Troy Minerals Inc. announced the results of the 2023 soil geochemical survey on the Lac Jacques rare earth element (REE) property. The 100% owned Lac Jacques property is located approximately 250km north of Montreal Quebec, Canada and approximately 40km northeast of the town of St. Anne du Lac.

Highlights: 319 Soil Samples collected and analyzed. All samples returned from the East and West grid returned anomalously high LREE and HREE results with several samples returning values >390 PPM and >106 PPM respectively. 2 samples returned >1,000 PPM TREE.

Sampling of the East and West Grids has outlined strongly mineralized strike and width extents of 600 x 300 m in the East and 2,500 x 300m in the west. Four follow up drill holes were completed to test the strong mineralization in the West Discovery Trench with results anticipated mid-January 2024. 319 soil samples were collected in the late fall of 2023 on the Lac Jacques (REE) property located near St Anne du Lac, Quebec.

The geochemical survey was carried out utilizing two survey grids. The Western Grid, located over and along the strike of the Discovery Trench, tested 2.5 kilometres of strike over a width of 200 to 300 metres. Gridlines were oriented from 160° to 180° with samples collected from the B-horizon at 25 metre spacing.

The Eastern Grid was carried out over a dyke outcrop located near the eastern boundary of the property. The gridlines here were oriented east-west covering an area approximately 600 x 300 metres, centered on the dyke outcrop (also B-horizon at 25 metre spacing). Strongly anomalous values are determined based on the calculated mean plus two times the standard deviation.

Both heavy and light REE concentrations demonstrate a strong correlation with each other and are consistent at the individual element level as well. A set of strongly anomalous soils in both heavy and light REE are located approximately 550 metres east-northeast from the Discovery Trench Zone, along the northern edge of the grid. A further 750 metres from this area is another anomalous zone.

To the west of the Discovery Trench, the two westernmost lines of the grid show several continuous anomalous soils sites. Overall, there appears to be a correlation between the anomalous soils and the inferred strike of the dyke. The anomalous zones represent multi-element coincident anomalies for drill site targeting.

In addition, it is clear that follow-up soil geochemistry work is needed and will be part of the summer program. The Company has completed drilling of four diamond drill holes (LJ-23-01,02,03,04) on two pads at the Discovery Trench area. Results are pending and all results are expected by mid-January 2024.