Troilus Announces Completion of Unbrokered Private Placement, Canadian Business Journal

Not intended for distribution to US Newswire services or for distribution within the US

MONTREAL, Oct. 3, 2022 (GLOBE NEWSWIRE) — Troilus Gold Corp. (“Troilus” or “we”; TSX: TLG; OTCQX: CHXMF) announces that it has completed a no-broker private placement . He invested 10,525,000 shares of Troilus common stock at $0.49 Canadian per share, and his gross proceeds into Troilus are $5,157,250.

The Company intends to use the net proceeds of this placement for working capital and general corporate purposes.

About Troilus Gold Corporation

Troilus Gold Corp. is a Canada-based junior mining company focused on systematic advances and risk mitigation towards the production of the former gold and copper Troilus mines. From 1996 to 2010, the Troilus mine produced over 2 million ounces of his gold and nearly 70,000 tons of copper for him. Troilus holds his 1,420 km² of strategic land in the Frotêt-Evans Greenstone Belt, located in the premier mining jurisdiction of Quebec, Canada. Since acquiring the project in 2017, ongoing exploration successes have demonstrated the tremendous scale potential of the gold system in an asset with significant mineral resource growth. After completing a robust PEA, the engineering studies are underway and the Troilus project has the potential to become one of Canada’s top-ranked gold and copper production assets. Led by an experienced team with a track record of successful mine development, Troilus is positioned to be a cornerstone project in North America.

For more information:

Justin Reed
Troilus Gold Corporation CEO
+1 (647) 276-0050 x 1305
[email protected]

Caroline Arceneaux
Vice President of Corporate Communications
+1 (647) 407-7123
[email protected]

Common stock issued in connection with the private placement has not and will not be registered under the US Securities Act of 1933, as amended.U.S. Securities Law), or offered or sold in the United States or to any United States person or for the account or benefit of any United States person, unless there is an applicable exemption from any United States state securities law or from the registration requirements of any United States securities law. You can not. and applicable US state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor may such securities be sold in any jurisdiction in which such offer, solicitation or sale would be unlawful. never done.

Cautionary Note Regarding Forward-Looking Statements and Information

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding the use of proceeds. Generally, forward-looking statements are forward-looking statements such as “planned,” “anticipate,” “anticipate,” “anticipate,” “budget,” “scheduled,” “estimate,” or the like. Identifiable by the use of terminology. “anticipate”, “intend”, “continue”, “anticipate”, “unexpected” or “believe” or that a particular action, event or outcome “could” or “could” Any variation of the word or phrase or statement “will”, “will”, “may” or “will be taken”, “will occur” or “will be achieved”. Forward-looking statements are made based on certain assumptions and other material facts and, if not true, Troilus’ actual results, performance or achievements may not be expressed or implied by such statements. Future results, performance or achievements may differ materially. Such statements and information are based on a number of assumptions regarding current and future business strategies and the environment in which his Troilus will operate in the future. Certain important factors that could cause actual results, performance or achievements to differ materially from the forward-looking statements include, among others, currency fluctuations, global economic conditions, dilution, stock price volatility and competition. It is included. Forward-looking statements involve known and unknown risks, uncertainties and may cause Troilus’ actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. subject to other important factors that may but not limited to: Company’s discretion as to how earnings are used; There is no guarantee that exploration programs will result in expansion of mineral resources. Risks and uncertainties inherent in estimating mineral resources. The impact of the COVID 19 pandemic on your company’s operations (including but not limited to employees and suppliers) and the economy in general. Impact of post-COVID 19 pandemic recovery and impact on gold and other metals. receipt of required approvals; general business, economic, competitive, political and social uncertainties; future prices of minerals; accidents, labor disputes, shortages; Environmental and Other Risks of Mining. This includes, but is not limited to, the risks and uncertainties described in our most recent technical reports and other company continuous disclosure documents available under our company profile on www.sedar.com. is not limited to Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, but it is not possible that they could cause results to differ from those anticipated, estimated or intended. There may be other factors that make There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements except in accordance with applicable securities laws.

qualified person

The technical and scientific information in this press release has been reviewed and approved by Exploration Manager Kyle Frank (P.Geo.), a qualified person as defined in NI 43-101. Mr. Frank is an employee of Troilus and is not independent of the Company under NI 43-101.

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