Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX:
CHXMF) reports additional assay results from the Southwest Zone at
its Troilus Project, located in northcentral Quebec, Canada. The
Southwest Zone is located ~2.5 kilometres from the formerly mined
open pits. It was initially discovered and drilled in late 2019 and
has quickly evolved into the most significant growth target on its
property. The intercepts reported today are largely located outside
of the pit shell modelled in the Preliminary Economic Assessment
(see press release dated August 31, 2020). The results are a
combination of infill drill holes, focused on increasing drill
density and upgrading the resource category from Inferred to
Indicated, as well as exploration drill holes, which have confirmed
mineral continuity to the southwest, identifying a down-dip
extension of mineralization to the west, 300 metres below PEA pit
shell. The location of the drill hole collars and traces are
presented in figures 1 and 2, while results can be found in Table
1.
All the results reported today will be included
in the mineral resource update and Pre-Feasibility Study, expected
in mid-2022. As announced on April 21, 2022, Troilus reached the
cut-off for drilling to be included in these studies in March in
light of its targeted timeline.
Southwest Zone Intercept
Highlights:
Hole SW-616
- 2.11 g/t AuEq over 10m, including
3.60 g/t AuEq over 2m
- 4.24 g/t AuEq over 3m
- Infill drill hole located within
the pit, focused on upgrading Inferred blocks to Indicated blocks
for the upcoming PFS
Hole SW-527
- 2.42 g/t AuEq over 6m, including
12.56 g/t AuEq over 1m
- 1.72 g/t AuEq over 4m, including
30.66 g/t AuEq over 1m
- All intercepts located outside of
the PEA pit shell
Hole SW-558
- 13.64 g/t AuEq over 3m, including
29.81 g/t AuEq over 1m
- All intercepts located outside of
the PEA pit shell; high-grade gold intersected 300m below the PEA
pit shell to the southwest
Hole SW-531
- 1.28 g/t AuEq over 14m, including
2.75 g/t AuEq over 2m
- Hole located entirely outside of
the PEA pit shell; confirms mineral continuity to the
southwest
Hole SW-555
- 1.65 g/t AuEq over 5m, including
6.12 g/t AuEq over 1m
- Located outside of the PEA pit
shell; confirming mineral continuity to the southwest
Justin Reid, CEO of
Troilus Gold, commented, “We’re continuing to see impressive
results coming out of the Southwest Zone, which is encouraging
given that this zone is expected to be the focus in the early years
of production. Over the last 8 months, our primary focus has been
to further define and upgrade the resource of the Southwest Zone
for the ongoing Pre-Feasibility Study, set to be delivered
