Tudor Gold Prepares for 2023 Exploration Program at Treaty Creek, Northwest British Columbia

The 2023 exploration program is anticipated to be comprised of a drill hole program totalling a minimum of 20,000 meters at the Goldstorm Deposit and will target the north and northeast mineral extensions where the 2021 and 2022 drill hole programs intercepted gold, copper and silver mineralization.  These results contributed to a significantly upgraded Mineral Resource Estimate recently announced by the Company in a news release dated March 15, 2023 (the “March News Release”), which reported an Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) grading 1.13 g/t AuEQ and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ. 

In addition to the drilling at the Goldstorm Deposit, the Company plans to carry out exploration drilling at the Perfectstorm Zone (“PSZ”) to follow up on six drill holes that were drilled in 2020 and 2021 which all intercepted gold and silver mineralization, highlighted by hole PS-21-06 which returned 118 meters of 0.66 g/t gold, 3.69 g/t silver and 31.5 meters of 0.84 g/t gold, 6.09 g/t silver.  PSZ is a gold-dominant mineralized system measuring 1.3 kilometers in strike length and is located approximately 2.5 kilometers southwest of the Goldstorm Deposit and approximately 2.5 kilometers northeast from Seabridge Gold’s Iron Cap Deposit near the southwestern boundary of the Treaty Claim block. 

Tudor Gold also announces that the Company has engaged Tad Crowie (P. Eng.) and JDS Energy and Mining to oversee metallurgical testing on the Goldstorm Deposit, which currently involves an expanded preliminary testing program performed by Blue Coast Metallurgy Ltd. Preliminary metallurgical testing reported to date by the Company has only been carried out on a small area of the 300 Horizon domain.  The expanded metallurgical study is anticipated to include broad testing of the CS-600 and DS5 domains and specifically includes material that was drilled in the 2021 and 2022 drill campaigns.  Tests will also be expanded on the 300H and Copper Belle domains to better understand the potential for metallurgical variability across the Goldstorm Deposit. Outcomes of metallurgical testing are expected to be announced once the results have been received and interpreted by the Company.

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is the Company’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the March News Release, the Goldstorm Deposit has an Indicated Mineral Resource (as defined in NI 43-101) of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43-101)  of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEQ and an underground cut-off of 0.7 g/t AuEQ. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEQ grading 1.10 g/t AuEQ (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEQ grading 1.19 g/t AuEQ (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

About Tudor Gold Corp.

Tudor Gold Corp. is a precious and base metals exploration and development company with claims in British Columbia’s Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which TUDOR GOLD has a 60% interest) borders Seabridge Gold Inc.’s KSM property to the southwest and borders Newcrest Mining’s Brucejack property to the southeast.

ON BEHALF OF THE BOARD OF DIRECTORS OF TUDOR GOLD CORP.

“Ken Konkin”

Ken Konkin
President and Chief Executive Officer

For further information, please visit the Company’s website at www.tudor-gold.com or contact:

Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com

or

Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@tudor-gold.com

Cautionary Note Regarding Forward-looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable Canadian Securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the timing of the commencement of the 2023 exploration program in early May, the drilling expectations of the Company in connection to the drill hole program on the Goldstorm Deposit and plans for the Company to complete drilling of the Goldstorm Deposit, exploration drilling at the PSZ and broad metallurgical testing of the CS-600, DS-5, 300H and Copper Bell domains in 2023, and the announcement of results of the Company’s expanded metallurgical study. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the commencement of the 2023 exploration program will be as anticipated by management, that the Company will complete the drilling of the Goldstorm Deposit as anticipated by management and that that plans for the Company to complete exploration drilling at the PSZ, broad metallurgical testing of the CS-600, DS-5, 300H and Copper Bell domains and announce the results of the Company’s expanded metallurgical study will be on the timeline anticipated by management.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include: that the Company will not commence the 2023 exploration program in early May as anticipated by management; the majority of the Inferred Mineral Resources cannot be upgraded to an Indicated Mineral Resource with continued exploration; that the Company will not complete the drilling of the Goldstorm Deposit; and that the Company will be unable to complete exploration drilling at the PSZ , broad metallurgical testing of the CS-600 and DS-5 Domains, 300H and Copper Bell domains and/or announce the results of its expanded metallurgical study on the timeline anticipated by management or at all and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

 The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.