Vancouver, British Columbia–(Newsfile Corp. – May 21, 2024) – Troubadour Resources Inc.  (TSXV: TR) (OTC PINK: TROUF) (“TR” or the “Company”), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that, subject to the approval of the TSX Venture (the “Exchange“), the Company has executed an option (the “Option Agreement“) with Xander Resources Inc. (“Xander” or the “Vendor“) for the right to purchase an undivided 100% interest in 173 mineral claims comprising Xander’s Senneville Project (the “Project), located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining center of Val-d’Or, Quebec.

The Project covers over 100 km² and is contiguous in the South to Probe Metals’ Novador Project, host to the 2.04 Moz Monique Resource grading 1.42 g/t Au, and in the north to Monarch Mining’s Beaufor Mine, which has produced over 1.1 Moz Au.

Figure 1 – Map of the Senneville Claims.

Historic work has focused around the Gustave Céré Showing in the Senneville South Claim Group where historical grab samples have yielded up to 49.5 g/t Au, channel samples of up to 6.5 g/t Au over 1.8 m, and drilling has identified up to 18.15 g/t Au over ~0.9 metres. This showing has been defined by drilling for ~361 metres along strike but other areas of the Project have not been systematically explored for gold as the focus of historical work was largely on the properties’ VMS potential.

The Project is underlain primarily by the Garden Island sediments in the south and in the north by the Lanaudiere Group of basalts, mafic volcaniclastics, and narrow units of komatiite and ultramafic to gabbroic sills. All of these units’ trend west-northwest and their contacts are usually dextral or reverse dextral faults with steep northerly dips. Gold-bearing zones in the area are associated with shear zones, faults, tension fractures and tectonic breccias and generally associated with syn-volcanic intrusions.

“The rising global demand for copper, driven by the green energy revolution and the exponential growth of electric vehicles, makes the acquisition of the Senneville Gold-Copper Property an attractive investment. This acquisition promises to position the Company at the forefront of the burgeoning copper market, offering significant growth opportunities,” said Blake Morgan, CEO of Troubadour Resources.

“The geological characteristics of the property and the historical data on mineral occurrences make it an exceptional opportunity for exploration and potential development. By making these strategic acquisitions, we are positioning Troubadour at the forefront of the evolving copper market, thereby securing a foothold in the rapidly expanding green energy sector. Many companies have recently acquired properties in Ontario and Quebec based on map geology, but the Senneville property not only has a significant number of priority copper drill targets, but also a gold-focus which we will work to build on as we prepare for a maiden drill program this year.”

The Terms of the Agreement

Pursuant to the Option Agreement (the “Agreement“), the Company may acquire a 100% interest in the Property by issuing an aggregate of 5,000,000 common shares in the capital of the Company and complete $2,000,000 in work expenditures as indicated in the table below:

The Project has the following net-smelter returns royalties (the “NSR“) which will be assumed by the Company:

• 2% NSR to North American Exploration Ltd. for 72 claims
• 2% NSR to Silverwater Capital Corp. for 62 claims
• 2% NSR to Terrance Coyle / 9093-6725 Quebec Inc. for 39 claims

The Option Agreement, including the issuance of Shares, remains subject to the approval of the Exchange.

Qualified Person

The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“).

About Troubadour Resources Inc.

Troubadour Resources Inc. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Troubadour trades on the TSX Venture Exchange under the symbol TR and the OTC PINK Exchange under the symbol TROUF.

TROUBADOUR RESOURCES INC.

“Blake Morgan”
CEO and Director

For more information, please call Blake Morgan at (236) 878 – 4938 or email blake@acvc.vc.