Mr. Justin Reid reports

TROILUS WELCOMES QUÉBEC GOVERNMENT LEADERS TO ITS SITE FOR OFFICIAL ANNOUNCEMENT OF 70 MW HYDROELECTRIC POWER ALLOCATION

Troilus Mining Corp. recently welcomed representatives from the government of Quebec to the Troilus copper-gold project in north-central Quebec for the official announcement of the allocation of 70 megawatts (MW) of hydroelectric power to the project (see June 2, 2026, press release).

The announcement, held at the Troilus project site on June 8, 2026, was made by Bernard Drainville, Minister of Economy, Innovation and Energy (MEIE), and Kateri Champagne Jourdain, Minister of Natural Resources and Forests (MRNF), alongside Denis Lamothe, member of the National Assembly for Ungava. The event also brought together representatives from Hydro-Quebec, members of the Cree community, regional stakeholders, municipal representatives including Nichele Compartino, Mayor of Chibougamau, and members of the media.

During the announcement, Minister Drainville and Minister Champagne Jourdain highlighted the role of projects such as Troilus in supporting Quebec's critical minerals strategy, regional economic development priorities and long-term energy transition objectives at a time of growing global demand for copper. Mr. Lamothe also spoke to the importance of the project for Northern Quebec and recognized Troilus's continuing commitment to creating long-term opportunities for regional workers, businesses and communities.

Justin Reid, chief executive officer of Troilus, commented: "It was a pleasure to welcome Minister Drainville, Minister Champagne Jourdain, Mr. Lamothe, representatives from Hydro-Quebec, our Cree partners, regional stakeholders and members of the media to the Troilus project for this important announcement.

"We would also like to congratulate Hydro-Quebec and the government of Quebec on yesterday's announcement regarding the development of new training infrastructure in Chibougamau, which further reflects the long-term commitment being made toward economic development, work force development and sustainable growth in Northern Quebec.

"Access to reliable, low-carbon hydroelectric power is fundamental to the responsible development of large-scale mining projects in Northern Quebec, and the allocation of 70 MW marks a significant step forward as we continue advancing permitting, engineering, financing and overall project readiness activities. As one of Quebec's largest copper-gold development projects, Troilus has the potential to become an important long-term contributor to the province's economy and critical minerals strategy. We look forward to continuing to build on the strong partnerships that have helped bring the project to this stage."

The allocation of 70 MW of clean hydroelectric power supports the future construction and operation of the Troilus project, which is expected to create approximately 1,000 jobs during construction and approximately 680 long-term jobs during operations in the Eeyou Istchee James Bay region. At current mine plan levels, the project is also expected to generate significant long-term economic benefits and tax revenues for Quebec over its multidecade operating life.

Advancement of project financing and technical due diligence activities

The official announcement follows a period of significant activity at the Troilus project as the company continues advancing multiple development workstreams in parallel.

In recent weeks, Troilus hosted representatives from international financial institutions and export credit agencies from Canada, Germany, Finland, Denmark, Sweden, France and the United States at the project site as part of continuing technical, environmental, operational and project financing due diligence activities associated with the company's previously announced $1.2-billion (U.S.) debt financing mandate.

The site visits included reviews of continuing engineering, infrastructure, environmental, permitting and development readiness activities, and represent an important component of the project evaluation process as Troilus advances toward a fully financed construction decision.

Troilus continues to make progress across financing, permitting, engineering and overall project readiness initiatives as it advances toward construction.

About Troilus Mining Corp.

Troilus Mining is a Canadian development-stage mining company focused on the responsible advancement of the former gold and copper Troilus mine toward near-term production. Troilus is located in the Tier 1 mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 square kilometres in the Frotet-Evans greenstone belt. A feasibility study completed in May, 2024, supports a large-scale 22-year, 50,000-tonne-per-day open-pit mining operation, positioning it as a cornerstone project in North America.

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