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Troy Energy Corp. Announces Graduation to TSX-V, $1M Equity Financing

Troy Energy Corp. (the "Corporation" or "Troy") is pleased to announce that the TSX Venture Exchange has conditionally accepted its application for the graduation of the Corporation's listing from the NEX to the TSX Venture Exchange as a Tier 2 Issuer (the "Graduation").  In connection with the Graduation, Troy is conducting a private placement equity financing for gross proceeds of up to $1,000,000.  The financing will consist of the offering of up to $400,000 of units (each, a "Unit") at a price of $0.10 per Unit and up to $600,000 of flow-through shares at a price of $0.15 per flow-through share.  Each Unit will be comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to acquire one common share at a price of $0.25 for a period of two (2) years from the date of issuance.  The proceeds from this private placement will be used for exploration work on the Corporation's 3,231 hectare Yellowknife Gold Belt mineral property centered 75 kilometres north of Yellowknife and for general working capital purposes.

The Corporation expects to give effect to its proposed name change (as approved by shareholders at the Corporation's annual shareholders' meeting held on December 7, 2017) to 'Troy Minerals Corp.' concurrently with the Graduation.

The Corporation also announces that it has re-filed an updated technical report on the Yellowknife  Gold Project ("YGP") (prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101")) to account for minor technical comments arising during the course of the TSX-V Graduation review.  The updated report is entitled "NI 43-101 Technical Report on The Yellowknife Gold Project, Northwest Territories, Canada", and was prepared by Dr. Derek Wilton, P.Geo; FGC, an independent qualified person ("QP") as defined by NI 43-101.  The technical report summary recommendation is "that good gold exploration potential is present within the YGP holdings as discussed in this report and that further evaluation of this potential is warranted".  A Phase 1 work program is recommended, at an estimated cost of $200,000.  A complete copy of the technical report can be found under the Corporation's profile at www.sedar and on Troy's website

The Corporation further announces that Rick Wingate has been appointed Chief Executive Officer (in addition to his current role as President).  Jim Owen has tendered his resignation as Chief Executive Officer, but will continue to serve as Chief Financial Officer of the Corporation. 

Lastly, the Corporation announces the grant of 250,000 stock options to a director of the Corporation, with each such option being exercisable into one common share of the Corporation at a price of $0.10 for a period of five (5) years. 

Carl Verley, B.Sc., P.Geo., a Director of the Corporation has approved the technical information in this release. 

For additional corporate and YGP property information please see the Corporation's website:  www.troyenergycorp.com.  

Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements.  Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change.  The reader is cautioned not to place undue reliance on forward-looking statements.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Richard Wingate 
President and Chief Executive Officer
Phone: (306) 229-5029

James Owen, Troy Energy Corp. 
Chief Financial Officer 
Phone: (250) 465-1806

Neither 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 the release.

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