mid-year. Already we’ve been able to more than double the footprint
of the Southwest Zone, with high potential for further growth
remaining. Since its discovery in late 2019, the Southwest Zone has
become an extremely valuable component of the Troilus deposit - as
we begin drilling our 11,000m Gap Zone program, we’re eager to
uncover the potential of yet another piece of the Troilus
system.”
Figure 1: Plan View Map of the Southwest
Zone Showing Current and Previously Reported
Drillinghttps://www.globenewswire.com/NewsRoom/AttachmentNg/515f45ed-1ac3-4b52-9362-7055df384105
Figure 2: Longitudinal Section Facing
North-West Showing Intervals Above 0.3 g/t AuEq on Currently
Reported Drill
Holeshttps://www.globenewswire.com/NewsRoom/AttachmentNg/cc685136-48bd-4e12-9ffc-60ceaa4bfe4f
Table 1: Southwest Zone Drill
Results
Hole |
From(m) |
To (m) |
Interval(m) |
Inside/Outsideof PEA Pit Shell |
AuGrade(g/t) |
CuGrade(%) |
Ag Grade(g/t) |
AuEqGrade(g/t) |
SW-501 |
|
63 |
66 |
3 |
Inside |
1.52 |
0.01 |
0.25 |
1.53 |
incl… |
63 |
64 |
1 |
Inside |
4.08 |
0.01 |
0.25 |
4.10 |
|
82 |
83 |
1 |
Inside |
1.43 |
0.01 |
0.25 |
1.45 |
|
104 |
105 |
1 |
Inside |
2.82 |
0.00 |
2.10 |
2.85 |
|
208 |
214 |
6 |
Outside |
0.89 |
0.19 |
2.04 |
1.15 |
incl… |
213 |
214 |
1 |
Outside |
2.88 |
0.20 |
2.00 |
3.16 |
|
228 |
229 |
1 |
Outside |
1.74 |
0.00 |
0.25 |
1.74 |
|
320 |
324 |
4 |
Outside |
0.78 |
0.02 |
1.28 |
0.82 |
incl… |
323 |
324 |
1 |
Outside |
2.03 |
0.04 |
3.30 |
2.11 |
|
349 |
360 |
11 |
Outside |
1.88 |
0.36 |
142.76 |
3.85 |
incl… |
350.3 |
351.4 |
1.1 |
Outside |
13.65 |
2.53 |
1170.00 |
29.28 |
|
387 |
389 |
2 |
Outside |
1.12 |
0.04 |
3.00 |
1.20 |
SW-503 |
|
11 |
14 |
3 |
Inside |
1.02 |
0.01 |
0.48 |
1.03 |
|
51 |
52 |
1 |
Inside |
4.56 |
0.04 |
1.60 |
4.63 |
|
72 |
73 |
1 |
Outside |
1.06 |
0.01 |
0.25 |
1.07 |
|
74 |
75 |
1 |
Outside |
1.13 |
0.01 |
0.25 |
1.14 |
SW-504 |
|
20 |
22 |
2 |
Inside |
0.89 |
0.02 |
0.25 |
0.91 |
|
27 |
28 |
1 |
Inside |
0.85 |
0.12 |
3.20 |
1.04 |
|
45 |
52 |
7 |
Inside |
1.08 |
0.02 |
0.52 |
1.12 |
|
86 |
90 |
4 |
Inside |
1.08 |
0.12 |
0.85 |
1.24 |
incl… |
87 |
88 |
1 |
Inside |
1.62 |
0.17 |
1.60 |
1.85 |
incl… |
89 |
90 |
1 |
Inside |
2.25 |
0.02 |
0.25 |
2.28 |
|
135 |
136 |
1 |
Outside |
0.80 |
0.35 |
4.30 |
1.30 |
|
192 |
193 |
1 |
Outside |
1.11 |
0.16 |
3.00 |
1.34 |
SW-513 |
|
87 |
88 |
1 |
Inside |
1.28 |
0.01 |
0.60 |
1.30 |
|
125 |
126 |
1 |
Outside |
1.05 |
0.02 |
0.25 |
1.08 |
|
130 |
131 |
1 |
Outside |
2.21 |
0.01 |
0.25 |
2.22 |
|
185 |
186 |
1 |
Outside |
2.37 |
0.49 |
8.80 |
3.08 |
|
193 |
194 |
1 |
Outside |
1.53 |
0.01 |
0.25 |
1.54 |
SW-516 |
|
22 |
23 |
1 |
Inside |
1.22 |
0.02 |
0.50 |
1.25 |
|
