Troilus Initiates ESIA Submission, Marking Significant Progress Toward Final Permitting

Press Release

January 29, 2025, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) (“Troilus” or the “Company”), is pleased to announce that it has begun the submission process for its Environmental and Social Impact Assessment (“ESIA”) for the copper-gold Troilus Project, located in north-central Quebec, Canada. This marks a critical milestone in the Company’s permitting process as it progresses one of Canada’s largest undeveloped gold-copper deposits toward construction.

Under an updated, more collaborative approach outlined by the Impact Assessment Agency of Canada and the Cree Nation Government, Troilus has been able to submit sections of its ESIA for review as they are completed, rather than waiting for the entire report to be finalized. This iterative process has already facilitated constructive engagement, with initial feedback and comments from the Agency being incorporated into the Company’s final submission. By addressing questions and resolving issues early in the process, this approach is expected to streamline the final permitting process and reduce back-and-forth once the complete ESIA is formally submitted.

A Multi-Year Commitment to Stakeholder Engagement and Environmental Responsibility

The ESIA represents the culmination of more than five years of work by Troilus, including extensive field studies and collaboration with stakeholders and local Indigenous communities. Highlights of these efforts include:

• Public and private consultations with local communities, including the Cree Nation, to ensure alignment with regional priorities and cultural values.

• Environmental baseline studies conducted to evaluate and mitigate potential impacts on local ecosystems.

• Comprehensive social and economic studies to address the long-term benefits of the project for the region.

The preparation of the ESIA has been conducted in partnership with leading environmental and engineering firms, BluMetric  and Stantec, ensuring the report adheres to the highest environmental, social, and technical standards.

Justin Reid, CEO of Troilus, commented, “The initiation of the ESIA submission process is a significant step forward for Troilus as we advance our project toward final permitting and development. The new iterative framework has allowed us to engage directly with regulators and stakeholders, resolving issues early and incorporating their feedback into the final report. This approach not only demonstrates our commitment to transparency and collaboration but also ensures that the final document is as robust and comprehensive as possible. We believe this collaborative approach will help streamline the permitting process and position Troilus for the successful and sustainable advancement of the Project.”

As part of its continued commitment to responsible resource development, Troilus will maintain open communication with local communities and regulatory authorities throughout the ESIA process. The final ESIA submission is expected to be completed in Q2 2025.

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
info@troilusgold.com

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