Overview
Tudor’s 80%-owned Treaty Creek Project is a gold-copper asset located in British Columbia’s Golden Triangle, a historically prolific precious metals mining jurisdiction with past and present mining operations and numerous active exploration projects. Tudor has been exploring Treaty Creek since 2016 and has outlined significant gold Mineral Resources at the Goldstorm Deposit, a large, gold-silver-copper porphyry system on the property with mineralization that remains open and with high-grade gold potential. Tudor has also identified three other grassroots targets nearby for further exploration upside.
Tudor’s strategy is to follow-up on the higher-grading (2-3 grams per tonne) gold mineralization identified at depth in the Goldstorm Deposit to assess the potential for a high-grade underground mine to kickstart development on the property.
Key facts
By The Numbers
24.9
M OZ
Million ounces of gold at 0.85 g/t Indicated Gold Resource
148.7
M OZ
Million ounces of silver at 5.07 g/t Indicated Silver Resource
3.48
B lbs
Billion pounds of copper at 0.15% Indicated Copper Resource
Access to Infrastructure
Roads
40 km from all-weather, paved Highway #37.
Water
Water accessible year-round.
Power
Northwest Transmission Line Extends along Highway #37.
Export Facilities
Deep water ocean port facilities in Stewart.
Treaty Creek 2026 Mineral Resource Estimate
The updated Mineral Resource Estimate (MRE) was prepared by Garth Kirkham, P.Geo. of Kirkham Geosystems Ltd. (“KGL”) in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”).
Highlights
- 2026 MRE at a net smelter revenue (“NSR”) cut-off value of US$50 per tonne
- Indicated Mineral Resource of 24.9 million ounces of gold, 148.7 million ounces of silver and 3.048 billion pounds of copper (912.3 million tonnes grading 0.85 g/t gold, 5.07 g/t silver and 0.15% copper); a 15% increase of indicated gold from the 2024 MRE
- Inferred Mineral Resource of 4.0 million ounces of gold, 18.6 million ounces of silver and 327.7 million pounds of copper (86.1 million tonnes grading 1.43 g/t gold, 5.22 g/t silver and 0.17% copper)
- US$125 NSR cut-off value sensitivity
- Indicated Mineral Resource of 5.8 million ounces of gold, 30.2 million ounces of silver and 607.2 million pounds of copper (102.1 million tonnes grading 1.78 g/t gold, 9.19 g/t silver and 0.27% copper)
- Inferred Mineral Resource of 2.6 million ounces of gold, 7.2 million ounces of silver and 67.9 million pounds of copper (21.8 million tonnes grading 3.64 g/t gold, 10.22 g/t silver and 0.14% copper)
- US$175 NSR cut-off value sensitivity
- Indicated Mineral Resource of 3.4 million ounces of gold, 13.4 million ounces of silver and 167.3 million pounds of copper (45.1 million tonnes grading 2.33 g/t gold, 9.27 g/t silver and 0.17% copper)
- Inferred Mineral Resource of 2.4 million ounces of gold, 6.6 million ounces of silver and 65.2 million pounds of copper (18.3 million tonnes grading 4.02 g/t gold, 11.17 g/t silver and 0.16% copper)
The 2026 MRE is based on 359 diamond drill holes for a total of 191,466 meters, which includes 332 drill holes completed by Tudor Gold between 2016 and 2025 and 27 drill holes completed by prior Treaty Creek Project operators between 2007 and 2009. The 2026 MRE provided below in below (Table 1) is reported at a NSR cut-off value of US$50 per tonne.
2026 Treaty Creek Project Mineral Resource Estimate (1) – (11)
Mineral Resource Classification | Tonnes (M) | Gold Grade (g/t) | Silver Grade (g/t) | Copper Grade (%) | Gold (M oz) | Silver (M oz) | Copper (M lbs) |
| Indicated | 912.3 | 0.85 | 5.07 | 0.15 | 24.9 | 148.7 | 3,048.0 |
| Inferred | 86.1 | 1.43 | 5.22 | 0.17 | 4.0 | 18.6 | 327.7 |
Footnotes
The Mineral Resource statement is subject to the following:
- The 2026 MRE has been prepared by Garth Kirkham, P.Geo., an Independent Qualified Person as defined by NI 43-101.
- The 2026 MRE has been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under NI43-101.
- The 2026 MRE is reported on a 100% ownership basis.
