Troy Resources NL
ASX : TRY
TSX : TRY

Troy Resources NL

November 16, 2009 23:56 ET

Troy Resources NL: Entitlements Issue Offer Document

PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 16, 2009) - Troy Resources NL ("Troy") or "the Company" (TSX:TRY)(ASX:TRY)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Please be advised that Troy Resources NL has released the ENTITLEMENTS ISSUE OFFER document which will be mailed to shareholders today. Further instructions for holders on the Canadian Register including an issue price of C$1.96 representing the equivalent of A$2.00 per New share under the offer are contained in the attached document. The Offer document can be accessed via the Troy Website www.try.com.au, "Latest News". and can also be found under the Companies profile on the SEDAR website www.sedar.com.

Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a "qualified person" under National Instrument 43-101 – "Standards of Disclosure for Mineral Projects", and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to qualify as a "competent person" as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Doyle has reviewed and approved the information contained in this report. For further information regarding the Brazil, Australia and Argentina projects, including a description of Troy's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Troy's project please refer to the technical report which are available under the Company's profile at www.sedar.com.

This report contains forward-looking statements. These forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations

TROY RESOURCES NL

ABN 33 006 243 750

ENTITLEMENT ISSUE OFFER

INSTRUCTIONS FOR CANADIAN HOLDERS OF ORDINARY SHARES

Dear Troy Shareholder:

Attached to this note is a copy of the Entitlement Issue Offer document dated 17 November 2009. You should read this document carefully.

Because all of Troy's shares held by Canadian resident holders are in "book entry" form, Troy has made arrangements with CDS Clearing and Depository Services Inc. ("CDS & Co."), who is the registered holder of Troy's shares, to enable those Canadian residents who wish to accept the Entitlement Issue Offer and purchase New Shares to do so through the system established between CDS & Co. and your brokerage firm.

Troy has set the issue price for the new shares under the Entitlement Issue Offer at C$1.96 per New Share. This is the Canadian dollar equivalent of A$2.00 per New Share based on a currency futures contract made by Troy to facilitate a Canadian dollar denominated issue price. It is necessary that the issue price be denominated in Canadian dollars for the purposes of the CDS & Co. system.

Accordingly, if you wish to accept the Entitlement Issuer Offer and purchase some or all of the New Shares to which you are entitled, you should contact your brokerage firm, who will provide you with the necessary information (including details as to how to deliver payment for the New Shares).

Once the Entitlement Issue Offer has completed, your New Shares will be credited to your account at your brokerage firm.

The deadline for acceptance of the Entitlement Issuer Offer by Canadian resident holders is 4:00 p.m. Toronto time on Monday, November 30, 2009, being the close of business in Toronto, Ontario on the business day prior to the closing of the Entitlement Issue Offer in Australia. This deadline is to accommodate the time zone differences between Canada and Australia.

PLEASE CONTACT YOUR BROKERAGE FIRM WELL IN ADVANCE OF THE DEADLINE SO AS TO ENSURE THAT YOUR INSTRUCTIONS AND SUBSCRIPTION FUNDS CAN BE RECEIVED IN A TIMELY MANNER.

Yours truly,

TROY RESOURCES NL

ABN 33 006 243 750

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