Troymet Exploration announces financing

Kieran Downes, President and Chief Executive Officer of Troymet announces that Troymet intends to complete a non-brokered private placement of up to 16,250,000 units (each a “Unit”) at a price of $0.08 per Unit for gross proceeds of up to $1,300,000.

Each Unit will consist of one common share (“Common Share”) and one full common share purchase warrant (“Warrant”).

Each Warrant is exercisable into one Common Share at $0.20 per share for two years from the issuance of such Warrant.

A finder’s fee of up to 10% of the gross proceeds of the private placement may be paid on all or any portion of this private placement.

It is not anticipated that any new insiders will be created, nor that any change of control will occur, as a result of the private placement.

Completion of the private placement is subject to regulatory approval. Proceeds of the private placement will be used to carry out exploration and development on Troymet’s current properties and for general working capital.

The Company has scheduled a diamond drilling program on the Golden Eagle property in northern BC for the upcoming field season.