Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

July 27, 2015 08:00 ET

Troymet Updates Wildcat SE Target Area Progress

CALGARY, ALBERTA--(Marketwired - July 27, 2015) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to update exploration progress on the SE target on its Wildcat gold-silver project located in the Detroit Mining District, an historic gold producing region in the northern Drum Mountains of central Utah. The primary exploration focus is structural feeders and breccias along the Joy Fault and structural/stratigraphic targets in Cambrian carbonate rocks. Property wide geological mapping has identified 13 projected intersections of secondary faults with the Joy Fault and all are primary targets for gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits. Importantly, only one historic drill hole has intersected the Joy Fault proximal to one of these newly interpreted intersections/targets. This hole, drilled by Gold Fields Mining Corporation in 1991, intersected 22.72 metres grading 1.27 g/t gold (75 feet grading 0.037 ounces per ton gold).

Seven of the newly recognized structural targets occur in the SE target area and some have associated pathfinder element soil anomalies. All are easily accessible from established roads. None of these structural targets have been drilled. Detailed mapping has also confirmed the presence of favorable stratigraphy for gold mineralization at shallow depths. This stratigraphy, consisting of thin-bedded silty, sandy, calcareous units of the upper Big Horse Member of the Cambrian Orr Formation, appears to occur along the Joy Fault for a distance of at least 1 km in the SE target area.

The Joy Fault, in the SE target, is largely concealed by overburden and consequently soil geochemistry, geophysics, structural mapping of flanking geology, and overburden trenching are critical in identifying drill targets. The SE target tracks the Joy Fault along the contact between Cambrian carbonate rocks and volcanics of the Thomas caldera. The target area is located along a pronounced NW-trending break in Bouguer gravity. Magnetic (TMI) data shows a strong magnetic low, approximately 1800 metres long and ~500 metres wide, developed in the Cambrian carbonates along the Joy Fault.

Rock chip samples of decalcified carbonate in a prospect pit near a fault intersection along the Joy Fault yielded 2.2 and 3.9 g/t gold as well as 100 and >500 ppm tellurium and 100 and 283 ppm antimony. Three jasperoid rock chip samples from the same prospect pit assayed 0.115, 1.29, 2.46 g/t gold. Pathfinder element geochemistry is also anomalous; one jasperoid sample returned 332 ppm arsenic, 5.74 ppm bismuth, 37.4 ppm mercury, 99.6 ppm antimony and >500 ppm tellurium in addition to 2.46 g/t gold. Mapping has identified an additional exposure of the Joy Fault 200 meters NW of the prospect pit, and assays are pending. This mineralization could represent leakage above more extensive mineralization in the underlying Big Horse limestone. Decalcification of silty carbonates increases porosity and permeability of host rock and is an important characteristic of Carlin style mineralization. The presence of anomalous pathfinder element geochemistry with gold is highly significant.

Historic grid soil sampling (300 X 100 foot or 90 X 30 metres) by Newmont Mining Corporation in 2012 identified a 300-meter-long (1,000-foot-long) tellurium >> mercury >>>gold anomaly paralleling the Joy Fault in the SE area. This anomaly has never been trenched or drilled. The average tellurium concentration of 0.32 ppm (five samples) compares to a background of <0.05 ppm. For corroboration, two additional soil lines were completed by Troymet. One of these lines, running along the edge of alluvium sub-parallel to the anomalous Newmont soil line, yielded similar results, with an average tellurium concentration of 0.29 ppm (eight samples). Gold and mercury concentrations in the same area are not as continuous, but range from 2 to 122 ppb gold and from 0.05 to 4.9 ppm mercury.

The combination of the anomalous prospect pit and the soil anomalies point to possible mineralization at shallow depths in this area.

All rock and soil samples were prepared for analysis and assayed for gold (30 gram sample by FA/ICP_AES finish) at the ALS Global laboratory in Reno, Nevada. Multi-element analysis of all samples was performed at the ALS Global laboratory in Vancouver, Canada.

Troymet is currently in the process of permitting trenches, drill roads and drill pads in the SE area and other areas. Troymet, through its wholly owned subsidiary Troymet USA LLC ("Troymet USA"), holds an option to acquire a 70% interest in the Wildcat property from Renaissance Exploration, Inc., ("RenEx") a wholly owned subsidiary of Renaissance Gold Inc. Under the terms of option agreement Troymet USA has retained RenEx as its contractor in Year 1 to take advantage of RenEx's expertise and established infrastructure. Troymet USA is exclusively responsible for the planning, execution and supervision of all exploration programs.

Kieran Downes, President and CEO of Troymet, comments: "Troymet's exploration has identified a significant number of new and untested gold targets in the SE target area. The Company hopes to move quickly to drill testing once the trenching program is approved and completed."

Website Links:

Wildcat Target Areas: Geology Map

Wildcat Target Areas: Total Field Magnetics

Wildcat Target Areas: Bouger Gravity Map

Wildcat Target Areas: Digital Elevation Model

Wildcat SE Target: Photo Facing NW

Wildcat SE Target: Photo Facing NE

Qualified Persons

All technical data, as disclosed in this press release, has been verified by the Company's qualified persons Kieran Downes, Ph.D. and Professional Geologist, and Mark Coolbaugh, Ph.D. and Certified Professional Geologist. Both are Qualified Persons as defined by National Instrument 43-10.

About Troymet

Troymet Exploration Corp. is a junior exploration company with a solid treasury and with projects in British Columbia (Redhill and Golden Eagle), Manitoba (McClarty Lake) and Utah (Wildcat). It operates the Wildcat, Redhill and Golden Eagle projects. Hudbay minerals Inc. is the operator of the McClarty Lake joint venture and must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Troymet retains a 2% net smelter returns royalty ("NSR") on the Key property, British Columbia, which was sold to New Gold Inc. in 2013. Troymet is continuing to evaluate mineral properties for acquisition.

TROYMET EXPLORATION CORP.

Kieran Downes, Ph.D., P.Geo., President, CEO & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Wildcat Project, including the exploration potential and analogous deposit potential of the Wildcat Project; future data analysis, sampling plans and exploration plans on the Wildcat Project; and exploration targets and the potential of such exploration targets. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects Troymet's current beliefs and is based on information currently available to Troymet and on assumptions Troymet believes are reasonable. These assumptions include, but are not limited to: the current share price of Troymet's common shares and the ability to raise future equity financing, if needed, at prices acceptable to Troymet; Troymet's current and initial understanding and analysis of the Wildcat Project; the ability of Troymet to discover viable exploration targets and the results of exploration on the Wildcat Project; Troymet's general and administrative costs remaining constant; and the market acceptance of Troymet's business strategy.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Troymet to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Troymet and its projects, and in particular, the Wildcat Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting Troymet; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in Troymet's disclosure documents on the SEDAR website at www.sedar.com. Troymet does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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