Troilus Appoints Industry Veteran Richard Harrisson as Chief Operating Officer to Lead the Troilus Gold and Copper Project Redevelopment

Toronto, Ontario, CANADA


TORONTO, June 01, 2021 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the “Company”) is pleased to announce that Richard Harrisson will join the company in a newly created position of Chief Operating Officer effective August 1st, 2021. Mr. Harrisson is a mining industry veteran who brings a wealth of experience in mine engineering, construction and operations having held senior positions at some of Canada’s premier operations over the last 20 years. Most recently, Richard served as Director of Project Evaluations at Canadian Malartic where he oversaw the engineering and pre-development of the $1.7 billion Odyssey Project from conception through to the current construction.

“We are thrilled to welcome Richard to our executive team,” commented Justin Reid, CEO and Director. “Richard’s extensive and successful track record as a mine builder, operator and team leader in the Canadian mining sector speaks for itself. He has a proven engineering pedigree that has included mine design, construction, permitting, operations, and challenging turnarounds for mining companies including Agnico, Premier Gold, Xstrata, Cambior and Aur Resources. His experience and leadership capabilities will be a key factor in our ability to deliver a successful mine restart at Troilus. We see his confidence in our Project as a hugely positive indicator for the future of the operation.”

Richard Harrisson, incoming COO, commented, “The Troilus project offers the opportunity to work with a great team of proven professionals while advancing one of the most exciting development assets in Canada and Quebec. Troilus is moving towards becoming a long-life asset with the potential to rank among the largest gold and copper operations in Canada. In an extremely short period of time, the technical team has significant expanded mineral resources with further growth potential, and engineering work to date has delivered a robust PEA and a well advanced PFS. The Troilus team has also established the Company as a leader in ESG responsibility and stakeholder engagement. I look forward to working with the Troilus team as the Project continues to grow and advance towards a production decision.”  

In the newly created role of Chief Operating Officer, Mr. Harrisson will be responsible for all Quebec operations, reporting directly to CEO, Justin Reid. As COO, he will oversee the delivery of key engineering milestones including the Pre-Feasibility Study planned for later this year and Feasibility Study planned for next year, environment, permitting and First Nation consultations and will be responsible for day-to-day activities and logistics at site. In addition to his most recent role at Canadian Malartic, Mr. Harrisson also served as Mining Director at Premier Gold Mines where he led the Feasibility Study for the Greenstone open pit project. He also held a number of positions with Agnico Eagle including Engineering Superintendent at Goldex Mine in Val d’Or, Project Evaluation Engineer at CTMN and Underground Mine Manager at the Kittila Mine in Finland. Mr. Harrisson obtained his Bachelor of Mining and Mineral Engineering from Université Laval and is a member of the Ordre des ingénieurs du Québec. He is a bilingual native French speaker and lives in Quebec.

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 is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 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. 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

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, timing of future studies including the pre-feasibility study, environmental assessments (including the timing of an environmental impact study) and development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Quebec and Canada; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource 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; the anticipated results of the Company’s 2021 drill program and their possible impact on the potential size of the mineral resource estimate; the ongoing impact of the novel coronavirus (COVID-19) and the considerable uncertainties about the geographic, social and economic impact 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.