Mr. Justin Reid reports

TROILUS ANNOUNCES FINNVERA LOI FOR UP TO APPROXIMATELY US$132 MILLION IN POTENTIAL EXPORT CREDIT SUPPORT RELATED TO METSO EQUIPMENT PROCUREMENT

Troilus Mining Corp. has signed a non-binding letter of interest (LOI) from Finnvera PLC, Finland's official export credit agency, has been issued in connection with the Metso Corp. equipment procurement recently announced for the gold-copper Troilus project in north-central Quebec (see press release dated Aug. 25, 2026).

The Finnvera LOI with Metso relates to an estimated $155-million (U.S.) export transaction involving Metso equipment and services for the project. Under the contemplated structure, Finnvera may support financing of up to 85 per cent of the value of eligible goods and services imported into Canada, representing up to approximately $132-million (U.S.) based on the estimated transaction value.

The financing would be provided by an eligible commercial bank with Finnvera support, providing another potential source of competitive long-term financing as Troilus advances major equipment procurement and construction readiness.

Further Strengthening Troilus's international financing framework

The Finnvera LOI complements Troilus' broader project financing strategy and builds on Finnvera's existing participation as an export credit agency in the company's project financing process.

Troilus is currently advancing a senior secured project financing mandate of up to $1.2-billion (U.S.) with Societe Generale, KfW IPEX-Bank and Export Development Canada as mandated lead arrangers, alongside support from leading Canadian and European export credit agencies, including Finnvera (see press release dated May 5, 2026).

The potential support related to the Metso procurement further demonstrates the alignment between Troilus's procurement and financing strategies as the project advances toward construction. By working with leading international equipment suppliers and export credit agencies in parallel, Troilus continues to develop a diversified and competitive financing framework designed to support construction of the project.

Justin Reid, chief executive officer and director of Troilus, commented: "The Finnvera LOI adds a positive dimension to the Metso procurement and represents an important advancement in our broader project financing strategy. The potential for up to approximately $132-million (U.S.) in export credit support provides another attractive financing avenue as we continue advancing Troilus toward construction. Finnvera is already participating in our broader project financing process, and we are very pleased to see the potential scope of that relationship expand alongside our advancing procurement program. This demonstrates how our procurement and financing strategies are increasingly working together and further strengthens the diversified international financing framework we are building for Troilus."

Metso equipment procurement

On Aug. 25, 2026, Troilus announced the selection of Finland-based Metso, a leading global provider of mineral processing technologies and services, for the first phase of major process equipment procurement for the project. The award includes gyratory and cone crushers, apron and belt feeders, wet and dry screens, high-pressure grinding rolls (HPGRs), and ball mills.

Metso has already been integrated into Troilus's detailed engineering program, with technical workshops under way to advance equipment interfaces, plant layout, 3-D modelling and construction planning.

The Finnvera LOI provides an additional potential financing avenue associated with this advancing equipment procurement program and further supports Troilus's systematic progression toward construction.

The Finnvera LOI is non-binding and subject to customary due diligence and final approvals.

About Troilus Mining Corp.

Troilus Mining is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus mine toward 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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