# Troilus présente un rapport technique mis à jour à la suite de l’achèvement de l’ingénierie de base, faisant ressortir une VAN après impôt à 5 % de 3,2 G$ US, un TRI de 22 % et des flux de trésorerie de 6,9 G$ US selon le scénario de base reposant sur un prix de l’or de 3 600 $ US l’once Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614 Original source: https://www.globenewswire.com/news-release/2026/09/09/3358491/0/fr/troilus-pr%C3%A9sente-un-rapport-technique-mis-%C3%A0-jour-%C3%A0-la-suite-de-l-ach%C3%A8vement-de-l-ing%C3%A9nierie-de-base-faisant-ressortir-une-van-apr%C3%A8s-imp%C3%B4t-%C3%A0-5-de-3-2-g-us-un-tri-de-22-et-des-flux-d.html Publisher: globenewswire Original announcement: 2026-09-09T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Corporation minière Troilus - Ticker: TLG - Exchange: Unavailable - Region: Quebec, Canada - Primary commodity: Gold - Secondary commodities: Copper, Silver - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-09-09 12:33:48 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Troilus Mining Corp. has released an updated technical report for its Troilus gold-copper project in Quebec, Canada, highlighting robust economics and an expanded mineral reserve. The report outlines a post-tax NPV5% of US$3.2 billion, an IRR of 22%, and a 26-year mine life, with total payable production of 5.63 Moz gold, 472 Mlb copper, and 10.88 Moz silver. Mineral reserves increased by 26% to 478 Mt, with initial capital costs estimated at US$1.428 billion, backed by advanced engineering and market-validated pricing. Reasoning: Troilus has released an updated technical report that significantly enhances the project's economic and operational profile. The report details a substantial increase in mineral reserves and contained metal, improved financial metrics \(NPV, IRR\), and a longer mine life, all supported by a higher level of engineering and cost definition. The use of a conventional, cyanide-free processing route further de-risks the project. - Positive factor: Significant increase in mineral reserves \(26% tonnage increase\) and contained metal for gold, copper, and silver. - Positive factor: Improved economic parameters with a post-tax NPV5% of US$3.2 billion and IRR of 22%. - Positive factor: Higher confidence in capital cost estimates due to advanced engineering \(95,000 hours\) and market-validated pricing \(90%\). - Positive factor: Extended mine life of 26 years and improved stripping ratio \(2.4:1 vs 3.1:1 previously\). - Positive factor: Conventional processing route with gravity concentration and flotation, producing gold-rich copper concentrate and gold/silver doré, without cyanide. - Negative factor: Resource cut-off grade changed from AuEq to NSR, which can make direct comparison to prior estimates less straightforward. - Negative factor: The resource estimate includes inferred resources, which are less certain. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 18 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Mineral reserve tonnage increased by 26% from 380 Mt to 478 Mt compared to the 2024 feasibility study. Evidence · text > Le tonnage des réserves a augmenté d’environ 26 % par rapport à l’étude de faisabilité de 2024 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Total payable copper production over mine life increased by approximately 21% compared to the 2024 feasibility study. Evidence · text > production payable de cuivre sur la durée de vie de la mine supérieure d’environ 21 % à celle de l’étude de faisabilité de 2024 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The technical report was reviewed and approved by several Qualified Persons \(ing., géo.\) from BBA, AGP, and WSP. Evidence · text > L’information scientifique et technique présentée dans le présent communiqué de presse relativement au rapport technique a été examinée et approuvée par les auteurs concernés du rapport technique présentés au tableau 8, notamment des représentants de BBA Inc., de WSP Canada Inc. et d’AGP Mining Consultants Inc., chacun étant une personne qualifiée indépendante de la Société au sens du Règlement 43-101. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report was prepared in accordance with Regulation 43-101 on information concerning mining projects. Evidence · text > rapport technique conforme au Règlement 43-101 mis à jour **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The cut-off grade for mineral reserves is stated as CA$11.84/t RNF and for mineral resources as CA$11.33/t RNF. Evidence · text > Une teneur de coupure fondée sur le revenu net de fonderie \(« RNF »\) de 11,84 $ CA/t a été utilisée pour définir les réserves. