Troy Minerals to Conduct Drilling at Tsagaan Zalaa Silica Project, Mongolia

Troy Minerals Inc. has announced the re-establishment of its drill camp at the Tsagaan Zalaa Silica Project in Mongolia, marking a significant milestone in preparation for the final phase of the Company’s drilling program for 2024. This move highlights Troy’s commitment to unlocking the potential of this high-purity silica asset, which is essential for various applications, particularly in the green energy sector.

With the drill camp now operational, Troy is poised to initiate the last round of drilling, which will focus on the project's high-grade quartz veins that can reach widths of up to 10 meters. The completion of this final drilling phase is anticipated before the end of November 2024. Successfully executing this stage will enable the Company to establish resource estimates, a crucial step in advancing the project toward a comprehensive mine plan. This progress is essential as it positions Troy to submit a mining license application by the end of 2024, paving the way for future production and long-term growth opportunities.

Rana Vig, President and CEO of Troy Minerals, emphasized the importance of this development, stating, "Re-establishing the drill camp at Tsagaan Zalaa marks another significant step in advancing this project. With the camp fully operational, we are well-positioned to complete the final phase of drilling and continue progressing toward production." He further noted that the strategic location of this high-purity silica project, coupled with the increasing demand from the green energy sector, reinforces the project's long-term potential. Vig highlighted the company's commitment to executing its development plans swiftly and efficiently to maximize shareholder value.

As full-scale field operations recommence, Troy is dedicated to advancing the Tsagaan Zalaa Silica Project, aiming to establish itself as a leader in the high-purity silica market. The ongoing exploration and drilling activities are not only critical for determining the resource's viability but also serve to demonstrate the project’s capacity to cater to the growing market demand associated with the transition to green energy technologies.

Troy Minerals remains focused on leveraging its strategic advantages in the silica sector, which is becoming increasingly important as industries shift toward sustainable practices. The successful establishment of the drill camp and the commencement of drilling activities are vital steps in this direction. The Company’s initiatives underline its proactive approach to ensuring that the Tsagaan Zalaa project aligns with the evolving market needs, positioning Troy for future success in the high-purity silica market. With continued dedication and strategic planning, Troy is set to play a significant role in the green energy transition while enhancing shareholder value.