Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5R) is pleased to announce that is has agreed to indicative commercial offtake terms with Boliden Commercial AB for the sale of copper-gold concentrate expected to be produced from the Company’s Troilus Project in north-central Quebec, Canada. Boliden is a leading global base and precious metals company that operates seven mines and five smelters throughout Sweden, Finland, Norway, Ireland and Portugal.

This agreement marks the second offtake arrangement for Troilus, following the recently announced agreement with Aurubis AG (see June 18, 2025, press release). Together, these partnerships further validate the quality of Troilus’ anticipated concentrate and highlight the Project’s strategic importance within the European critical minerals supply chain.

As outlined in the Company’s May 2024 Feasibility Study (see May 14, 2024 press release), the Troilus Project is expected to produce an annual average of approximately 135.4 million pounds of copper equivalent, or 75,000 wet metric tonnes (WMT) of concentrate containing payable copper, gold, and silver.

Justin Reid, CEO of Troilus Gold, commented, “We are proud to welcome one of Europe’s most respected mining and smelting companies as an offtake partner, renewing a long-standing relationship that began during Troilus’ past-producing years, when Boliden processed some of the site’s original concentrate. We are pleased to align with key players in Europe’s critical minerals ecosystem and believe these recent offtake agreements reinforce our technical credibility and the high quality of the product we intend to deliver. With the recent filing of our Environmental and Social Impact Assessment and these offtake milestones, we are advancing across regulatory, technical, and commercial fronts toward a construction decision. We look forward to building a long-term partnership with Boliden and are proud to align with organizations that share our values around responsible sourcing and long-term collaboration.”

The final binding offtake agreements with both Boliden and Aurubis are expected to be executed in connection with the completion of the Project’s broader US$700 million debt financing package, announced on March 13, 2025. This financing is being structured by a syndicate of global financial institutions, including Société Générale, KfW IPEX-Bank, and Export Development Canada (“EDC”), and is expected to include support from various European export credit agencies including Finnvera plc, the official Export Credit Agency of Finland, and from EKN, the Swedish Export Credit Agency, tied to equipment procurement and long-term offtake agreements.

The indicative offtake terms include expected specifications for concentrate quality, payabilities on precious metals, treatment and refining charges, and penalties for deleterious elements. Metallurgical testwork conducted to date, along with historical data from the prior operation, indicates that no penalties are anticipated outside the thresholds outlined in the agreement.

Auramet International Inc. remains engaged in the ongoing structuring of the debt package and lender engagement, and Ocean Partners USA Inc. continues to act as Troilus’ independent third-party advisor on the development and negotiation of its concentrate offtake strategy.

The Company remains focused on advancing all aspects of the Project toward a construction decision and will provide further updates as progress continues.

*The completed NI 43-101 technical report associated with the Troilus Project Feasibility Study can be found on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile or on the Company’s website at www.troilusgold.com.

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.