• Consists of a large land package of 17,913 hectares in the Golden Triangle of British Columbia;
• Excellent proximity to infrastructure. Treaty Creek is located approximately 20 km west of highway 37 and a high voltage power line; 40 km south of a maintained airstrip and close to deep water ocean port facilities in Stewart, BC;
• The current 43-101 (March 2023) Mineral Resource Estimate outlines an Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) within 641.93 million tonnes (Mt) at a grade of 1.13 g/t AuEQ  including an Inferred Mineral Resource of 7.35 Moz AuEQ within 233.90 Mt at an average grade of 0.98 g/t AuEQ (see table below for details);
• The Goldstorm Deposit measures over a strike length of 1,800 m and has been traced vertically to a depth of 1,400 m. The deposit remains open in all directions and depth;
• Drill highlights to date at the Goldstorm Zone include:
  • GS- 21-113-W2: 1,497.0 m of 1.12 g/t AuEq including 732.0 m of 1.60 g/t AuEq (0.91 g/t Au, 3.7 g/t Ag, 0.53% Cu)
  • GS-20-94: 1,225.5 m of 0.70 g/t AuEq (0.646 g/t Au, 2.50 g/t Ag, 0.018% Cu) including 354.0 m of 1.21 g/t AuEq (1.123 g/t Au, 4.14 g/t Ag, 0.029% Cu)
  • GS-20-92: 531.0 m of 0.99 g/t AuEq (0.944 g/t Au, 1.96 g/t Ag, 0.021% Cu) including 82.5 m of 3.28 g/t AuEq (3.220 g/t Au, 3.74 g/t Ag, 0.014% Cu)
  • GS-20-75: 1,152.0 m of 0.74 g/t AuEq (0.570 g/t Au, 1.75 g/t Ag, 0.101% Cu) including 121.5 m of 1.56 g/t AuEq (1.511 g/t Au, 2.99 g/t Ag, 0.010% Cu)
  • GS-20-73: 775.5 m of 0.93 g/t AuEq (0.842 g/t Au, 5.47 g/t Ag, 0.016% Cu) including 229.5 m of 1.50 g/t AuEq (1.338 g/t Au, 11.94 g/t Ag, 0.017% Cu)
  • GS-20-65: 930.0 m of 1.16 g/t AuEq (1.067 g/t Au, 2.80 g/t Ag, 0.004% Cu) including 348.0 m of 2.12 g/t AuEq (2.042 g/t Au, 4.13 g/t Ag, 0.022% Cu)
  • GS-20-57: 973.0 m of 0.84 g/t AuEq (0.775 g/t Au, 3.00 g/t Ag, 0.002% Cu) including 217.5 m of 1.40 g/t AuEq (1.338 g/t Au, 3.32 g/t Ag, 0.015% Cu)
• Excellent exploration potential for discovery and expansion of other mineralized zones:
  • Perfectstorm Zone: 118.6 m of 0.72 g/t AuEq (0.664 g/t Au, 3.96 g/t Ag, 0.010% Cu) including 59.9 m of 0.93 g/t AuEq (0.844 g/t Au, 6.09 g/t Ag, 0.010% Cu) in drill hole PS-21-06
  • Eureka Zone: 217.5 m of 0.76 g/t AuEq (0.680 g/t Au, 3.80 g/t Ag, 0.039% Cu) Including 67.5 m of 1.13 g/t AuEq (1.010 g/t Au, 5.60 g/t Ag, 0.047% Cu) in drill hole EK-21-01
  • Calm Before the Storm Zone: 155.5 m of 0.82 g/t AuEq (0.780 g/t Au, 2.34 g/t Ag, 0.004% Cu) including 53.9 m of 1.30 g/t AuEq (1.240 g/t Au, 4.35 g/t Ag, 0.006% Cu) in drill hole CBS-21-02
• Environmental baseline studies are underway, focusing on surface water quality, hydrology, atmospherics, wildlife and archaeology to be undertaken by RTEC (partnership of ERM Consultants Canada Ltd. and the Tahltan Nation Development Corporation);

The Treaty Creek Project is located within the “Golden Triangle”, one of the most well-endowed mineral districts of northwestern British Columbia. The project’s 17,913-hectare land position borders Seabridge Gold Inc.’s KSM property to the southwest and Newcrest Mining Inc.’s Brucejack property to the southeast. The past producing Eskay Creek Mine (Skeena Resources) lies 12 km to the west. Treaty Creek is situated approximately 20 km west of an all weather paved highway, powerline and is close to deep water ocean port facilities in Stewart, BC. Supported by a large exploration drilling program to be carried out in 2023, Treaty Creek is a rapidly maturing gold project that already contains a very large potential open-pitable and underground mineral resource.

