridge
Mining, GM72469, 86pp.
St-Cyr, R. (2021) Black Spruce Bark Campaign Report – Adam Project; Midland Exploration, GM72086,
166 pp.
Probe Gold (2024) Probe Metals And Midland Exploration Commence Drilling To Test New High Priority
Targets South Of Fenelon On The Detour Gaudet -Fenelon JV Project; Retrieved from
<https://probegold.com/news/probe-metals-and-midland-exploration-commence-drilling-to-test-new-
high-priority-targets-south-of-fenelon-on-the-detour-gaudet-fenelon-jv-project/ > on July, 29, 2024
Forward-looking statements:
This news release may include "forward -looking information" under applicable Canadian securities
legislation, including statements respecting the Company’s exploration plans at Senneville, the Company’s
upcoming market-making and marketing engagements and the scope and TSXV’s approval thereof . Such
forward-looking information reflects management's current beliefs and are based on a number of estimates
and/or assumptions made by and information currently available to the Company that, while considered
reasonable, are subject to known and unknow n risks, uncertainties, and other factors that may cause the
actual results and future events to differ materially from those expressed or implied by such forward -
looking information. Readers are cautioned that such forward -looking information are neither promises
nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited
to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity
and capital markets, lack of available capital, actual results of exploration activities, environmental risks,
future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining
governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature,
involves many risks, requires substantial expenditures, and may not result in the discovery of mineral
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
www.troubadourresources.com
deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its
properties. As a result, there can be no assurance that such forward -looking statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements.