Tudor Gold Submits Application to B.C. Government to Protect Treaty Creek Mineral Tenures

Rhea-AI Summary

Tudor Gold Corp. (TSXV: TUD) has submitted materials opposing KSM Mining ULC's application for a new License of Occupation (LoO) to protect its mineral tenures at the Treaty Creek project. The company argues that any LoO allowing KSM Mining to construct MTT tunnels through Tudor's claims is subject to Tudor's prior rights. President & CEO Ken Konkin emphasized Tudor's commitment to protecting its newly discovered Goldstorm Deposit while expressing willingness to collaborate with Seabridge Gold to find a mutually beneficial solution. This action follows Tudor's previous stance announced in November 2023, highlighting the ongoing dispute over mineral rights and access in the region.

Positive

• Tudor Gold is actively defending its mineral rights at Treaty Creek
• The company has discovered the Goldstorm Deposit, potentially adding value to its assets

Negative

• Ongoing dispute with KSM Mining could lead to legal complications or project delays
• Uncertainty surrounding the resolution of the MTT Tunnels issue may impact future development plans

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") announces that on July 19, 2024, the Company submitted materials and submissions in response to and opposing the application of KSM Mining ULC (KSM Mining) for a new License of Occupation (LoO). The response was made to protect the mineral tenures of Tudor and the pre-existing rights of Tudor to the mineral claims that may be affected by a new license of occupation being granted.

Ken Konkin, P. Geo., President & CEO of Tudor Gold Corp., comments: "As per the Company news release dated November 20, 2023, it is the Company's position that any LoO which allows access for KSM Mining to construct the MTT tunnels through Tudor's mineral claims is subject to the prior rights of Tudor to its mineral tenures. As a result, the Company will continue to strongly oppose any LoO and MTT Tunnel route planned by KSM Mining that would impair Tudor's newly discovered Goldstorm Deposit. As previously stated on numerous occasions, Tudor is committed to collaborating with Seabridge Gold to find a solution to resolve the problem of their MTT Tunnels and find a resolution that will benefit all stakeholders involved."

As the matters are before the governmental decision maker, Tudor. makes no further comment on the merits of this matter.

About Treaty Creek and the Goldstorm Deposit

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 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ (21.66 Moz gold grading 0.92 g/t, 2.87 billion pounds (Blbs) copper grading 0.18%, 128.73 Moz silver grading 5.48 g/t) and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ (4.88 Moz gold grading 1.01 g/t, 503.2 Mlb copper grading 0.15%, 28.97 Moz silver grading 6.02 g/t), with a pit constrained cut-off of 0.7 g/t AuEQ and an underground cut-off of 0.75 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 nested pulses of diorite intrusive stocks and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 15.65 Moz AuEQ grading 1.22 g/t AuEQ (9.99 Moz gold grading 0.78 g/t, 2.73 Blbs copper grading 0.31%, 73.47 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 2.86 Moz AuEQ grading 1.20 g/t AuEQ (1.87 Moz gold grading 0.79 g/t, 475.6 Mlb copper grading 0.29%, 13.4 Moz silver grading 5.63 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the Deposit.

About Tudor Gold

TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims in the Golden Triangle of British Columbia (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 Newmont Corporation'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
Vice President of Investor Relations and Corporate Development
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com; or

Patrick Donnelly
Vice President of Capital Markets
Phone: (604) 559 8092
E-Mail: patrick@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 the key objectives in the Company's strategic plan, and 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 connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's strategic plan and 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217266

FAQ

What action did Tudor Gold Corp (TDRRF) take regarding KSM Mining's License of Occupation application?

On July 19, 2024, Tudor Gold Corp submitted materials opposing KSM Mining ULC's application for a new License of Occupation to protect its mineral tenures at the Treaty Creek project.

Why is Tudor Gold Corp (TDRRF) opposing KSM Mining's License of Occupation application?

Tudor Gold is opposing the application to protect its pre-existing rights to mineral claims that may be affected by a new license of occupation, particularly its newly discovered Goldstorm Deposit.

What is Tudor Gold Corp's (TDRRF) stance on collaboration with Seabridge Gold?

Tudor Gold Corp is committed to collaborating with Seabridge Gold to find a solution for the MTT Tunnels issue that benefits all stakeholders involved.

When did Tudor Gold Corp (TDRRF) first announce its position on KSM Mining's License of Occupation?

Tudor Gold Corp initially announced its position on KSM Mining's License of Occupation in a news release dated November 20, 2023.