Nasdaq GlobeNewswire

Troilus Provides First Quantum With Notice of Expectation to Exercise Troilus Option

Del

TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX-V:TLG) ("Troilus" or the "Company") is pleased to announce that it has formally notified First Quantum Minerals Ltd. ("First Quantum") of its expectation to exercise its option (the "Notice") to acquire the Troilus property (the "Troilus Gold Project") located northeast of the Val-d'Or district in Quebec.  Troilus has completed all required payments under the previously announced Troilus Option Agreement and is working closely with First Quantum to accomplish the actions required following delivery of the Notice until the exercise date, including all necessary approvals, applications, agreements and other steps required to formally transfer title, a process that is expected to take approximately 60 days to finalize.

Details of Option Agreement Between Troilus and First Quantum

In May 2016, First Quantum entered into a two-year option agreement (the "Troilus Option Agreement") with a wholly owned subsidiary of Sulliden Mining Capital ("Sulliden Sub") pursuant to which Sulliden Sub acquired an option on a 100% interest in the Troilus Gold Project, with First Quantum retaining a sliding net smelter royalty.  Following the recently completed acquisition by Troilus (formerly Pitchblack Resources Ltd.) of Sulliden Sub, Troilus acquired the option to buy the Troilus Gold Project.

To exercise the option under the Troilus Option Agreement, Troilus (and formerly Sulliden Sub) was required to make three cash payments of $100,000 to First Quantum and spend a minimum of $1,000,000 on engineering and technical studies to evaluate the economic viability of the project.  These payments and expenditures have been completed.  In addition, Troilus and First Quantum shall enter into a Royalty Agreement, pursuant to which First Quantum shall retain a sliding net smelter royalty on the Troilus Gold Project, as well as a liabilities assignment agreement.

Upon exercise of the option, the acquisition of the Troilus Gold Project shall include all infrastructure, including power lines, camp buildings, permitted tailings pond and associated water treatment facilities. The Troilus mill, however, was removed from the project during the first phase of reclamation.

Justin Reid, CEO of Troilus commented, "We are thrilled to have formally given First Quantum our notice of expectation to exercise and to be working closely with them on this final stretch of Troilus' acquisition of this highly prospective project in the Province of Quebec, one of the best mining jurisdictions globally."

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 nearly 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.

For more information:

Spyros Karellas 
Communications Manager
+1 (416) 433-5696
skarellas@troilusgold.com 

Cautionary statement regarding forward-looking information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the impact of Troilus successfully exercising the option on the timeline estimated, or at all, the receipt of all required governmental approvals and Troilus' plans for developing its properties. Generally, forward-looking information 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", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the likelihood of the Company exercising the option pursuant to the estimated timeline, or at all, receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Troilus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Troilus Gold Corp. via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Synthesio to Bring Proven Ipsos Data Science to Artificial Intelligence13.12.2018 17:03Pressemelding

Synthesio's Next-Generation Social Media Intelligence to Raise Unseen Insights to the Surface, Faster NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Synthesio, an Ipsos company, and also the leading Social Media Intelligence Suite, today announced the plans for its next-generation Artificial Intelligence (AI) engine. The project will combine Synthesio’s AI technology with Ipsos’ data science. The combination will power upcoming Synthesio capabilities to help users find insights faster, remove guesswork, and make informed business decisions across a variety of use cases. “Our goal has always been to provide customers with meaningful data, visualized so that they can make strategic business decisions,” explained Loic Moisand, CEO & Founder of Synthesio. “The less guesswork that a company has to make, and the less time that it takes users to find meaningful insights, the more time for data-backed business decisions. We are really pleased that we can leverage the data science capabilities dev

XBiotech Announces Publication of Post-Hoc Analysis for Phase III Colorectal Cancer Study13.12.2018 14:00Pressemelding

Biomarkers Predict Significantly Higher Rates of Treatment Response to Bermekimab in Advanced Cancer Patients AUSTIN, Texas, Dec. 13, 2018 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today the publication of findings on key biomarker analysis of colorectal cancer patients treated with bermekimab in its European Phase III study. The manuscript, entitled, “Interleukin-1 Receptor Antagonist (IL-1ra) Levels Predict Favorable Outcome after Bermekimab, a First-in-Class True Human Interleukin-1α Antibody, in a Phase III Randomized Study of Advanced Colorectal Cancer”, has been published online in the journal OncoImmunology. The findings report that patients with relatively low levels of IL-1ra or IL-6 were more likely to respond to bermekimab therapy and achieve the study’s primary endpoint. The study’s primary endpoint measured a combination of physical symptoms—pain, fatigue, anorexia and muscle wasting—which tend to worsen with advanced cancer, to assess whether these sympto

