Troilus Signs Memorandum of Understanding With Boliden for Long Term Copper Gold Concentrate Offtake
Troilus Mining Corp. (formerly Troilus Gold Corp.) (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5) is pleased to announce that it has signed a Memorandum of Understanding with Boliden Commercial AB a leading European base and precious metals mining and processing company, for the long-term offtake of copper-gold concentrate from the Company’s Troilus Project in north-central Québec, Canada.
The MoU advances the indicative commercial offtake terms previously announced on July 10, 2025 to a more formal stage and establishes a framework for future concentrate deliveries. Boliden operates seven mines and five smelters across Sweden, Finland, Norway, Ireland and Portugal, and is recognized globally for its responsible processing of concentrates.
This Agreement follows the Memorandum of Agreement signed with Aurubis AG in August 2025 and further strengthens Troilus’ commercial strategy as the Company progresses Project financing and advances towards construction. Together, these arrangements secure long-term relationships with two of Europe’s most established smelting groups and reinforce Troilus’ position within evolving critical mineral supply chains.
Justin Reid, CEO of Troilus, commented, “Boliden is a highly respected partner with deep expertise in responsibly processing copper concentrates. Advancing our relationship to this stage reflects growing commercial confidence in the quality, scale and strategic importance of our Project, and reinforces Québec’s position as a stable, clean-energy jurisdiction for responsible mineral development. Alongside our agreement with Aurubis, this MoU further underpins our concentrate marketing strategy and aligns with the structures project financing process currently underway.”
The agreements with Boliden and with Aurubis establish commercial terms for signifi cant portions of the Project’s anticipated concentrate production and form a key component of Troilus’ broader financing strategy. These commercial milestones are advancing in parallel with the Company’s senior project debt facility of up to US$1 billion, supported by a syndicate of international financial institutions and export credit agencies (see press release dated, November 19, 2025).
As outlined in the Company’s May 2024 Feasibility Study, the Troilus Project is expected to produce an annual average of approximately 135.4 million pounds of copper equivalent, or 75,000 wet metric tonnes of concentrate, containing payable copper, gold, and silver.
Ocean Partners USA Inc. continues to act as Troilus’s independent third-party advisor on its concentrate offtake strategy, providing technical, commercial, and market expertise. Auramet International Inc. continues to act as project finance advisor, supporting Troilus in structuring and executing a comprehensive financing solution to advance the project toward construction.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved Kyle Frank, P.Geo., Vice President, Corporate Development, who is a Qualified Person as defined by NI 43-101. Mr. Frank is an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Mining Corp.
Troilus Mining Corp. is a Canadian development-stage mining company focused on the responsible advancement of the former gold and copper Troilus Mine towards near-term 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.
