MONTREAL, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”) (TSX: TLG; OTCQX: CHXMF; FSE: CM5R) is pleased to announce the signing of a Memorandum of Agreement (“MoA”) with Aurubis AG (“Aurubis”), a leading global copper smelter and recycler headquartered in Hamburg, Germany, for the long-term offtake of copper-gold concentrate from the Company’s Troilus Project in north-central Québec, Canada. This MoA builds on the indicative offtake terms announced on June 18, 2025, advancing Troilus’ partnership with Aurubis to a more formal stage. The agreement establishes the framework for long-term concentrate supply and strengthens alignment between the two companies as Troilus advances toward project financing and development.
The MoA was executed today during the Government of Canada’s Critical Minerals Mission to Germany, attended by the Right Honourable Mark Carney, Prime Minister of Canada, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, and the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Québec Regions, together with German Minister for Economic Affairs and Energy, Dr. Katherina Reiche, and a select group of Canadian and German mineral resource and energy companies (see August 25, 2025, press release).
The MoA establishes commercial terms for a significant portion of Troilus’ concentrate to be delivered to Aurubis and is advancing in parallel with the Company’s broader debt financing package of up to US$700 million, announced on March 13, 2025.
Justin Reid, CEO of Troilus Gold, commented, “Signing this agreement with Aurubis during Canada’s Critical Minerals Mission to Germany is highly significant for Troilus. It underscores the international importance of our project, strengthens Canada–Europe cooperation on critical minerals, and provides a clear step toward completing the financing required to advance construction. We are proud to be developing a project that will deliver benefits in Québec while supporting secure supply chains for our European partners.”
The Honourable Tim Hodgson, Minister of Energy and Natural Resources, commented, “The partnership between Troilus and Aurubis marks a step forward in advancing the types of diversified trade, secure supply chains, and G7 partnership that will make Canada an energy and critical minerals superpower, not only reinforcing Canada’s position as a reliable supplier of responsibly sourced copper and gold, but deepening our strategic partnership with Germany and the European Union. I commend Troilus and Aurubis for, and am proud to see Canadian expertise, innovations and resources playing a central role in shaping the future of critical minerals.”
Figure 1. From left, Tim Hodgson, Canada’s Minister of Energy and Natural Resources, Justin Reid, CEO of Troilus, Toralf Haag, CEO of Aurubis, and Dr. Katherina Reiche, Federal Minister for Economic Affairs and Energy of Germany
This milestone underscores the importance of Canadian critical mineral projects in strengthening global supply chains, highlights Troilus’ role as a future North American supplier to European markets, and reflects recognition of Troilus as a project of strategic importance to Canada, Québec, and international partners.
Ocean Partners USA Inc. (“Ocean Partners”) is acting as Troilus’ independent third-party advisor in support of the Company’s concentrate offtake strategy, providing market insight and guidance across technical, commercial, and financial disciplines. Their expertise has been instrumental in structuring the long-term sales arrangements that underpin the Project’s advancement toward construction.
Auramet International Inc. continues to assist with the structuring of the debt package and engagement with potential lenders and strategic partners, as Troilus advances all aspects of the Project toward a construction decision.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved Kyle Frank, P.Geo., Vice President Exploration, 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 Gold Corp.
Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards 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.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@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 potential offtake on the Company and the likelihood that the Company will be able to negotiate a definitive offtake agreement on the terms and timeline indicated or at all, the likelihood that binding funding commitments will follow on the timeline projected or at all, the likelihood that ECAs will provide financing and guarantees, advancing towards a fully funded construction package, development plans to advance the Troilus project towards construction, the impact of due diligence on structuring a definitive project debt package, the likelihood of structuring a definitive project debt package with financial close on stated timeline or at all, structuring, identifying, and engaging potential financing participants, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the development potential and timetable of the project. 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: 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 and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; 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 Company’s latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company’s profile at www.sedarplus.ca. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/524aa001-3320-4d51-bc6a-7bfe8fea0209