On March 15th, 2023 , the Company announced an updated Mineral Resource Estimate prepared by Garth Kirkham P. Geo., of Kirkham Geosystems Ltd., and JDS Energy and Mining (“JDS Energy”) titled “NI-43-101 Technical Report for the Treaty Creek Project”, with an effective date of April 28, 2023.

Highlights of the Updated Mineral Resource Estimate on the Goldstorm Deposit at Treaty Creek include:

• Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) within 641.93 million tonnes (Mt) at a grade of 1.13 g/t AuEQ; comprised of:
• 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 %.
• Inferred Mineral Resource of 7.35 Moz AuEQ within 233.90 Mt at an average grade of 0.98 g/t AuEQ; comprised of:
• 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 %.
• CS-600 Domain is comprised of an intrusive hosted gold-copper porphyry system and hosts Indicated Mineral Resources of 9.86 Moz of AuEQ within 278.02 Mt at a grade of 1.10 g/t; comprised of:
• 6.22 Moz Au at 0.70 g/t; and 1.98 Blbs of Cu at 0.32 %.
• A 1.0 g/t sensitivity cut-off for all the Indicated Mineral Resource (open-pit and underground) measures 15.18 Moz of AuEQ at a grade of 1.48 g/t AuEQ; comprised of:
• 12.29 Moz of Au at 1.20 g/t, 72.07 Moz of Ag at 7.02 g/t and 1.35 Blbs of Cu at 0.19 %.
• 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.
• The Goldstorm Deposit remains open to the south, north, northeast and at depth.

Updated Mineral Resource Estimate for the Goldstorm Deposit

The Goldstorm MRE was prepared by Garth Kirkham, P.Geo, based on 201 diamond drill holes (148,474 meters) completed between 2007 and 2022. The MRE included 62,916 meters of diamond drill holes that were completed since the initial MRE (March 2021). A National Instrument 43-101 Technical Report will be prepared by Garth Kirkham Geosystems and JDS Mining and posted on tudor-gold.com and under the Company’s profile on www.SEDAR.com within 45 days of the date of this news release.

Table 1: Summary of Mineral Resources as of March 15, 2023^1-6

(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)
(6) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource, and listed “In Pit, External” in Table 4.

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
Cut-off Tonnage

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

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

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

The Goldstorm Deposit consists of six mineral domains with unique geological characteristics. Five of the domains are gold-dominant with lesser proportions of silver and copper. Domain CS-600 is dominantly gold and copper rich, with lesser silver. The CS-600 hosts the majority of the copper at the Goldstorm Deposit and is consists of a well-defined intrusive porphyry system. Table 4 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.

Table 4: Mineral Resource by Domain – Combined Pit and Underground¹

(1)  Refer to footnotes to the Mineral Resource Estimate in Table 1
(2)  A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource, and listed “In Pit, External”.

Figure 1: Goldstorm Mineralized Domains Shown at 0.50 g/t AuEQ (in-pit) and 0.70 g/t AuEQ (underground)

The initial mineral resource estimate for the Goldstorm  Deposit represents a very large structurally controlled gold-silver-copper porphyry mineralizing system that is open to further expansion with drilling.  In addition to the Goldstorm Deposit, the Treaty Creek Property also includes many additional zones and showings of hydrothermal alteration and gold with or without base metals that have formed in porphyry and epithermal settings. The Eureka, Calm Before the Storm (CBS), and Perfectstorm zones are considered to be early-stage to advanced-stage exploration targets.

