TORONTO, ONTARIO--(Marketwired - Jan. 3, 2018) - Troilus Gold Corp. (TSX VENTURE:TLG) ("Troilus" or the "Company") is pleased to announce that its common shares will begin trading on the TSX Venture Exchange under the symbol "TLG" at market open, today, January 3, 2018.
This announcement follows the completed acquisition of the option to acquire the former gold and copper Troilus Mine (the "Troilus Project") announced on December 20, 2017. The 4,700 hectare past-producing Troilus property is located northwest of the Val-d'Or district in Quebec, Canada.
Justin Reid, Chief Executive Officer of Troilus, commented, "We are very pleased to begin trading on the TSX Venture as the newly formed Troilus Gold Corp. We are launching the Company with a quality asset in a top rated mining jurisdiction that hosts significant gold resources and boasts excellent mineral expansion potential. We are very excited about the results from our internal economic and technical studies that highlight a unique opportunity for a potential mine restart scenario. With approximately $20 million in cash, and a strong institutional shareholder base including major global resource funds, we are eager to put our development strategy into action."
Troilus also reports that 3,900,000 stock options have been awarded to various officers, directors, employees and consultants pursuant to the Company's stock option plan. The options vest immediately and are exercisable at $1.64 per common share for a period of five years. The grant of options remains subject to the approval of the TSX Venture Exchange.
About Troilus Gold Corp.
Troilus Gold is a Toronto-based development-stage mining company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus Mine. The 4,700 hectare Troilus property is located northwest of the Val-d'Or district, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1997 to 2010, Inmet Mining Corporation operated the Troilus Project as an open‐pit mine, producing more than 2,000,000 ounces of gold and 70,000 tonnes of copper.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Blake Hylands, P.Geo., who is a Qualified Person as defined by National Instrument 43-101.
