Mr. Walter Coles of Skeena Resources reports

SKEENA FILES EARLY WARNING REPORT REGARDING TDG GOLD CORP.

Skeena Resources Ltd. has filed an early warning report under National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection to its shareholdings in TDG Gold Corp.

On July 14, 2025, Skeena acquired 6,666,667 shares of TDG for an aggregate purchase price of $4-million, or 60 cents per share, as a back-end purchaser from several sellers that acquired the shares in connection with an offering of flow-through shares of TDG.

The share purchase was completed in connection with a broader bought deal financing, pursuant to which TDG issued: (i) 17.15 million non-flow-through shares; (ii) 13,455,000 non-critical mineral charity flow-through shares; and (iii) 7,705,000 critical mineral charity flow-through shares.

Concurrently with the offering, TDG closed an acquisition of Anyox Copper Ltd., pursuant to an amalgamation agreement date June 16, 2025. Pursuant to the acquisition, TDG acquired all of the outstanding common shares of Anyox in exchange for 54,559,565 shares.

Immediately prior to the transactions, Skeena owned and controlled a total of 23 million shares, representing approximately 12.78 per cent of the issued and outstanding shares of TDG. As a result of and immediately following the transactions, Skeena owned and controlled a total of 29,666,667 shares of TDG, representing approximately 10.88 per cent of the issued and outstanding shares of TDG.

The acquisition of the shares was for investment purposes. Skeena may from time to time acquire additional securities of TDG, dispose of some or all of the existing or additional securities, or may continue to hold its shares.

TDG's head office is located at Unit 1, 15782 Marine Dr., White Rock, B.C., V4B 1E6, Canada.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see TDG's profile on SEDAR+.

About Skeena Resources Ltd.

Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek gold-silver project, a past-producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest-cost open-pit precious metals mines in the world, with substantial silver byproduct production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan Nation, Skeena strives to foster positive relationships with indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

We seek Safe Harbor.