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Trojan Gold provides Hemlo South Property exploration program update

Aug 12, 2022

Trojan Gold Inc. (CSE: TGII) (OTCQB: TRJGF) ("Trojan" or the "Company") is pleased to provide an update on its preliminary prospecting program at its 50% owned Hemlo South property, subject of the Company's most recent 43-101 Technical Report.

As noted in the 43-101 Technical Report, the Hemlo South property is located approximately 330 km northeast of Thunder Bay, 33km east from the Town of Marathon and is approximately 2km south of the Hemlo operations of Barrick Gold Inc. (Williams Mine) and comprises a total area of approximately 1,876 hectares (4,636 acres). The Hemlo Gold camp has produced some 21 million oz. gold to date and has been operating for 30 years. Barrick recently extended the life of the Williams Mine to 2026-2035 (from 2018)[1]. Figure 1 shows the proximity of Hemlo South the Williams Mines:

The Hemlo ore zone that produced that resource is sericite-rich and carries pyrite, gold, and molybdenite. It is geochemically anomalous in silver, arsenic, barium, antimony, vanadium, and mercury. In addition, there is also a potential for conventional orogenic-type (or "greenstone-type") gold mineralization to occur on the Hemlo South property. These types of gold deposits are currently being sought at Hemlo South under the supervision of Trojan's on-site geologists, Ryan Hrkac and Pizye Nankamba. 

Specifically, the Company is currently conducting the Phase 1 exploration program recommended in the 43-101 Technical Report with the exploration crew conducting a mapping program and taking soil and rock samples at the site of the Company's 2020 Mobile Ion Geochemistry ("MIG") Soil Orientation Survey, shown in Figure 2 (as well as other locations on the property).

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Figure 2

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To date, the exploration crew has taken 293 soil samples and 44 rock samples. About one-third of the target area is mapped and prospected. The porphyry unit described in the 43-101 Technical Report has been traced continuously for over 1,000m and intermittently over 2km. This ostensibly continuous horizon is consistently found to have low level sulfide mineralization of pyrite and arsenopyrite. Gossanous shears with strong hydrothermal alteration have also been identified in this unit over a 2km strike length. Figures 3-5 are pictures taken on-site during the week of August 8, 2022: 

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Figure 3: Geologist, Pizye Nankamba, collecting a soil sample.

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Figure 4: Crew member preparing a rock sample. 

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Figure 5: Volcanic rock sample with hydrothermal alteration and pyrite mineralization.

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The Company's 43-101 Technical Report indicated that the Phase 1 exploration program could be completed in the summer of 2021, to be followed by a Phase 2 exploration program involving 2000m of diamond drilling to test favourable results from Phase 1. Due to the impact of COVID-19 in 2020 and 2021, the Company's exploration programs have been delayed. The Phase 1 work contemplated in the 43-101 Technical Report is now expected to be completed by early September 2022. At that time, the collected soil and rock samples will be submitted to Activation Laboratories Ltd. ("Actlabs") for analysis, which should take approximately two months to complete. 

About Trojan Gold Inc.

Trojan is an active Ontario-based prospect generator junior exploration company, led by a team of professionals having exploration, engineering, project financing and permitting experience. Trojan has accumulated land positions in the Hemlo Gold Camp and Shebandowan Greenstone Belt which in management's view represent mineral exploration potential. For further information on the Company, please visit www.trojangold.com. Trojan is listed on the Canadian Securities Exchange under the symbol (CSE: TGII) and the OTCQB® Venture Market ("OTCQB") under the ticker symbol TRJGF.

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