July 9, 2020
Vancouver, B.C.

TUDOR GOLD DRILLS NEW BEST INTERCEPT FOR TREATY CREEK PROPERTY AVERAGING 0.845 gpt AuEq OVER 973 METERS FROM HOLE GS-20-57, INCLUDING 1.40 gpt AuEq OVER 217.5 METERS

TUDOR GOLD Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “TUDOR GOLD”) is pleased to announce that it has completed the first set of diamond drill holes at their flagship property, Treaty Creek located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling is progressing very well on the Goldstorm Zone which is on-trend from Seabridges’ KSM Project located five kilometers southwest of our Goldstorm system. Two additional drills have been mobilized to the project to bring the total to four diamond drill rigs.  Tudor Gold intends to extend the diamond drill hole program up to possibly 35,000 meters from the original plan of 20,000 meters and is fully funded to do so. The initial drilling this season has yet to delineate the limits of the Goldstorm system as it remains open in all directions and to depth.

TUDOR GOLD’s Vice President of Project Development, Ken Konkin, P.Geo., states: “The priority was to expand the Goldstorm System to the southeast and to the northeast, however drilling began in the central and southwest areas where grades were weaker within the overall system.  The objective was to either expand the known area of mineralization or to define its limits. We were pleasantly surprised to see the strength of mineralization encountered in drill hole GS-20-57 which has an enriched interval that averages 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters).  The entire intercept has a composite average of 0.845 gpt AuEq over 973.05m (34.50 to 1077.55 meters). We were confident that we could surpass our former best intercept of GS-19-47 with 0.697 gpt AuEq over 1081.5 meters, but we never thought we’d find such a wide extent of mineralization in the central-southwest portion of the system.  As well, we attempted to expand the limits in the southeast part of the system where we had some elevated spikes in gold grades from our 2019 drilling. Two of our first five drill holes cut Visible Gold in holes GS-20-55 and GS-20-58 on Section 110+00 NE. The highest gold value was from GS-20-55 with 37.7 gpt Au and 44.8 gpt Ag over 1.0 meter (428.5 to 429.5 meters). The native gold occurrences both came from the CS-600 Zone which has an enriched portion that averages 1.34 gpt AuEq over 69.0 meters from 360.5 to 429.5 meters. The northeastern extension to Goldstorm is the main event of this program and we will begin drilling this area in mid-July.”

 

 

Ken Konkin, P.Geo adds: “The current known length of the northeast axis of the Goldstorm System is over 850 meters long and the southeast axis is at least 600m across, and it remains open in all directions and to depth. Apart from GS-20-57, the strongest mineralization encountered to date is from the two consecutive 150m step-out holes drilled to the northeast in 2019: GS-19-42 yielded 0.849 g/t Au Eq over 780 m within the 300 Horizon including 1.275 g/t Au Eq over 370.5m, and GS-19-47 yielded 0.697 g/t Au Eq over 1,081.5m within the 300 Horizon including 0.867 g/t Au Eq over 301.5m. The exploration program will now be focused on expanding mineralization from these two exceptional step-out holes with three drills. We plan to continue stepping forward along the NE axis with yet another 150 meter step out hole, as well as fill-in drilling from the sites of GS-19-42 and GS-20-47. The geological model is evolving; it is apparent that there have been several pulses or phases of stronger gold, copper and silver mineralization that give the Goldstorm System its nebulous shape of interconnected disseminated and veinlet stockworks. It is clear that we also need to expand drilling to the southwest given the results obtained from GS-20-57. The plan includes drilling beneath the GS-20-57 intercept with hopes of expanding the excellent results obtained within this portion of the Goldstorm System.”

The two tables below provide the complete list of drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth. The four sections included at the bottom of the news release and on the Company’s website show the new drill holes plotted on their respective sections.

Table l: Gold equivalent composite values from the first nine holes of the 2020 drilling program in the Goldstorm Zone.

SectionHorizonHole_IDFromToInterval (m)Au g/tAg g/tCu ppmAu Eq g/t
110+00 NE300GS-20-5473.95195.5121.550.6333.392180.706
110+00 NE300 +CS600GS-20-55290.0446.0156.00.6742.959560.852
110+00 NECS600GS-20-55360.5429.569.01.1721.699851.338
110+00 NE300GS-20-5734.51007.55973.050.7753.002260.845
110+00 NE300GS-20-57 incl544.5904.5360.01.0513.101221.107
110+00 NE300GS-20-57 or incl544.5762.0217.51.3383.321501.400
110+00 NE300GS-20-58107.0394.5287.50.3510.991190.380
110+00 NE300+CS600GS-20-6024.0666.0642.00.5922.154970.691
110+00 NE300GS-20-60 incl24.0190.0166.01.1442.091051.185
110+00 NECS600GS-20-60 & incl588.0666.078.00.5097.4530101.045
111+00 NE300GS-19-56159.0172.513.51.0545.57981.136
111+00 NECS600GS-19-59139.0398.0259.00.3286.9918090.680
111+00 NECS600GS-19-59 incl142.0273.0131.00.35110.9927770.894
112+50 NECS600GS-20-61116.0363.5247.50.3988.5126900.899
112+50 NECS600GS-20-61 incl116.0321.5205.50.4538.5631291.020
114+00 NECS600GS-20-62143.0371.0228.00.3563.537290.507
114+00 NECS600GS-20-62 incl143.0206.063.00.7582.7611350.960

Table l: Gold equivalent composite values from the first nine holes of the 2020 drilling program in the Goldstorm Zone.

  • 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 lI Drill hole data for the first nine holes of the 2020 drilling program in the Goldstorm Zone.

ZoneSectionHole IDNorthing UTM_N83_Z9Easting UTM-N83_Z9Elevation (m)Azimuth (m)Inclin.Depth (m)
Goldstorm110+00 NEGS-20-54428592.96272766.31274.53120-90270
Goldstorm110+00 NEGS-20-55428664.96272728.51275.78300-90576.4
Goldstorm111+00 NEGS-20-56428660.26272839.81267.97120-90195
Goldstorm110+00 NEGS-20-57428529.36272813.91277.84300-601026
Goldstorm110+00 NEGS-20-58428757.16272676.61277.62120-90506
Goldstorm111+00 NEGS-20-59428789.7676272773.41266.43120-90476
Goldstorm110+00 NEGS-20-60428530.97662728121277302-88765
Goldstorm112+50 NEGS-20-61428883.96272891.91250.99120-90449
Goldstorm114+00 NEGS-20-62428953.7456273025.21237.03290-90449

Table lI Drill hole data for the first nine holes of the 2020 drilling program in the Goldstorm Zone.

Given the excellent results obtained from the initial nine drill holes, we are very excited with the potential that lies ahead when we start drilling the priority northeastern portion of the Goldstorm target. Our commitment remains strong to publish a resource estimate at the end of this year. We will do what it takes to accomplish this, we have the necessary funds and an extremely competent technical team to achieve our goals. We have taken, and continue to take, precautions to maintain a healthy and COVID-19 free working environment.

Walter Storm, President and CEO

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.

Goldstorm Zone
Planview

Goldstorm Zone
Section 110+00 NE

Goldstorm Zone
Section 111+00 NE

Goldstorm Zone
Section GS 112+50 NE

Goldstorm Zone
Section 114+00 NE

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

Catalin Kilofliski

Director Corporate Development and Communications

Phone:+1 604 559 8092

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.