Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

March 16, 2011 08:30 ET

Troymet's Optionee HudBay Drilling at McClarty Lake

COMOX, BRITISH COLUMBIA--(Marketwire - March 16, 2011) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to report that HudBay Minerals Inc. ("HudBay") has commenced a winter diamond drilling program in the Discovery zone area of the McClarty Lake project. The McClarty Lake property is located near Snow Lake, Manitoba and lies ~45 kilometres south of HudBay's Chisel North and Lalor volcanogenic massive sulphide (VMS) deposits. The property comprises three claims owned 100% by Troymet and two claims owned 60% by Troymet and 40% by HudBay ("option claims"). HudBay is currently earning an additional 20% interest in the option claims by spending $750,000 on exploration by June 5, 2011.

Early exploration on the McClarty Lake property was hampered by lack of outcrop exposure and overlying Paleozoic-aged sediment cover. An electromagnetic (EM) conductor detected in 1996 was tested by two diamond drill holes in 1997 by HudBay and two holes in 2000 by Troymet's predecessor company. All four holes intersected a gold- and silver-bearing semi-massive pyrite horizon in altered felsic volcanics, reporting a best intersection of 4.17 g/t gold and 8.48 g/t silver over 4.0 metres. A deep penetrating Time Domain EM (TEM) survey undertaken in 2002 subsequently defined a potential massive sulphide horizon(s) over a strike length of ~600 metres. Plans to test the conductor were shelved in 2004 and 2005 due to lack of drill availability, and in 2006 by poor ice conditions.

Diamond drilling in 2007 and 2008 successfully identified two laterally continuous zones of massive sulphides within a sequence of variably altered felsic volcanics and volcaniclastics. The upper pyritic zone, discovered in 1997, is locally gold enriched and traced in drill holes over a 300-metre strike length and to 250 metres vertical depth. In 2007, a second massive sulphide horizon was intersected 150 metres stratigraphically below the pyritic horizon. Known as the Discovery zone, it is also locally gold enriched and returned 1.47% zinc and 0.31% copper over 43.05 metres, including 3.46% zinc over 15.3 metres (May 15, 2008 news release). The mineralization is shallow, with the Discovery zone starting at the base of the Palaeozoic sequence at a vertical depth of ~50 metres. It has been traced in drill holes over a 75-metre strike length and to a depth of 175 metres. Both zones are open along strike and at depth.

Tracy Hurley, P.Geo., Vice President, Exploration and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.

TROYMET EXPLORATION CORP.

Kieran Downes, Ph.D., P.Geo.

President, CEO & Director

This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. 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. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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.

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