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    TLG   CA8968871068

TROILUS GOLD CORP.

(TLG)
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Troilus Gold : October - Corporate Presentation

10/15/2021 | 03:02pm EST

TSX: TLG OTCQX: CHXMF FRA: CM5R

A New Life for a Former Gold

& Copper Mine in Quebec

SCALE

TheA NewTroilus

Project

JURISDICTION

Corporate Presentation

LONG LIFE

Life for a Former Gold & Copper Mine in Quebec

October 2021

CAUTIONARY LANGUAGE, QP STATEMENTS AND LEGAL DISCLAIMERS

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.

The mineral resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. See the Resources Report filed on SEDAR (or the Technical Report, once filed), for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

The Troilus project has not been the subject of a current feasibility study and as such there is no certainty that a potential mine will be realized. There is a significant risk that any production from the project will not be profitable with these risks elevated by the absence of a compliant NI 43 101 feasibility study.

The mineral resource estimate disclosed in this presentation was prepared by Mr. Paul Daigle, géo., Senior Associate Resource Geologist with AGP, and the supporting Technical Report was filed on SEDAR (www.sedar.com) under the Company's issuer profile on August ,28, 2020. Mr. Paul Daigle, who is an independent Qualified Person as defined under NI 43-101, has reviewed and approved the mineral resource estimate disclosed in this presentation.

The technical and scientific information in this presentation has been reviewed and approved by Kyle Frank, Senior Geologist for Troilus, who is a Qualified Person as defined by NI 43-101. Mr. Frank has also verified the technical data contained in this presentation using industry accepted standards. Mr. Frank is an employee of Troilus and is not independent of the Company under NI 43-101.

The PEA was prepared under the direction and supervision of Gord Zurowski, P. Eng Principal Mining Engineer with AGP. The PEA report is available on SEDAR (www.sedar.com) under the Company's issuer profile or on its website, www.troilusgold.com.

This presentation contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, the results of the PEA, statements regarding the impact and implications of the economic statements related to the PEA, such as future projected production, costs, including without limitation, AISC, total cash costs, cash costs per ounce, capital costs and operating costs, statements with respect to Mineral Resource estimates, recovery rates, IRR, NPV, mine life, CAPEX, payback period, sensitivity analysis to gold prices, timing of future studies including the pre-feasibility study, environmental assessments (including the timing of an environmental impact study) and development plans, the Company's understanding of the project; the development potential and timetable of the project; the potential to extend mine life beyond the period contemplated in the PEA, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Quebec and Canada, the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company's planned 2020 drill program and their possible impact on the potential size of the mineral resource estimate; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company's low discovery costs, technical expertise and support from local communities; and the anticipated timing of filing the Technical Report. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",

"estimates", "forecasts", "intends", "contemplates", "goal", "continue", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company's activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the latest annual information form of the Company, in the Resources Report (and the Technical Report to be filed) and in other continuous disclosure documents of the Company available under the Company's profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources

Mineral resource estimates have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in NI 43-101 and recognized by Canadian securities laws but are not defined terms or recognized under U.S. securitiesv laws. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be upgraded to mineral reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies. U.S. investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Accordingly, these mineral resource estimates and related information may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

| 2

TROILUS GOLD CORP. IS GENERATING VALUE BY RESPONSIBLY DEVELOPING THE PAST-PRODUCINGGOLD-COPPER

TROILUS PROJECT

THE LARGEST UNDEVELOPED GOLD DEPOSIT IN QUEBEC, CANADA

ESG Leadership

First mineral exploration company to obtain ECOLOGO certification

Strong Cash Position

CAD$56 million raised in June/July 2021

Located in Top Ranked Mining Jurisdiction

Quebec ranked #6 globally by the Fraser Institute in 2020

Quality Brownfield Project

US$350M of inherited infrastructure; streamlined permitting

Large and Growing Resource

  • 4.96 Moz AuEq (Ind.), plus 3.15 Moz AuEq (Inf.)*
  • Updated mineral resource expected in Q4 2021

Robust PEA; Pre-Feasibility underway

PEA results place Troilus among the top 5 gold producers in Canada today

Experienced & Credible Management

Proven track-record of generating value

| 3

FAST-PACED ADVANCEMENT SINCE ACQUISITION

Delivering on our vision to become Quebec's next multi-decadegold-copper producer

2017-2021:

UNLOCKING VALUE & DE-RISKING

20172018

EXPLORATION SUCCESS:Disciplined exploration (+150,000m), translating to significant mineral growth and evidence of a district scale, generational asset.

