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Highlights

- Announcement of the Company's 9th consecutive cash dividend set at a rate of 3 cents per share fully franked representing a yield of 2% based on closing price on August 27, 2008.

- A loss after tax and minorities of $17.6 million (FY2007: Profit of $20.1 million)

- Cash reserves at the end of July 2008 of A$60 million which represents $0.80 per fully diluted Troy share or over 50% of Troy's current market capitalisation

- Annual gold production of 40,318oz (FY 2007: 105,723 oz)

- Ramping up of Andorinhas Gold Mine to full production.

- Aggressive investment in future growth through exploration and iron ore feasibility study being undertaken

- Post the close of the 2008 financial year, Troy announced the sale of its stake in Comaplex Minerals Corp. for net proceeds of $48 million representing a gain of 77% on its initial investment of $27 million. Troy will book a profit of $21 million in FY2009.

- Troy also retains a "top up" exposure should Agnico Eagle increase its interest in Comaplex above 50% within 18 months of the deal being signed.

- The Andorinhas colluvial iron ore resource statement nearing completion.

- Commencement of a process for the sale of the Sandstone assets

Troy Resources NL ("Troy") today announced a loss of $17.6m for the financial year ended 30 June 2008. This result compares to a profit of $20.1m in FY 2007.

In recognition of the fact the Board sees 2008 as an anomaly and expects the Company to return to profitability in FY 2009, the Company has announced that it will continue to pay a dividend this year - its 9th consecutive cash dividend payment. The Company has declared a fully franked dividend of 3.0 cents per share (FY2007: 7.5 cents). The record date for entitlement to the dividend is 19 September and will be paid on 10 October 2008. This represents a yield of 2% based on the share price on August 21 2008.

The loss for the year came from gold production of 40,318 oz and gold sales revenue of $39.7m (FY2007: 105,723 oz and $91.8m). The year represents a transition as the Company's Sertao mine in Brazil closed and the Sandstone operation in Australia moved to low grade stockpiles while Troy's new gold mine in Brazil, Andorinhas, continued to ramp up towards full production.

The result was achieved after allowing $11.0 million for exploration expenditure (FY2007: $7.4m) and $5.1 million for depreciation and amortization (FY2007: $7.8m). It is important to note that Troy has an aggressive exploration program aimed at increasing reserves and resources and nearly all of this expenditure is expensed.

In July, after the close of the financial year, Troy announced the sale of its investment in Comaplex Minerals Corp, a TSX listed explorer, to Agnico Eagle.