Troilus Completes Acquisition of UrbanGold Minerals - Seite 2

Mathieu Stephens, former President and CEO of UrbanGold, stated: “The amalgamation of UrbanGold with Troilus will be of significant benefit to shareholders of both companies as it will streamline operations in an emerging gold and copper camp, where Troilus already owns key infrastructure. With this acquisition, the entity combines prospective ground and technical expertise with global capital markets reach and a track record to creating shareholder value, all key elements to continue developing a successful outcome in the region.”

Full details of the Amalgamation and certain other matters are set out in the management information circular of UrbanGold dated April 9, 2021 (the "Information Circular"). A copy of the Information Circular and the early warning report filed by Troilus in connection with the acquisition of the UrbanGold Shares can be found under UrbanGold’s profile on SEDAR at www.sedar.com or by contacting Troilus at the number shown below. The purpose of the Amalgamation was to acquire all of the issued and outstanding UrbanGold Shares.

UrbanGold shareholders who have questions or who may need assistance with the completion of letters of transmittal are advised to contact TSX Trust Company, the depository for the Amalgamation, at: North American Toll Free: 1-866-600-5869 or Email:[e-mail].

About Troilus Gold Corp.

Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km² in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.