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource estimate includes 182.5 Mt of inferred resources, which have lower geological confidence. Evidence · table > 182,5 Context: Présumées **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The document refers to an 'updated' technical report and compares it to a 'feasibility study of 2024', indicating this is not a maiden resource. Evidence · text > rapport technique mis à jour **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing route includes crushing, HPGR, ball milling, gravity concentration, and flotation. Evidence · text > schéma de traitement conventionnel comprenant un concassage en deux étapes, deux unités HPGR parallèles, le broyage à boulets, la concentration gravimétrique et la flottation. **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: The processing route includes gravity concentration, with approximately one-third of gold recovered from this circuit. Evidence · text > concentration gravimétrique et la flottation, permettant la production d’un concentré de cuivre riche en or ainsi que de dorés d’or et d’argent. ## Extracted facts Stored fact records: 18. Some facts used in scoring do not have a stored record. ## Resource Estimates (15) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-0) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Resource Data - Category: proven - Tonnes: 49000000 - Grade: 0.45 - Grade Unit: g/t - Contained Metal: 0.71 - Contained Unit: Moz - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The proven gold reserve provides a high-confidence base for the project's economic viability, with a good grade and substantial contained metal. - Positive factor: High confidence category \(Proven\) for a significant amount of gold. - Positive factor: Grade is within the economic range for open pit gold deposits. - Positive factor: Contained metal contributes significantly to the overall project scale. Evidence · table > 0,45 Context: 49 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-1) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Resource Data - Category: proven - Tonnes: 49000000 - Grade: 0.048 - Grade Unit: % - Contained Metal: 52 - Contained Unit: Mlb - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Proven copper reserves add to the project's overall metal endowment, though the grade indicates it's a byproduct, contributing to the polymetallic nature. - Positive factor: High confidence category \(Proven\) for copper. - Positive factor: Contributes to polymetallic revenue stream. - Negative factor: Grade is relatively low for copper, suggesting it's a byproduct. Evidence · table > 0,048 Context: 49 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-2) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Resource Data - Category: proven - Tonnes: 49000000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 1.1 - Contained Unit: Moz - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Proven silver reserves provide an additional revenue stream, albeit at a lower grade, supporting the polymetallic nature of the project. - Positive factor: High confidence category \(Proven\) for silver. - Positive factor: Contributes to polymetallic revenue stream. - Negative factor: Grade is relatively low for silver, suggesting it's a byproduct. Evidence · table > 0,70 Context: 49 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-3) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Resource Data - Category: probable - Tonnes: 429000000 - Grade: 0.43 - Grade Unit: g/t - Contained Metal: 5.98 - Contained Unit: Moz - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The probable gold reserves represent a significant portion of the project's value, with a strong grade and large contained metal, indicating robust economic potential. - Positive factor: Large tonnage in the probable category, significantly increasing the overall reserve base. - Positive factor: Good gold grade for an open pit operation. - Positive factor: Substantial contained gold metal. Evidence · table > 0,43 Context: 429 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-4) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Resource Data - Category: probable - Tonnes: 429000000 - Grade: 0.055 - Grade Unit: % - Contained Metal: 517 - Contained Unit: Mlb - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Probable copper reserves add substantial contained metal, reinforcing the project's polymetallic nature and providing a valuable byproduct stream. - Positive factor: Large contained copper metal in the probable category. - Positive factor: Contributes significantly to the polymetallic revenue stream. - Negative factor: Grade is relatively low for copper, suggesting it's a byproduct. Evidence · table > 0,055 Context: 429 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-5) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Resource Data - Category: probable - Tonnes: 429000000 - Grade: 0.95 - Grade Unit: g/t - Contained Metal: 13.12 - Contained Unit: Moz - Cutoff Grade: 11.84 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Probable silver reserves provide a significant additional revenue stream, enhancing the project's overall economic robustness. - Positive factor: