Troilus Announces AGM Results and Welcomes Brigitte Berneche to the Board

TORONTO, Dec. 07, 2023 - Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) ("Troilus" or the "Company"), reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the Management Information Circular dated October 31, 2023, for the Annual Special & General Meeting of Shareholders of the Company (the "Meeting") were elected as directors of the Company. Over 58% of all of the issued and outstanding shares of the Company were represented at the Meeting.

Detailed results of the vote for the election of directors held at the Meeting on December 7, 2023 in Toronto, Ontario are set out below.

The shareholders approved the election as directors of the persons listed below, based on the following vote.

Mr. Jamie Horvat and Mr. John Hadjigeorgiou did not stand for re-election. The Company would like to thank them for their service.

Following election by shareholders at the Meeting, the Company is pleased to welcome Ms. Brigitte Berneche to the Board. Ms. Berneche is a CPA, CA and has 15 years of experience with public companies in the mining and publishing sectors, as well as experience with large accounting firms, specializing in corporate tax. Since 2014, she has dedicated her time to a grass roots non-profit organization she created which provides financial assistance to families with children with cerebral palsy. The organization gained its charitable status in 2017. Ms. Berneche holds an Honours B.A. from the University of Toronto.

In addition, shareholders at the annual meeting also approved the appointment of the Company's auditors and the re-approval of the Company's existing Incentive Share Unit Plan.

Troilus' board would also like to express its gratitude to its shareholders for their continued support.

About Troilus

Troilus 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 is located in the top-rated mining jurisdiction of Quebec, Canada, where it holds a strategic land position of 435 km² in the Frôtet-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. 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 Further Information, Please Contact:

Caroline Arsenault
VP Corporate Communications
+1 (647) 276-0050
info@troilusgold.com

Cautionary Note Regarding Forward-Looking Statements and Information

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, statements regarding the use of proceeds from the Offering and future results of operations, performance and achievements of the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties of the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies and other risks identified in its disclosure documents filed at www.sedarplus.ca. This press release is not, and is not to be construed in any way as, an offer or recommendation to buy or sell securities in Canada or in the United States.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with and as required by applicable securities laws.