# Troilus Mining Corporation (TSX:TLG)

> Troilus Mining Corporation is a Canadian development-stage mining company focused on the responsible advancement of its flagship gold and copper Troilus Project in north-central Quebec.

## About

Troilus Mining Corporation is a Canadian development-stage mining company focused on the responsible advancement of its flagship gold and copper Troilus Project in north-central Quebec. Located within the prolific Frôtet-Evans Greenstone Belt, the 435 km² property hosts one of the largest undeveloped gold-copper deposits in North America. Following a successful history of production (1996–2010), Troilus is now being redeveloped as a long-life, open-pit operation, supported by strong infrastructure and a clearly defined path to production. A Feasibility Study completed in May 2024 supports a generational scale 22-year mine life at 50,000 tonnes per day, with projected average annual production of 303,000 oz of gold equivalent (or 135.4 million lbs of copper equivalent). The Project stands out as one of the largest and most attractive development-stage assets in Canada. With permitting well underway, a strong technical and financial foundation, and long-term stakeholder support, Troilus is advancing toward construction with the goal of delivering lasting value to shareholders and communities.

## Key facts

- **Cash position:** 153 M
- **Shares outstanding:** 546980174
- **Fully diluted shares:** 598055783
- **Warrants:** 26511144
- **Options:** 0
- **Mineral resource:** Probable Mineral Reserve estimate totaling 380 million tonnes, grading 0.59g/t AuEq (0.49 g/t Au, 0.058 % Cu and 1.0 g/t Ag) and containing 7.26 million ounces of gold equivalent (6.02 Moz Au, 484 Mlb Cu and 12.15 Moz Ag), reflecting the successful conversion of Indicated and Inferred Mineral Resources. This mineral reserve estimate has an effective date of January 15, 2024, and is based on the mineral resource estimate dated October 2, 2023, for Troilus by AGP Mining Consultants Inc. The Mineral Reserve estimate was completed under the supervision of Willie Hamilton, P.Eng. of AGP, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final pit designs based on a US$1,550/oz gold price, US$20.00/oz silver price and US$3.50/lb copper price. An NSR cut-off of C$9.96/t was used to define reserves. The life-of-mine mining cost averaged C$3.99/t mined, preliminary processing costs were C$8.02/t ore and G&A was C$1.94/t ore placed. The metallurgical recoveries were varied according to gold head grade and concentrate grades. 87 pit recoveries for equivalent grades were 95.5%, 94.7% and 98.2% for gold, copper, and silver respectively. J pit recoveries for equivalent grades were 93.1%, 89.3% and 88.9% for gold, copper, and silver respectively. X22 pit recoveries for equivalent grades were 95.5%, 94.7% and 98.2% for gold, copper, and silver respectively. SW pit recoveries for equivalent grades were 85.7%, 91.5% and 85.6% for gold, copper, and silver respectively. The formulas used to calculate equivalent values are as follows, for 87 Pit AuEq = Au + 1.5361*Cu +0.0133 *Ag, for J Pit AuEq = Au + 1.4849*Cu +0.0123*Ag, for SW Pit AuEq = Au + 1.6535*Cu +0.0129*Ag, for X22 Pit AuEq = Au + 1.5361*Cu +0.0133*Ag. Please refer to the identified risks in the Company’s Annual Information Form available under the Company’s profile at www.sedarplus.ca for known legal, political, environmental, and other risks that could materially affect the potential development of the mineral resources and mineral reserves.
- **Projects:** ["The Troilus Project is comprised of four main zones of mineralization, which are located on a NE-SW trend covering approximately seven kilometres. These deposits will be mined using conventional open pit mining methods over a 22-year period. Ore will be processed in a flotation mill to produce gold-rich copper concentrate for sale to a smelter, with provision for gravity gold recovery to produce doré after Year 1. The projected payable gold production averages 256,200 oz per year over the first 5 years, 241,200 oz per year for the remaining 17 years, for a LOM average of 244,600 oz per year. Copper payable annual production averages 16.1 million pounds per year for the first five years, 17.7 million pounds per year for the remaining 17 years and 17.3 million pounds for the life of mine average. Silver payable annual production is 475,200 oz per year for the first five years, 438,300 oz per year for the remaining 17 years with a life of mine annual average of 446,700 oz per year. The production profile is shown in Figure 1."]
- **Leadership:** Justin Reid (President & CEO, Mr. Reid is a geologist and capital markets executive with over 20 years of experience focused exclusively in the mineral resource space. He has held various senior roles including Executive General Manager at Paladin Energy and Managing Director at Aguia Resources Ltd.), Denis Rivard (Executive Vice President, Projects, Mr. Rivard is a professional engineer with over 40 years of experience in project leadership and strategic advisory roles, specializing in mining and infrastructure.), Brianna Davies (Sr. Vice President, Legal & Corporate Secretary, Ms. Davies is a corporate securities lawyer with over fifteen years of experience in the mining industry.), Catherine Stretch (Senior Vice President, Corporate Affairs and Sustainability, Ms. Stretch has over 20 years of experience in capital markets with a focus on resource and agriculture companies.), Marty Rendall (CFO, Mr. Rendall has over 30 years of experience in senior financial leadership roles within the mining industry.), Susanna Milne (Vice President, Finance, Ms. Milne is a Chartered Professional Accountant with nearly two decades of experience in the mining sector.), Jacqueline Leroux (Vice President, Environment and Permitting, Mrs. Leroux has over 20 years of experience in the mining industry, focusing on environmental management.), Andy Fortin (Vice President, Operations and General Manager of the Troilus Mine, Mr. Fortin has over 28 years of expertise in mineral processing and project management.), Daniel Bergeron (Vice President, Special Projects, Mr. Bergeron has over 20 years of experience in community affairs and partnerships with First Nation communities.), Julien Roufast (Vice President, Commercial, Mr. Roufast has over 15 years of experience managing large-scale infrastructure projects.), Chris Sharpe (Vice President, Technical Services, Mr. Sharpe has over 20 years of experience in mine planning and project management.), Kyle Frank (Vice President, Corporate Development, Mr. Frank is a Professional Geoscientist with over a decade of experience in advanced stage exploration.), Caroline Arsenault (Vice President, Corporate Communications, Ms. Arsenault has nearly 20 years of experience in investor relations and corporate communications within the mining sector.)