- The 2026 MRE was prepared for a potential underground mining scenario evaluated within block cave mining shapes and constrained by geological and grade-continuity-defined solids using a NSR cut-off value of US$50/tonne. The NSR value was developed based on initial metallurgical testwork results combined with the Company’s and its consultants’ knowledge of potential smelter terms, royalites and onsite and offsite costs. The NSR calculation assumes a payable gold-silver-copper concentrate will be generated. The NSR calculation assumes metal prices of US$2925/ounce gold, US$34.00/ounce silver and US$4.25/pound copper; metallurgical recoveries of 90% for gold, 80% for silver and 80% for copper; underground mining costs of C$8.50/tonne, processing costs of C$38.50/tonne and G&A of C$1.50/tonne; a CAD:USD exchange rate of 0.72 and rounded to US$50.
- The 2026 MRE is reported without applying mining dilution, mining losses, or process losses.
- The 2026 MRE is constrained within underground shapes based on reasonable prospects of economic extraction, in accordance with NI43-101. Reasonable prospects for economic extraction were met by applying mining shapes, ensuring grade continuity above the cut-off value, and by excluding non-mineable material prior to reporting.
- Mineral resources are classified as Indicated, and Inferred based on geological confidence and continuity, spacing of drill holes, and data quality.
- The effective date of the 2026 MRE is November 30, 2025.
- Mineral Resources are not Mineral Reserves and 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.
- 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.
- All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
Treaty Creek Project 2026 Mineral Resource Estimate Higher-Grade Sensitivities
In addition to the base case NSR cut-off value of $50 per tonne, NSR cut-off values of $125 per tonne and $175 per tonne are reported to demonstrate the potential effect on tonnage, grade and metal content (Table 2). Higher NSR cut-off value sensitivities demonstrate an increase in grade and concomitant decrease in tonnage. The higher cut-off value sensitivities will be evaluated for potential to support an underground mining operation using conventional mining methods. The higher NSR cut-off value sensitivities are for comparison purposes only and should not be considered Mineral Resources.
2026 Treaty Creek Project Mineral Resource Estimate Higher-Grade Sensitivities(1)
NSR Cut-Off Value | Mineral Resource Classification | Tonnes (M) | Gold Grade (g/t) | Silver Grade (g/t) | Copper Grade (%) | Gold (M oz) | Silver (M oz) | Copper (M lbs) |
| US$125/ tonne | Indicated | 102.1 | 1.78 | 9.19 | 0.27 | 5.8 | 30.2 | 607.2 |
| Inferred | 21.8 | 3.64 | 10.22 | 0.14 | 2.6 | 7.2 | 67.8 | |
| US$175/ tonne | Indicated | 45.1 | 2.33 | 9.27 | 0.17 | 3.4 | 13.4 | 167.3 |
| Inferred | 18.3 | 4.02 | 11.17 | 0.16 | 2.4 | 6.6 | 65.3 |
Footnotes
- See notes to Table 1 above.
Qualified Person
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 Senior Vice President of Exploration, 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.
Project History
2025 to Present
In August 2025, Tudor filed a permit application to develop an underground exploration ramp to access the high-grade SC-1 Zone. In September, Tudor acquired American Creek Resources and increased its project interest from 60% to 80% of Treaty Creek. In January 2026, an Updated Mineral Resource Estimate was announced with Treaty Creek now hosting gold resources demonstrating higher-grade potential at higher NSR cut-off values.
2021 to 2022
Following the March 2021 Mineral Resource Estimate, aggressive drilling significantly expanded the CS-600 copper-gold porphyry domain and higher-grade zones within DS5. Two new domains were discovered: Route 66 and NS Stockwork. Notable intercepts included 405m of 0.65 g/t Au with 0.62% Cu. A 2022 aeromagnetic survey delineated subsurface intrusive structures.
2019 to 2020
Step-out drilling defined three major domains: 300H, CS-600, and DS5. Exceptional intercepts included 1.07 g/t Au over 930m in the 300H domain and 550.5m of 0.90 g/t Au in DS5. The systematic exploration confirmed continuity of high-grade mineralization across multiple zones.
2017 to 2018
Extensive drilling revealed long intervals of gold-silver-copper mineralization. Notable intercepts included 338m of 0.70 g/t Au (2016) and 563.8m of 0.98 g/t Au in hole CB-18-39. The zone was renamed Goldstorm as exploration expanded northeast with drill spacing to 150 meters and depths reaching 700 meters.
2007 to 2016
American Creek Resources discovered the Copper Belle Zone in 2007, now the southernmost domain of the Goldstorm Deposit. Tudor Gold commenced exploration in 2016, drilling northeast of Copper Belle to delineate the larger Goldstorm system. A magnetotelluric survey was completed to identify subsurface structures.
1928 to 1984
The Treaty Gossan was discovered in 1928 by prospectors Charles Knipple and Tim Williams. Following intermittent exploration by Cominco (1929-1931) and various companies through 1980, Ed Kruchkowski staked the Treaty Creek Property in 1980. Teuton Resources acquired the claims in 1984, leading to the discovery of several mineralized zones.
