Drilling Program At The Lake Owen Project

VANCOUVER - Troy Minerals Inc. two-hole maiden drilling program at Lake Owen Project has been completed and assays of the first pass of selective sampling have been received. The Lake Owen Project is located 50 km southwest of Laramie, Wyoming. The Project is a Proterozoic layered mafic intrusion complex with a long history of sporadic exploration primarily for Platinum Group Elements. The Lake Owen Complex is a highly prospective North American based target with a strong potential for significant vanadium, titanium, PGE and associated metals mineralization.

The Company drilled two diamond holes totalling 607.77 metres. The holes were scouting in nature, drilled near the southwestern claims boundary and they represent the first holes drilled by Troy Minerals on the Project. The two DDH holes at the Lake Owen Project targeted titanium (TiO2) and vanadium (V2O5) mineralization associated with magnetite in gabbro, as well as potential reef style PGE mineralization. Although sampling along the holes was visually selective, associated with high magnetite zones, several anomalous zones of Titanium (>1%) have been encountered. Elevated values of Vanadium are also associated with increased titanium enrichment. Most importantly, associated with these anomalous zones, is elevated concentration of Scandium (Sc), a rare critical metal belonging to the REE group with no domestic supply in the United States.

"The first hole drilled by Troy at our Lake Owen project, from historical data knowledge, was planned targeting to intersect magnetite, titanium and vanadium mineralization; beyond that, it also revealed seriously elevated Scandium, a rare-earth element (REE), classified by the USGS as a critical metal." said Yannis Tsitos, President. "Scandium has green-energy technologies applications, but additionally it is the most effective known microalloying element that can strengthen aluminium, while also offering improved flexibility, resistance to heat and corrosion, and lighter weight, therefore Scandium finds applications in the space, military and civilian aviation industries. We have recently expanded our total Claims footprint over the mafic layered intrusion at Lake Owen in Wyoming to 185 Claims and Troy is currently designing the 2nd Phase, summer 2025, exploration program."