Mr. Colin Smith reports

TOOGOOD GOLD REPORTS FINDINGS FROM DR. STUART SIMMONS' TECHNICAL REVIEW OF TABLE MOUNTAIN PROJECT, NEVADA

Toogood Gold Corp. has released findings from a technical review of its Table Mountain gold-silver project in Lincoln county, Nevada, completed by Dr. Stuart F. Simmons following a two-day field examination on July 25 and July 26, 2026, conducted alongside Lee Hess, vice-president of exploration, and Colin Smith, chief executive officer and a director of the company.

Dr. Simmons, an internationally recognized specialist in epithermal gold-silver deposits and hydrothermal systems, examined outcrops, vein exposures, epithermal textures and alteration across the Table Mountain project. His review focused on the depth level of exposure, mineral and textural indicators of the paleo-water table, evidence for boiling and fluid flow, structural and stratigraphic controls, and the implications of these observations for overall exploration potential.

Highlights of Dr. Simmons's review:

• Well-preserved epithermal system: Surface exposures represent the upper portions of the system, leaving the principal gold-silver target potentially preserved at shallow depths.
• Evidence of energetic boiling: Widespread lattice quartz textures are indicative of energetic boiling, a critical process that can cause gold and silver to be deposited from hydrothermal fluids.
• Surface geochemistry supports the model: Surface gold values are consistent with the interpreted shallow level of exposure and potential preservation of the more prospective zone at depth.
• Shallow, drill-testable target interval: Surface features interpreted to have formed near the paleo-water table support a prospective interval beginning approximately 50 metres below surface and extending through 200 metres, without constraining deeper potential.
• Substantial mineralized structures: Kilometre-scale structural corridors host multiple gold-silver-bearing epithermal veins and strong arsenic-antimony-mercury-molybdenum-thallium pathfinder anomalism.
• Potentially expanded mineralized interval: Changes in the paleo-water table level or later faulting may have increased the vertical range of mineralization.
• Highly prospective and untested: Dr. Simmons concluded that "Table Mountain represents a highly favourable opportunity for new discovery in virgin ground."

Dr. Simmons commentary

"Table Mountain represents a highly favourable opportunity for new discovery in virgin ground. It displays several of the key attributes I look for in a prospective low-sulphidation epithermal system, including excellent preservation and widespread quartz textures indicating energetic boiling within high-fluid-flux conduits capable of depositing significant gold and silver mineralization," stated Dr. Simmons. "With substantial veins exposed at surface and potential to encounter epithermal vein mineralization approximately 50 to 200 metres below surface in the areas examined, Table Mountain presents a compelling exploration opportunity."

Management commentary

"Dr. Simmons's review provides valuable external technical support for our geological model and a practical vertical framework for targeting in the maiden drill program," stated Mr. Smith, CEO and a director of Toogood Gold. "Our excitement continues to build as our understanding of the system advances, and Stuart's insights strengthen our confidence in Table Mountain's discovery potential."

Technical review and interpretation

Dr. Simmons's review supports the company's interpretation that Table Mountain exposes the upper portions of a well-preserved, mineralized low-sulphidation epithermal system. Quartz textures, clay alteration and opaline silica interpreted to have formed at or near the paleo-water table indicate a shallow level of exposure, supporting the potential preservation of the principal gold-silver target at relatively shallow, drill-testable depths.

Widespread lattice quartz and crustiform-colloform banding provide evidence of vigorous boiling and high hydrothermal fluid flow. These textures occur within major veins, hydrothermal breccias and permeable volcanic units, indicating that hydrothermal fluids moved through multiple structural and stratigraphic pathways. Boiling is an important ore-forming process capable of causing gold and silver to precipitate from hydrothermal fluids.

Table Mountain contains multiple structurally controlled epithermal quartz veins approximately 0.5 metre to three metres wide with anomalous precious metals and the pathfinder elements arsenic, antimony, mercury, molybdenum and thallium. These include the Widowmaker vein, which is exposed intermittently over approximately one kilometre. The company interprets the mineralized structure to continue beyond the exposed segment based on an extensive train of epithermal vein float along strike.

Cuspate opaline silica and intense silicification observed across the areas examined further support shallow-level preservation and widespread hydrothermal fluid flow.I ntense silicification of permeable volcanic units, including altered tuff with strong pathfinder anomalism, indicates widespread hydrothermal fluid flow beyond the principal veins. Multiphase silicification and lattice quartz within brecciated rhyolite provide further evidence of repeated fluid flow and boiling along the Widowmaker trend.

Based on the interpreted level of exposure, Dr. Simmons identified potential to encounter epithermal vein mineralization approximately 50 to 200 metres below the respective present-day erosion surfaces in both sectors examined. This interval provides an initial vertical framework for drill targeting and does not constrain the system's deeper extent.

Next steps

Toogood is advancing Table Mountain toward a maiden drill program. Current work is focused on integrating Dr. Simmons's interpretations with geological mapping, rock and soil geochemistry, lidar, magnetics, and gravity to refine the structural and vertical controls on mineralization.

The company also plans to complete approximately 15 line kilometres of CSAMT (controlled-source audio-frequency magnetotelluric) surveying to improve its understanding of subsurface structures, vein corridors and alteration beneath cover. The combined data sets will be used to rank target areas and finalize drill hole locations, orientations and planned depths.

In parallel, Toogood is refining potential drill pad locations along approximately one kilometre to 1.5 kilometres of the Widowmaker trend, advancing access planning and preparing the required permitting submissions for the maiden drill program.

About Dr. Simmons

Dr. Simmons is a consulting geologist and research professor at the University of Utah's Energy & Geoscience Institute. He is internationally recognized for his work on epithermal gold-silver deposits, geothermal resources, and the geological, hydrological and geochemical controls on hydrothermal fluid flow and precious metal mineralization in active and ancient systems.

Dr. Simmons earned his MS and PhD in geology from the University of Minnesota and held academic positions at the University of Auckland and Colorado School of Mines before joining the University of Utah. His field and research experience includes hydrothermal systems and mineral deposits across the Pacific Rim, including New Zealand, Mexico, Indonesia, Chile and the Western United States.

He has written or co-written more than 70 technical papers in refereed journals and conference proceedings. Dr. Simmons is a former president of the Society of Economic Geologists (SEG), former chair of the SEG publications board and former member of the editorial board of Economic Geology. He received the SEG Silver Medal in 2014 and the SEG Marsden Medal in 2018.

Qualified person

Colin Smith, MSc, PGeo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Smith is not independent of the company as he serves as its CEO and a director and owns securities of the company.

Dr. Simmons has reviewed and approved the statements attributed to him and the summaries of his observations and interpretations contained in this news release.

About Toogood Gold Corp.

Toogood Gold is a Canadian exploration company focused on the discovery and advancement of high-grade gold systems in Tier 1 mining jurisdictions. The company has two core areas of focus: the Table Mountain project in Nevada, where the company has an option to earn a 100-per-cent interest in a large, undrilled low-sulphidation epithermal system with extensive surface alteration and multiple mineralized vein exposures; and the district-scale Toogood gold project in Newfoundland, where the company has an option to earn a 100-per-cent interest in a 164-square-kilometre land package covering a highly underexplored gold district with multiple target areas and demonstrated gold prospectivity.

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