Tudor Gold Announces Updated Mineral Resource Estimate for Treaty Creek Project, with Higher-Grade Sensitivities

Executive Summary

• Tudor Gold Corp. released an updated Mineral Resource estimate (2026 MRE) for the Goldstorm Deposit at its Treaty Creek Project, showing a 15% increase in Indicated Gold Resources compared to the 2024 estimate.
• The base case (US$50/tonne NSR cut-off) reports 24.9 million ounces of Indicated Gold and 4.0 million ounces of Inferred Gold, with significant Silver and Copper by-products.
• Higher-grade sensitivities at US$125 and US$175 NSR cut-offs demonstrate increased grades, supporting the company's strategy to target an initial underground production rate of roughly 300,000 ounces of gold per year.

Key Details

• Base Case Mineral Resource (US$50/tonne NSR Cut-off):
  • Indicated: 912.3 million tonnes at 0.85 g/t Au, 5.07 g/t Ag, 0.15% Cu; containing 24.9 Moz Au, 148.7 Moz Ag, and 3.048 billion lbs Cu.
  • Inferred: 86.1 million tonnes at 1.43 g/t Au, 5.22 g/t Ag, 0.17% Cu; containing 4.0 Moz Au, 18.6 Moz Ag, and 327.7 million lbs Cu.
• Higher-Grade Sensitivity (US$125/tonne NSR Cut-off):
  • Indicated: 102.1 million tonnes at 1.78 g/t Au, 9.19 g/t Ag, 0.27% Cu; containing 5.8 Moz Au, 30.2 Moz Ag, and 607.2 million lbs Cu.
  • Inferred: 21.8 million tonnes at 3.64 g/t Au, 10.22 g/t Ag, 0.14% Cu; containing 2.6 Moz Au, 7.2 Moz Ag, and 67.9 million lbs Cu.
• Higher-Grade Sensitivity (US$175/tonne NSR Cut-off):
  • Indicated: 45.1 million tonnes at 2.33 g/t Au, 9.27 g/t Ag, 0.17% Cu; containing 3.4 Moz Au, 13.4 Moz Ag, and 167.3 million lbs Cu.
  • Inferred: 18.3 million tonnes at 4.02 g/t Au, 11.17 g/t Ag, 0.16% Cu; containing 2.4 Moz Au, 6.6 Moz Ag, and 65.2 million lbs Cu.
• Drilling Data: The estimate is based on 359 diamond drill holes totaling 191,466 meters (332 holes by Tudor Gold from 2016-2025; 27 holes by prior operators from 2007-2009).
• Technical Parameters:
  • Prepared by Garth Kirkham, P.Geo. of Kirkham Geosystems Ltd. in accordance with NI 43-101.
  • Effective date: November 30, 2025.
  • NSR calculation assumes metal prices of US$2,925/oz Au, US$34.00/oz Ag, US$4.25/lb Cu; metallurgical recoveries of 90% Au, 80% Ag, 80% Cu; underground mining costs of C$8.50/t, processing costs of C$38.50/t, and G&A of C$1.50/t.
  • CAD:USD exchange rate of 0.72.
• Geological Framework: The Goldstorm Deposit comprises five distinct domains: Copper Belle, 300H/N, CS-600, Deep Stockwork 5 (DS5), and Route 66 (R66). The resource is reported in three zones: Upper (Copper Belle, 300H, 300N), Central (CS600, Route 66, SC-1), and Lower (DS-5).
• Next Steps: Metallurgical testing is underway with initial results expected in the current quarter. A mine plan is being developed around higher-grade mineralization, with a Preliminary Economic Assessment (PEA) targeted for completion later in 2026 if metallurgical and planning results are positive.
• Recent Financing Context: The release notes a December 2025 flow-through financing closed at $0.95 per unit for gross proceeds of approximately $12.5 million.

Notable Quotes

• "The 2026 MRE increased Indicated Mineral Resources of gold at Treaty Creek's Goldstorm Deposit by 15% over the 2024 Mineral Resource estimate and demonstrates the higher-grade potential at the Treaty Creek Project with higher NSR cutoff value sensitivities," commented Joe Ovsenek, President and CEO of Tudor Gold. "Now that we have the 2026 MRE in hand, we can start to advance our strategy for placing Treaty Creek in production with an underground mine initially targeting roughly 300,000 ounces of gold per year."