Mr. Fletcher Morgan reports

TDG GOLD CORP. REPORTS NEAR SURFACE PORPHYRY-STYLE COPPER-GOLD AT BAKER AND EXTENDS HIGH GRADE B-VEIN, TOODOGGONE

The first hole from TDG Gold Corp.'s relogging, resampling and assaying of historical core appears to support the concept that the Baker area of its Toodoggone properties may represent a bulk-tonnage, porphyry-style copper-gold target that was later overprinted by high-grade epithermal gold mineralization. Historical hole BK87-16 was drilled in 1987 targeting high-grade gold-silver mineralization associated with the Baker B-vein that was the target of mining at that time, with ore milled at the nearby Baker mill. As a result, it was only sporadically sampled based on that target model. TDG's relogging and resampling of the entire hole have not only confirmed the historical high-grade Au-Ag epithermal-style mineralization, extending this style of mineralization to depth and along strike of the historical mining, but have also identified porphyry-style copper-gold veining, alteration and mineralization comprising bornite, chalcopyrite and molybdenite over more than 60 metres of core length starting from near surface and ending in mineralization.

The intercept comprises 0.1 per cent copper and 0.7 gram per tonne gold over a 60.5 m intercept from 62.6 m down hole, including 0.27 per cent Cu and 2.1 g/t Au over 17.9 m from 98.2 m down hole.

Steven Kramar, TDG's vice-president, exploration, commented: "We are not aware of any detailed logging and sampling that has been focused on the porphyry-style copper-gold potential at Baker. These first assay results from resampling a single diamond drill hole completed at the Baker B-vein in 1987, integrated with geophysical and geochemical data, validates the copper-gold potential at Baker. The drill hole was only drilled to a depth of 123 metres, which is deeper than most of the historical drill testing and ends in copper-gold mineralization."

TDG's 2023 exploration program at Baker

TDG is approaching Baker as a back-to-basics project with potential to host a bulk-tonnage porphyry-style copper-gold deposit that is most likely located deeper than historically drilled holes. By relogging, resampling and assaying the historical core with a focus on identifying paragenesis of mineralized veins, TDG aims to use the new information to help identify vectors to potential porphyry targets for drill testing in 2024. In parallel with the historical core program, TDG has begun an extensive and intensive stream sediment sampling program across the Baker footprint focused on the potential for a porphyry target.

TDG's historical core relogging, resampling and assaying program is low cost and aims to recover and resample as much as possible of the approximately 30,000 m of diamond drilling known to have been completed in 342 drill holes across the 15-square-kilometre Baker project. The Baker historical core inventory is located at the Baker camp and mill site. So far, TDG has identified 91 complete/nearly complete drill holes for relogging, of which 41 are restacked and ready for logging, eight have been fully relogged, and three have been submitted for assaying.

During the historical drilling that took place between 1974 and 2006, only approximately 15 per cent of the drill cores are estimated to have been assayed for gold-silver and virtually none for any other elements, including copper. TDG has noted the presence of porphyry-style veining and alteration and the occurrence of bornite (Cu5FeS4), chalcopyrite (CuFeS2) and molybdenite (MoS2) throughout the eight drill holes logged so far. TDG has also noted a significant reduction in BK87-16 for the grades for gold and silver grades in resampled core compared with historical recorded results for the same hole -- see results comparison section below.

Historical Baker mine

Baker is a former-producing, high-grade Au-Ag mine that operated intermittently from 1981 to 1997. Exploration efforts continued sporadically through to 2010. The focus of exploration historically was to identify high-grade epithermal Au-Ag veins for potential extraction and processing through the Baker mill, which originally included a copper circuit before being redesigned to process Shasta ore through to its closure in 2012. Baker is located adjacent to TDG's Shasta resource-stage, epithermal Au-Ag project and existing infrastructure consisting of mining road, historical mill and tailings storage facilities.

Baker B-vein

The Baker B-vein was the second zone where small-scale extraction took place at Baker. Production records from mining at Baker noted approximately 17,500 tons of ore extracted from the B-vein by Sable Resources at a grade of 0.9 ounce per ton Au, five o/t Ag and 1 per cent Cu. Over 8,400 m of historical diamond drilling is recorded at the B-vein in 86 drill holes. Most historical assaying took place at the Baker mill laboratory. A very low percentage (less than 5 per cent) of historical core from the B-vein appears to have been assayed for copper, based on available assay certificates.

The presence of chalcopyrite/bornite/molybdenite has been identified in multiple core samples targeting the B-vein by TDG. This is the most common sulphide assemblage of primary Cu-Au porphyry deposits. Past academic studies support Baker mineralization having a component of magmatic water in addition to meteoric water in the hydrothermal fluid. The magmatic component of the hydrothermal fluid is suggestive of the influence of a porphyry system at depth.

By systematically relogging the historical core, including drill holes where extraction is known to have taken place, followed by resampling where appropriate, TDG is aiming to assemble the first comprehensive copper-focused drill database for Baker and to select drill-ready targets for 2024.

Chris Dail, a technical consultant leading TDG's regional program, commented: "There were some truly spectacular gold-silver intercepts reported in the historical drill logs across Baker. The widespread nature of these intercepts, albeit with sporadic assaying, with a copper signature, hints at a much bigger porphyry system nearby. The only way forward is back to basics but we're fortunate to have access to the inventory of historical core that we can methodically work through."