Goldstorm Plan Map – High Grade Distribution

Goldstorm Deposit / Eureka Cross Section

Future exploration will target the Goldstorm and Copper Belle Resource, in particular the limits of the 300 Horizon Domain, the CS-600 Domain, and the DS-5 Domain within Goldstorm and the limits of the Copper Belle Zone. Definition drilling within the current resource will target converting Inferred Mineral Resources to the Measured and Indicated Mineral Resource classifications where possible. Future exploration drilling programs will continue to define the Perfectstorm, Eureka and CBS zones. The overarching goal of future exploration programs is to increase the size of the current Treaty Creek Property mineral resource and to make new significant discoveries, as well as outline the economic potential of the Goldstorm Deposit.

Since acquiring 60% of the Treaty Creek Property in 2016, Tudor Gold initiated a comprehensive geophysical and drilling exploration program through to the end of 2022.

In 2016 and 2017, diamond drilling programs were completed on the Copper Belle, GR2/HC and Treaty Gossan Zones.  The Copper Belle Mineral Resource delineation drill program was completed with 27 holes to depths below 700 m and with step-outs of 50 m where possible. A total of 13,723.3 m of drilling was completed in the Copper Belle Zone in 2017.

Tudor followed up on its 2017 results in 2018 by concentrating on the northeast end of Copper Belle, with step-out holes designed to expand the mineralized zone. Some of the thickest previous intercepts at Copper Belle were located at the edge of a strong magnetic high with a coincident magnetotelluric (MT) anomaly.  The nine deep holes drilled in 2018 successfully defined and extended a mineralized zone with depth extent of up to 700 m to the west and north of the previous thick drill intercepts. This zone has been named the Goldstorm Zone.

In 2019, delineation drilling at Goldstorm consisted of 14 holes totalling 9,781.8 m to depths greater than 1,000 m and with step-outs of 100 m to 150 m. As of the end of the 2019 season, the mineralized systems that includes the Copper Belle Zone and the Goldstorm Zone had been drilled by 83 holes totalling 39,994 m. These drill holes covered an area 1,400 m long by up to 700 m wide. The 2019 drilling program extended the mineralization for several hundred metres along strike to the northeast and significantly expanded the mineralization to the southeast, where one of the best near-surface intervals averaged 2.01 g/t gold over 87 m, within 336 m averaging 1.00 g/t gold, in hole GS-19-52. Two deep vertical step-out holes demonstrated the size and grade consistency of the Goldstorm Zone, extending 300 m northeast of the previous northernmost 2019 hole and returning very broad mineralized intercepts, such as 0.59 g/t gold over 1,081.5 m, containing an upper interval of 0.83 g/t gold over 301.5 m, in hole GS-19-47.

The 2020 drill program was designed to expand the Goldstorm Zone to the southeast and northeast, and at depth. Drilling consisted of 49 holes totalling 43,880 m at the Goldstorm Zone and three holes totalling 1,636 m at the Perfectstorm Target, southwest on trend from the Konkin Zone. The current known extent of the Goldstorm System is over 1,100 m long and the southeast axis is at least 600 m across and remains open in all directions and at depth. Six drill rigs were brought in to complete the program and each rig was equipped with modified heads to complete drill holes in excess of 1,800 m depths. Drilling in 2020 also led to the discovery of a significant new gold-silver-copper mineralized system at the Perfectstorm Zone located two kilometers southwest of Goldstorm with all three holes drilled intersecting gold, copper and silver mineralization.

In 2021, Tudor completed 30 holes totalling 30,108 m which focused on resource expansion and definition drilling at the Goldstorm Deposit. This program successfully expanded the Goldstorm mineralized system through step-out holes that extended the deposit to the northwest, north, and northeast. Highlights included step-out hole GS-21-113 intersecting 972.0 m of 1.27 g/t AuEq (0.91 g/t Au, 3.7 g/t Ag, 0.27% Cu) including 556.5 m of 1.38 g/t AuEq (0.73 g/t Au, 6.27 g/t Ag, 0.49% Cu). Drilling at the Perfectstorm zone, hole PS-21-06 returned a significant near-surface gold interval of 118.6 m averaging 0.72 g/t AuEq (0.66 g/t Au, 3.96 g/t Ag, 0.01% Cu), containing an uppermost portion averaging 0.93 g/t AuEQ (0.84 g/t Au, 6.09 g/t Ag, 0.01% Cu) over 59.9 m.  At the Eureka Zone (located 1 km to the southeast of Goldstorm), drilling confirmed significant gold mineralization with a near surface intercept in hole EK-21-01 returning 1.13 g/t AuEq (1.01 g/t Au, 5.60 g/t Ag, 0.05% Cu) over 67.5 m within a wider interval of 217.5 m grading 0.76 g/t AuEq (0.68 g/t Au, 3.80 g/t Ag, 0.04% Cu).  In addition, drilling at the Calm Before the Storm Zone (located 2 km to the northeast of Goldstorm) produced a new discovery with hole CBS-21-02 intercepting 155.5 m of 0.82 g/t AuEq (0.78 g/t Au, 2.34 g/t Ag, 0.004% Cu) and two more drill holes within the area hitting wide intervals of appreciable gold, silver and copper mineralization.

