Troy Sells Comaplex Shareholding

PERTH, WESTERN AUSTRALIA--(Marketwire - July 20, 2008) -

Troy Resources NL ("Troy") (TSX:TRY)(ASX:TRY) is pleased to announce that it has completed its previously announced sale of its 7,628,571 shares in TSX listed Comaplex Minerals Corp. ("Comaplex") to Agnico-Eagle Mines Limited ("Agnico-Eagle") for C$6.15 per share for total proceeds of C$46.9 million (approximately A$47.9 million) and the funds have been received.

As part of the transaction Troy also has a "Top Up" agreement with Agnico-Eagle where, if Agnico-Eagle move to a majority interest in Comaplex within 18 months of this agreement, Agnico-Eagle will pay Troy the difference between their final purchase price per share and this transaction price of C$6.15 per share.

Troy purchased its stake in Comaplex in January 2007 for A$27 million or approximately A$3.53 per share and thus this sale represents a gain of approximately A$2.73 per share or 77%.

Caution Regarding Forward Looking Statements: This report contains forward-looking statements. These forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold and iron ore, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations. There can be no assurance that Troy will obtain a new project or be able to profitably make use of its Cobar gold processing plant.