Troy Resources Limited announced to provide an update of exploration activities at the Company's wholly-owned Karouni Project, Guyana. 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 1,000 metres. However, with the existing Mineral Resource based on wide-spaced drill lines, the Company considers significant potential exists to grow the Mineral Resource by increasing drilling density. Recent assay results from samples obtaining by way of trenching (and, hence, the samples are from surface) have achieved excellent results. Additional trenching results are outstanding. In the 7 December 2020 announcement to the ASX, the Company advised that an infill reverse circulation (RC) drilling program was underway. Encompassing 71 holes for an aggregate 5,581 metres and targeting a strike length of approximately 500 metres, mineralisation in the area is known to occur over a width in the range of approximately 5 to 15 metres. The purpose of the current program is to reduce line spacing to 15 metres and intercepts to 10 vertical meters, in so doing, upgrade the Mineral Resource and, hopefully, the mapping of a maiden Ore Reserve. The work was expected to take four or so weeks to complete. To date, 51 holes have been completed for an aggregate 4,009 metres drilled, or an average depth of approximately 79 metres per hole. Ten holes will not be drilled due to location problems with collars which will reduce the total program by an aggregate of approximately 800 metres. Best results to date include: GRC211 ­ 3 m @ 6.03 g/t Au from 76 m; GRC223 ­ 4 m @ 24.52 g/t Au from 14 m; GRC235 ­ 16 m @ 1.42 g/t Au from 16 m; GRC250 ­ 10 m @ 2.09 g/t Au from 1 m; and GRC255 ­ 27 m @ 1.20 g/t Au from 9 m. Troy has also recently completed three diamond holes for an aggregate 575 metres, drilled for the purposes of gaining a better understanding of the geology and controls on mineralisation. Assay results from both holes are yet to be received. However, all three holes intersected a sequence of highly strained to strong sheared MgO Basalts intersected by feldspar and dolerite dykes. The shear veins are mostly quartz-dolomite, whereas fine and coarser disseminated pyrites and calcite are related to silicified and sericite altered feldspar porphyries. The dolerite dykes within the sheared MgO basalts are cut by several quartz veins with albite+pyrite+calcite alteration. The abundant disseminated pyrite occurs in the veins and in the wall rock. These settings are very similar to those encountered at the Smarts and Hicks deposits located approximately five kilometres to the south. Mineralisation is currently mapped over a strike length of approximately 500 metres and an average width of approximately 10 metres. As such, Goldstar is appearing as a relatively long, wide, mineralised zone that outcrops at surface. Mineralisation appears as though it may be contained within a series of discrete WNW (290 degrees) striking zones which are related to the latest deformation within the overall NW striking shear structure. Mineralisation remains open at depth. Wide, low-grade intersections close to surface suggest that gold dispersion has taken place within the weathered zone. Early indications are that Goldstar may lend itself to bulk mining. Work will continue apace at Goldstar in the New Year. A large number of assays are currently outstanding, with results most likely to be received by the Company by the end of December or early January. An upgraded Mineral Resource and (hopefully) maiden Ore Reserve will be mapped at that time. Meanwhile, work to connect Goldstar to the previously completed Karouni ­ Ohio Creek haul road is nearing completion. With the recent success from drilling at Smarts Underground, Troy recently committed to a diamond drilling program at Smart NW, along strike to the north-west. Here, high-grade mineralisation has been identified from previous drilling campaigns over a strike length of approximately 600 metres. As announced to the ASX on 7 December 2020, the new program, designed to infill previous drill lines and test extensional potential, was expected to encompass nine holes for an aggregate 1,600 metres, or an average of approximately 180 metres per hole. To date, eight of the nine holes have been drilled. Best assay results received to date include: SDD201 ­ 13 m @ 2.52 g/t Au from 99 m; SDD199 ­ 7 m @ 4.66 g/t Au from 112 m; and SDD197 ­ 8 m @ 3.76 g/t Au from 109 m. Assay results for SDD202 are pending. The interval 119.9-122.8m assayed 3.08 g/t Au. The assay interval including the pictured visible gold (121m-122m) assayed 4.09 g/t Au indicating the nuggety distribution of gold. While all the holes from the latest program intersected the main shear zone at the expected location, not all returned high gold grades. This was certainly the case for SDD195, SDD198 and SDD200 which did not intersect strong silica+albite+tourmaline alteration and euhedral pyrite typical of high- grade gold mineralisation in this area. The diamond drill rig recently returned to Smarts Underground, having completed the work scheduled at Goldstar. As set out in the 7 December 2020 announcement, four additional deep holes were requested by the consultant undertaking the resource/reserve mapping work to increase confidence in that part of the modelled Resource which they will traverse as well as investigate the continuity of mineralization between the modelled Smarts 2 and 3 ore shoots. One hole was completed prior to the cessation of work over the Christmas/New year holiday period, during which time the drill rigs will be overhauled. The three remaining holes, as well as additional holes requested by the geotechnical consultant, will be completed as soon as drilling recommences in the New Year. At this time, no new assay results are available from holes drilled at Smarts Underground. In the meantime, design work and economic assessment has been completed to scoping study level.