Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5R) announces that it has completed a non-brokered private placement of approximately CAD$5.8 million to funds managed by VanEck Associates Corporation, a globally recognized investment management firm known for its forward-looking approach to identifying investment trends and one of the most influential institutional investors in the precious metals and junior mining sectors.

The Offering consisted of 16,478,900 common shares of the Company at a price of C$0.35 per share, representing a 1.45% premium to the five-day volume-weighted average price of C$0.345 as of January 29, 2025. Following the closing of the Offering, the accounts managed by VanEck now hold approximately 4.3% of Troilus’s total issued and outstanding shares, further aligning itself with the Company’s long-term growth and development. The net proceeds of the Offering shall be used for general corporate and working capital purposes. The securities issued are subject to a regulatory hold period that expires on June 7, 2025.

VanEck’s participation in this Offering is a powerful endorsement of the Troilus Project’s quality, value potential, and long-term scalability, further strengthening the Company’s position as it advances toward construction and future production.

Justin Reid, CEO of Troilus, commented “We are pleased to welcome VanEck as a strategic investor in Troilus. Their investment is a strong endorsement of the Troilus Project’s quality and its potential to become a cornerstone Canadian mining operation. As one of the most respected institutional investors in the gold sector, VanEck’s support further strengthens our position as we advance toward construction.”

VanEck is a leading global investment manager, offering both active and passive strategies across various structures, including ETFs, mutual funds, and institutional portfolios. The firm is known for identifying long-term investment trends, including its early recognition of gold’s transformative potential as an asset class.

The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Troilus Gold Corp.

Troilus Gold 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. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.