Troilus Announces Key Leadership Appointment and Provides Operational Update
Troilus Gold Corp. announces the appointment of Andy Fortin as Vice President of Operations and General Manager of the Troilus Mine. Fortin brings 28 years of experience, including 12 years at Troilus Mine from 1996-2008. The company reports significant operational progress, including dewatering operations that have removed over 2 million cubic metres of water from the J4 pit. The company has secured Letters of Intent totaling US$1.3 billion from multiple Export Credit Agencies. The Environmental and Social Impact Assessment is advancing, with final community consultations completed and submission planned for early Q1 2025.
Troilus Gold Corp. annuncia la nomina di Andy Fortin come Vicepresidente delle Operazioni e Direttore Generale della Miniera di Troilus. Fortin porta con sé 28 anni di esperienza, compresi 12 anni presso la Miniera di Troilus dal 1996 al 2008. L'azienda riporta progressi operativi significativi, incluse le operazioni di pompaggio che hanno rimosso oltre 2 milioni di metri cubi d'acqua dal pozzo J4. L'azienda ha ottenuto Lettere di Intento per un totale di 1,3 miliardi di dollari USA da più Agenzie di Credito all'Esportazione. La Valutazione dell'Impatto Ambientale e Sociale sta avanzando, con le consultazioni finali con la comunità completate e la presentazione prevista per all'inizio del primo trimestre del 2025.
Troilus Gold Corp. anuncia el nombramiento de Andy Fortin como Vicepresidente de Operaciones y Gerente General de la Mina Troilus. Fortin trae consigo 28 años de experiencia, incluidos 12 años en la Mina Troilus desde 1996 hasta 2008. La empresa informa de avances operativos significativos, incluidas las operaciones de desagüe que han eliminado más de 2 millones de metros cúbicos de agua del pozo J4. La empresa ha asegurado Cartas de Intención por un total de 1,3 mil millones de dólares estadounidenses de varias Agencias de Crédito a la Exportación. La Evaluación de Impacto Ambiental y Social está avanzando, con las consultas finales a la comunidad completadas y la presentación planificada para principios del primer trimestre de 2025.
트로일러스 골드 코프(Troilus Gold Corp.)는 앤디 포르틴(Andy Fortin)을 운영 부사장 겸 트로일러스 광산의 총괄 관리자(Vice President of Operations and General Manager)로 임명한다고 발표했습니다. 포르틴은 28년의 경험을 가지고 있으며, 그 중 1996년부터 2008년까지 트로일러스 광산에서 12년을 보냈습니다. 회사는 J4 갱에서 200만 입방미터 이상의 물을 제거하는 배수 작업을 포함하여 상당한 운영 성과를 보고했습니다. 이 회사는 여러 수출 신용 기관으로부터 총 13억 달러의 의향서를 확보했습니다. 환경 및 사회적 영향 평가가 진행 중이며, 최종 지역 사회 협의가 완료되었고 2025년 1분기 초에 제출할 계획입니다.
Troilus Gold Corp. annonce la nomination de Andy Fortin au poste de Vice-président des opérations et directeur général de la mine de Troilus. Fortin apporte 28 ans d'expérience, dont 12 ans à la mine de Troilus de 1996 à 2008. La société rapporte des progrès opérationnels significatifs, y compris des opérations d'assainissement qui ont éliminé plus de 2 millions de mètres cubes d'eau de la fosse J4. La société a obtenu des lettres d'intention totalisant 1,3 milliard de dollars américains de plusieurs agences de crédit à l'exportation. L'évaluation des impacts environnementaux et sociaux est en cours, avec des consultations communautaires finales terminées et une soumission prévue pour le début du premier trimestre de 2025.
Die Troilus Gold Corp. gibt die Ernennung von Andy Fortin zum Vice President of Operations und General Manager der Troilus Mine bekannt. Fortin bringt 28 Jahre Erfahrung mit, darunter 12 Jahre in der Troilus Mine von 1996 bis 2008. Das Unternehmen berichtet über bedeutende betriebliche Fortschritte, einschließlich der Entwässerungsarbeiten, die über 2 Millionen Kubikmeter Wasser aus der J4-Grube entfernt haben. Das Unternehmen hat Absichtserklärungen in Höhe von insgesamt 1,3 Milliarden US-Dollar von mehreren Exportkreditagenturen gesichert. Die Umwelt- und Sozialverträglichkeitsprüfung schreitet voran, wobei die endgültigen Gemeindekonsultationen abgeschlossen sind und die Einreichung für Anfang Q1 2025 geplant ist.