78 |
79 |
1 |
Inside |
1.04 |
0.96 |
15.60 |
2.43 |
|
95 |
97 |
2 |
Inside |
1.25 |
0.11 |
2.30 |
1.41 |
incl... |
95 |
96 |
1 |
Inside |
2.24 |
0.03 |
1.00 |
2.29 |
|
159 |
160 |
1 |
Outside |
0.91 |
0.51 |
14.90 |
1.72 |
SW-518 |
|
64 |
67 |
3 |
Inside |
2.48 |
0.23 |
3.15 |
2.80 |
Incl... |
64 |
65 |
1 |
Inside |
7.08 |
0.55 |
8.10 |
7.86 |
|
92 |
95 |
3 |
Inside |
1.23 |
0.01 |
0.25 |
1.24 |
Incl... |
94 |
95 |
1 |
Inside |
3.33 |
0.00 |
0.25 |
3.34 |
|
153 |
156 |
3 |
Outside |
0.70 |
0.15 |
4.40 |
0.94 |
Incl... |
153 |
154 |
1 |
Outside |
1.55 |
0.23 |
6.50 |
1.91 |
SW-519 |
|
6 |
15 |
9 |
Inside |
0.84 |
0.03 |
0.30 |
0.88 |
Incl... |
6 |
9 |
3 |
Inside |
1.67 |
0.05 |
0.25 |
1.74 |
|
75 |
87 |
12 |
Inside |
0.60 |
0.05 |
0.49 |
0.66 |
Incl... |
75 |
78 |
3 |
Inside |
1.54 |
0.03 |
0.25 |
1.58 |
|
247 |
248 |
1 |
Outside |
2.24 |
0.01 |
0.25 |
2.25 |
SW-524 |
|
112 |
136 |
24 |
Outside |
0.81 |
0.01 |
1.01 |
0.84 |
Incl... |
122 |
123 |
1 |
Outside |
2.24 |
0.00 |
3.70 |
2.28 |
Incl... |
129 |
130 |
1 |
Outside |
2.25 |
0.00 |
1.30 |
2.27 |
Incl... |
133 |
134 |
1 |
Outside |
8.02 |
0.00 |
1.30 |
8.04 |
|
191 |
192 |
1 |
Outside |
1.04 |
0.00 |
0.25 |
1.04 |
|
307 |
308 |
1 |
Outside |
0.99 |
0.02 |
1.30 |
1.03 |
|
394 |
395 |
1 |
Outside |
1.83 |
0.02 |
1.10 |
1.86 |
|
450 |
456 |
6 |
Outside |
0.80 |
0.08 |
1.00 |
0.92 |
Incl... |
455 |
456 |
1 |
Outside |
2.97 |
0.10 |
1.10 |
3.11 |
|
520 |
533 |
13 |
Outside |
0.46 |
0.12 |
0.67 |
0.62 |
Incl... |
529 |
530 |
1 |
Outside |
1.83 |
0.03 |
0.25 |
1.86 |
|
555 |
556 |
1 |
Outside |
3.46 |
0.07 |
0.70 |
3.56 |
|
586 |
593 |
7 |
Outside |
0.54 |
0.18 |
2.29 |
0.78 |
Incl... |
587 |
588 |
1 |
Outside |
1.35 |
0.35 |
4.90 |
1.85 |
Incl... |
592 |
593 |
1 |
Outside |
0.94 |
0.43 |
4.70 |
1.53 |
SW-527 |
|
90 |
91 |
1 |
Outside |
1.04 |
0.01 |
0.60 |
1.06 |
|
180 |
181 |
1 |
Outside |
0.99 |
0.09 |
4.50 |
1.16 |
|
197 |
201 |
4 |
Outside |
0.01 |
1.28 |
7.80 |
1.72 |
incl… |
197 |
198 |
1 |
Outside |
30.60 |
0.01 |
3.50 |
30.66 |
|
282 |
288 |
6 |
Outside |
2.41 |
0.01 |
0.25 |
2.42 |
incl… |
283 |
284 |
1 |
Outside |
12.55 |
0.01 |
0.25 |
12.56 |
|
379 |
380 |
1 |
Outside |
1.20 |
0.03 |
0.90 |
1.24 |
|
407 |
427 |
20 |
Outside |
0.79 |
0.05 |
0.91 |
0.87 |
incl… |
410 |
411 |
1 |
Outside |
1.97 |
0.09 |
1.80 |
2.10 |
incl… |
418 |
419 |
1 |
Outside |
8.42 |
0.03 |
0.90 |
8.47 |
|
476 |
477 |
1 |
Outside |
2.13 |
0.03 |
1.10 |
2.18 |
|
488 |
489 |
1 |
Outside |
0.99 |
0.06 |
1.50 |
1.08 |
|
497 |
512 |
15 |
Outside |
0.61 |
0.11 |
1.84 |
0.78 |
incl… |
503 |
504 |
1 |
Outside |
0.60 |
0.32 |
5.20 |
1.06 |
incl… |
505 |
506 |
1 |
Outside |
5.85 |
0.10 |
5.00 |
6.03 |
|
534 |
535 |
1 |
