June 2, 2016
Vancouver, B.C.

TUDOR GOLD Corp. Announces Another New Property Acquisition in Golden Triangle Area, British Columbia

TUDOR GOLD Corp. (“TUDOR GOLD” or the “Company”) (TSXV symbol: TUD) is pleased to announce it has entered into an option agreement for the right to acquire a 100% interest in a property located in the Golden Triangle area, in the Skeena Mining Division. The property is commonly known as the Orion property. The Optionor is arm’s length to the Company. The proposed option agreement is subject to TSX Venture Exchange (the “Exchange”) approval.

The Orion property

The 3,154.5 hectare Orion property is located west of TUDOR GOLD Corp’s recently acquired Delta/Fairweather properties and immediately south of TUDOR GOLD Corp’s High North  property in the Skeena Mining division approximately 50 km north-northwest of Stewart, British Columbia. The Orion property has been subjected to intermittent prospecting  programs from 1995 to 2007 and a small diamond drill program in 2007. A float sample collected in 2006 on the Orion property returned 6.02 grams gold per tonne gold and 20.3 grams silver per tonne but its source could not be determined.

 

The eastern portion of the Orion property hosts the Cat-in-the-Hat showing where a 1994 trench returned 2.2 gram gold per tonne and 1.36% arsenic over 13 meters and grab  samples returned from 10 parts per billion (“ppb”) gold to 47.5 grams gold per tonne (BC Assessment Report 23885). A five hole diamond drill program targeting the Cat-in-the-Hat showing was completed in 2007. Holes OR2007-1 and 2 were drilled from the same site and returned significant mineralization (see table below), while three holes drilled approximately 100 meters to the east from the same drill pad failed to encounter any significant mineralization.

2007 - Orion diamond drill results

Drill HoleFrom (m)To (m)Interval* (m)Arsenic (ppm)Gold (g/t)
OR2007-016.812.86.016810.72
20.423.43.061762.88
OR2007-0275.378.33.019520.52
96.699.63.038530.78

Teuton Resources Corp. Press Release dated February 28, 2008. All intervals are downhole intervals as true widths have not been determined.

The Company has been granted an option, subject to Exchange approval, to acquire a 100% interest in the property by making option payments totaling $700,000 over a five year period, and the issuance of up to 700,000 shares in the capital of the Company over a five year period, with an initial issuance of 250,000 shares upon the Company receiving Exchange approval. The property is subject to a 2½% NSR royalty.

 

The Company will pay no finder’s fee in connection with the proposed acquisition. The shares issued in connection with the Orion property will be subject to a statutory hold period of four months and a day from the date of issue.

The qualified person

The foregoing technical disclosure and scientific information, including results of the previous exploration, has been reviewed, compiled and approved by Richard A. Graham, P. Geol., who is a ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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

Aris Morfopoulos

Financial Relations

Phone:604-721-2650

Cautionary Statements regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. 

All statements other than statements of historical fact included in this release, including, without limitation, statements regarding analysis and re-interpretation of data, and potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or 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 actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. 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.