Troilus Mining Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5), is pleased to announce the fourth batch of results from the Z87 optimization drill program at its Troilus Gold-Copper Project located in north-central Quebec, Canada. The results reported include nine drill holes totaling 4,728 metres, and form part of the 2026 exploration program outlined in the Company’s March 31, 2026 press release.

The ongoing Z87 optimization program is is targeting Inferred material and historically unsampled intervals within and around the current Z87 Reserve pit, with the objective of identifying opportunities to improve the mine plan presented in the Company’s Technical Report on September 9^th, 2026.

Importantly, the current Mineral Resource and Mineral Reserve estimates have an effective date of December 31, 2025, and therefore exclude all drilling completed in 2026. The results reported today continue to demonstrate mineralization in areas currently classified as Inferred or, in some cases, treated as waste in the existing block model, creating potential opportunities for resource conversion, pit and mining sequence optimization, strip ratio improvements and enhanced early-year mill feed.

Z87 Intercept Highlights:

• Hole 87-26-485 intersected 0.95 g/t gold equivalent (0.80 g/t Au, 1.11 g/t Ag, 0.10% Cu) over 129.05 m, including 3.38 g/t AuEq (2.97g/t Au, 1.80 g/t Ag, 0.29 % Cu) over 22 m starting at 398 m downhole from an area of inferred material within the Z87 reserve pit (see Figures 1 and 2).
• Hole 87-26-531 intersected 0.99 g/t gold equivalent (0.84 g/t Au, 1.20 g/t Ag, 0.10 % Cu) over 74.3 m, including 3.15 g/t AuEq (2.73 g/t Au, 1.88 g/t Ag, 0.30 % Cu) over 3.3m starting at 468 m downhole from an area of inferred material within the Z87 reserve pit (see Figures 1 and 2).
• Hole 87-26-529 intersected 1.15 g/t gold equivalent (1.00 g/t Au, 0.84 g/t Ag, 0.11 % Cu) over 45 m, including 5.42 g/t AuEq (4.73 g/t Au, 5.45 g/t Ag, 0.46 % Cu) over 2 m starting at 579 m from an area of inferred material 70 m below the Z87 reserve pit(see Figures 1 and 3).
• Hole 87-26-515 intersected several intervals of mineralization in the historically unsampled Z87 hangingwall where the current resource model does not contain mineralized blocks (see Figure 3 and Table 1).

Justin Reid, CEO of Troilus, commented, “None of our 2026 drilling is included in the latest Resource and Reserve estimates, and we continue to see impactful drill results from within and around the Z87 Reserve pit. We are targeting Inferred material and historically unsampled intervals, and the drilling is showing more extensive mineralization than is currently represented in the resource model. The results indicate mineralization in an area that is currently modeled as waste. Subject to further drilling, geological modelling, engineering evaluation and incorporation into future mine-plan updates, the mineralization may have the potential to reduce waste movement and improve strip ratios in this portion of the deposit.”.”

Z87 Optimization Program

Z87 was one of two zones previously mined by open pit during the former Troilus operation. Many of the historical drill holes used to define the former mine reserve were not continuously sampled, leaving intervals of core – in some cases extending for several hundred metres – without assay data.

For the purposes of resource estimation, these unsampled intervals are assigned values equal to one-half of the laboratory detection limit, resulting in significant gaps within the current block model. The 2026 optimization program is systematically testing these areas to determine whether mineralization extends through historically unsampled intervals that are presently modelled as waste.

The program is also targeting Inferred material within and around the current Z87 Reserve pit, with the objective of collecting data to support potential conversion to the Indicated category and consideration for possible incorporation into future Mineral Reserve and mine-plan updates.

The results announced today build on earlier 2026 drilling at Z87 that has demonstrated mineralization beyond and within the current Reserve pit, including broad intervals encountered in historically unsampled areas of the hangingwall (see press releases dated August 20, 2026, July 7, 2026 and June 25, 2026.)

All grades are uncut, and true thicknesses are approximately 75% to 90% of drilled length.

*The NI 43-101 technical report associated with the mineral Resources and Reserves of the Troilus Project can be found on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile or on the Company’s website at www.troilusmining.com

Figure 1. Plan map with the reported drill hole locations from Z87

Figure 2. Cross section showing results for drillhole 87-26-485 and 87-26-531.

Figure 3. Cross section showing results for drillhole 87-26-515 and 87-26-529.

Z87 Drilling

Dillholes 87-26-485 was drilled to target inferred material within the Z87 reserve pit (see Figures 1 and 2). The main zone returned 129.05 metres grading 0.95 g/t AuEq including 3.38 g/t AuEq over 22 metres, which includes 4.34 g/t AuEq over 12.47 metres. This area of the reserve pit contains inferred blocks that are not incorporated into the current mine plan. This drilling was planned with the goal of upgrading the resource to the Indicated category for consideration in future production schedules.

On the same section, 120 metres down dip, drillhole 87-26-531 returned 125.5 metres grading 0.74 g/t AuEq, including 74.3 metres grading 0.99 g/t AuEq from the main zone of Z87, where it was targeting Inferred material. The hangingwall returned 20 metres grading 0.31 g/t AuEq and 41.4 metres grading 0.28 g/t AuEq where the current block model does not contain mineralization, as this area is informed by historically unsampled drillholes.

On a section 50m south of 87-26-485 and 87-26 531 (Figure 1), drillhole 87-26-529 returned 1.15 g/t AuEq over 45 metres within a broader zone of 0.51 g/t AuEq over 154 metres from the main zone of Z87 approximately 70 metres below the reserve pit (see Figure 3). This hole also returned 73 metres grading 0.35 g/t AuEq including 0.72 g/t AuEq over 13 metres from the Z87 hangingwall and 0.53 g/t AuEq over 40 metres including 1.54 g/t AuEq over 8 metres from the footwall. These intercepts present significantly broader mineralization than is currently in the resource model.

87-26-515 was drilled to target an area of historically unsampled material approximately 50 metres up dip of hole 87-26-529. This hole returned several intervals of mineralization where the current resource is unmineralized due to the impacts of historically unsampled intervals being assigned half the lab analysis detection limit for the purpose of resource estimation. These intercepts include 0.80 g/t AuEq over 8 metres including 1.48 g/t AuEq over 3 metres, 0.61 g/t AuEq over 12 metres including 1.52 g/t AuEq over 3.5 metres, 1.15 g/t AuEq over 7 metres including 5.04 g/t AuEq over 1 metres and 93 metres grading 0.46 g/t AuEq, which including intercepts of 1.07 g/t AuEq over 10 metres and 1.06 g/t AuEq over 10 metres.

To date, Troilus has released 39 drillholes totaling 14,521 metres of the approximately 24,000 metres allocated to the Z87 pit optimization program, which includes the targeting of Inferred and unsampled material within and around the reserve pit shell.

Table 1. Z87 Drill Results

^{* AuEq = Au grade + 1.3365 * Cu grade + 0.0136 * Ag grade}

Quality Assurance and Control

During the drill program, one meter assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at ALS Laboratory in Sudbury Ontario, a certified independent 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 Nicolas Guest, P.Geo., Exploration Manager, who is a Qualified Person as defined by NI 43-101. Mr. Guest is an employee of Troilus and is not independent of the Company under NI 43-101.

AuEq Disclosure

The formulas used to calculate equivalent values for resources are as follows, for 87 Pit AuEq = Au + 1.3365*Cu +0.0136 Ag, for J Pit AuEq = Au + 1.3618Cu +0.0137 Ag, for SW Pit AuEq = Au + 1.3856Cu +0.01141 Ag, for X22 Pit AuEq = Au + 1.3168Cu +0.0136 *Ag. AuEq was calculated using metal prices of $2,415/oz Au; $4.60/lb Cu and $32.00/oz Ag and recoveries of 84.5% for Au, 86.9% for Ag and 88.1% for Cu in the J pit, 85.9% for Au, 87.6% for Ag and 87.9% for Cu in the 87 pit, 82.1% for Au, 87.1% for Ag and 87.1% for Cu in the SW pit and 85.6 % for Au, 87.0% for Ag and 86.3% for Cu in the X22 pit.

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. A technical report completed in September 2026 supports a large-scale 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