Troy Minerals Inc. announced results from the final two drill holes completed in Fall of 2023 at the Lac Jacques rare earth element (REE) property. The 100% owned Lac Jacques property is located approximately 250km north of Montreal Quebec, Canada and approximately 40km northeast of the town of St. Anne du Lac.

Highlights: Hole LJ-23-03 intersected 2526.1 ppm TREO over 2.90 metres (m) from 53.0m -55.9m including 3627.9 ppm TREO over 0.9m. Hole LJ-23-04 intersected 1495.9 ppm TREO over 5.40m from 54.6m - 60.0m, including 3274.7 ppm TREO over 1.40m and 1615.3 ppm TREO over 4.40m from 72.6m -77.0m including 3107.9 ppm TREO over 1.00 metres. Drilling encountered multiple samples of anomalous REE concentrations near surface.

Results extended the mineralization to the southeast of structures intersected in previous 2 drill holes suggesting the presence of multiple mineralizing events in the area and potentially larger mineralized footprint. Four drill holes were completed during the 2023 drill program. The program was intended to test below and along strike of the discovery trench.

Drill holes LJ-23-03 and LJ-23-04 were drilled 100 metres east along strike of drill holes LJ-23-01 and -02 (Figure 2). Drilling intersected numerous narrow anomalous rare earth (>1000 ppm TREO+Y2O) mineralization associated with pegmatitic granite and syenite (Figure 3) in the upper 60 metres of LJ-23-03 and upper 80 metres of LJ-23-04. Significant intersections in LJ-23-03 included 2526.1 ppm TREO over 2.90 metres (53.0-55.9 metres), including 3627.9 ppm TREO over 0.9 metres.

In LJ-23-04, significant intersections included 1495.9 ppm TREO over 5.40 metres (54.6-60.0 metres), including 3274.7 ppm TREO over 1.40 metres and 1615.3 ppm TREO over 4.40 metres (72.6-77.0 metres) including 3107.9 ppm TREO over 1.00 metres. Drill hole LJ-23-04 intersected a 32.30 metre section (80.50-112.30 metres) of gabbro (70-80%) with small dykes, or xenoliths, of pegmatitic syenite (20-30%). A zone of weakly anomalous TREO (850 ppm over 7.00m) occurs here and based on whole rock and geological logging, is related to the syenite, not the gabbro.

A comparable zone is present in LJ-23-03 between 108.4 and 115.70 metres with a mix of gabbro, syenite and possibly andesite and a concentration of 892 ppm TREO over 7.30m). This latter zone is approximately the same elevation as in LJ-23-04, implying a flat-lying mineralization in section. This may be misleading as the gabbro unit is much narrowed in hole LJ-23-03 and it suggests some lithological complexity such as anastomosing syenite dykes between the two drill holes, Broadly, the ratio of LREO:HREO exhibits a distinct pattern with an overall enrichment (>10) of LREO in the upper half of the drill holes, above the gabbros, then decreasing to a much lower (<10) LREO:HREO below the gabbros.

Overall grades in these drill holes are less than in drill holes LJ-23-01 and -02. The major fault intersected in these holes was not intersected in the current drilling. Based on the projected orientation of the fault, drill holes LJ-23-03 and -04 are further south and east of the fault.

PETROGRAPHIC ANALYSIS: The Company received the final report of the petrographic analysis of 16 core samples from drill holes LJ-23-01 and LJ-23-02. Analysis was performed by IOS Services Geoscientifiques Inc. of Saguenay, QC. The objective of the analysis was to identify mineral assemblages and provide modal proportions of the minerals and chemistry.

A variety of REE-bearing minerals were identified, including allanite, fergusonite, monazite and unidentified REE-carbonates. Allanite is the principal REE-bearing mineral, with other sources comprising only very small modal percentages of the examined sample.