Troilus locks in European smelter support as project financing progresses

Troilus Mining (TSX: TLG; US-OTCQX: CHXMF) confirmed it signed a memorandum of understanding (MoU) with Boliden Commercial AB for the long‑term offtake of copper‑gold concentrate from its Troilus project in north‑central Quebec.

The MoU formalizes indicative commercial offtake terms first announced on July 10, 2025 and establishes a framework for future concentrate deliveries. Boliden, a European base‑ and precious‑metals miner and processor, operates seven mines and five smelters across Sweden, Finland, Norway, Ireland and Portugal.

Troilus noted the agreement follows a memorandum of agreement with Aurubis AG signed in August 2025, strengthening the company’s commercial strategy as it advances project financing and moves toward construction. Together, the MoU with Boliden and the Aurubis agreement secure long‑term relationships with two major European smelters and support Troilus’s role in critical mineral supply chains.

“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 Quebec’s position as a stable, clean-energy jurisdiction for responsible mineral development," Justin Reid, CEO of Troilus, commented.

He added, "Alongside our agreement with Aurubis, this MoU further underpins our concentrate marketing strategy and aligns with the structures project financing process currently underway.”

The company said the commercial agreements cover significant portions of the project’s anticipated concentrate production and form a key part of its broader financing plan, which is progressing in parallel with a potential senior project debt facility of up to US$1 billion supported by a syndicate of international financial institutions and export credit agencies.

Under Troilus’s May 2024 feasibility study, the project is expected to produce an annual average of about 135.4 million pounds of copper equivalent, or roughly 75,000 wet metric tonnes of concentrate containing payable copper, gold and silver.

Ocean Partners USA remains Troilus’s independent third‑party advisor on concentrate offtake strategy, and Auramet International Inc. continues to serve as project finance advisor.

More information is available at www.TroilusMining.com