Alteration/mineralization

The core exhibited multiple generations of veining associated with bornite, chalcopyrite and molybdenite crosscutting pervasive pyrite plus sericite (phyllic) alteration in the rock matrix. The phyllic alteration and sporadic potassic alteration crosscut earlier epidote plus magnetite alteration and veining. These porphyry assemblages, represented by the 62.6 m mineralized intercept (0.91 g/t gold equivalent/0.74 per cent copper equivalent), are crosscut by high-grade intermediate-sulphidation epithermal veins, represented by the 4.8 m intercept (8.11 g/t AuEq/6.55 CuEq). This is suggestive that an earlier porphyry event was overprinted by a later epithermal system and historical efforts focused on the epithermal potential whereas the porphyry potential appears to have been underappreciated. Alteration was generally pervasive throughout the entire drill hole, with alteration and mineralization increasing with depth. A noticeable structural break suggests a fault-bounded mineralized bottom half (greater than 60 m, down hole) of the drill hole where mineralization and alteration increase abruptly, and the drill hole ends in moderate Au plus Cu mineralization: 3.1 m of 0.07 per cent Cu, 0.21 g/t Au and six g/t Ag from 120 to 123.1 m depth (0.32 g/t AuEq or 0.26 per cent CuEq).

Results comparison: 2023 assays from resampling versus historical recorded assays

Historically recorded results for the same diamond drill hole (BK87-16) are presented herein.

Historically selected sample intervals may differ from assayed intervals of resampled core for logistical and scientific reasons. The historically published results indicate significantly higher grades for Au (up 28 per cent) and Ag (up 40 per cent), and increased Cu grades (up 11 per cent) as compared with the assaying of resampled core by TDG. Differences could be due to a combination of historical effects including: sample selection methodology, a nugget effect and/or laboratory methodology particularly for assay results generated by the historical Baker mill laboratory.

Quality assurance/quality control

Samples for the Baker 2023 core relogging program were handled via rigorous chain of custody, between collection, processing and delivery to the ALS laboratory in North Vancouver, B.C. The historic drill cores were stored by previous operators in a core storage yard near the Baker mill. TDG staff recovered and inventoried the historic core and compared and validated the recovered core against historic core logs, box labels and core blocks. The core was subsequently relogged, photographed and sampled at TDG's Baker mine site and processed by geologists and technicians. Quality assurance and quality control materials were inserted into the sampling sequence during geological sample selection. The drill core was selected for sampling and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker mine site, to Bandstra Transportation Systems in Prince George, B.C., and transported to ALS's preparation facility in Kamloops, B.C., and ultimately to the ALS laboratory in North Vancouver, B.C. Samples were prepared and analyzed following procedures Au-GRA21 for Au and ME-ICP61 for trace elements. Overlimit concentrations of precious or base metals were analyzed (where applicable) by Au-GRA22, Ag-GRA22 and Cu-OG21 for Au, Ag and Cu, respectively.

QA/QC is maintained internally at the lab through rigorous use of internal certified reference materials, blanks and duplicates. An additional QA/QC program was administered by TDG through the verification of lab results via use of certified reference materials (CRMs) and blank (unmineralized) samples that were blindly inserted into the sample batch. If a QA/QC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QA/QC sample are retested.

BK87-16 utilized NQ size for drill core. During the resampling process, the entire remaining drill core was consumed (either the second half of the remaining material, or the entire remaining unsampled material) due to the small diameter of the core. The historical collar location was verified by hand-held GPS and will be sited utilizing a more precise DGPS in due course.

Qualified persons

The geologically related technical content of this news release has been reviewed and approved by Mr. Kramar, PGeo, vice-president, exploration, for TDG and a qualified person, as defined under National Instrument 43-101.

Clarification on closed private placement

The company also wishes to confirm the total agent and finder compensation that it paid in connection with the brokered private placement of the company that closed in two tranches, on April 26 and July 7, 2023. The company paid an aggregate cash fee of $130,259 and granted 556,577 non-transferable broker warrants of the company to Raymond James Ltd. and its syndicate of agents. Each broker warrant entitles the holder thereof to purchase one-half of one common share of the company at an exercise price of 30 cents per share for a period of three years from the date of issuance. The company also paid aggregate cash finders' fees of $52,900 and granted 144,428 non-transferable finder warrants of the company to arm's-length finders of the company. Each finder warrant entitles the holder thereof to purchase one common share of the company at an exercise price of 30 cents per share for a period of three years from the date of issuance.

About TDG Gold Corp.

TDG is a major mineral and placer tenure holder in the historical Toodoggone production corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former-producing, high-grade gold-silver Shasta and Baker mines, which produced intermittently between 1981 and 2012, and the high-grade gold-silver Mets development project, all which are all road accessible, and have over 65,000 m of historical drilling. The projects have been advanced through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, at Shasta, 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May, 2023, TDG published an updated mineral resource estimate for Shasta (see TDG news release May 1, 2023) and which remains open at depth and along strike. In January, 2023, TDG defined a larger exploration target area adjacent to Shasta (Greater Shasta-Newberry; see TDG news release Jan. 25, 2023) with drill-ready targets where TDG aims to undertake follow-up exploration activities in 2023.

We seek Safe Harbor.