Troy Energy Corp. Announces Shares Issued IN Settlement of Debt

Lazo, B.C., Canada May 29, 2019

NEX Symbol: TEG.H

NEWS RELEASE

TROY ENERGY CORP. ANNOUNCES

SHARES ISSUED IN SETTLEMENT OF DEBT

Troy Energy Corp. (the "Corporation" or "Troy") announces that it has issued 3,550,000 common shares

to three creditors to convert outstanding payables into common shares of the Corporation . The creditors

have received an aggregate of 3,550,000 common shares at a deemed price of $ 0.05 per share in

settlement of $177,500 of indebtedness . For further details, see the Corporation's press release dated

April 25, 2019. In accordance with applicable securities laws, the common shares issued under these

agreements are subject to four-month hold periods that will expire on September 30, 2019.

The Corporation's main exploration property consists of three mining leases and seven mineral claims

situated in the Yellowknife Gold Belt, located 90 km north of Yellowknife. The property saw drilling

during the late 1980 's and again during the perio d 2005 to 2008 . A total of 117 holes totaling more than

13,000 metres of diamond drilling have been reported on the leases within which the Main zone is

situated. Highlights of the drilling on the Main zone include intercepts of 12.34 g/t gold of 8.25 metres.

At the Max zone, located south of the Main zone a single hole collared in bedrock that assayed 16.87 g/t

gold over 1.5 metres from surface with further gold intercepts down the hole, including: 1.50 metres

assaying 9.29 g/t gold.

With the participation of insiders in the shares for debt transaction, th is transaction constitutes a related

party transaction under Multilateral Instrument 61 -101 – "Protection of Minority Security Holders in

Special Trans actions". Exemptions are available from the minority shareholder approval and valuation

requirements set forth in the foregoing Multilateral Instrument.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certa in information contained herein

constitutes forward -looking statements. Forward -looking statements are based on the opinions and

estimates of management at the date the statements are made, and are subject to a variety of risks and

uncertainties and other factors that could cause actual events or results to differ materially from those

projected in the forward -looking statements. The Corporation undertakes no obligation to update

forward-looking statements if circumstances or management 's estimates or opi nions should change. The

reader is cautioned not to place undue reliance on forward-looking statements.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Richard Wingate

President and Chief Executive Officer,

Phone: (306) 229-5029

James Owen, Troy Energy Corp.

Chief Financial Officer

Phone: (250) 465-1806

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the

release.