Troilus Presents Its 2021 Sustainability Report

MONTREAL, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) (“Troilus” or the “Company”), reports that it has published its 2021 Sustainability Report (“the Report”), highlighting Environmental, Social and Governance (“ESG”) initiatives, activities, and achievements over the 2021 calendar year. The report details Troilus’ commitment to operating every facet of the company in a transparent and sustainable manner, pursuing superior corporate governance, and positively impacting our communities and the environment, while generating long-term value for its stakeholders and shareholders. Highlights are presented below, while the complete report can be found on the Company’s website at www.troilusgold.com in the Sustainability section.

Highlights of the 2021 Sustainability Report include:

• Strength in Gender Diversity – ~36% of full-time employees and 40% of the Senior Management Team at Troilus were female, surpassing mining industry standards.
• Access to a Vital Source of Renewable Energy – 71% of energy used at the Troilus site is derived from renewable hydroelectricity with existing infrastructure that will help power contemplated future production while minimizing GHG emissions and carbon footprint.
• Prioritizing Local Business – 65% of Troilus’ total procurement spending went to suppliers from the local economy in Northern Quebec, making Troilus an important economic contributor to the region.
• A Safe Place to Work – Zero fatalities and zero work-related injuries resulting in lost time among employees and contractors at site.
• Environmental Stewardship: Troilus had zero instances of non-compliance with environmental regulations.

Justin Reid, CEO and Director of Troilus, commented, “We are pleased to share the positive progress of our ESG program as we continued to advance the Troilus project responsibly and upholding the highest standards when it comes to our corporate governance, our people, our communities, and the environment. I’m very proud of our team’s accomplishments in 2021, and we will strive to continue leading the way with ESG initiatives and performance among our exploration and development-stage peers.”

Troilus implemented its Sustainability Policy in 2020 to deliver on its objective of creating value for shareholders while ensuring the responsible development of the project. The Company aims to operate in a safe, socially, and environmentally responsible manner, contribute to the prosperity of employees and local communities and respect the human rights, cultures, customs, and values of those impacted by the Company’s activities. The Sustainability Policy is based on the four pillars of People, Environment, Health & Safety and Communities, ensuring sustainable practices remain at the core of Troilus’ business strategy.

To learn more about Sustainability initiatives at Troilus, please visit https://www.troilusgold.com/sustainability/overview/.

About Troilus Gold Corp.

Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus’ claims cover 435 km² in the top-rated mining jurisdiction of Quebec, Canada, within the Frotêt-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

For more information:

Justin Reid
Chief Executive Officer, Troilus Gold Corp.
+1 (647) 276-0050 x 1305
justin.reid@troilusgold.com

Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com

Cautionary statements

This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the impact of the report on the Company. 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: 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 Technical Report 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.