Tudor Gold Corp. (TSX-V: TUD) (FSE: H56) is pleased to present the following review of its 2023 drill program completed at its Treaty Creek gold-copper project located in the Golden Triangle Mining Region of Northwestern British Columbia.

The Program consisted of a total of 31,904 meters drilled over 25 holes within the Goldstorm Deposit and 8 holes at the Perfectstorm Zone. The primary focus of drilling within the Goldstorm area was twofold: to upgrade as much of the Inferred Mineral Resources to the Indicated Mineral Resource category and to extend the boundaries of the deposit towards the north and northeast. Drilling at PSZ concentrated on expanding on the known mineralized zone by targeting both the southwestern and northeastern regions, which are approximately 1500 m apart.

Highlights of the Program include:

• Step-out and infill drilling continued to consistently intersect strong gold, copper and silver mineralization outside the previously defined resource area of the Goldstorm Deposit to depth and along the northeastern axis by 250 m to 350 m to the north and northeast;
• Drilled a number of new high-grade intercepts within and outside the boundaries of the Goldstorm Deposit. Notably, hole GS-23-179, a 200 m step-out to the northeast of the CS-600 Domain. This hole returned an intercept of 525.0 m of 1.01 g/t AuEQ (0.85 g/t Au, 1.94 g/t Ag, 0.13 % Cu) which included a higher-grade interval of 223.5 m of 1.42 g/t AuEQ (1.16 g/t Au, 2.25 g/t Ag, 0.19 % Cu) that included 43.5 m of 3.73 g/t AuEQ (3.52 g/t Au, 2.18 g/t Ag, 0.16 % Cu) and 12.0 m of 10.07 g/t AuEQ (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu);¹
• Encountered stronger than expected copper grades within the CS-600 Domain of the Goldstorm Deposit, notably hole GS-23-168-W1, which targeted the deep, northwest portion of the CS-600 Domain. The hole intersected an area classified as an Inferred Mineral Resource in the previous Mineral Resource Estimate. Prior to entering the CS-600, a mineralized section of 75.0 m of 1.34 g/t AuEQ (1.27 g/t Au, 5.89 g/t Ag, 0.01 % Cu) was cut, and this is interpreted to be the 300H Domain, or related mineral system. A long intercept of CS-600 included 296.0 m of 1.11 g/t AuEQ (0.65 g/t Au, 5.03 g/t Ag, 0.35 % Cu) with an enriched intercept of 102.0 m grading 1.30 g/t AuEQ (0.64 g/t Au, 7.39 g/t Ag, 0.50 % Cu);²
• Identified a new mineralized area named SC-1 situated in the northern sector of the Goldstorm Deposit, within the CS-600. This recently identified zone boasts higher-grade gold concentrations and comprises three drill holes, with two completed towards the end of the 2023 exploration campaign. The initial drill hole, GS-22-134, yielded promising results in 2022, returned 20.86 g/t AuEQ over 4.5 m within a 25.5 m section of 9.96 AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24 % Cu). Drill-hole GS-23-176-W1, completed in 2023 and specifically designed as an offset step-out hole returned 15.64 g/t AuEQ over 15.0 m (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu). Additionally, GS-23-179, a northeast step-out hole also completed in 2023 to trace SC-1 up-dip from GS-22-134 and GS-23-176-W1, returned 10.07 g/t AuEQ over 12.0 m (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu). Presently, the high-grade gold-bearing breccia stockwork system extends approximately 400 m down plunge and over 300 m along a northeastern axis. The exact width of the mineralized structure remains undetermined at this stage;³
• 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 2,400 m in length, 1,300 m in width and 1,500 m in depth. The Goldstorm Deposit remains open to the south, north, northeast and at depth;
• Confirmed the existence of PSZ with holes spaced over a distance of 1,500 meters. PS-23-10, the most notable drill hole from this program intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to the northeast, and Seabridge Gold’s Iron-Cap Deposit, 2.5 km to the southwest.⁴

Results from the Program are expected to be included in the next updated Mineral Resource Estimate on the Goldstorm Deposit, which is anticipated to be released in the first quarter of 2024.

Tudor Gold’s objective is to optimize the current Mineral Resource by concentrating on higher grades to increase the overall quality of gold, silver, and copper resources. As a result, the Company is focused on delivering an enhanced Mineral Resource Estimate on the Goldstorm Deposit which will improve the overall prospects of the Treaty Creek Project as it advances towards a Preliminary Economic Assessment (PEA).

At-The-Market Equity Program

The Company also announces that it has established an “at-the-market” equity distribution program. The ATM Program allows Tudor to issue and sell, at its discretion, common shares in the capital of Tudor that would have the aggregate sales amount of up to $20,000,000, to the public from time to time through Research Capital Corporation, acting as the agent. All Common Shares sold under the ATM Program will be sold at the prevailing market price at the time of the sale, directly through the TSX Venture Exchange or any other recognized marketplace upon which the Common Shares are listed, quoted or otherwise traded in Canada. Tudor currently intends to use the net proceeds from the ATM Program to the extent raised, principally to advance the exploration and economic assessment of the Treaty Creek Project and for general working capital purposes but may also use net proceeds to fund all or a portion of the price of an acquisition.

Distribution of Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement dated February 13, 2024 entered into between Tudor and the Agent.

The ATM Program will be effective until the earlier of: (i) the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program; and (ii) September 8, 2025, unless terminated prior to such date by Tudor or the Agent. As Common Shares sold in the ATM Program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of distribution.

The offering under the ATM Program is qualified by a prospectus supplement dated February 13, 2024 to Tudor’s final short form base shelf prospectus filed in all of the provinces and territories of Canada, dated August 2, 2023. Copies of the Equity Distribution Agreement, the Prospectus Supplement and the Base Shelf Prospectus may be obtained on request, without charge, from the Corporate Secretary of Tudor Gold Corp. at 789-999 West Hastings Street, Vancouver, British Columbia, Canada V6C 2W2 (Telephone (604)-559-8092) and are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the “United States” or to, or for the account or benefit of, persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws.

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information and has verified the data that forms the basis for the disclosure contained in this news release.

QA/QC

Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

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. As disclosed in the “NI-43-101 Technical Report for the Treaty Creek Project”, dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource 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 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.

¹ AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)

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 a 60% interest) borders Seabridge Gold Inc.’s KSM property to the southwest and borders Newmont Corporation’s Brucejack property to the southeast.

¹ Refer to the Company’s news release issued on November 21, 2023.

² Refer to the Company’s news release issued on July 10, 2023.

³ Refer to the Company’s news release issued on February 1, 2024.

⁴ Refer to the Company’s news release issued on October 31, 2023.