DoubleVerify Launches Brand Safety and Suitability Verification Across YouTube, Extending Quality Coverage for Global Brands13.12.2018 14:00Pressemelding

DV expands its partnership with YouTube to identify off-brand content, enabling measurement of Authentic ImpressionⓇ delivery NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- DoubleVerify ("DV"), the leading independent provider of marketing measurement software and analytics, today announced an expanded partnership with YouTube to deliver brand safety and suitability measurement for campaigns run on the platform. The partnership drives greater campaign transparency and unlocks potential performance for advertisers wishing to avoid unsuitable content or categories of lesser relevance to the brand. “We are excited to enter a new phase of partnership with YouTube,” said Wayne Gattinella, CEO of DoubleVerify. “Today, brand suitability is a core advertiser expectation – across all media types and buying platforms. With our expanded partnership, DoubleVerify is ensuring brand suitability on the world’s leading online video platform.” YouTube advertisers will now benefit from DV’s best-in-class B

FROM CUTE TO CONFIDENT: MARY KAY INC. TALKS PINK AT THE MUSEUM AT FIT13.12.2018 14:00Pressemelding

Mary Kay Inc. and The Museum at The Fashion Institute of Technology Partner for a Pink-Centric Panel Discussion in Conjunction with Special Exhibition ‘Pink: The History of a Punk, Pretty, Powerful Color’ NEW YORK, N.Y., Dec. 13, 2018 (GLOBE NEWSWIRE) -- From pink makeup compacts to the iconic pink Cadillac, global beauty brand Mary Kay has been synonymous with the color pink for more than five decades. On December 13, 2018, Mary Kay will partner with The Museum at FIT (MFIT) to host a scholarly panel discussion, ‘Powerful Pink: From Cute to Confident,’ at the Katie Murphy Amphitheatre on the New York City FIT campus. Panelists include Luis Casco, Mary Kay Global Beauty Ambassador and celebrity makeup artist; Kate Greene, Vice President of Communications and Creative Direction at Givaudan and Karen Young, FIT adjunct professor and founder of The Young Group. The panel discussion will be moderated by Sheryl Adkins-Green, Chief Marketing Officer for Mary Kay Inc. The scholarly panel disc

BST wins second contract to build cars for the growing high-speed rail network13.12.2018 12:30Pressemelding

Second order of new Chinese standard high-speed train cars demonstrates Bombardier joint venture’s competitiveness and ability to deliver proven high-speed mobility solutions Bombardier has been increasingly active in developing China’s advanced railway networks with multiple high-speed railcar orders BERLIN, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Bombardier Sifang (Qingdao) Transportation Ltd. (BST), a joint venture of global mobility solution provider Bombardier Transportation, announced today that it has won a second contract this year to support China’s evolving high-speed rail network. The new contract, awarded by China Railway Corp. (CRC), is to supply 168 CR400AF new Chinese standard high-speed train cars and is valued at approximately 3.1 billion CNY ($453 million US, 399 million euro). Bombardier Transportation owns 50% of the shares in BST, which is consolidated by Bombardier Transportation’s partner CRRC Sifang Co., Ltd. The 168 cars will be configured into fifteen 8-car trainset

GridGain® Professional Edition 2.7 Introduces TensorFlow Integration, Enhanced Usability, Transparent Data Encryption at Rest13.12.2018 09:00Pressemelding

Native TensorFlow Integration Enables Seamless Deep Learning on Data in GridGain FOSTER CITY, Calif., Dec. 13, 2018 (GLOBE NEWSWIRE) -- GridGain Systems, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, today announced the immediate availability of GridGain Professional Edition 2.7, a fully supported version of Apache Ignite 2.7. GridGain Professional Edition 2.7 introduces TensorFlow™ integration for enhanced training of deep learning (DL) models. GridGain Professional Edition 2.7 also provides enhanced usability, including expanded support for thin clients, as well as Transparent Data Encryption at rest to improve security. Together, the features make it easier to use the GridGain In-Memory Computing Platform for more use cases, such as for achieving the speed and scalability required for implementing real-time continuous learning for digital transformation and omnichannel customer experience initiatives. TensorFlow Integration for High Performance

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom