Troilus Gold Receives US$300M LOI From Export Development Canada; Total Export Credit Agency Support Reaches US$1.3B

About this update from Troilus Mining Corp

[{"type":"text","content":" MONTREAL, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF; FSE: CM5R) is pleased to announce an additional advancement in its comprehensive financing strategy with the receipt of a new Letter of Intent (“LOI”) from Export Development Canada (“EDC”) for up to US$300 million to support the development of the copper and gold Troilus Project (the “Project”). The LOI from EDC complements previously announced LOI’s from the German export credit agency (“ECA”) Euler Hermes (see press release from November 13, 2024), the Finland ECA, Finnvera plc and the Swedish export credit agency, EKN (see press release from November 19, 2024). Highlights: EDC is prepared to consider debt financing support for the development and construction of the Project in an amount up to US$ 300 million. EDC is a financial Crown corporation owned by the Government of Canada and it specializes in providing financing solutions for Canadian exporters. In 2023 alone, EDC facilitated more than US$8 billion in business through its customers in the mining sector. EDC support is subject to its rigorous due diligence process, including but not limited to, economic, technical, environmental and social. The LOI builds upon previous in-principle support from other global ECA’s, including a US$500 million LOI from Euler Hermes, a US$300 million LOI from Finnvera, and a US$200 million LOI from EKN. Combined, these LOIs represent a total of US$1.3 billion in potential financing support, providing a robust foundation for a multi-faceted financing structure and further solidifying the Troilus Project's path toward becoming a significant North American copper and gold producer. Justin Reid, CEO of Troilus, commented, “The LOI from Export Development Canada, alongside those from other leading ECA’s, represents the culmination of significant effort and collaboration by our team and partners. As a Canadian company, this support from EDC reinforces the Troilus Project’s importance to Canada’s critical minerals strategy and broader resource objectives, while highlighting our nation’s leadership in advancing domestic projects with global significance. It also reflects the growing recognition of Troilus as a highly financeable copper-gold asset capable of providing reliable, long-term supplies of critical minerals to meet rising ...

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