Tudor Gold Corp. (TSX-V: TUD) (FSE: H56) (OTC Pink: TDRRF) is pleased to set out its proposal to resolve the issues which have created a land use conflict between the planned Mitchell-Treaty Twinned Tunnels supporting Seabridge Gold Inc.’s KSM project and Tudor’s gold-copper Treaty Creek Project located in the Golden Triangle of northwestern British Columbia.

Summary

The approximately 22-kilometer Tunnels as currently conceived and partially permitted would be developed and routed directly through Treaty Creek’s Goldstorm Deposit. The Tunnels would also pierce Treaty Creek’s Perfectstorm Zone, a promising grassroots exploration target which has potential to exceed the Goldstorm Deposit in both tonnes and gold grade.

In May, Tudor offered a plan to Seabridge Gold Inc. and the Province of British Columbia for an alternative route for the Tunnels that would bypass the Goldstorm Deposit and Perfectstorm Zone to the north. Tudor believes its proposal supports the safe advance of both KSM and Treaty Creek, with the economic benefits of two mining projects accruing to the Province, versus only one, or none.

Treaty Creek and KSM Location and Proximity

The five deposits which comprise KSM and Treaty Creek’s Goldstorm Deposit are all located geologically along the Sulphurets Thrust Fault. The KSM deposits are located to the southwest of Treaty Creek, while the processing facilities to support the KSM deposits are located to the northeast of Treaty Creek, just beyond Treaty Creek’s claim boundary.

Map: Treaty Creek and KSM Location and Proximity

Treaty Creek’s gold, copper and silver Mineral Resources are hosted in the Goldstorm Deposit, which has had 190,000 meters drilled since 2016 and remains open in all directions. The Goldstorm Deposit currently hosts Indicated Mineral Resources of 21.66 million ounces of gold grading 0.92 g/t, 128.73 million ounces of silver grading 5.48 g/t and 2.872 million pounds of copper grading 0.18% and an Inferred Mineral Resource of 4.88 million ounces of gold grading 1.01 g/t, 28.97 million ounces of silver grading 6.02 g/t and 503.2 million pounds of copper grading 0.15%.

Treaty Creek hosts three other zones, Perfectstorm, CBS and Eureka, which have had minimal drilling to date in comparison to the Goldstorm Deposit. Perfectstorm, in particular, is believed to have the potential to exceed the Goldstorm Deposit in both tonnes and grade.

Impact of Tunnels to Tudor’s Treaty Creek Project

The approximately 12-kilometer length of the Tunnels (out of approximately 22-kilometer total length) that traverses the Treaty Creek claims directly collides with the Goldstorm Deposit.

Plan and Section and Views of Tunnels Impact to Goldstorm Deposit

Each of the twinned Tunnels measures roughly 5.9 meters by 5.5 meters in cross-section, and the Tunnels are expected to be surrounded by a significant buffer zone. Tudor will not be able to mine or explore within the diameter of the buffer zone. This restriction on mining eliminates any possibility of Tudor accessing the significant number of defined gold ounces sitting within the buffer zone and also impacts on the mining method and access points available to Tudor to mine the remainder of the Goldstorm Deposit. Based on Tudor’s projections for the Perfectstorm and CBS Zones, the Tunnels will have the same impact on each of these zones.

Proposed Alternate Route for Tunnels

In May of 2025, Tudor proposed an alternative route for the Tunnels that would shift the route of the Tunnels approximately one kilometer to the north, adding approximately 2.5 kilometers to the total length of the Tunnels. Currently, total KSM preproduction tunnel length is approximately 80.1 kilometers, including ancillary, ore handling and other excavations relating to the Tunnels as well as water tunnels. As a result, the alternative route would add approximately 3.1% to the total tunnel excavations – a relatively minor adjustment to a substantial infrastructure project. Tudor believes its proposal supports the safe advancement of both KSM and Treaty Creek, with the economic benefits of two mining projects accruing to the Province, versus only one, or none.

Tudor acknowledges that work needs to be done to confirm the feasibility of the proposed alternative route for the Tunnels; however, it believes the proposed alternative route would encounter similar or better ground conditions as the existing planned route as it passes through the same rocks and regional trends (but further to the north of the Sulphurets Fault) and likely the same geological faults. Moreover, as the Tunnels would run further to the north of the Sulphurets Fault, the excavations may have less chance of encountering potentially acid generating rock.