Large contained silver metal in the probable category. - Positive factor: Contributes to the polymetallic revenue stream. - Negative factor: Grade is relatively low for silver, suggesting it's a byproduct. Evidence · table > 0,95 Context: 429 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-6) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Resource Data - Category: measured - Tonnes: 81600000 - Grade: 0.35 - Grade Unit: g/t - Contained Metal: 0.9 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The measured gold resource provides a high-confidence foundation for the project, with a solid grade and significant contained metal, supporting future reserve conversion. - Positive factor: Highest confidence category \(Measured\) for a substantial tonnage. - Positive factor: Good gold grade for an open pit operation. - Positive factor: Contributes to the overall project scale with high confidence. Evidence · table > 0,35 Context: 81,6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-7) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Resource Data - Category: measured - Tonnes: 81600000 - Grade: 0.042 - Grade Unit: % - Contained Metal: 76.4 - Contained Unit: Mlb - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Measured copper resources add to the project's overall metal endowment with high confidence, though the grade indicates it's a byproduct. - Positive factor: High confidence category \(Measured\) for copper. - Positive factor: Contributes to polymetallic revenue stream. - Negative factor: Grade is relatively low for copper, suggesting it's a byproduct. Evidence · table > 0,042 Context: 81,6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-8) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Resource Data - Category: measured - Tonnes: 81600000 - Grade: 0.64 - Grade Unit: g/t - Contained Metal: 1.7 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Measured silver resources provide an additional revenue stream with high confidence, supporting the polymetallic nature of the project. - Positive factor: High confidence category \(Measured\) for silver. - Positive factor: Contributes to polymetallic revenue stream. - Negative factor: Grade is relatively low for silver, suggesting it's a byproduct. Evidence · table > 0,64 Context: 81,6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-9) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Resource Data - Category: indicated - Tonnes: 728600000 - Grade: 0.39 - Grade Unit: g/t - Contained Metal: 9.2 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The indicated gold resource is a cornerstone of the project, offering a large, well-defined base for future development and reserve conversion. - Positive factor: Very large tonnage in the indicated category, forming the bulk of the resource. - Positive factor: Good gold grade for an open pit operation. - Positive factor: Substantial contained gold metal, providing significant future potential. Evidence · table > 0,39 Context: 728,6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-10) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Resource Data - Category: indicated - Tonnes: 728600000 - Grade: 0.049 - Grade Unit: % - Contained Metal: 792.1 - Contained Unit: Mlb - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Indicated copper resources provide a substantial byproduct stream, enhancing the project's overall economic resilience. - Positive factor: Very large contained copper metal in the indicated category. - Positive factor: Significant contribution to the polymetallic revenue stream. - Negative factor: Grade is relatively low for copper, suggesting it's a byproduct. Evidence · table > 0,049 Context: 728,6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-11) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Resource Data - Category: indicated - Tonnes: 728600000 - Grade: 0.84 - Grade Unit: g/t - Contained Metal: 19.6 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Indicated silver resources add a substantial additional revenue stream, further diversifying the project's economic base. - Positive factor: Very large contained silver metal in the indicated category. - Positive factor: Significant contribution to the polymetallic revenue stream. - Negative factor: Grade is relatively low for silver, suggesting it's a byproduct. Evidence · table > 0,84 Context: 728,6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-12) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Resource Data - Category: inferred - Tonnes: 182500000 - Grade: 0.34 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The inferred gold resource represents upside potential for the project, but requires additional drilling to upgrade to higher confidence categories. - Positive factor: Significant tonnage and contained gold in the inferred category, indicating future growth potential. - Negative factor: Inferred category has lower geological confidence and cannot be used