ROBUST ENGINEERING:Initial drilling to robust PEA in under 2 yrs. Inaugural Reserve and Pre-Feasibility underway, targeting a long-lifeopen-pit mine producing +220,000oz AuEq/yr.*

LEADERSHIP TEAM:Assembled an experience and proven team to build the Troilus mine

STAGE of DEVELOPMENT:Federal permitting process initiates in Q4 2021

2019

2020

2021

2022

Acquisition of

Brownfield Troilus

Project in Dec. 2017

(From 1996-2010, the Troilus Mine produced +2Moz of gold and ~70,000t of copper)

TSX Listing Drilling initiated

Pre-Development Agreement Signed with Cree Nation

Mineral Resources increase 85%

Significant

Southwest expansion

Acquired UrbanGold

expansion of

Resources increase by

Appointed industry

J Zone & Z87 South

another 20%

veteran as COO

Resources increase

Robust PEA

~10,000m of

by another 27%

Successful regional

drilling/month

Discovery & initial

exploration on expanded

UPCOMING:

drilling of Southwest

property

Zone

Initiate Federal

Dewatering permit

permitting process

(Z87 & J4 pits)

Inaugural Reserve

Pre-Feasibility Study (Q1)

Initiate Provincial

Permitting Process

Feasibility Study (H2)

Construction decision by end of year

| 4

*Please see cautionary notes related to the PEA on p.2

LEADERSHIP TEAM IN PLACE TO ADVANCE TROILUS MINE RESTART

Experienced Engineering

Team, includes:

- Most recently oversaw the engineering and pre- development of the $1.7 billion Odyssey Project for Canadian Malartic from conception through to the current construction.

  • Former Mining Director at Premier Gold Mines where he led the Feasibility Study for the Greenstone open pit project
  • He also held a number of positions with Agnico Eagle including Engineering Superintendent at Goldex Mine in Val d'Or, Project Evaluation Engineer at CTMN and Underground Mine Manager at the Kittila Mine in Finland.
  • Metallurgical engineer with +20 yrs of experience
  • Formerly held senior positions at Goldcorp, Mason Graphite, and BlackRock Metals where she was responsible for exploration permits, environmental assessment processes and construction permits.

Management Team

Justin Reid, President & CEO, Director

Richard Harrisson, COO

Denis Arsenault, CFO/SVP Qc.

Blake Hylands, SVP Exploration & Corp. Development Ian Pritchard, SVP Technical Services Jacqueline Leroux, VP Environment & Permitting Catherine Stretch, VP Corporate Affairs

Brianna Davies, VP Legal & Corporate Secretary Caroline Arsenault, VP Corporate Communications Daniel Bergeron, VP Quebec Operations

John Matoush, Community Liaison Mistissini Kyle Frank, Senior Geologist

Board of Directors

Diane Lai, ICD.D, MBA - Chairperson

Seasoned executive and entrepreneur with +20 yrs of global marketing experience

Andrew Mark Cheatle, P.Geo. FGS, MBA

30 yrs of international mining experience; consulting Geologist; former CEO of PDAC

Jamie Horvat, M.Sc.

+20 yrs of experience in asset management, particularly resources and precious metals

Hon. Pierre Pettigrew, p.c.

Former Minister of Foreign Affairs to three Prime Ministers; current Executive Advisor at Deloitte

Dr. John Hadjigeorgiou, PhD, P.Eng, FCIM, ICD.D

Pierre Lassonde Chair in Mining Engineering at UofT; consultant to many major mining companies

Dr. Eric Lamontagne, Eng.PhD.

Former Superintendent of the Troilus mine; GM Greenstone JV (Equinox Gold/Orion)

Thomas Olesinski, CPA, CMA

20 years of finance and management experience; former forensic accountant

Justin Reid, M.Sc., MBA

Geologist and capital markets executive with +20 yrs of experience in the mineral resource space

| 5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Troilus Gold Corporation published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 19:01:07 UTC.


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Capitalization 143 M 112 M 112 M
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Number of Analysts 4
Last Close Price 0,73 CAD
Average target price 3,83 CAD
Spread / Average Target 424%
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C. Justin Reid President, Chief Executive Officer & Director
Denis C. Arsenault Chief Financial Officer & Senior VP-Quebec
Diane Lai Chairman
Ian Pritchard Senior Vice President-Technical Services
Richard Harrisson Chief Operating Officer
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