Troilus Mining Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5) is pleased to announce that it has received a credit-approved commitment letter from KfW IPEX-Bank and Societe Generale to underwrite a total of US$850 million in debt financing to support the development of its Troilus Gold-Copper Project in Québec, Canada. This commitment forms part of a planned total anticipated US$1.1 billion debt financing package, which includes a proposed US$250 million contribution from Export Development Canada that remains subject to EDC’s final approvals.

The Commitment Letter represents a major advancement under the Company’s previously announced debt financing mandate (see May 5, 2026 press release), moving a substantial portion of the proposed debt package from mandate to credit-approved underwriting commitments. The approvals follow extensive technical, environmental, social and financial due diligence by the lenders and mark an important step toward a fully funded construction decision.

Justin Reid, CEO of Troilus, commented, “These credit approvals represent one of the most significant financing milestones in Troilus’s development to date. The underwriting commitments from KfW IPEX-Bank and Societe Generale reflect the depth of work undertaken to establish the Project’s technical and economic foundations and advance our execution plan. With US$850 million in credit-approved commitments, we have taken a substantial step toward assembling the funding required to build Troilus. Our focus is now on completing the broader financing package to reach a final investment decision and financial close, while advancing permitting, detailed engineering and procurement to support construction readiness.”

Debt Financing Structure and Terms

The commitments from KfW IPEX-Bank and Societe Generale comprise senior secured project finance facilities expected to form a cornerstone of the Project’s overall financing package. The Commitment Letter is subject to various conditions precedent, including, but not limited to, receiving debt commitments for the total US$1.1 billion facility, receiving approvals from each applicable export credit agency, finalization of ongoing diligence, execution of definitive documents and support arrangements, there being no material adverse change and receipt of all required regulatory approvals, among other conditions.

Structured with anticipated support from European export credit agencies, the Debt Facilities feature competitive interest margins consistent with export credit-backed project financings involving leading international lenders and sovereign support. The proposed structure combines attractive pricing with an extended repayment profile, providing a cost-effective source of capital aligned with the Project’s development and operating requirements.

The Debt Facilities include up to a three-year repayment grace period during construction, followed by a sculpted repayment profile over a notional 10-year period aligned with expected cash flow generation. Final terms and further details are expected to be disclosed upon execution of definitive financing documentation.

EDC, one of the Project’s three mandated lead arrangers alongside the Commercial Lenders, continues to advance its approval process for a proposed US$250 million financing contribution. If approved, this contribution would bring total credit-approved debt commitments to US$1.1 billion. Troilus is also working with the participating European export credit agencies on the remaining approvals and support arrangements for the broader debt financing package.

The Project represents a significant opportunity to expand Canada’s copper and gold exports, strengthen long-term supply relationships with trusted European trading partners, and deliver lasting economic benefits for Québec and Canada. As a mandated lead arranger, EDC is working closely with the lending syndicate and participating European export credit agencies to advance the financing while continuing to work toward its final approvals.

Advancing Toward Financial Close

Building on these commitments, Troilus and its project finance advisor, Auramet International Inc., are focused on finalizing definitive facility agreements, completing the broader financing package and satisfying the various conditions and completion requirements to reach a final investment decision and financial close.

Qualified Persons

The technical and scientific information in this press release has been reviewed and approved by Denis Rivard, P.Eng., EVP Projects, who is a Qualified Person as defined by NI 43-101. Mr. Rivard is an employee of Troilus and is not independent of the Company under NI 43-101.

About Troilus Mining Corp.

Troilus Mining Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. The Technical Report outlines a large-scale, approximately 26-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.

For more information:

Caroline Arsenault
VP Corporate Communications
+1 (647) 276-0050
info@troilusmining.com