Troy Minerals Inc. announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.25 per unit for aggregate gross proceeds of up to CAD 2,000,000 and up to 3,571,429 flow-through units at a price of CAD 0.28 per FT unit for aggregate proceeds of up to CAD 1,000,000.12, for total gross proceeds of CAD 3,000,000.12 on June 19, 2024. Each unit is comprised of one common share of the company and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share of the company at an exercise price of CAD 0.40 per share for a period of 24 months from the closing date.

Each FT Unit will be comprised of one common share of the company which qualifies as a ?flow-through? share and one-half of one common share purchase warrant of the company. Each whole warrant is exercisable into one non flow-through common share of the company at an exercise price of CAD 0.45 per share for period of 24 months from the closing date.

Closing of the Unit Offering and the FT Unit Offering are anticipated to occur in one or more tranches. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. Securities issued in connection with the Unit Offering and the FT Unit Offering will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable.

The Unit Offering and the FT Unit Offering are subject to CSE acceptance.