Troy Minerals Targets Restart of Drilling at Tsagaan Zalaa

VANCOUVER, BC / ACCESSWIRE / November 5, 2024 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce a significant milestone in its ongoing development of the Tsagaan Zalaa Silica Project in Mongolia. With the next phase of drilling now underway, the Company aims to complete the minimum 1,000 meters cumulative drill program, the required threshold for its mining license submission. It should be noted that the silica mineralization at Tsagaan Zalaa is either outcropping or sub-outcropping, resulting is relatively shallow drilling campaigns. The Company expects to complete drilling before year-end, setting the stage for Troy's mining license submission.

Located strategically near the Mongolian-Chinese border, the Tsagaan Zalaa Silica Project continues to present robust opportunities for growth in the silica sector, driven by rising demand from green technology and other high-tech industries. The Company remains focused on delivering the necessary operational milestones, aligning with its commitment to achieving first production in the coming year.

"This additional drilling is a critical step in advancing Tsagaan Zalaa to the production stage," said Rana Vig, President and CEO of Troy Minerals. "By meeting the requirements for our mining license, we will continue progressing towards our goal of production in 2025, ultimately generating substantial value for our stakeholders and contributing to the global supply of high-purity silica for green technologies."

Project Development Milestones:

• Drilling Completion: The completion of the 1,000 meters drill program is expected to be reached by the end of 2024, with this phase concluding the final project technical geological studies essential for license submission.

• Environmental Studies Completed: Project environmental field studies, inclusive of archaeological and paleontological studies have successfully been completed in October 2024. Thus, final environmental reports are in progress.

• Mining License Application: Completion of this targeted drilling in association with already completed trenching, sampling and geological mapping, will facilitate the mining license application, anticipated to be submitted promptly, allowing Troy to transition into the production stage within 2025.

• Strategic Project Positioning: The Tsagaan Zalaa project's proximity to a Japanese-operated silica mine underscores its favorable location to supply Asia's burgeoning high-purity silica market.