VANCOUVER, BC, September 23, 2022 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) announces that, further to the Company’s news releases dated July 13, 2021, February 1, 2022, July 8, 2022, August 4, 2022, August 10, 2022 and August 30, 2022 (the “Initial News Releases”), the Company has entered into an amended and restated arrangement agreement dated September 23, 2022 (the “AmendedAgreement”) with Goldstorm Metals Corp. (“Goldstorm”), its wholly-owned subsidiary, in connection with the proposed spin-off of the Company’s six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia (collectively, the “Crown Property”) by way of plan of arrangement (the “Arrangement”).

Further to the Initial News Releases and pursuant to the Amended Agreement, the Company has amended the terms of Goldstorm’s non-brokered private placement (the “Goldstorm Private Placement”), to be completed in connection with the Arrangement, to consist of the issuance of units of Goldstorm (each, a “Goldstorm Unit”) at a price of $0.26 per Goldstorm Unit. Each Goldstorm Unit will consist of one common share of Goldstorm (a “Goldstorm Share”) and one common share purchase warrant (each, a “Goldstorm Warrant”). Each Goldstorm Warrant will be exercisable to purchase one Goldstorm Share at a price of $0.60 for a period of two years from the date of issuance. In connection with the Goldstorm Private Placement, Goldstorm may also pay finder’s fees of up to 8% of the gross proceeds raised and may issue finder’s warrants of up to 8% of the Goldstorm Units offered.

For more information on the Arrangement, please refer to the Initial News Releases.