Outside |
1.00 |
0.16 |
2.50 |
1.23 |
SW-531 |
|
174 |
175 |
1 |
Outside |
0.71 |
0.14 |
11.90 |
1.01 |
|
189 |
190 |
1 |
Outside |
1.49 |
0.01 |
0.70 |
1.51 |
|
198 |
212 |
14 |
Outside |
0.94 |
0.24 |
3.17 |
1.28 |
incl… |
209 |
211 |
2 |
Outside |
2.68 |
0.05 |
0.65 |
2.75 |
|
347 |
354 |
7 |
Outside |
0.52 |
0.16 |
3.04 |
0.76 |
incl… |
353 |
354 |
1 |
Outside |
2.69 |
0.23 |
7.70 |
3.06 |
|
477 |
478 |
1 |
Outside |
1.74 |
0.01 |
0.50 |
1.76 |
|
513 |
514 |
1 |
Outside |
1.51 |
0.09 |
6.10 |
1.69 |
|
563 |
564 |
1 |
Outside |
1.23 |
0.01 |
0.25 |
1.24 |
SW-539 |
|
78 |
83 |
5 |
Outside |
0.76 |
0.04 |
3.00 |
0.85 |
incl… |
78 |
80 |
2 |
Outside |
1.24 |
0.00 |
0.25 |
1.24 |
|
233 |
234 |
1 |
Outside |
1.20 |
0.07 |
0.25 |
1.28 |
|
251 |
254 |
3 |
Outside |
1.19 |
0.06 |
0.72 |
1.27 |
|
267 |
268 |
1 |
Outside |
2.30 |
0.00 |
0.25 |
2.31 |
|
332 |
333 |
1 |
Outside |
1.41 |
0.01 |
0.25 |
1.42 |
|
358 |
386 |
28 |
Outside |
0.73 |
0.03 |
0.95 |
0.77 |
incl… |
367 |
378 |
11 |
Outside |
1.25 |
0.04 |
1.12 |
1.32 |
|
399 |
400 |
1 |
Outside |
1.64 |
0.04 |
1.30 |
1.70 |
|
413 |
414 |
1 |
Outside |
1.05 |
0.02 |
0.25 |
1.07 |
|
443 |
444 |
1 |
Outside |
0.70 |
0.28 |
3.50 |
1.09 |
SW-540 |
|
130 |
131 |
1 |
Outside |
1.00 |
0.23 |
3.70 |
1.33 |
|
350 |
351 |
1 |
Outside |
3.15 |
0.48 |
7.40 |
3.85 |
|
448 |
450 |
2 |
Outside |
1.42 |
0.04 |
1.60 |
1.49 |
|
618 |
619 |
1 |
Outside |
7.12 |
0.00 |
0.60 |
7.13 |
SW-543 |
|
201 |
203 |
2 |
Outside |
2.29 |
0.10 |
3.30 |
2.46 |
|
234 |
242 |
8 |
Outside |
0.63 |
0.11 |
0.71 |
0.78 |
incl… |
234 |
236 |
2 |
Outside |
1.48 |
0.13 |
0.93 |
1.66 |
|
256 |
257 |
1 |
Outside |
2.96 |
0.03 |
0.70 |
3.00 |
|
275 |
277 |
2 |
Outside |
1.15 |
0.04 |
1.95 |
1.21 |
|
284 |
285 |
1 |
Outside |
0.94 |
0.36 |
2.50 |
1.43 |
|
310 |
311 |
1 |
Outside |
0.81 |
0.05 |
0.25 |
0.88 |
|
317 |
324 |
7 |
Outside |
0.68 |
0.08 |
0.92 |
0.79 |
incl… |
323 |
324 |
1 |
Outside |
2.87 |
0.23 |
2.30 |
3.19 |
|
390 |
391 |
1 |
Outside |
0.94 |
0.11 |
0.70 |
1.09 |
|
413 |
414 |
1 |
Outside |
1.70 |
0.19 |
7.40 |
2.02 |
|
423 |
424 |
1 |
Outside |
3.43 |
0.08 |
6.60 |
3.61 |
|
428 |
429 |
1 |
Outside |
1.03 |
0.06 |
1.70 |
1.13 |
SW-544 |
|
256 |
257 |
1 |
Outside |
1.21 |
0.01 |
0.25 |
1.22 |
|
264 |
265 |
1 |
Outside |
0.82 |
0.18 |
1.70 |
1.06 |
|
280 |
281 |
1 |
Outside |
2.31 |
0.14 |
2.20 |
2.51 |
|
435 |
438 |
3 |
Outside |
1.16 |
0.02 |
1.23 |
1.19 |
incl… |
435 |
436 |
1 |
Outside |
2.80 |
0.01 |
2.10 |
2.84 |
SW-555 |
|
388 |
393 |
5 |
Outside |
1.53 |
0.07 |
3.02 |
1.65 |
Incl... |
388 |
389 |
1 |
Outside |
5.93 |
0.09 |
7.70 |
6.12 |
SW-558 |
|
411 |
412 |
1 |
Outside |
1.22 |
0.01 |
0.25 |
1.23 |
|
457 |
