January 7, 2021
Vancouver, B.C.

TUDOR GOLD intersects 3.286 GPT AUEQ over 82.5 meters within 531.0 meters of 0.999 GPT AUEQ (hole GS-20-92) and 1.112 GPT AUEQ over 532.5 meters within 1,033.5 meters of 0.856 GPT AUEQ (hole GS-20-91) in the 300 HORIZON of the Goldstorm Zone at Treaty Creek

VANCOUVER, BC, January 7th, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to present results for the last set of diamond drill holes for the Goldstorm Zone at their flagship property, Treaty Creek. The project is located within the heart of the Golden Triangle of Northwestern British Columbia which is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Zone. Results from sampling of 9,621.7 meters of HQ and NQ2 core, from 11 diamond drill holes, have recently been received from MSA Labs. Tudor Gold has completed 50 diamond drill holes at the Goldstorm System (GS) and three diamond drill holes at the Perfect Storm Zone (PSZ), for respective totals of approximately 44,000 meters (GS) and 1,600 meters (PSZ) during the 2020 exploration season.  It was necessary to abandon two of the final drill holes as ground conditions prevented the safe completion of GS-20-99 and GS-20-101 late in the season, however, significant gold and silver mineralization was encountered in GS-20-99 (0.647 gpt AuEq over 109.5 meters) and this hole ended in strong stockwork within the DS5 System. Unfortunately drill hole GS-20-101 was abandoned before intersecting the area of the intended target and this hole will be re-drilled in 2021. From the remaining 51 drill holes, all but one were successful in intersecting the intended targets.

 

Tudor Gold’s Vice President of Project Development, Ken Konkin, P.Geo., states: “We are very pleased with the results obtained from our 2020 exploration program and we anticipate the completion of an initial resource estimate over the next few months. We are also determined to continue the exploration efforts in 2021 to better define and potentially expand the Goldstorm and Perfect Storm Systems. It was not possible to attempt drilling at some of our high priority exploration targets due to the rapid accumulation of snow in late November and December that caused avalanche hazards, therefore, these sites remain as excellent drill targets. We have since received our explosives permit and have purchased an explosives magazine so our avalanche teams can now safely remove snow build-up for the up-coming exploration season. Our goal is to again have a late spring start-up so that we can effectively prepare the slopes to allow drilling in the northeast area of the Goldstorm System that was not completed in 2020. The Au-Ag-Cu mineralization remains open to the northeast and to the southeast, with the possible exception of section 114+00 NE, where the easternmost drill hole (GS-20-102) may have defined the southeast limit in that area.”

 

Goldstorm Highlights include:

  • Eleven diamond drill holes in this release totalling 9,621.7 meters; the favorable composite results are listed in Table 1 below.
  • Best near-surface intercept was from the 300 Horizon in GS-20-91 on Section 112+50 NE that averaged 0.856 gpt AuEq over 1033.5 meters (60.0-1093.5 m) containing an enriched portion of 532.5 meters (60.0-592.5 m) that averaged 1.112 gpt AuEq.
  • GS-20-92 also had a remarkable 82.5 meter intercept (213.0-295.5 m) of 3.286 gpt AuEq within the 300 Horizon, which is the highest grade gold composite interval drilled to date on the project. This lies within a longer intercept of 531.0 meters (90.0-621.0 m) averaging 0.999 gpt AuEq
  • An aggressive 150 meter step-out drill hole (GS-20-99) extended the DS-5 Zone further to southeast on section 115+50 NE. The intercept averaged 0.647 gpt AuEq over 109.5 meters (855.5-965.0 m). The hole was lost at 965.0 meters in strong stockwork and DS5-type mineralization. The system remains open to the northeast and southeast along Section 115+50 NE.

The following two tables below provide the complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth.

