Mr. Rana Vig reportrs

TROY MINERALS ACHIEVES KEY MILESTONE TOWARD OPERATIONAL MINING LICENSE FOR ITS TSAGAAN ZALAA SILICA PROJECT, MONGOLIA

Troy Minerals Inc.'s subsidiary, Grand Samsara Consulting LLC, has successfully completed a key regulatory milestone in Mongolia -- the official registration of its Tsagaan Zalaa silica project in Dornogovi province with the Mineral Resources and Petroleum Authority of the Ministry of Industry and Natural Resources of Mongolia. This registration represents the most critical step in the multistage process leading to the issuance of an operational mining licence.

The Tsagaan Zalaa project is located in Saikhandulaan soum, Dornogovi province, in southeastern Mongolia. It is connected with a road to Sainshand, capital of the Dornogovi province in the Eastern Gobi steppe, approximately 95 kilometres to the east, located along the Trans-Mongolian Highway and Railway connecting Mongolia's capital city of Ulaanbaatar with China. Sainshand is 200 kilometres from the Chinese border and serves as the local depot for silica and other mineral exports to China. Tsagaan Zalaa is also situated only 18 kilometres from the local community of Saikhandulaan soum and covers an area of 1,670.28 hectares. The project is strategically positioned to serve the growing regional demand for high-purity quartz silica (HPQ). Massive high-purity quartz veins up to five metres in width hosted by Upper-Middle Devonian sediments are exposed on surface across the project. In February, 2025, the company announced the submission of the mining licence application, with today's achievement marking the decisive regulatory confirmation needed to advance the project toward the final operating approval.

"To receive a mine operating licence is a complex process, not only in Mongolia but all over the world, but the official approval of a mining licence application by the Mongolian ministerial authorities is the most important step in this. It represents a key milestone which underscores the company's commitment to advancing Tsagaan Zalaa towards production and transforming Troy into a cash-flowing entity," commented Yannis Tsitos, president of Troy Minerals. "We expect to complete the subsequent administrative steps, as outlined below, in the coming weeks and we target a full mine operating licence by the end of Q4 2025 to Q1 2026."

With its application referenced above, Grand Samsara provided to the authorities all historical and current technical, environmental, hydrogeological, community and archaeological data, studies, and reports. Based on Mongolian authorities' appointed independent experts opinion regarding the geological resources and the opinions of the established 15 council members, the meeting of the Mineral Resources Professional Council of the Ministry of Industry and Mineral Resources and the Ministry of Mineral Resources and Petroleum Authority decided to grant to Grand Samsara a mining licence in regard to HPQ mining activities.

Next steps

Grand Samsara is currently working in Mongolia on subsequent steps to conclude several administrative tasks and receive a mine operating licence. Several steps already been completed, others to be concluded before December, 2025. They include detailed technical and economic studies for the utilization and export of the mineral resources, a detailed environmental impact assessment study, a local government agreement that includes an appropriate corporate social responsibility (CSR) plan, a blasting permit application, and land quality assurance plans. At the same time, Troy has commenced HPQ product offtake discussions that include metallurgical sampling by independent Chinese clients at their own laboratories. Following discussions with the relevant authorities, Troy is targeting a complete mine operating licence before the end of 2025 or by early 2026 at the latest*.

* Any production decision in advance of obtaining a National Instrument 43-101-compliant feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure.

Qualified person

Technical information in this news release has been reviewed and approved by Case Lewis, PGeo, a qualified person as defined under NI 43-101 -- Standards of Disclosure for Mineral Projects and a director of the Table Mountain project vendor.

About Troy Minerals Inc.

Troy Minerals is a Canadian-based publicly listed mining company focused on building shareholder value through acquisition, exploration and development of strategically located critical mineral assets. Troy is aggressively advancing its projects within the silica (silicon), scandium, vanadium and rare-earths industries within regions that exhibit high and growing demand for such commodities, in both North America (through the Table Mountain, the Lake Owen and the St. Jaques projects) and central-east Asia (through the Tsagaan Zalaa project). The company's primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to deliver tangible monetary value to shareholders, state and local communities.

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