458 |
1 |
Outside |
1.05 |
0.01 |
0.25 |
1.06 |
|
468 |
471 |
3 |
Outside |
0.99 |
0.06 |
2.13 |
1.08 |
|
494 |
497 |
3 |
Outside |
13.42 |
0.04 |
15.63 |
13.64 |
incl… |
496 |
497 |
1 |
Outside |
29.50 |
0.03 |
25.90 |
29.81 |
SW-564 |
|
48 |
49 |
1 |
Outside |
1.85 |
0.04 |
1.40 |
1.91 |
|
78 |
79 |
1 |
Outside |
1.86 |
0.08 |
0.60 |
1.96 |
|
197 |
202 |
5 |
Outside |
1.57 |
0.21 |
6.09 |
1.91 |
incl |
200 |
201 |
1 |
Outside |
6.33 |
0.45 |
14.60 |
7.05 |
|
419 |
434 |
15 |
Outside |
0.71 |
0.02 |
0.38 |
0.74 |
incl… |
425 |
427 |
2 |
Outside |
2.25 |
0.05 |
0.60 |
2.31 |
incl… |
432 |
433 |
1 |
Outside |
3.11 |
0.01 |
0.25 |
3.12 |
|
493 |
494 |
1 |
Outside |
2.60 |
0.10 |
0.90 |
2.73 |
|
497 |
498 |
1 |
Outside |
1.83 |
0.06 |
1.10 |
1.92 |
SW-583 |
|
285 |
286 |
1 |
Outside |
0.99 |
0.39 |
7.40 |
1.56 |
|
304 |
308 |
4 |
Outside |
1.22 |
0.23 |
3.75 |
1.54 |
incl… |
305 |
306 |
1 |
Outside |
3.79 |
0.36 |
6.70 |
4.33 |
|
529 |
530 |
1 |
Outside |
0.92 |
0.21 |
2.00 |
1.20 |
|
549 |
581 |
32 |
Outside |
0.58 |
0.03 |
0.30 |
0.62 |
incl… |
554 |
555 |
1 |
Outside |
1.21 |
0.12 |
0.60 |
1.36 |
incl… |
556 |
557 |
1 |
Outside |
1.12 |
0.03 |
0.25 |
1.16 |
incl… |
559 |
562 |
3 |
Outside |
1.21 |
0.02 |
0.25 |
1.23 |
incl… |
568 |
569 |
1 |
Outside |
1.17 |
0.02 |
0.25 |
1.19 |
incl… |
571 |
572 |
1 |
Outside |
1.28 |
0.01 |
0.25 |
1.30 |
|
688 |
689 |
1 |
Outside |
0.77 |
0.18 |
7.30 |
1.08 |
|
870 |
874 |
4 |
Outside |
0.68 |
0.02 |
35.20 |
1.07 |
|
937 |
938 |
1 |
Outside |
1.66 |
0.02 |
0.60 |
1.69 |
SW-579 |
|
24 |
31 |
7 |
Outside |
1.40 |
0.01 |
0.41 |
1.42 |
incl… |
24 |
26 |
2 |
Outside |
2.09 |
0.01 |
0.38 |
2.11 |
incl… |
28 |
30 |
2 |
Outside |
2.02 |
0.00 |
0.25 |
2.03 |
SW-616 |
|
2.73 |
9 |
6.27 |
Inside |
1.26 |
0.01 |
0.30 |
1.28 |
incl… |
5 |
6 |
1 |
Inside |
2.88 |
0.01 |
0.25 |
2.89 |
|
60 |
61 |
1 |
Inside |
1.07 |
0.02 |
0.25 |
1.10 |
|
78 |
94 |
16 |
Inside |
0.69 |
0.05 |
0.94 |
0.76 |
incl… |
78 |
79 |
1 |
Inside |
2.93 |
0.06 |
1.20 |
3.01 |
incl… |
87 |
88 |
1 |
Inside |
3.71 |
0.06 |
3.20 |
3.82 |
|
427 |
437 |
10 |
Inside |
1.35 |
0.03 |
68.68 |
2.11 |
incl… |
427 |
428.8 |
1.8 |
Inside |
2.95 |
0.02 |
58.64 |
3.60 |
|
434 |
437 |
3 |
Inside |
2.36 |
0.02 |
176.00 |
4.24 |
SW-621 |
|
16 |
17 |
1 |
Inside |
0.30 |
0.43 |
5.20 |
0.90 |
|
26 |
53 |
27 |
Inside |
0.58 |
0.03 |
0.51 |
0.62 |
incl… |
33 |
34 |
1 |
Inside |
1.07 |
0.04 |
0.60 |
1.13 |
incl… |
42 |
44 |
2 |
Inside |
0.95 |
0.01 |
0.25 |
0.97 |
incl… |
50 |
53 |
3 |
Inside |
2.36 |
0.03 |
0.97 |
2.41 |
*Note drill intervals
reported in this news release are down-hole core lengths as true
thicknesses cannot be determined with available information.
