Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5R) is pleased to announce a further advancement in its project financing strategy with two Letters of Intent from Finnvera plc, the official Export Credit Agency of Finland, for up to US$300 million and The Swedish Export Credit Agency for approximately US$200 million. These LOI’s have been presented to support the development of the copper and gold Troilus Project. These new LOIs, follow the recent US$500 million LOI from Euler Hermes announced on November 13, 2024, and further enhance the Company’s strategic approach to securing a comprehensive financing package for the Project’s development.

Highlights:

• Troilus has received an LOI from Finnvera, the official export credit agency of Finland, confirming in-principle eligibility for an untied loan guarantee of up to US$300 million to support the Project’s financing package.

• Finnvera’s support is contingent on strategic partnerships with a Finnish equipment provider and Boliden, one of Europe’s largest smelting companies with copper operations in Sweden and Finland. This collaboration contemplates equipment procurement from the Finnish provider for between US$50-100 million and an anticipated 10-year copper-gold concentrate offtake agreement with Boliden, estimated at an annual value of approximately US$200 million.

• The Swedish Export Credit Agency in parallel with Finnvera is providing cover of approximately US$200 million or up to 25% of the offtake agreement with Boliden under the Swedish Raw Material Guarantee.

• Such support is also subject to customary due diligence including but not limited to, economic, technical, environmental, governance and social.

• These LOI’s from Finnvera and EKN complement the US$500 million LOI received from Euler Hermes, securing support from premier European credit agencies and significantly strengthening Troilus’s ability to execute its development plans.

Justin Reid, CEO of Troilus, commented, “With the addition of US$500 million in LOIs from Finnvera and EKN, we have now received in-principle support representing a significant percentage of the Project’s total capex. This further demonstrates the strength and strategic importance of the Troilus Project on an international scale. The partnerships with the Finnish, Swedish and German export credit agencies, underscore the strength of the Project’s fundamentals and the confidence these global institutions have in Troilus. As we progress towards securing a fully funded construction package, we’re confident in our approach and proud to see Troilus recognized as a critical North American copper-gold asset in the global supply chain.” 

Troilus remains focused on finalizing its financing strategy and advancing the Troilus Project toward development. These recent LOIs form a strong foundation, and the Company looks forward to sharing further updates on this multi-faceted financing package in the coming weeks and months.

Auramet International Inc. continues to assist with the structuring, identification and engagement of potential financing participants.

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.