Mr. Joseph Ovsenek reports

TUDOR GOLD REPORTS POSITIVE METALLURGICAL TEST RESULTS FOR TREATY CREEK

Tudor Gold Corp. has released the positive results of its metallurgical program initiated in late 2025 with composite samples sourced from within and adjacent to the higher-grade Upper, Central and Lower zones of Treaty Creek's Goldstorm deposit. Over all, the metallurgical test work demonstrates that saleable gold and copper concentrates can be produced from all three zones, either individually or as a blended feed. The results also indicate that mineralization from each zone can be mined and processed concurrently or in separate campaigns, providing flexibility in mine planning. A preliminary economic assessment on placing the Goldstorm deposit in production is targeted for completion in the third quarter of this year.

Goldstorm deposit metallurgical program results

The metallurgical program primarily focused on producing a sulphide gold concentrate from the Upper and Lower zones while also evaluating the potential to produce both a copper concentrate and a sulphide gold concentrate from the Central zone. In addition, to test whether mineralization from the three zones could be mined concurrently and processed as a combined mill feed, a blended composite was prepared using equal proportions from each of the three zone composites. This composite was tested to produce both a copper concentrate and a sulphide gold concentrate.

The Upper and Lower zones both produced saleable sulphide concentrates, achieving excellent gold recoveries. The Upper zone concentrate recovered 86 per cent of the gold at a grade of 26.1 grams per tonne gold and a mass pull of 11.8 per cent. The Lower zone recovered 87 per cent of the gold at a grade of 19.0 g/t gold with a mass pull of 14 per cent. The concentrates from both zones also contain potential silver credits and exhibit sulphur grades in excess of 45 per cent, further enhancing their marketability.

The Central zone produced two saleable concentrates. The copper concentrate recovered 55.1 per cent of the gold at a grade of 68.9 g/t, 68.7 per cent of the silver at a grade of 664.0 g/t and 85.5 per cent of the copper at a grade of 28.9 per cent with a mass pull of 0.9 per cent. The sulphide concentrate recovered 27.0 per cent of the gold at a grade of 10.0 g/t, 20.0 per cent of the silver at a grade of 57.0 g/t and 8.6 per cent of the copper at a grade of 0.9 per cent at a mass pull of 3.1 per cent. Combined recoveries from the Central zone were 82.1 per cent for gold, 88.7 per cent for silver and 94.1 per cent for copper at a mass pull of 4.0 per cent.

The blended composite, comprising mineralization from all three zones, produced two saleable concentrates. The copper concentrate recovered 22.9 per cent of the gold at a grade of 159.1 g/t, 24.9 per cent of the silver at a grade of 617.8 g/t and 59.6 per cent of the copper at a grade of 30.4 per cent with a mass pull of 0.4 per cent. The sulphide concentrate recovered 57.4 per cent of the gold at a grade of 18.3 g/t, 56.7 per cent of the silver at a grade of 64.5 g/t and 29.5 per cent of the copper at a grade of 0.7 per cent with a mass pull of 9.4 per cent. Combined recoveries for the blended composite were 80.3 per cent for gold, 81.6 per cent for silver and 89.1 per cent for copper at a mass pull of 9.8 per cent. Minor optimization will be required to reduce copper losses to the sulphide concentrate.

The results of the locked-cycle test work are set out in Table 1 for the Upper, Central and Lower zone composites and for the blended composite.

Goldstorm deposit metallurgical program

The metallurgical test work program was designed for initial flow sheet development for producing saleable concentrates from the three zones of the Goldstorm deposit.

For the Upper and Lower zones, the flow sheet selected for locked-cycle testing comprised a primary target grind to 120 micrometres, followed by conventional sulphide flotation. This included a regrind of the rougher concentrate and two stages of cleaner flotation.

For the Central zone and the blended composite, the selected flow sheet likewise commenced with a primary target grind to 120 micrometres, followed by an initial copper flotation stage. The resulting rougher copper concentrate was reground and treated through three stages of cleaner flotation. The copper flotation tailings were subsequently processed through a sulphide rougher stage, after which the rougher concentrate was reground and subjected to three stages of cleaner flotation.

Variability test work is under way to test the flow sheet on specific drill hole samples that were used to make up the composites for each of the zones. If required, additional blended composites will be tested based on the annual production schedule developed for the preliminary economic assessment.

Preliminary economic assessment

Fuse Advisors Inc. of Vancouver, B.C., is continuing to advance the preliminary economic assessment on placing the Goldstorm deposit at Treaty Creek in production, which is targeted for completion in the third quarter of this year.

Qualified persons

Renee Goold, PEng, manager, processing and metallurgy, Fuse Advisors (part of SLR), is the qualified person, as defined by National Instrument 43-101. Ms. Goold has reviewed, verified and approved the scientific and technical information in this news release.

Ken McNaughton, MASc, PEng, vice-president, development, Tudor Gold, is the qualified person, as defined by NI 43-101, responsible for the PEA. Mr. McNaughton has reviewed, verified and approved the scientific and technical information in this news release.

About the Treaty Creek project

Treaty Creek's Goldstorm deposit hosts indicated mineral resources of 24.9 million ounces of gold, 148.7 million ounces of silver and 3,048 million pounds of copper (912.3 million tonnes grading 0.85 g/t gold, 5.07 g/t silver and 0.15 per cent copper) and inferred mineral resources of 2.6 million ounces of gold, 7.2 million ounces of silver and 67.9 million pounds of copper (21.8 million tonnes grading 3.64 g/t gold, 10.22 g/t silver and 0.14 per cent copper). The Goldstorm deposit remains open in all directions, and a permit application has been filed for approval to construct an underground ramp for access to drill the high-grade gold SC-1 zone. A preliminary economic assessment on placing the Goldstorm deposit in production as an underground mine is now under way.

In addition to the Goldstorm deposit, Treaty Creek hosts other recent gold discoveries nearby: the CBS, Eureka and Perfectstorm zones. A 10,000-metre plus drill program is planned to commence in May targeting the further exploration of these zones.

About Tudor Gold Corp.

Tudor Gold is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), 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 an 80-per-cent interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corp.'s Brucejack mine property to the southeast.

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