for economic studies without further drilling. Evidence · table > 0,34 Context: 182,5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-13) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Resource Data - Category: inferred - Tonnes: 182500000 - Grade: 0.044 - Grade Unit: % - Contained Metal: 177.8 - Contained Unit: Mlb - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Inferred copper resources add to the project's potential, but their lower confidence requires further work to be considered in economic studies. - Positive factor: Additional contained copper metal in the inferred category. - Negative factor: Inferred category has lower geological confidence. - Negative factor: Grade is relatively low for copper, suggesting it's a byproduct. Evidence · table > 0,044 Context: 182,5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-resource-facts-14) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Resource Data - Category: inferred - Tonnes: 182500000 - Grade: 0.72 - Grade Unit: g/t - Contained Metal: 4.2 - Contained Unit: Moz - Cutoff Grade: 11.33 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: Inferred silver resources contribute to the project's overall metal potential, but require further definition to increase confidence. - Positive factor: Additional contained silver metal in the inferred category. - Negative factor: Inferred category has lower geological confidence. - Negative factor: Grade is relatively low for silver, suggesting it's a byproduct. Evidence · table > 0,72 Context: 182,5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ## Metallurgical Results (3) ### flotation, gravity, HPGR, ball mill [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-metallurgical-facts-15) Troilus · gold #### Identity - Project: Troilus - Commodity: gold - Ticker: TLG #### Test Work - Program Status: detailed - Test Type: flotation, gravity, HPGR, ball mill - Processing Route: conventional flowsheet comprising crushing, HPGR, ball milling, gravity concentration and flotation #### Recovery - Recovery: 86.7 % - Recovery Basis: actual\_test #### Lab - Laboratory: unspecified - Consultant: BBA Inc. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The reported gold recovery is strong for the conventional, cyanide-free processing route, indicating good metallurgical performance and reduced environmental impact. - Positive factor: High gold recovery for the chosen processing route. - Positive factor: Conventional and proven processing route. - Positive factor: Cyanide-free process, reducing environmental risk. Evidence · text > taux de recouvrement moyens pendant la préproduction et la période d’exploitation minière active d’environ 86,7 % pour l’or #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### flotation, gravity, HPGR, ball mill [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-metallurgical-facts-16) Troilus · copper #### Identity - Project: Troilus - Commodity: copper - Ticker: TLG #### Test Work - Program Status: detailed - Test Type: flotation, gravity, HPGR, ball mill - Processing Route: conventional flowsheet comprising crushing, HPGR, ball milling, gravity concentration and flotation #### Recovery - Recovery: 89.6 % - Recovery Basis: actual\_test #### Lab - Laboratory: unspecified - Consultant: BBA Inc. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The reported copper recovery is excellent for the conventional processing route, contributing significantly to the project's economic viability. - Positive factor: Very high copper recovery for the chosen processing route. - Positive factor: Conventional and proven processing route. - Positive factor: Cyanide-free process, reducing environmental risk. Evidence · text > 89,6 % pour le cuivre #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### flotation, gravity, HPGR, ball mill [Link to this fact](https://atlas-staging.minestarters.com/news/troilus-pre-sente-un-rapport-technique-mis-a-jour-a-la-suite-de-l-ache-vement-de--4db9a341-c877-4a04-91f7-19a1bd0de614#fact-metallurgical-facts-17) Troilus · silver #### Identity - Project: Troilus - Commodity: silver - Ticker: TLG #### Test Work - Program Status: detailed - Test Type: flotation, gravity, HPGR, ball mill - Processing Route: conventional flowsheet comprising crushing, HPGR, ball milling, gravity concentration and flotation #### Recovery - Recovery: 87.5 % - Recovery Basis: actual\_test #### Lab - Laboratory: unspecified - Consultant: BBA Inc. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-09T00:00:00.000Z Reasoning: The reported silver recovery is strong for the conventional processing route, adding value to the polymetallic production. - Positive factor: High silver recovery for the chosen processing route. - Positive factor: Conventional and proven processing route. - Positive factor: Cyanide-free process, reducing environmental risk. Evidence · text > 87,5 % pour l’argent #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.