Tudor Gold Provides 2025 Year End Review and Strategy for 2026

Tudor Gold's December 17, 2025, press release provides a year-end review and outlines its strategy for 2026. Key points include: - Strategic Shift: The company is now focusing on developing a mid-size, high-grade underground mine at the Goldstorm Deposit, a significant pivot from the previously implied large-scale, open-pit model. This is intended to be a more economically attractive, lower-capex path to production. - Drilling Summary: It reports the completion of a 5,052-meter, 5-hole diamond drill program in 2025. It highlights results from two holes, GS-25-188 (54m of 2.31 g/t Au) and GS-25-190 (73.5m of 1.70 g/t Au), which were previously announced. - Financing Summary: It confirms the recent closing of approximately $24.5 million in financing ($13M in flow-through and $11.5M in non-flow-through) to advance the new strategy. - 2026 Objectives: The company targets an updated Mineral Resource Estimate (MRE) for January 2026, which will guide a future Preliminary Economic Assessment (PEA). Other objectives include further metallurgical work, securing a permit for an underground exploration ramp, and resolving a permitting overlap issue with Seabridge Gold.

This news is materially positive as it formally articulates a strategic pivot and confirms the company is now well-funded to execute it.

• Strategic Pivot (Positive): The shift to a high-grade underground starter mine is a significant de-risking event. Large-scale porphyry projects often face enormous initial capex hurdles that are difficult for junior companies to finance. By targeting higher-grade zones for an initial, smaller-scale operation, Tudor presents a more manageable and achievable path to production. This makes the project more attractive to investors and potential partners. This strategy was first hinted at in January 2025 with the focus on the SC-1 zone and solidified with the appointment of Joe Ovsenek's team in May 2025, known for building the high-grade Brucejack mine.
• Financing (Positive): The successful completion of $24.5 million in financing in a challenging market is a strong vote of confidence. The financing, done between $0.80 and $0.95 per unit, provides the necessary capital to fund the 2026 work program, including the critical updated MRE, metallurgical work, and initial underground development permitting.
• Drill Results (Neutral): The drill results presented are a re-hash of previously released data from September, October, and November 2025. While the results are solid and confirm mineralization, they do not represent new information for the market.
• MRE Timeline (Minor Negative): The updated MRE has been slightly delayed from a target of Q4 2025 (per the Nov 3 release) to January 2026. While minor, any delay to a key catalyst is a negative.
• Transparency on Risks (Positive): The company is now openly acknowledging its corporate objective to "negotiate a resolution of the permitting overlap with Seabridge Gold." This issue was previously only hinted at (Jan 22 release). Bringing this risk to the forefront, while highlighting a potential headwind, is a positive step in transparency.

Overall, the announcement confirms the new, more pragmatic leadership is executing its plan. It has secured the funding and is focusing on the key deliverables (MRE, PEA, permitting) needed to advance a more fundable version of the Treaty Creek project.

Tudor Gold Corp. is a Canadian mineral exploration company focused on its flagship Treaty Creek Project, located in the prolific Golden Triangle of northwestern British Columbia. The project hosts the Goldstorm Deposit, one of the world's largest recent gold-copper discoveries. In 2025, the company consolidated its ownership in the project to 80% through the acquisition of its partner, American Creek Resources Ltd. The remaining 20% is held by Teuton Resources Corp. The project is situated near major infrastructure and adjacent to world-class deposits such as Seabridge Gold's KSM and Newmont's Brucejack.