Mr. Kieran Downes reports

TROYMET UPDATES PROJECTS

Troymet Exploration Corp. is providing progress on its exploration projects. Troymet operates the Redhill and Golden Eagle projects in British Columbia, and the Wildcat project located in Utah. Hudbay Minerals Inc. operates the McClarty Lake VMS (volcanogenic massive sulphide) project in Manitoba (Hudbay 60 per cent; Troymet 40 per cent).

Troymet plans drilling programs on the Redhill and Wildcat projects. Both are considered to have high discovery potential.

Troymet is fully financed ($1-million plus) for its proposed drill programs on the Redhill and Wildcat projects.

Wildcat project (gold-silver)

An application for a permit to conduct a 2016 drill program on the Wildcat project was submitted to the state of Utah and the Bureau of Land Management in January, 2016. Troymet is awaiting approval of the permit. Planning for a drill program is well advanced.

Troymet's 2015 field program successfully identified numerous prospective structural drill targets along the Joy fault and in crosscutting structures. The company has documented exploration progress on the Wildcat project in a series of news releases issued between Nov. 10, 2015, and Feb. 17, 2016. The news releases can be found on the company's website.

Troymet's exploration focus is gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits along the Joy fault, and in structural/stratigraphic hosts in Cambrian carbonate rocks.

Redhill project (copper-gold-zinc-silver VMS)

Troymet has received a B.C. Mines Act multiyear permit for its proposed 2016 diamond drilling and geophysical program on the Alpha and Beta zones. The company's 2015 field program identified several VMS targets associated with interflow horizons within a stacked sequence of felsic volcanics. The undrilled targets have associated electromagnetic (EM) conductors, and copper- and zinc-in-soil anomalies.

Troymet's reassay of an intersection in a historic drill hole (DDH RH06-25) returned 8.75 per cent copper, 4.75 per cent zinc, 1.22 grams per tonne gold and 61.19 grams per tonne silver over 2.04 metres. This intersection, which remains unbracketed, confirms the prospectivity of the undrilled VMS targets.

In addition, a new 1,000-metre-plus trend of elevated to anomalous gold-in-soil values was identified.

Troymet plans a reconnaissance, induced polarization survey over the strongest EM anomalies, the high-grade intersection in hole RH06-25 and the new 1,000-metre-plus gold soil anomaly to help in targeting prior to drilling.

Troymet has documented exploration progress on the Redhill project in a series of news releases issued between Sept. 2, 2015, and Dec. 1, 2015. The news releases can be found on the company's website.

Golden eagle project (gold-silver)

Troymet is continuing to monitor the potential to develop a significant and shallow gold-silver resource in the Skarn prospect, especially at this time of rising gold prices. Historic drilling in 1990 and 1997 was limited to an area 265 metres long and intersections ranged from 2.12 grams per tonne Au over 9.9 metres to 7.64 grams per tonne Au over 3.5 metres. Only visually obvious mineralization was assayed, and no drill core exists today from this drilling. In 2011, Troymet drilled one hole (N11-06) to test the northern limit of the area of historic drilling. The hole collared in mineralization and cut a wide, structurally controlled zone comprising high-grade veining and lower-grade host rock:

• 1.27 grams per tonne Au over 36.45 metres (open), including:
  • 4.13 grams per tonne over 3.5 metres;
  • Six grams per tonne over one metres;
• 4.05 grams per tonne Ag over 15.45 metres (upper part of the gold zone);
• Mineralization outcrops and is open along strike and at depth;
• Untested anomalous soils and rock chips over approximately 1,000 metres.

This intersection demonstrated the potential for high-grade, subcropping, bulk-tonnage gold mineralization that was not recognized in the past. A compilation of the pertinent exploration data can be viewed on-line.

McClarty Lake project (copper-zinc-gold VMS)

As previously announced (news release dated Dec. 15, 2015), Hudbay Mining Inc., the joint venture operator, has advised Troymet that it plans to conduct ground geophysical surveys over newly staked targets once ice conditions permit.

Under the terms of the joint venture agreement, Hudbay must contribute $1,151,052 in joint venture expenditures before Troymet is required to finance its participating interest.

Qualified persons

Kieran Downes, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.

We seek Safe Harbor.