Tudor Gold Announces Filing of NI 43-101 Technical Report on the Updated Mineral

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2023) – Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (“Tudor Gold” or the “Company“) is pleased to announce the filing of the technical report (the “Report“) for the updated Mineral Resource Estimate on the Goldstorm Deposit (the “MRE” or “2023 Treaty Creek MRE“) at its flagship Treaty Creek Project (the “Project“) located in the Golden Triangle region of British Columbia. The Report is entitled “NI-43-101 Technical Report for the Treaty Creek Project”, with an effective date of April 28, 2023 and was prepared for Tudor Gold by Garth Kirkham Geosystems and JDS Energy & Mining Inc. (“JDS“). The Report is available under the Company’s profile on SEDAR at www.sedar.com or from the Company’s website at www.tudor-gold.com.

Highlights of the 2023 Treaty Creek MRE:

• 18.75 Moz of gold (Au) at 0.91 g/t, 112.44 Moz of silver (Ag) at 5.45 g/t, and 2.18 billion pounds (Blbs) of copper (Cu) at 0.15 %.

• 5.54 Moz Au at 0.74 g/t, 45.08 Moz Ag at 5.99 g/t, and 848.00 million pounds (Mlbs) of Cu at 0.16 %.

• Improved the definition and spatial continuity of the Goldstorm porphyry system which is comprised of six separate mineral domains over an area that measures approximately 2,500 m in length, 1,000 m in width and 1,400 m in depth.

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Table 1: Summary of Indicated and Inferred Mineral Resource as of March 15, 2023^1-5

(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
(2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(3) The Mineral Resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(4) The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 50-degree slopes) at a 0.5 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.7 g/t gold equivalent cut-off grade. Cut-off grades were derived from US$ 1,800/oz gold, US$ 20/oz silver, US$ 3.50/lb copper, CAD:USD of 0.77, C$ 2.50/tonne open pit and C$7.50 underground mining cost, C$ 38.50/tonne milled processing costs, C$ 1.50/tonne G&A cost, and process recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
(5) AuEQ g/t = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185).

The Goldstorm sensitivity tables (Tables 2 and 3) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.

Table 2: Indicated Mineral Resource Cut-off Sensitivity – Combined Pit and Underground¹

(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.5 g/t AuEQ for the pit-constrained Mineral Resource and 0.7 g/t AuEQ for the underground Mineral Resource.

Table 3: Inferred Mineral Resource Cut-off Sensitivity – Combined Pit and Underground¹