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Troilus Gold Corp - 2022 Year in Review & Outlook 2023

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Gold Recovery Copper Recovery Silver RecoveryZ87 95.5% 95.9% 92.8%J Zone 92.9% 90.4% 88.8%Southwest Zone 88.3% 93.5% 89.4%2022 Pilot Plant Scale Metallurgical Test Program Results

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This document contains “forward looking information” within the meaning of applicable Canadian securitieslegislation. Forwar d looking information includes, but is not limited to, statements regarding, the outlook for2023 and the likelihood that projected milestones will be achieved on the timeline predicted or at all. 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 orstatements that certain actions, events or r esults “may”, “could”, “would”, “will”, “might” or “will be taken”,“occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and otherimportant facts that, if untrue, could cause the actual results, performances or achievements of Troilus to bematerially 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 businessstrategies and the environment in which Troilus will operate in the future. Certain important factors that couldcause actual results, performances or achievements to differ materially from those in the forward-lookingstatements include, amongst others, currency fluctuations, the global economic climate, dilution, share pricevolatility and competition. Forward-looking statements are subject to known and unknown risks, uncertaintiesand other important factors that may cause the actual results, level of activity, performance or achievements ofTroilus to be materially different from those expressed or implied by such forward-looking statements, includingbut not limited to: the impact the COVID 19 pandemic may have on the Company’s activities (including withoutlimitation on its employees and supplier s) and the economy in general; the impact of the recovery post COVID19 pandemic and its impact on gold and other metals; there being no assurance that the exploration programor programs of the Company will result in expanded mineral resources; risks and uncertainties inherent tomineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments andother mining and economic studies which are based to a significant extent on various assumptions; variations ingold 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 ofthe mining industry, including without limitation, risks and uncertainties discussed in the Technical Report and inother continuous disclosure documents of the Company available under the Company’s profile Although Troilus has attempted to identify important factors that could cause actual results todiffer materially from those contained in forward-looking statements, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can be no assurance that such statements willprove to be accurate, as actual results and future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus doesnot undertake to update any forward-looking statements, except in accordance with applicable securities laws.The technical and scientific information in this document was reviewed and approved by Kyle Frank, P.Geo.,Manager of Exploration, who is a Qualified Person as defined by NI 43-101. Mr. Frank is an employee of Troilusand is not independent of the Company under NI 43-101.