Quality Assurance and
Control
During the Southwest Zone drill program, one
metre assay samples were taken from NQ core and sawed in half.
One-half was sent for assaying at ALS Laboratory, a certified
commercial laboratory, and the other half was retained for results,
cross checks, and future reference. A strict QA/QC program was
applied to all samples; which included insertion of one certified
mineralized standard and one blank sample in each batch of 25
samples. Every sample was processed with standard crushing to 85%
passing 75 microns on 500 g splits. Samples were assayed by one-AT
(30 g) fire assay with an AA finish and if results were higher than
3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC
samples, a 50 g fire assay was done. In addition to gold, ALS
laboratory carried out multi-element analysis for ME-ICP61 analysis
of 33 elements four acid ICP-AES.
Qualified Person
The technical and scientific information in this
press release has been reviewed and approved by Kyle Frank, P.Geo.,
Manager of Exploration, who is a Qualified Person as defined by NI
43-101. Mr. Frank is an employee of Troilus and is not independent
of the Company under NI 43-101.
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.
For more information:
Caroline ArsenaultVP Corporate
Communications+1 (647) 407-7123info@troilusgold.com
Cautionary Note Regarding
Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves
do not have demonstrated economic viability; the estimate of
Mineral Resources in the updated Mineral Resource statement may be
materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
There is no certainty that the Indicated Mineral Resources will be
converted to the Probable Mineral Reserve category, and there is no
certainty that the updated Mineral Resource statement will be
realized.
The PEA is preliminary in nature, includes
inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as mineral reserves, and
there is no certainty that the PEA will be realized. Mineral
resources that are not mineral reserves do not have demonstrated
economic viability. The PEA is subject to a number of risks and
uncertainties. See below and the Company’s latest technical report
available on SEDAR for more information with respect to the key
assumptions, parameters, methods and risks of determination
associated with the foregoing.
This press release contains “forward-looking
statements” within the meaning of applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements regarding the impact of the ongoing drill
program and results on the Company, the possible economics of the
project and the Company’s understanding of the project; the
development potential and timetable of the project; the estimation
of mineral resources; realization of mineral resource estimates;
the timing and amount of estimated future exploration; the
anticipated results of the Company’s ongoing 2022 drill program and
their possible impact on the potential size of the mineral resource
estimate; costs of future activities; capital and operating
expenditures; success of exploration activities; the anticipated
ability of investors to continue benefiting from the Company’s low
discovery costs, technical expertise and support from local
communities. Generally, forward-looking statements can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “continue”,
“anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “would”, “will”, “might”
or “will be taken”, “occur” or “be achieved”. Forward-looking
statements are made based upon certain assumptions and other
important facts that, if untrue, could cause the actual results,
performances or achievements of Troilus to be materially different
from future results, performances or achievements expressed or
implied by such statements. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which Troilus will operate in the
future. Certain important factors that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements include, amongst others, currency
fluctuations, the global economic climate, dilution, share price
volatility and competition. Forward-looking statements are subject
to known and unknown risks, uncertainties and other important
factors that may cause the actual results, level of activity,
performance or achievements of Troilus to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: there being no assurance that the
exploration program will result in expanded mineral resources;
risks and uncertainties inherent to mineral resource estimates; the
impact the COVID 19 pandemic may have on the Company’s activities
(including without limitation on its employees and suppliers) and
the economy in general; the impact of the recovery post COVID 19
pandemic and its impact on gold and other metals; the receipt of
necessary approvals; general business, economic, competitive,
political and social uncertainties; future prices of mineral
prices; accidents, labour disputes and shortages; environmental and
other risks of the mining industry, including without limitation,
risks and uncertainties discussed in the most recent Technical
Report and in other continuous disclosure documents of the Company
available under the Company’s profile at www.sedar.com. Although
Troilus has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers 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.
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