Table l: Gold equivalent composite values from eleven Goldstorm Zone drill holes

SectionHoleZoneFromToInterval (m)AuAgCuAuEq
108+00 NEGS-20-100300H29.0600.5571.50.5212.951730.582
including402.5555.5153.00.7956.001840.895
109+00 NEGS-20-95300H12.0256.5244.50.6711.981650.719
CS600412.5559.5147.00.5621.033450.625
GS-20-98300H10.5282.0271.50.7171.94960.755
including10.5214.5204.00.8502.391080.895
112+50 NEGS-20-87300H85.5277.5192.00.8944.031310.962
and337.5348.010.51.4445.491431.531
CS600517.5663.0145.50.4618.2426890.958
DS5702.0804.0102.00.8204.081410.890
GS-20-91300H60.01093.51033.50.7594.662750.856
including60.0909.0849.00.8283.672920.916
or including60.0592.5532.51.0183.713341.112
114+00 NEGS-20-84300H167.0179.012.00.4675.99560.547
CS600524.0690.5166.50.3229.4825020.807
DS5930.51019.088.50.57612.492250.760
GS-20-92300H90.01020.0930.00.6371.721600.682
including90.0621.0531.00.9441.962130.999
and including213.0295.582.53.2203.741443.286
GS-20-102No Significant Values
115+50 NEGS-20-88300H178.5444.0265.50.6421.37790.670
and519.0582.063.00.8911.501100.925
and640.5681.040.50.6712.395880.787
CS600748.5898.5150.00.3021.6222260.651
DS51162.51432.5270.00.4662.84910.514
GS-20-99*DS5855.5965.0109.50.5496.811060.647
117+00 NEGS-20-101*lost holere-drillin 2021

* Lost hole

  • All assay values are uncut and intervals reflect drilled intercept lengths.
  • HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals
  • The following metal prices were used to calculate the Au Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). All metals are reported in USD and calculations do not consider metal recoveries.
  • True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Table ll: Drill Data for Holes for Press Release January 7th, 2021

SectionHole IDUTM E NAD83UTM N NAD83Elevation (m)Azi (°)Dip (°)Depth (m)
108+00 NEGS-20-100428355.06272668.21301.1295-55812.0
109+00 NEGS-20-95428415.86272747.31289.3115-57582.0
GS-20-98428413.96272748.11290.1115-68534.0
112+50 NEGS-20-87428541.36273076.81366.1115-60937.7
GS-20-91428667.06273018.01287.0287-501191.0
114+00 NEGS-20-84428659.16273197.51368.7115-691064.0
GS-20-92428810.86273080.11255.6287-451023.0
GS-20-102429094.66272944.21234.1290-90725.0
115+50 NEGS-20-88428781.46273288.41345.1295-751440.0
GS-20-99*429128.76273106.31223.7290-85965.0
117+00 NEGS-20-101*429226.76273216.61211.0290-90348.0

* Lost hole

Attached are Sections 108+00 NE, 109+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holes traces with gold and copper histogram results and a Plan Map showing the drill hole and section locations.

Goldstorm Zone
Plan View Map

Walter Storm, President and CEO, stated: “Our goal for Tudor Gold is to fast-track the exploration of our flagship Treaty Creek Project. We continue to advance the project on several fronts including completing our initial metallurgical work on the Goldstorm System, for which an update will be issued later this month. In addition, we recently completed the first year of an on-going water sampling program and purchased a climate station that will monitor on-site environmental conditions, providing the data required for base-line studies. Furthermore, we are preparing a winter access plan to start the 2021 exploration season as soon as the major snowfall season comes to an end in the coming spring. This approach worked extremely well for our start-up team that was able to walk-in heavy equipment on the snowpack in 2020, allowing us to start drilling much earlier than previous years. In so doing, we hit a corporate-best for drilling this past year with the completion of 53 drill holes totalling over 45,600 meters. We thank our team of men and women who worked safely and diligently during these extremely difficult conditions.”

 

Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those who are at the project site and staging site, we have strict daily monitoring of the workers’ temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers.

 

QA/QC

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.

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s Vice President Project Development, 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 TUDOR GOLD

TUDOR GOLD is a precious and base metals explorer with properties in British Columbia’s Golden Triangle, 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 Pretium Resources Inc.’s Brucejack property to the southeast. The Company also has a 100% interest in the Electrum Project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.

Contact Information

Carsten Ringler

Head of Investor Relations and Communications

Phone:+1 604 559 8092 or +49 151 55362000

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.

Cautionary Statements regarding Forward-Looking Information

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 completion and anticipated results of planned exploration activities. 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 connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company’s planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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 risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals 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.