Highlights Include 1.31 g/t AuEQ over 337.5 Meters in Hole GS-23-167 and 1.01 G/t AuEQ over 412.5 Meters in Hole GS-23-164

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2023) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor Gold") is pleased to present the first set of drill results for the 2023 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.

Since the beginning of this year's Program, the Company has successfully completed over 12,000 meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The five drill holes reported in this release are located in the northeastern area of the Goldstorm Deposit. Click to view plan map and cross sections.

Ken Konkin, President and CEO, comments: "We are very pleased to report the discovery of continued strong gold, silver, and copper mineralization outside the previously defined resource area with 150-m step-out holes GS-23-164 and GS-23-167. The overall strength and consistency of the Goldstorm system continues to amaze our technical team as the deposit remains open in all directions and at depth. Our continued success of these critical first-round results has prompted us to build several more drill pads designed to test all northern aspects to all domains as there appears to be no end in-sight to the Goldstorm Au-Cu-Ag mineralization as of yet. Equally important was the success of definition hole GS-23-168 within a vast block of the 300H Domain. The goal is to increase drilling density to potentially upgrade this large block into the Indicated category from the Inferred category of the Mineral Resource. GS-23-168 intersected 309.0 m of 1.02 g/t AuEQ including an enriched portion averaging 1.40 g/t AuEQ over 204.0 m, with a core of 1.99 g/t AuEQ over 75 m. Based on these very encouraging results, we have decided to pursue the northern aspects of the Goldstorm Deposit with five drill rigs, leaving one exploration rig to further drill-test the Perfectstorm Zone."

GOLDSTORM DEPOSIT STEP-OUT DRILLING

SECTION 119+50 NE

• GS-23-164, a 150 m northeast step-out was drilled to target the gold-dominant DS-5 Domain. Mineralization was encountered over a length of 412.5 m grading 1.01 g/t AuEQ (0.93 g/t Au, 6.26 g/t Ag, 0.01 % Cu), containing a higher-grade intercept of 124.5 m grading 1.51 g/t AuEQ (1.38 g/t Au, 11.54 g/t Ag, 0.01% Cu) with a very rich segment over 7.5 m of 11.56 g/t AuEQ (11.46 g/t Au, 9.34 g/t Ag, 0.01 % Cu). The DS-5 Domain remains open to the north and northeast. Another step-out drill pad was constructed 150 m to the north of this drill hole to allow continued exploration of the DS-5 Domain and the gold-copper dominant CS-600 Domain.

• GS-23-167, a 150-m northeast step-out of the CS-600 Domain was drilled to expand the domain outside the northeastern edge of the 2023 Mineral Resource area. The drill hole returned an intercept of 337.5 m averaging 1.31 g/t AuEQ (0.87 g/t Au, 6.89 g/t Ag, 0.32 % Cu) with an enriched zone of 94.5 m averaging 1.80 g/t AuEQ (1.14 g/t Au, 9.87 g/t Ag, 0.47 % Cu). Additional step-out drill holes have been completed, or are currently underway, to continue expanding the CS-600 Domain (GS-23-169, GS-23-170, GS-23-172). Assays will be released when they are received and reviewed.

GOLDSTORM DEPOSIT DEFINITION AND INFILL DRILLING

SECTION 117+00 NE

• GS-23-168: This hole intercepted unexpected 300-H Domain mineralization. Starting at 462 m, an intercept over a drill length of 309.0 m averaged 1.02 g/t AuEQ (0.96 g/t Au, 4.62 g/t Ag, 0.01 % Cu) with an enriched segment of 27.0 m grading 3.15 g/t AuEQ (3.07 g/t Au, 6.80 g/t Ag, 0.01 % Cu). This hole was shut down and had a wedge set at 684 m down hole to improve its target of the CS-600 Domain at depth. This wedged drill hole, GS-23-168-W1, is currently at a depth of 1900 m, drilling through a strongly mineralized area of the CS-600 Domain.

• GS-23-163, GS-23-165: These drill holes were not sampled and shutdown early due to excessive drill hole deviation. Their original target was re-drilled as hole GS-23-168.

Table 1: Drilling Results for Goldstorm Deposit in Press Release July 10, 2023

• All assay values are uncut and intervals reflect drilled intercept lengths.
• HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
• The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
• True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Table 2: Drill data for holes in Press Release July 10, 2023

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

¹ AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)

About Tudor Gold

TUDOR GOLD CORP. 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 a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Limited's Brucejack property to the southeast.

ON BEHALF OF THE BOARD OF DIRECTORS OF

TUDOR GOLD CORP.

"Ken Konkin"

Ken Konkin
President and Chief Executive Officer

For further information, please visit the Company's website at www.tudor-gold.com or contact:

Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com

or

Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@tudor-gold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Treaty Creek Section Areas – Plan View

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Goldstorm Deposit - Section 117+00 NE Viewing Northeast

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Goldstorm Deposit - Section 119+50 NE Viewing Northeast

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172939