Tudor’s Proposed Alternate Alignment for KSM Tunnels

“Our management team joined Tudor in May to develop the strategy to advance Treaty Creek from exploration success to producer,” said Joe Ovsenek, President and CEO of Tudor Gold. “Drilling to date has consistently encountered higher-grading gold mineralization of two to three grams per tonne, which creates the possible opportunity for the development of an underground mine with a smaller footprint to kickstart gold production. We are looking forward to getting underground next year to prove up that option. And in addition to the defined Mineral Resource at Goldstorm, there is the compelling bluesky – Perfectstorm and the other grassroots-stage targets nearby which are showing significant promise. We are counting on the BC government to support the potential of Treaty Creek and not sacrifice it for the sake of KSM.”

The Legal Avenues to Protect Tudor’s Rights

Tudor’s preference is to negotiate with the Province of British Columbia and Seabridge to reach an agreement to modify the planned route of the Tunnels as described above.

However, in order to preserve Tudor’s rights as recorded holder of the mineral claims, Tudor has brought three proceedings in the British Columbia courts: an appeal of the decision of the Gold Commissioner in relation to a jurisdictional decision about a conditional mineral reserve and the Tunnels, a proceeding against the Province of British Columbia asserting the limited nature and scope of the conditional mineral reserve in relation to Tudor’s mineral claims, and a petition seeking judicial review of the decision of the Ministry of Water, Land and Resource Stewardship granting Seabridge a License of Occupation (“LoO”) in an area over certain of our claims.

2025-2026 Plans for Treaty Creek

Preparation of an updated Mineral Resource estimate for Treaty Creek is underway, which will include the additional drilling from 2024 and 2025 exploration programs comprising approximately 15,000 meters of drill data. The updated block model used to estimate the 2025 Mineral Resource will be comprised of 5mx5mx5m blocks rather than the 10mx10mx10m blocks used to estimate the 2024 Mineral Resource estimate. The smaller block size will provide better resolution of the higher-grade gold mineralization. The updated Mineral Resource estimate is targeted to be completed in the fourth quarter of this year.

On receipt of the permit for the development of an underground ramp (see news release dated August 14, 2025 in respect of the filing of the permit application) to access the high-grade gold SC-1 Zone and the other zones, Tudor plans to collar the portal, and commence the excavation of, the underground ramp. Subject to receipt of all necessary permits, Tudor plans to commence the underground excavation in the third quarter of 2026.

Tudor is assessing opportunities for increasing the gold Mineral Resources at Treaty Creek in 2026 by drilling other known zones on the property. In particular, Tudor plans to follow up on drill hole PS-23-10 at the Perfectstorm Zone, which intersected 1.23 g/t gold, 3.43 g/t silver and 0.01% copper over 102.15 meters, including 1.80 g/t gold, 5.76 g/t silver and 0.02 % copper over 42.5 meters. Tudor expects to firm up exploration plans for 2026 over the winter.

Data References

All data provided in this news release relating to the Seabridge KSM Project were derived from the “KSM (Kerr-Sulphurets-Mitchell) Prefeasibility Study and Preliminary Economic Assessment, NI 43-101 Technical Report,” dated August 8, 2022, which is available on SEDAR+ at www.sedarplus.ca and on Seabridge’s web site at www.seabridgegold.com. All data related to Treaty Creek can be found in “NI-43-101 Technical Report for the Treaty Creek Project”, dated April 5, 2024, which is available on SEDAR+ at www.sedarplus.ca and on Tudor’s web site at www.tudor-gold.com.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. The Goldstorm Deposit has an Indicated Mineral Resource of 21.66 million ounces gold grading 0.92 g/t, 2.87 billion pounds copper grading 0.18% and 128.73 million ounces silver grading 5.48 g/t and an Inferred Mineral Resource of 4.88 million ounces gold grading 1.01 g/t, 503.2 million pounds copper grading 0.15% and 28.97 million ounces silver grading 6.02 g/t, as disclosed in the “NI-43-101 Technical Report for the Treaty Creek Project”, dated April 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc. 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

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 an 80% interest) borders Seabridge Gold Inc.’s KSM property to the southwest and borders Newmont Corporation’s Brucejack Mine property to the southeast.