_Verified data last updated: 2026-05-15_

## Recent filings

- 2026-05-19 — press_release — [tlg_2026-05-19_06-13-40.pdf](https://chat.orbiton.app/tlg/preview/51298?documentId=51298)
- 2026-05-19 — press_release — [tlg_2026-05-19_06-13-10.pdf](https://chat.orbiton.app/tlg/preview/51299?documentId=51299)
- 2026-05-05 — press_release — [TROILUS PORTE SON MANDAT DE FINANCEMENT PAR DETTE JUSQU’À 1,2 G$ US Un mandat élargi qui renforce les bases du financement du Projet, soutenu par des prêteurs mondiaux de premier plan et des agences de crédit à l’exportation Le 5 mai, Montréal (Québec) – Corporation minière Troilus (TSX : TLG; OTCQX](https://chat.orbiton.app/tlg/preview/38195?documentId=38195)
- 2026-05-05 — press_release — [TROILUS UPSIZES DEBT FINANCING MANDATE FOR UP TO US$1.2 BILLION Expanded mandate strengthens foundation for majority of project funding, backed by leading global lenders and export credit agencies May 5, 2026, Montreal, Quebec – Troilus Mining Corp. (TSX: TLG; OTCQX: CHXMF; FSE: CM5) (“Troilus” or t](https://chat.orbiton.app/tlg/preview/38196?documentId=38196)
- 2026-04-29 — other — [tlg_2026-04-29_12-13-35.pdf](https://chat.orbiton.app/tlg/preview/35416?documentId=35416)
- 2026-03-31 — press_release — [TROILUS PROVIDES UPDATE ON 2026 EXPLORATION PROGRAM, INCLUDING 40,000M DRILL CAMPAIGN](https://chat.orbiton.app/tlg/preview/23383?documentId=23383)
- 2026-03-31 — press_release — [TROILUS  FOURNIT  UNE  MISE  À  JOUR  SUR  SON  PROGRAMME  D'EXPLORATION  2026, INCLUANT UNE CAMPAGNE DE FORAGE DE 40 000 MÈTRES](https://chat.orbiton.app/tlg/preview/23384?documentId=23384)
- 2026-03-24 — press_release — [TROILUS  FINALISE L'INGÉNIERIE DE  BASE  ET  FAIT  PROGRESSER L'INGÉNIERIE DÉTAILLÉE ALORS QUE L'ÉTAT DE PRÉPARATION À L'EXÉCUTION DU PROJET S'ACCÉLÈRE](https://chat.orbiton.app/tlg/preview/23385?documentId=23385)

## Investor FAQ

### [Latest news?](https://chat.orbiton.app/tlg/faq/latest-news)

On May 5, 2026, Troilus Mining Corporation announced an expanded debt financing mandate for up to US$1.2 billion, which strengthens the foundation for the majority of project funding, backed by leading global lenders and export credit agencies. This development is part of the company's ongoing efforts to advance its Troilus Project.

### [Upcoming Catalysts?](https://chat.orbiton.app/tlg/faq/upcoming-catalysts)

Troilus Mining is currently advancing its detailed engineering as part of the project execution readiness, which is expected to accelerate in the coming months. Additionally, the company is conducting a 40,000-meter drill campaign as part of its 2026 exploration program, which may provide further insights into the mineral resources.

## Live AI chat

- https://chat.orbiton.app/tlg/chat
- Investor website: https://troilusmining.com/