Troilus completes basic engineering, updates NPV5% to $3.2B at $3,600/oz gold

Approximately 95,000 engineering hours and market validation of ~90% of pricing underpin AACE Class 3 estimate accuracy across the full Project scope

MONTREAL, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Troilus Mining Corp. (“Troilus” or the “Company”) ( TSX: TLG; OTCQX: CHXMF; FSE: CM5 ), is pleased to report the results of an updated NI 43-101 Technical Report (the “Technical Report”) for the gold-copper Troilus Project located in northcentral Quebec, Canada. Based on the Company’s completed Basic Engineering program, the Technical Report confirms and improves upon the strong economic fundamentals established in the May 2024 Feasibility Study (“2024 FS”), while extending the Project’s mine life, strengthening its gold and copper production profile, and incorporating a substantially more advanced level of engineering, design and cost definition.

The Technical Report outlines a large-scale, approximately 26-year mine life with an after-tax NPV5% of $3.2 billion, after-tax IRR of 22% and 3.6-year payback period. Life-of-mine payable production is estimated at 5.63 million ounces of gold, 472 million pounds of copper and 10.88 million ounces of silver, reinforcing Troilus’ position as one of Canada’s largest undeveloped gold-copper projects.

Importantly, the updated capital estimate has been developed following completion of Basic Engineering, representing approximately 95,000 engineering hours and C$21.3 million in engineering fees. Approximately 90% of the pricing inputs have been validated against current market quotations, including firm pricing for key equipment. The resulting estimate meets AACE Class 3 accuracy standards (+15%/-10%) across the full Project scope, providing a substantially more advanced and higher-confidence basis for project financing, procure