April 30, 2025

Troilus Gold – Building The Capital Stack, Permitting Progress, Political Tailwinds, And Increased Grade Over Broad Intercepts At The SouthWest Zone

19 minutes

Justin Reid, President and CEO of Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), joins me for a comprehensive update on a key project financing milestone building up the capital stack, additions to personnel with ongoing derisking initiatives, detailed engineering underway, permitting progress, political tailwinds, and more drilling success at the Gold-Copper Troilus Project located in northcentral Quebec, Canada.

Troilus announced on March 13th, that they have secured a US$700MM ( CDN$1BB) project financing syndicate underwritten by Societe Generale ( Paris), KfW Ipex-bank ( Frankfurt) and Export Development Canada. These lead arrangers will act as the agent via direct lending to the ECA’s for which we have an LOI ( Finnvera, EKN, Euler Hermes and EIFO).”

We review the expanded 80-person Troilus team at present working full steam ahead, including the addition of 4 new members of the management team, and complimented by 50 employees of a 3rd-party contractor that are working on the detailed engineering studies. Justin paints the picture of how significant the Troilus Project will be for jobs in Quebec, with ~1400 jobs over the 2-year construction process, and then 680 jobs over the 22-year life of mine.

This leads into a discussion on the recent bipartisan consensus on the need to streamline permitting and enable the timely advancement of strategic projects that support Canada’s energy transition, economic growth, and global competitiveness. Notably, the Copper-Gold Troilus Project was recently identified as one of ten key natural resource developments of interest in a CPC proposal to simplify and accelerate permitting and development. This recognition follows similar indications of support for a more efficient regulatory framework from the LPC who has publicly endorsed a “one project, one review” permitting system.

Wrapping up we touched up on the importance of the recent high-grade infill drill results that were just released from the SouthWest Zone, in terms of gaining higher confidence ounces in the resource and for the higher-grade near-surface intercepts having a positive impact on the early years in the mining sequence.

Southwest Drill Intercept Highlights:

Hole SW-25-688 intersected 2.44 g/t gold equivalent (“AuEq”) (2.03 g/t Au, 2.55 g/t Ag, 0.23 % Cu) over 56 meters (m), including 3.28 g/t AuEq (2.74 g/t Au, 3.38 g/t Ag, 0.29 % Cu) over 34 m. This is the best drill intercept in the history of the Southwest in terms of linear grade.

Hole SW-25-679 intersected 1.22 g/t AuEq (1.13 g/t Au, 0.81 g/t Ag, 0.04 % Cu) over 51 m including 15.39 g/t AuEq (15.25 g/t Au, 0.60 g/t Ag, 0.08 % Cu) over 1 m, and 8.18 g/t AuEq (7.33 g/t Au, 8.50 g/t Ag, 0.44 % Cu) over 1 m starting at 9 metres downhole.

If you have any questions for Justin regarding Troilus Gold, then please email them over to me at [email protected].

In full disclosure, Shad is a shareholder of Troilus Gold at the time of this recording, and may choose to buy or sell shares at any time.

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