Tudor Gold

Tudor Gold Corp. offers exposure to one of the largest gold discoveries in recent times with an 80% interest in the world-class Treaty Creek Project, one of North America’s largest undeveloped gold-copper-silver deposits located in British Columbia’s Golden Triangle mining district. The Treaty Creek Project hosts an Indicated Mineral Resource of 730.20 million tonnes (Mt) comprised of 21.66 million ounces gold grading 0.92 g/t, 2.87 billion pounds copper grading 0.18% and 128.73 million ounces silver grading 5.48 g/t; and an Inferred Mineral Resource of 149.61 Mt comprised of 4.88 million ounces gold grading 1.01 g/t, 503.2 million pounds copper grading 0.15% and 28.97 million ounces silver grading 6.02 g/t.

The Treaty Creek Project encompasses approximately 17,913 hectares in the heart of the Golden Triangle, situated 40 kilometers from Highway 37 and with access to the Northwest Transmission Line. The property lies adjacent to Seabridge Gold’s KSM deposits, which collectively represent one of the world’s largest undeveloped gold-copper districts. 

The flagship Goldstorm Deposit within the Treaty Creek Project comprises six distinct mineralized zones defined through over 190,000 meters of drilling since 2016, with mineralization remaining open in multiple directions. A seventh high-grade zone, designated SC-1, was identified in 2024 and represents significant underground mining potential with visible gold intersections within a quartz stockwork system. 

Management is assessing the potential to mine the higher-grade mineralization within the Goldstorm Deposit as an underground mining operation to kick start mining at Treaty Creek. An updated Mineral Resource estimate is underway, which will, in addition to updating the overall bulk-tonnage Mineral Resource estimate, delineate the higher-grade (2 grams/tonne gold and higher) gold mineralization

Metallurgical testing has demonstrated solid recoveries of 80.2% for gold through flotation and leaching, 85.8% for copper, and 58.1% for silver in the gold-copper zone. A metallurgical program assessing the recoveries from the major zones of mineralization is currently underway.  

For infrastructure, the project benefits from a paved highway and major transmission line 40 kilometers to the east, proximity to deep-water port facilities at Stewart, and location in a supportive mining jurisdiction where the provincial government has explicitly identified the Golden Triangle as a strategic economic priority

P2 Gold’s executive team brings extensive experience from successful precious metals development and production companies. Most of the management have worked together at Pretium Resources, Silver Standard Resources (now known as SSR Mining) and Canplats Resources. At Pretium, management discovered, permitted, financed, built and operated the Brucejack Mine located roughly 15 kilometers to the south of the Treaty Creek Project.  What’s more, management advanced the Brucejack Mine from discovery to commercial production in under eight years.  

The management team, led by former Pretium President and CEO Joe Ovsenek, is focused on advancing the Treaty Creek Project to production. Key members of the team include Ken McNaughton, Vice President, Development (formerly Pretium's Chief Exploration Officer), Michelle Romero, Vice President, External Affairs (formerly Pretium's Executive Vice President); Ken Konkin, Senior Vice President Exploration (formerly Brucejack's Project Exploration Manager); and Grant Bond, CFO (formerly Pretium's Corporate Controller).

Tudor’s strategy for the advance of Treaty Creek is to focus on the higher-grading gold mineralization of roughly two grams/tonne gold and higher and pursue the potential for development of an underground mine. The Company is in the process of permitting an underground exploration program to better define the higher-grade mineralization.  

While advancing Treaty Creek to production, Tudor will focus its exploration efforts on other known zones on the property to develop a second Mineral Resource at Treaty Creek. In particular, management will focus on the Perfectstorm Zone, which it believes has the potential to be a bulk tonnage gold-silver-copper deposit, with lenses of higher-grade gold and silver mineralization.

Corporately, Tudor currently holds an 80% interest in the Treaty Creek Project and will continue to assess opportunities to increase its interest in the Treaty Creek to 100%. In addition, the Company continues its discussions and proceedings to resolve the land use conflict between the planned Mitchell-Treaty Twinned Tunnels supporting Seabridge’s KSM project and Tudor’s gold-copper Treaty Creek Project.

Tudor Gold is well funded having recently completed a flow-through financing of approximately C$13 million for exploration and expansion of the Mineral Resources at Treaty Creek.  The Company has also completed a non-flow-through financing to fund working capital and corporate objectives.

Capital Structure is comprised of 406 million shares issued and outstanding and 471 million shares fully diluted. Tudor does not have any debt. With a market capitalization of C$333 million (C$0.82/share), Tudor provides significant value with the lowest market capitalization per ounce of indicated gold of peer companies, trading at approximately C$15 per indicated gold ounce compared to peers at C$24 to C$162 per indicated gold ounce.

Tudor Gold Corp. offers investors exposure to one of North America’s largest undeveloped gold-copper-silver deposits at an attractive valuation relative to peer companies, led by a management team with demonstrated success developing mines in the Golden Triangle mining district. The Treaty Creek Project combines world-class resource scale of an Indicated Mineral Resource of 730.20 million tonnes (Mt) comprised of 21.66 million ounces gold grading 0.92 g/t, 2.87 billion pounds copper grading 0.18% and 128.73 million ounces silver grading 5.48 g/t; and an Inferred Mineral Resource of 149.61 Mt comprised of 4.88 million ounces gold grading 1.01 g/t, 503.2 million pounds copper grading 0.15% and 28.97 million ounces silver grading 6.02 g/t, with emerging high-grade underground potential in the SC-1 Zone that could support multiple development scenarios or attract acquisition interest from major mining companies. The valuation discount to peer companies trading at approximately C$15 per indicated ounce compared to peers at C$24 to C$162 per indicated ounce suggests the market has not yet fully recognized either the scale of the deposit or the potential value of high-grade zones that could support underground mining with substantially different economics than bulk tonnage operations alone.

The management team’s track record advancing the nearby Brucejack Mine from discovery to commercial production in under eight years demonstrates execution capabilities in the specific geological, logistical, regulatory, and operational conditions of the Golden Triangle. This experience provides significant competitive advantages in systematic resource expansion, technical study advancement, permitting navigation, and eventual development execution that cannot be easily replicated. The company’s strategic focus on expanding high-grade zones through surface and underground exploration addresses investor concerns about bulk tonnage economics while maintaining optionality inherent in a large-scale polymetallic deposit with metallurgical recoveries of 80.2% gold, 85.8% copper, and 58.1% silver.

Key catalysts through 2026 include completion of the 2025 exploration drill program with potential resource expansion, filing and approval of permits for the underground exploration ramp, commencement of underground development and closer-spaced drilling at SC-1, updated mineral resource estimate potentially highlighting higher-grade zones, and advancement toward preliminary economic assessment outlining development scenarios and project economics. The combination of near-term resource expansion potential, medium-term underground exploration de-risking the high-grade SC-1 opportunity, longer-term development optionality from multiple mining scenarios, and strategic location adjacent to Seabridge Gold’s KSM deposits creates a balanced risk-return profile for investors seeking leveraged exposure to gold and copper development in a Tier-1 jurisdiction with established resources, proven management, and district-scale exploration potential.​​​​​​​​​​​​​​​​