Geology
The Treaty Creek Property contains the Goldstorm Deposit and is hosted in Early Jurassic intrusions within surrounding Late Triassic and Early Jurassic volcano-sedimentary rocks that are part of the Stikine volcanic island-arc terrane. Arc magmatism across Stikinia and Quesnellia led to a multi-episodic, Late Triassic to Early Jurassic metallogenic event that generated porphyry intrusion-related mineral deposits, regionally. The Treaty Creek Property and Goldstorm Deposit are situated both spatially and temporally relative to the unconformable contact between Upper Triassic Stuhini Group and Jurassic Hazelton Group. The Hazelton Group consists primarily of andesitic to basaltic volcanics and volcaniclastic with a range of fine to coarse clastic sediments. In some cases, basal Hazelton units include granitoid-cobble conglomerate and interbedded quartz-rich arkose, derived from exhumed Triassic plutons. The lower Hazelton Group is a latest- Triassic to Toarcian arc-related andesitic sequence with local felsic centres. The associated Tatogga and Texas Creek Suite intrusions are key mineralizing agents for porphyry copper, gold, and volcanogenic massive sulphide (VMS) deposit formation in northwestern Stikinia.
In the Treaty Creek Property area, the Hazelton Group consists of the Jack, Betty Creek and Salmon River Formations. Jack Formation rocks consist of clast supported granitoid pebble and boulder conglomerate and are present along the west central part of the Property. Overlying the Jack Formation, farther to the east, the Betty Creek Formation is composed of the Unuk River and Treaty Ridge Members. At the toe of the Treaty Glacier, undifferentiated andesite and epiclastic rocks belong to the Unuk River Member.
Large hydrothermal alteration haloes are developed around the intrusive complexes in the Mitchell and Sulphurets Deposits areas. Similar alteration is present at the Treaty Creek Property and surround several of the mineral zones on the Property including the Goldstorm Deposit. Potassic alteration is closely associated with copper and gold mineralization in the Mitchell intrusions and adjacent Stuhini and Hazelton Group Rocks. The potassium alteration zones are overprinted by propylitic and chlorite-sericite alteration and surrounded by widely developed quartz-sericite pyrite (sericitic) alteration zones.
Major structural features in the Treaty Creek Property area are regional scale contractional faults along with associated local dilational faulting, formed within the Cretaceous Skeena Fold Belt. The west side of the Treaty Creek Property area lies primarily on the upper block of the Sulphurets Thrust Fault. The Sulphurets Thrust is an east-vergent thrust fault formed during Cretaceous transpression and is the immediate hanging wall to the porphyry deposits at Seabridge’s KSM Property. This structure extends to the northeast of the Sulphurets district onto the Treaty Creek Property and along with the interaction of other local thrust faulting, is considered to be a control on formation of the porphyry-style gold mineralization. Local to the Goldstorm Deposit, compressional deformation is taken up by regional thrust faulting named Treaty Thrust Fault 1 (TTF1) and Treaty Thust Fault 2 (TTF2). These local to regional scale thrust faults represent the hangingwall (TTF1) and footwall (TTF2) contacts of the deposit. The Goldstorm mineralized system is comprised of six distinct mineralized domains including Copper Belle, 300H, CS-600, Deep Stockwork 5 (DS5), Route 66 (R66), and North-South Stockwork (NS STK). The Copper Belle domain exists at the southwest end of the Goldstorm Deposit and represents a gold-dominant, shear hosted mineralized system. The 300H, CS-600, and DS5 domains comprising the Goldstorm mineral system are tabular bodies dipping 45 to 50 degrees to the northwest. The near surface 300H domain hosts pervasively disseminated auriferous-pyrite and fine gold-bearing pyrite veinlets and stringers. The CS-600 domain underlies the 300H domain and gold-copper dominant mineralization is associated with quartz veinlet stockworks, hydrothermal breccias, and porphyritic diorite intrusive stocks. Beneath the 300H and CS-600 domains are the DS5 domain which is a gold-dominant quartz-pyrite veinlet stockwork zone that carries minor silver values. Additionally, the R66 and NS STK domains represent narrow 20 – 50 m corridors of north south striking, high-grade gold dominant, quartz stockwork mineralization.
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Forward-Looking Information & Disclaimer
This page contains forward-looking statements. Please read the Legal Notice for further information.
Certain statements contained in this page constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking statements are based on opinions and assumptions which management considers to be reasonable and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Tudor Gold 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 required by law.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. There is no certainty that all or any portion of the mineral resources estimated will be converted into mineral reserves.
The technical and scientific contents of this page have been reviewed and approved by Kenneth Konkin, P.Geo., President and Chief Executive Officer of Tudor Gold, who is the Qualified Person for the project as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Qualified Person has verified the data disclosed in this page, including sampling, analytical and test data underlying the information contained in this page.