- Secured US$1.3 billion in Letters of Intent from Export Credit Agencies
- Successfully removed over 2 million cubic metres of water from J4 pit
- Appointed experienced executive with prior site knowledge as VP Operations
- None.
MONTREAL, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF; FSE: CM5R) is pleased to report the appointment of Mr. Andy Fortin as Vice President of Operations and General Manager of the Troilus Mine, effective immediately, to oversee the transition of the Troilus Project into the development phase and eventual operations. The Company is also pleased to provide an update on operational progress, including advancements in the pit dewatering program and the status of the Environmental and Social Impact Assessment (“ESIA”).
Appointment of Andy Fortin as Vice President, Operations and General Manager of Troilus Mine
Troilus is pleased to welcome Andy Fortin as Vice President of Operations and General Manager of the Troilus Mine, effective immediately. Mr. Fortin brings over 28 years of experience in mineral processing and project management, including a notable tenure at the Troilus Mine during its 14-year operation by Inmet Mining.
During his 12-year tenure at the Troilus Mine from 1996-2008, Mr. Fortin held key positions during the project’s construction and operational phases, including Chief Metallurgist and Process & Maintenance Plant Manager. He led initiatives such as the mill expansion from 10,000 to 20,000 tpd and the implementation of an advanced control system to optimize throughput. His familiarity with the Troilus site, combined with expertise in feasibility studies, construction, operational optimization, and metallurgical processes, will be instrumental as the project advances toward development.
Beyond his experience at Troilus, Mr. Fortin served as the Process & Surface Operation Manager at Goldcorp’s Éléonore Mine and as Process Plant Manager at Agnico Eagle’s Meadowbank Mine, where he was recognized with awards for operational excellence and sustainability initiatives. Mr. Fortin’s strong operational background includes implementing best practices in health, safety, and environmental stewardship, all of which will be invaluable as Troilus advances toward development and construction.
Justin Reid, CEO of Troilus, commented, “We are very pleased to welcome Andy to the Troilus team as we approach a pivotal stage of development. His extensive experience in mineral processing and project management, along with his strong familiarity with the Troilus site, make him an ideal addition as we prepare for production. Andy has consistently demonstrated a commitment to operational excellence and sustainability, building high-performing teams and optimizing mining operations across diverse projects. We’re confident his leadership will be instrumental in executing our strategy to advance Troilus as a cornerstone copper-gold project in North America.”
Operational Update
Troilus has made substantial progress in its dewatering operations. As announced on August 18, 2024, three 140Hp pumps are currently dewatering the J4 pit, while dewatering of the larger Z87 pit is set to commence in 2025. Over 2 million cubic metres of water have been pumped out of the formerly mined J4 pit to date (see Figure 1). The Company has been collaborating with local land users to closely monitor the redirected water and ensure safe environmental integration.
In November 2024, the Company reached major milestones in its Project financing strategy with the receipt of Letters of Intent (“LOI”) from multiple leading global Export Credit Agencies (“ECA”), representing in-principle support totaling US
The Environmental and Social Impact Assessment (ESIA) for the Troilus Project is progressing well. Troilus recently completed the final community consultations with the impacted Jamesian and Cree communities. The Company is now finalizing the remaining sections of the report and aims to submit the ESIA for Troilus to the Quebec ministry of environment (Ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs - MELCCFP) in early Q1 2025. 
Figure 1. J4 Pit Dewatering Progress
About Troilus Gold Corp.
Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com
Cautionary Note Regarding Forward-Looking Statements and Information
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the appointment on the Company, the timing and impact of the dewatering and ESIA, statements regarding the non-binding nature of the LOI and the likelihood that binding funding commitments will follow on the timeline projected or at all, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the development potential and timetable of the project; the estimation of mineral resources and reserves; realization of mineral resource and reserve estimates; the timing and amount of estimated future exploration; 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, the timing and amount of estimated future exploration; and the anticipated results of the Company’s 2024 drill program and their possible impact on the potential size of the mineral resource estimate. 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”, “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: 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 and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; 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 Company’s latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company’s profile at www.sedarplus.ca. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ba7c4ec-5c2b-4599-96bf-051b90ce1851
FAQ
What is the total value of Export Credit Agency Letters of Intent received by Troilus Gold (CHXMF)?
When will Troilus Gold (CHXMF) submit its Environmental and Social Impact Assessment?
How much water has been removed from the J4 pit by Troilus Gold (CHXMF)?
