Toogood Gold Corp. Receives TSX-V Approval for Golden Nugget Property and Announces Additional Ground Consolidation in Newfoundland

The most recent news release dated November 13, 2025, announces that Toogood Gold Corp. has received TSX-Venture Exchange approval for its option agreement to acquire a 100% interest in the Golden Nugget Property. This property consists of 3,000 hectares in Newfoundland, contiguous to the company's Toogood Gold Project. The terms of the option agreement, previously announced on October 1, 2025, include total payments of $330,000 cash and $370,000 in common shares over a four-year earn-in period, along with a 2.0% Net Smelter Return (NSR) royalty to the optionors, which can be reduced to 1.0%-1.5% for a $1,500,000 payment. An annual advance royalty of $25,000 is payable starting September 20, 2030, until commercial production.

Additionally, Toogood Gold announced the acquisition of three new mineral licenses totaling 75 hectares, also in Newfoundland. This acquisition was for $15,000 cash and 100,000 common shares issued at $0.18 per share. These new licenses also carry a 2.0% NSR royalty to the vendors, with a buyback option to reduce it to 1.0% for a $1,500,000 payment.

The TSX-V approval for the Golden Nugget Property is a necessary regulatory step for a previously announced acquisition (October 1, 2025). While positive that the transaction is moving forward, it does not introduce new material information that would significantly alter the company's valuation or prospects beyond what was already incorporated when the option agreement was first announced. The terms remain as initially disclosed.

The acquisition of the three additional mineral licenses is a small-scale land consolidation (75 hectares) for a modest cash payment of $15,000 and 100,000 shares. The shares were issued at $0.18, which aligns with the company's recent closing price, suggesting the company is acquiring small parcels of land at market rates during a period of depressed stock value. This is a routine operational activity for an exploration company looking to consolidate its land position but is not individually material.

Overall, this news is administrative and incremental. It confirms ongoing property acquisitions but lacks the punch of new exploration results or significant strategic financing. The company has seen its stock price fall significantly from the highs around the initial Golden Nugget announcement, and this follow-up news is unlikely to reverse that trend without stronger catalysts.

Toogood Gold Corp., formerly Smithe Resources Corp., is a Canadian junior natural resource company primarily focused on gold exploration in Newfoundland. Its flagship asset is the Toogood Gold Project, located on New World Island within the Exploits Subzone, a region known for significant gold discoveries.

The company's primary focus has been the Quinlan discovery, made in 2022, characterized by high-grade, near-surface visible gold intercepts, which remains open in all directions. The company completed a 2,000-meter diamond drill program at Quinlan in Q3 2025 to test strike and down-dip extensions. They have also engaged in Ground Penetrating Radar (GPR) surveys and a partnership with Vrify AI to refine drill targeting at Quinlan.

Toogood has expanded its land package through several key acquisitions: * Stockley Kennedy Property: Optioned in August 2025, adding 375 hectares and approximately 4 kilometers along the Virgin Arm fault, with historical high-grade rock samples and drill intercepts. * Golden Nugget Property: Optioned in October 2025 and approved by TSX-V in November 2025, adding 3,000 hectares contiguous to the main project, with historical high-grade gold samples from outcrop. * Additional Licenses: Three mineral licenses totaling 75 hectares acquired in November 2025, further consolidating the land package.

The project benefits from excellent infrastructure, including highway access, power, water, proximity to tidewater, and strong community support, making it an attractive exploration target in a Tier 1 jurisdiction.