Mr. Chris Huggins reports

TROUBADOUR RESOURCES HIGHLIGHTS MAJOR 2024 CORPORATE MILESTONES, SUCCESSFULLY CLOSING ITS NON-BROKERED PRIVATE PLACEMENT AND RAISING $4.455M IN QUARTER

Troubadour Resources Inc. has achieved several significant milestones throughout 2024, aligned with its focus to unlock shareholder value through accretive acquisitions and being strategic and responsible with the company's treasury.

In the spring of 2024, Troubadour made the decision to change its leadership, appointing Chris Huggins as chief executive officer, and Navin Kumar Varshney as chairman of the board. Mr. Huggins and Mr. Varshney brought a wealth of experience to the company, with significant success in raising capital and acquiring quality assets.

The company then embarked on executing its vision, rebranding itself as a gold-and-copper-focused metal company in the mineral-rich Abitibi greenstone belt centred around the Senneville copper-gold VMS (volcanogenic massive sulphide) project. Located in the heart of the prolific Val d'Or mining camp, the Senneville project comprises over 100 square kilometres of prospective claims that are contiguous in the south to Probe Metals' Novador project, host to the 2.04-million-ounce Monique Resource grading 1.42 grams per tonne gold and in the north to Monarch Mining's Beaufor mine, which has produced over 1.1 million ounces gold.

Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the company's properties.

Over the past four months, Troubadour has executed its financing goals by bringing on strategic investors, high-value partners and shareholders, raising $4,455,000, which finances the entire work requirement under the Senneville option. With the option payments complete, the company anticipates completing an aggressive work program over the next six months, including its maiden drill program across an 11.5-kilometre-long VMS target to earn 100 per cent of the project.

Mr. Huggins, chief executive officer of Troubadour, commented: "I am excited for this year as our company is financially strong and has great assets, particularly with us securing the prospective Senneville copper-gold VMS project. With $4,455,000 raised since the acquisition of our new flagship project, we are excited to embark on aggressive program for the rest of 2024 as we work to secure 100 per cent of this world-class project, located in the heart of the prolific Val d'Or mining camp. The metals business looks promising, especially with potential supply shortages, highlighting the importance of our projects in Quebec's globally recognized mineral-rich greenstone belt. We look forward to sharing further updates in the coming weeks and months as we work towards making Quebec's next major copper discovery. "

Mr. Varshney, chairman of the board of directors, commented: "I am thrilled with the transformation of Troubadour under Chris's direction. Chris has built a new technical team, new shareholder base and really energized the company since he has taken over, growing our market cap by over four times since his appointment as CEO. Armed with a strong treasury, I look forward to helping him develop our asset in the renowned Abitibi greenstone belt as he works to deliver the next generation of gold and copper assets in Quebec. Chris's leadership has positioned the company to carry out its exploration plan in 2024 confidently. It is early days, but I believe the growth potential here is exceptional. I am very excited to support a mining entrepreneur of Chris's calibre as he builds Troubadour into the next major Canadian metals exploration company."

The company is also pleased to announce that it has elected to not proceed with any further issuances under the non-brokered flow-through private placement, which was recently completed on Aug. 7, 2024, raising gross proceeds of $903,999.60 through the issuance of 4,304,760 flow-through shares at 21 cents per flow-through share. Each flow-through share was issued as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada) and as defined in Section 359.1 of the Quebec Tax Act with respect to purchasers in Quebec. The flow-through private placement followed the company's successful closing of a $3.5-million financing on June 19, 2024.

The company is also pleased to announce that it has entered into an arm's-length share exchange agreement, dated Sept. 10, 2024, to acquire all of the issued and outstanding shares of Greenflame Metals Inc. Greenflame owns a 100-per-cent interest in and to 76 mineral claims totalling 4,161 hectares that are contiguous to the company's Senneville project, located in the eastern part of the Abitibi greenstone belt, about 25 kilometres northeast of the gold mining centre of Val d'Or, Que.

Pursuant to the agreement, the company will issue an aggregate of 10 million common shares in the capital of the company to the current shareholders of Greenflame on closing. Completion of the acquisition is subject to the satisfaction of customary conditions precedent, including approval of the TSX Venture Exchange.

Qualified person

The technical content of this news release has been reviewed and approved by Deepak Varshney, PGeo, a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionors were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts.

About Troubadour Resources Inc.

Troubadour Resources is a North American mineral acquisition and exploration company focused on the development of quality critical mineral and precious metal properties that are drill ready with high upside and expansion potential. Based in Vancouver, B.C., Troubadour trades on the TSX-V under the symbol TR and on the OTCPK exchange under the symbol TROUF.

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