Troy Resources Limited provided an update of exploration activities at the Company's wholly-owned Karouni Project, Guyana. In Troy's Exploration Update announced to the market on 4 January 2021, the company advised that diamond drilling had commenced on the first of four deep holes at Smarts Underground. These holes had been requested by the consultant undertaking the resource/reserve mapping work for the Company with a view to both increasing confidence in that part of the modelled resource, as well as investigating the continuity of mineralisation between the modelled Smarts 2 and 3 ore shoots. As illustrated, the additional drilling undertaken has demonstrated the continuation of mineralisation in the gap between the Smarts 3 pit and the Smarts Underground. In addition, the 2014 Mineral Resource was extended towards the surface beneath the Smarts 3 pit ramp. In the meantime, geotechnical and design work as well as economic assessment of Smarts Underground has been completed to scoping study level. The Company will shortly be in a position to announce to the market an upgraded Mineral Resource and an inaugural Ore Reserve for the Smarts Underground, as well as the key economic parameters. Located approximately 13 kilometres from the Karouni Mill, the Goldstar Prospect covers a strike length of approximately 2,600 metres with gold mineralisation occurring essentially from surface. Troy is currently mapping 25,500 ounces in Mineral Resources at Goldstar based on a strike length of approximately 500 metres. In Troy's Exploration Update announced to the market on 7 December 2020, the company advised that the Company had commenced a reverse circulation (RC) drilling campaign to reduce line spacing to 15 metres providing close-spaced data for an updated Mineral Resource estimate and, hopefully, the mapping of a maiden Ore Reserve. The drilling was not expected to increase the current Mineral Resource in terms of contained ounces but rather to increase confidence levels. The drilling campaign is now completed with 104 holes drilled for an aggregate 7,048 metres, or an average depth of approximately 70 metres per hole. Mineralisation appears as though it may be contained within a series of three discrete WNW (290 degrees) striking zones which are related to the latest deformation within the overall NW striking shear structure. Wide, low-grade intersections close to surface suggest that gold dispersion has taken place within the weathered zone. The widest and higher-grade intersections are found in the completely oxidised zone. Resource modelling is continuing after which an assessment of the mining potential will take place. Meanwhile, work to connect Goldstar to the previously completed Karouni ­ Ohio Creek haul road is almost 95% complete and can become a new ore source for the Karouni Mill. Gem Creek, located NW of Goldstar along strike has previously been identified by Troy as a highly prospective greenfields target. In April 2020, the Company commenced an RC drilling campaign at Gem Creek. Since then, a total of 119 holes for an aggregate 11,627 metres have been drilled. Results of the first phase of the campaign were announced to the market on 3 August 2020, with the best of them being: GCRC53 ­ 3 m @ 2.72 g/t Au from 44m; GCRC60 ­ 13 m @ 3.21 g/t Au from 84 m, including 4 m @ 7.62 g/t Au from 86 m. The second phase of the campaign recommenced in February after a break of eight months. The drill campaign was completed for 48 holes ­ GCRC072 to GCRC119 ­ for an aggregate 4,297 metres. Of results obtained so far, the best of them occurs in GCRC083 including: 11 m @ 1.90 g/t Au from 80 m; 6 m @ 7.30 g/t Au from 102 m. Assay results from the remaining holes will be received and published in due course. In addition, the Company has recently completed four diamond holes ­ GCDD001 to GCDD004 ­ at Gem Creek, drilled to depths between 151.5 metres and 302 metres respectively, with a view to not only identify mineralisation but also to provide an understanding of geological structure at this location.