Troilus Provides a Recap of 2023 Accomplishments & an Outlook for 2024 - Seite 2

SUCCESSFUL EXPLORATION PROGRAM

2023 reflected the focused and dedicated efforts of the exploration team, particularly with the success of the drilling program at Zone X22 which has become synonymous with some of the highest, thickest, and most continuous grades at Troilus.

• ~22,000 metres were drilled at X22, expanding the zone's mineral footprint from 300m to approximately 1km, and confirming a consistent pattern of continuous high-grade near-surface structures along this strike length.

• X22 returned among the highest results in Troilus’ history, including 1.80 g/t AuEq over 80m (X22-23-071), 19.9 g/t AuEq over 7m (X22-23-030), 103.8 g/t AuEq over 1m (X22-23-042) and 14.7 g/t AuEq over 7m (X22-23-067).

• X22 represents a small portion of our total drilling at Troilus, however this zone significantly contributed to our resource growth, and the proximity of this zone to the main mineral corridor made evident the potential impact it could have on the economic modeling of our project in the upcoming Feasibility Study.

UPDATED MINERAL RESOURCE ESTIMATE SHOWED GROWTH & SCALE

In October, we delivered an updated mineral resource estimate of 11.21 Moz AuEq (508.3Mt with an average grade of 0.69 g/t AuEq*) in the Indicated category and 1.80 Moz AuEq (80.5Mt with an average grade of 0.69 g/t AuEq*), marking an impressive 447% increase in Indicated AuEq ounces since our inception. This updated MRE firmly established Troilus among the largest undeveloped gold-copper deposits in North America. Furthermore, nearly all ounces in the MRE are categorized as 'open pit', and we saw nearly 100% conversion from Inferred to Indicated resources from the previous MRE, setting an excellent foundation for our upcoming Feasibility Study, expected this quarter.

Additional detail related to our 2023 MRE can be found HERE.

PERMITTING ADVANCEMENTS & PRIORITIY ON SUSTAINABLE DEVELOPMENT

In 2023, we reinforced our commitment to responsible project development by implementing a Sustainable Development Policy, which establishes a structured framework that aligns our operation with the highest environmental, social, and ethical standards. This new policy aims to foster prosperity among our employees and their families, support local communities, and encourage collaboration with local service providers. Beyond compliance, our efforts always aim to positively impact all our stakeholders.