Trojan Gold Inc. Announces Filing of NI 43-101 Technical Report on its Hemlo South Property

3 February, 2021

TORONTO, ON, February 3, 2021 – Trojan Gold Inc. (“TGI” or the “Company”) is pleased to announce that it has filed on SEDAR a National Instrument 43-101 (“NI 43-101”) Technical Report on its Hemlo South Property (the “Property”) located in Northwestern Ontario’s Hemlo Gold Camp (the “Report”).

The Report provides a full review of the geology, mineralization, exploration history, and exploration potential of the Hemlo South Property in which TGI has a 50% interest. In addition, the Report discusses the recently conducted geochemical survey conducted by the Company on the Property which was successful in obtaining several strong Au and/ or Ag anomalies. These anomalies are supported by responses in several other elements, such as Ba, Mn, Cu, W, Ca, and Zn. These occur in three areas, all in the eastern part of the property and one on the west side. The Report also provides recommends a two-phase exploration program – the first to develop drill targets followed by a drilling program to test them.

Charles Elbourne, President and CEO of the Company stated: “This report highlights the exploration potential of Hemlo South and provides guidance with respect to future exploration efforts. Most important, the report concludes that “the Hemlo South property has significant, untested potential to host greenstone-type gold mineralization” and proposes a go-forward exploration program, which the Company intends to pursue.”

The Technical Report is titled, “NI 43-101 Technical Report on the Hemlo South Property, Bomby and Lecours Townships, NORTHWESTERN ONTARIO, Thunder Bay Mining Division” with an effective date of January 29, 2021. The Report was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects (“NI 43-101”) by I. A. Osmani, M.Sc., P.Geo. of Faarnad Geological Consulting (FGC) Inc. and A. J. Aubut, M.Sc., P.Geo. of Sibley Basin Group Geological Consulting Services Ltd., both of whom are considered “Qualified Persons” under NI 43-101. The Report has been filed on SEDAR and the Company’s website ( and is now available for review.

About Trojan Gold Inc.

Trojan is an active Ontario-based Prospect Generator junior exploration company led by a talented team of professionals having significant exploration, engineering, project financing and permitting experience. Trojan has accumulated sizeable land positions in the Hemlo Gold Camp and Shebandowan Greenstone Belt that represent significant mineral exploration potential. Trojan is a member of the Interbanc Capital Corp. Group of Companies that includes, among others, Tashota Resources Inc. (which holds the other 50% interest Hemlo South) and Strike Copper Corp. Altogether, these companies have substantial property holdings in the Hemlo Gold Camp, the Shebandowan Greenstone Belt and the Beardmore-Geraldton Gold Camp in Northern Ontario. Trojan intends to go public on the Canadian Securities Exchange (“CSE”) in the near future having met the minimum listing capital and shareholder requirements and to this end, it has commenced filing the necessary documentation with the regulator and the exchange. For further information on the Company, please visit


Charles J. Elbourne, President & CEO

For further information, please contact:

Charles J. Elbourne, President & CEO,

Trojan Gold Inc.

82 Richmond St. E. Suite 401, Toronto, ON M5C 1P1

Mobile: 416-315-6490 | Office: 647-350-6122 | Email:


Cautionary Note Regarding Forward-Looking Statements and Information

This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact and implications of drill results of the Company; the timing and amount of estimated future exploration and success of such exploration activities; and the anticipated results of the Company’s plan to develop and implement a drill program at its Hemlo South property. 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”, “schedule”, “estimates”, “forecasts”, “intends”, “continue”, “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”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performance or achievements of the Company to be materially 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 business strategies and the environment in which the Company will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on precious metals; there being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties inherent to any mineral resource estimates; 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 of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

In presenting this information, Trojan Gold Inc. is not making an offer to sell nor soliciting an offer to buy any securities, certifying the completeness or accuracy of this information, or assuming that the recipient is qualified to consider this opportunity. Accordingly, this document does not and is not intended to comply in any manner with any United States or Canadian securities or disclosure laws or requirements. Prior to making or soliciting any such offer, the Company will provide access to such information and will comply with the requirements of applicable securities laws.

SOURCE: Trojan Gold Inc.