Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) reports the discovery of a new area of gold mineralization extending over 300 metres south west of the main Zone 87, within the “Zone 87 South” trend at its Troilus Gold Project, located within the Frotêt-Evans Greenstone Belt in Quebec, Canada.

The Z87 South exploration target is located directly south west of Zone 87 and the former main Z87 open pit. These drill results have outlined extensions of mineralization to the south and down-dip of the previously known mineral envelope in Zone 87.   

Notable intercepts that have extended mineralization into Z87 South, include:

• 5.06 g/t gold equivalent (AuEq) over 6 metres within a broader intersection of 1.10 g/t AuEq over 48 metres in hole TLG-Z87S19-133

• 3.85 g/t AuEq over 2 metres within a broader intersection of 0.96 g/t AuEq over 16 metres,  in hole TLG-Z87S19-139

• 2.53 g/t AuEq over 2 metres within a broader intersection of 1.14 g/t AuEq over 6 metres; 2.37 g/t AuEq over 2 metres within 1.04 g/t AuEq over 10 metres, and 2.26 g/t AuEq over 2 metres within 1.29 g/t AuEq over 4 metres in hole TLG-Z87S19-138

• 2.40 g/t AuEq over 2 metres within a broader intersection of 1.11 g/t AuEq over 8 metres in hole TLG-Z87S19-134

• 2.22 g/t AuEq over 2 metres within 1.03 g/t AuEq over 8 metres, and 1.40 g/t AuEq over 6 metres in hole TLG-Z87S19-136

• 2.21 g/t AuEq over 2 metres within 0.99 g/t AuEq over 8 metres and 2.09 g/t AuEq over 2 metres within 1.31 g/t AuEq over 4 metres in hole TLG-Z87S19-142

Justin Reid, CEO of Troilus, commented, “We are very pleased to see our improved geological understanding of the project’s mineral trend being validated by drill results and discoveries. The new area of gold mineralization extending into Z87 South shows continuity from Z87 and remains open to the south west. Z87 South has now become a major focus for our program and we look forward to providing additional results in due course.”

Zone 87 South is located directly adjacent to the main former open pit mine, Zone 87 (see Figure 1). The 2019 drill program in Z87 South was designed to follow-up on the positive few holes drilled in this zone last year, while increasing drill resolution and improving our evolving geological understanding of the main mineral trend on the property.

Management believes the new results from Z87 South clearly demonstrate a mineral continuity that extends south beyond the limit of Z87. The discovery of this mineralized extension is a result of the Company’s new understanding of the structural influence on mineralization across the deposit and the regional trend. Based on measurements taken on outcrops and in the mined open pit walls, the Company directed drilling further to the west with the intention of targeting a mineralized zone that it suspected historic drilling may have missed.

The mineralization at Z87 South is visually comparable to what is seen in the main zone of Z87, however the geology can be characterised as more felsic (silicic) alteration and is distinctly transitioning into a unit of massive sulphides (primarily pyrite with chalcopyrite) in the footwall, which has never previously been documented (See Figure 4). Z87 South has a recognizable base metal signature that is unique to this area. The company believes Z87 South shows the same pinch and swell nature (see quartz vein example in Figure 3) recognized in the main ore zones of Z87 and J Zones. Further drilling will add resolution to this area and could potentially define a new broad gold zone.

Figure 1: Plan view of Main Mineralized Zones and Drill Hole Collars and Traces in Z87 South

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Figure 2: Section 12800 Facing North

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Figure 3: Example of the pinch and swell nature of quartz veining at Troilus in the Z87 pit wall

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Figure 4: Sulphide-rich Zone, Z87 South

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Table 1: Summary of Drill Hole Intercepts

*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information

Quality Control

During the 87S Zone drill program, two metres assay samples are taken from NQ core and sawed in half. One-half is sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half is retained for results, cross checks, and future reference. A strict QA/QC program is applied to all samples; which include insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. The gold analyses were by metallic sieve. A fine crushing 70% <2mm is performed. The sample is divided so that 1.2 to 1.5 kg is used for analysis. The sample of 1.2 to 1.5 Kg is then 95% pulverized <106 mesh. 50 g is recovered for ME-ICP61 analysis of 33 elements four acid ICP-AES. The remainder of the sample is sent to the screen to divide the fraction larger and smaller than 106 mesh. The portion smaller than 106 mesh is analyzed in 50 g by Fire Assay. The portion larger than 106 mesh is fully analyzed. The values are then combined by weighted calculation. For both type results are transmitted to Troilus Gold by a certificate certified by the laboratory.

Qualified Person

The technical and scientific information in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., Senior Project Geologist, who is a Qualified Person as defined by National Instrument 43-101. Mr. Brassard is an employee of Troilus and is not independent of the Company under National Instrument 43-101.

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 16,000-hectare Troilus property is located northeast of the Val-d’Or district, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.