MONTREAL, June 11, 2026 (GLOBE NEWSWIRE) -- Troilus Mining Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF; FSE: CM5R) is pleased to announce additional drill results from the West Rim Zone (“West Rim”) as part of its ongoing 2026 Exploration Program (see March 31, 2026 press release) at its copper-gold Troilus Project located in northcentral Quebec, Canada.

The now completed Phase 1 West Rim drill program focused on expanding the mineralized footprint of the West Rim Zone, which was initially discovered in 2024 through near-mine exploration drilling west of the North Reserve Pit (see May 30, 2024 press release). The latest results continue to demonstrate the emergence of a significant high-grade mineralized zone located entirely outside the current mineral resource estimate and within 200 metres of the reserve pit outlined in the Company’s 2024 Feasibility Study (see May 14, 2024 press release).

Importantly, the intercepts reported from West Rim compare favourably to some of the highest-grade near-surface intercepts associated with the current reserve pit areas at Troilus while remaining in close proximity to planned mining and infrastructure areas. The results continue to support the potential for both open pit and underground development scenarios at West Rim. All grades are uncut, and true thicknesses are approximately 75% to 90% of drilled length.

West Rim Intercept Highlights (see Figure 1):

• Hole WR-26-013 intersected 6.93 g/t gold equivalent (“AuEQ”) (6.91 g/t Au, 0.97g/t Ag, 0.00 % Cu) over 18.5 m,including 19.06 g/t AuEQ (19.03 g/t Au, 1.76 g/t Ag, 0.00 % Cu) over 6.4 m, which includes 53.90 g/t AuEQ (53.85 g/t Au, 4.29 g/t Ag, 0.00 % Cu) over 2 m, starting at just 11.5 m downhole.
  
  
• Hole WR-26-014 intersected 1.80 g/t gold equivalent (“AuEQ”) (1.75 g/t Au, 2.64 g/t Ag, 0.01 % Cu) over 23.85 m,including 3.82 g/t AuEQ (3.77 g/t Au, 4.09 g/t Ag, 0.00 % Cu) over 9.8 m, which includes 6.81 g/t AuEQ (6.71 g.t Au, 7.73 g/t Ag, 0.01 % Cu) over 5 m, starting at just 19.25 m downhole.
  
  
• Hole WR-26-015 intersected 1.58 g/t gold equivalent (“AuEQ”) (1.56 g/t Au, 0.92 g/t Ag, 0.01 % Cu) over 13.5 m,including 16.23 g/t AuEQ (16.20 g/t Au, 2.10 g/t Ag, 0.00 % Cu) over 0.6 m starting at 113.5 m downhole.
  
  

Justin Reid, CEO of Troilus, commented, “West Rim continues to deliver some of the strongest near-surface drill results encountered to date at Troilus, immediately adjacent to our planned reserve pits and entirely outside the current resource estimate. The consistency of high-grade mineralization we are seeing across the trend is particularly encouraging and continues to demonstrate the potential for West Rim to evolve into a meaningful near-mine zone within the broader Troilus Project. Importantly, these latest intercepts continue to outperform the original discovery drilling completed in 2024 while reinforcing the significant exploration upside that remains across the property. With only approximately half of the planned drilling completed to date at West Rim, we believe there remains considerable opportunity for further expansion.”

^{*The completed NI 43-101 technical report associated with the Troilus Project FS 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}

West Rim Drilling

Drillhole WR-26-013 returned 6.93 g/t AuEQ over 18.5 metres, including 19.06 g/t AuEQ over 6.4 metres, while drillhole WR-26-14 returned 1.80 g/t AuEQ over 23.85 metres, including 6.81 g/t over 5 metres from the main West Rim trend. These intercepts begin at shallow downhole depths of just 11.5 metres and 19.25 metres, respectively, and are located approximately 100 metres apart along strike.

Together, these intercepts define a continuous high-grade corridor near surface and represent some of the strongest near-pit grade-thickness results drilled to date at Troilus. The mineralization remains open along strike and at depth.

The main West Rim trend extends an additional 170 metres to the north where drillhole WR-26-016 returned 2.92 g/t AuEQ over 19 metres including 7.82 g/t AuEQ over 5 metres (see May 19, 2026 press release). Mineralization presents as layered bands of semi-massive pyrite and pyrrhotite with enrichment in gold and silver. There is little to no copper contributing to the gold equivalent formula.

Further down dip, drillhole WR-26-015 returned 1.58 g/t AuEQ over 13.5 metres including 16.23 g/t AuEQ over 0.6 metres beginning at 113.5 metres downhole. This intercept is located approximately 100 metres down dip from the original discovery hole X22-24-080 (see May 30, 2024 press release), which returned 1.37 g/t AuEQ over 11 metres within a broader zone of 0.74 g/t AuEQ over 32 metres, and continues to demonstrate the continuity of high-grade mineralization at depth within the system.

Next Steps

All results are being incorporated into the evolving geological and structural model for West Rim, with planning underway for an expanded Phase 2 drill campaign.

The results released to date represent approximately half of the 3,000 metres budgeted for West Rim in 2026. Given the success of the initial drilling campaign, the Company expects to continue both infill and expansion drilling along the known mineralized trend while also testing the broader West Rim corridor, which remains largely underexplored along its interpreted five-kilometre prospective strike length.

Upcoming work is expected to include additional drilling, structural interpretation, and trial geophysical techniques aimed at improving targeting within the highly deformed sulfide-rich mineralized system.

Figure 1. Plan map with the reported drill hole locations

Table 1. West Rim Drill Results

^{* AuEq = Au grade + 1.5107 * Cu grade + 0.0119 * 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, a certified 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 + 1.5628*Cu +0.0128 *Ag, for J Pit AuEq = Au + 1.5107*Cu +0.0119 *Ag, for SW Pit AuEq = Au + 1.6823*Cu +0.0124 *Ag, for X22 Pit AuEq = Au + 1.5628*Cu +0.0128 *Ag. AuEq was calculated using metal prices of $1,850/oz Au; $4.25/lb Cu and $23.00/oz Ag.

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 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.

For more information:

Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com 

Cautionary Note Regarding Forward-Looking Statements and Information

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the drill results on the Company, their potential impact on mineral resource and reseve estimates and open pit and underground development scenarios at West Rimand the likelihood that these results will contribute to the expansion of a meaningful near-mine zone within the broader Troilus Project, the results of the FS, including, without limitation various project economics, financial and operational parameters such as the timing and amount of future production from the Project, expectations with respect to the IRR, NPV, payback and costs of the Project, anticipated mining and processing methods of the Project; proposed infrastructures, anticipated mine life of the Project, expected recoveries and grades, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the development potential and timetable of the project; the estimation of mineral resources and reserves; realization of mineral resource and reserve estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities, the timing and amount of estimated future exploration; and the anticipated results of the Company’s remaining 2026 drill program and their possible impact on the potential size of the mineral resource estimate. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company’s latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company’s profile at www.sedarplus.ca. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6082277b-4134-4219-8751-39582e40362b

Figure 1

Plan map with the reported drill hole locations

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