Troy Minerals Announces Private Placement

Not for distribution in the U.S. or to U.S. Newswire services.

VANCOUVER, BC / ACCESSWIRE / December 19, 2023 / Troy Minerals Inc. ("Troy"or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) announces a private placement financing of up to 800,000 flow-through units ("FT Units") at a price of $1.25 per FT Unit for gross proceeds of up to $1,000,000 (the "Offering").

Each FT Unit will be comprised of one common share of the Company which qualifies as a "flow-through" share as defined in subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec) and one-half of one non-transferable share purchase warrant of the Company. Each whole warrant is exercisable into one non-flow-through common share of the Company at an exercise price of $2.50 per share for period of two years from the date of issuance.

Proceeds of the Offering will be used towards advancing the Company's mineral projects in Quebec.

Securities issued in connection with the Offering will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. The Offering is subject to CSE acceptance.

ON BEHALFOF THE BOARD,

Rana Vig | Presidentand Director
Telephone: [phone]
[e-mail]

About Troy Minerals Inc.

Troy Minerals is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. The Company currently holds interest in four assets;

The Lake Owen project (formerly SW2) is a highly perspective Vanadium, Titanium and Iron ore rich project that consists of 91 mineral claims located approximately 50km southwest of Laramie, Wyoming USA. The property is a one billion tonne plus target in a Proterozoic Layered Mafic Intrusive host with strong magnetite-rich cumulates and accompanying V/Ti and Pt/Pd/Au/Rh-bearing sulfide horizons.

The Lac Jaques project is a drive to project with close infrastructure located approximately 250km north of Montreal Quebec, Canada and is comprised of 17 claims totaling 994 ha. The Property hosts high grade REE mineralization at the surface in a structurally controlled and steeply dipping carbonatite dike up to 25 meters thick with multi-kilometer potential.

The Green Gold project, in which the Company has the right to acquire 100% interest, is comprised of fourteen (14) mineral claims with an aggregate area of 11,238 hectares, is located in central British Columbia in the Cariboo Mining Division, approximately 34 kilometers (km) southwest of the city of Prince George.