In 2022, the Company completed 42,318 m over 55 drill holes.  Results from infill and step-out drilling continued to impress and encountered stronger than expected gold, copper and silver mineralization outside the previously defined resource area of the Goldstorm Deposit to depth and along the northeastern axis by at least 500 m to the north and northeast.  Drill holes in this area were observed to intercept higher grades than those derived from the 2021 Initial Mineral Resource Estimate.  In addition to the long and consistent mineralized intervals a number of new high-grade intercepts bearing visible gold mineralization were seen within and outside the boundaries of the Goldstorm Deposit, most notably hole GS-22-134, which returned 20.86 g/t AuEQ (20.61 g/t Au, 1.50 g/t Ag, 0.20% Cu) over 4.5 m within a 25.5 m zone of 9.96 g/t AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24% Cu), and displayed 17 occurrences of visible gold within quartz-pyrite stockwork veins.

Prior to Tudor’s option of the Property in 2016, various companies undertook exploration programs that included detailed geological, geochemical and geophysical surveys.

The Treaty Gossan was initially discovered and staked in 1928 and worked until 1930. The claims were subsequently abandoned in 1931.  Between 1953 and 1980 prospecting over the current Treaty Creek Property area was undertaken by many companies, but no significant mineralization was reported.  Exploration activities from 1981 included geological mapping prospecting and geochemical sampling, followed by blasting and hand trenching of several surface mineral showings. Beginning in 1998, ground and airborne magnetic and electromagnetic surveys were completed over various targets. The first three holes were drilled in 1987, followed by larger diamond programs in 1989 (11 holes), 1994 (8 holes), 1997 (8 holes), 2004 (1 hole), 2007 (30 holes), 2009 (32 holes), 2012 (2 geotechnical holes). Tudor commenced drilling on the Treaty Creek Property in 2016.

Gold mineralization at Goldstorm and Copper Belle Deposit is hosted primarily within andesitic tuffs and volcanic breccias, punctuated by narrow intrusive bodies. All rocks are altered to varying degrees, with typically abundant chlorite, as well as localized sericite, potassium feldspar and zones of silicification. Pyrite is abundant in the strongly mineralized areas, occurring as disseminations, veins and coarse masses, with local sparse specks of chalcopyrite. Quartz-carbonate veins are common and appear to post-date the pyritic groundmass; some contain fine pyrite and local chalcopyrite, galena, sphalerite and sulphosalts. Minor visible gold has also been observed in the quartz-carbonate veins.

Qualified Person and Technical Report

All scientific and technical information relating to the mineral projects of Tudor Gold Corp. (the “Company”) contained on this page has been reviewed and approved by Mr. Ken Konkin, P.Geo., the Company’s President and CEO, who by reason of education, membership in professional associations (as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and past relevant work experience, fulfills the requirements of a Qualified Person as defined under NI 43-101.

All information relating to the Treaty Creek Project on this page is derived from the technical report entitled “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia, Canada, Latitude 56° 37’ N, Longitude 130° 08’ W UTM NAD83 Zone 9N 430,500 m E, 6,275,000 m N for Tudor Gold Corp., NI 43-101 & 43-101F1 Technical Report” having an effective date of March 1, 2021 and a signing date of April 23, 2021, prepared by William Stone, Ph.D., P.Geo., Fred Brown, P.Geo., David Burga, P.Geo., Jarita Barry, P.Geo., D. Grant Feasby, P.Eng. and Eugene Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc. (the “Technical Report”). The Technical Report was prepared in accordance with NI 43-101 and is available to view on the Company’s SEDAR profile or by clicking on the following link: Technical Report on the Treaty Creek Property.

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