Mr. Fletcher Morgan reports

TDG GOLD CORP. REPORTS BROAD, NEAR SURFACE PORPHYRY-STYLE COPPER-GOLD AT BAKER

TDG Gold Corp. has released assay results from two more historical drill holes, both of which appear 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 a high-grade epithermal gold-silver system. Historical drill holes BK86-10 and BK87-04 were drilled in 1986 and 1987, respectively, targeting high-grade gold-silver (Au-Ag) mineralization associated with the Baker B-vein. As a result, both holes were only selectively sampled at the time, based on that target model.

TDG's relogging and resampling of the full length of these holes have not only confirmed the historical high-grade Au-Ag epithermal-style mineralization, extending this style of mineralization to depth, but has also identified porphyry-style copper-gold (Cu-Au) veining, alteration and sulphide mineralization, composed of pyrite, chalcopyrite, molybdenite and minor bornite over more than 100 metres of core length, starting from near surface and ending in mineralization in both historical drill holes.

The broad length-weighted average grade intercept for diamond drill hole BK86-10 comprises 0.1 per cent Cu, 1.07 grams per tonne (g/t) Au and four g/t Ag over 100.26 metres from 40.2 m downhole, including 0.2 per cent Cu and 2.7 g/t Au over 37.4 m from 84.5 m downhole.

Diamond drill hole BK87-04 tested the B-vein from the northwest to southeast, opposite the dominant drill trend, and intercepted the epithermal Au-Ag overprint at 135 m downhole. It also encountered a previously unrecorded 132.4 m interval of Cu-Au porphyry-style mineralization from 14.6 m depth, ending in mineralization at 147 m downhole.

Steven Kramar, TDG's vice-president of exploration, commented: "These latest assay results from hole BK86-10 indicate that Baker hosts broad, shallow, copper-gold mineralization that was not historically mined. We interpret the broad mineralized intercept in BK87-04 as showing the presence of previously unrecognized shallow copper-gold halo that extends the footprint of this exploration target and helps with our vectoring."

TDG's 2023 exploration program at Baker

As reported in the company's July 25, 2023, news release, 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. TDG has a relogging, resampling and assaying program under way that aims to use the new information to help identify vectors to potential porphyry targets for drill testing in 2024.

TDG has also completed an extensive and intensive stream sediment sampling program across the Baker footprint, focused on the potential for a porphyry target. Results are anticipated by early September, 2023.

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 metres 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, 10 have been fully relogged and 10 have been submitted for assaying; results have been received from three (reported herein and on July 25, 2023).

During the historical drilling that took place between 1974 and 2006, only approximately 15 per cent of the drill core length is 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 10 drill holes logged so far. TDG has also noted a significant increase of gold grades in resampled core from hole BK86-10 as compared with historical recorded results for the same hole. Comparable results for BK87-04 are within the historically reported range -- see the results comparison section below.

By systematically relogging the historical core, including drill holes where mining 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.

Alteration/mineralization

BK87-04 and BK86-10 intersected porphyry-style veining, alteration and mineralization. Volcanic rocks were consistently propylitic- and phyllic-altered, and demonstrated multigenerational stockwork-style veining throughout, with pyrite, chalcopyrite, sphalerite and bornite, often associated with or within veins and their selvages, and with potassic alteration and flooding. These drill holes support the structural break observed in BK87-16 (see TDG news release from July 25, 2023) where Au-Cu mineralization increases abruptly, with both drill holes ending in weak/moderate Au-Cu mineralization. Based on available relogging and geochemical data acquired to date, the thickness of the east-northeast-striking, steeply dipping, altered and mineralized zone appears to be a minimum of approximately 120 metres and open at depth.

Reassay of the historical intersection of the B-vein confirmed the Au-Ag grades (see results comparison section below) and widths historically reported. Both drill holes continued to support the concept that the Baker B-vein is surrounded by a lower-grade halo of Cu-Au mineralization, and the Cu mineralization is likely a function of metal scavenging from a larger porphyry system at depth.

Results comparison: 2023 assays from resampling versus historical recorded assays

Historically recorded results for the diamond drill holes (BK86-10 and BK87-04) are presented in the table entitled "Historically recorded results for Baker B-vein drill hole BK86-10 and BK87-04."

Historically selected sample intervals may differ from assayed intervals of resampled core for logistical and scientific reasons.

The modern assay results for drill hole BK86-10 indicate significantly higher grade for Au than the historically recorded grade, with an average increase in Au of plus-52 per cent over the same 37.4 m interval, and with positive variability of plus-23 per cent Au and plus-75 per cent Au compared with historically recorded results across two nearly identical higher-grade composites. These differences could be due to a combination of historical effects, including sample selection methodology, nugget effect and/or laboratory methodology, particularly for assay results generated by the historical Baker mill laboratory.

The historically published results for drill hole BK87-04 indicate the broader lower-grade mineralized halo surrounding the high-grade B-vein system reconciles with modern results; variability is within 0.004 part per million (ppm) and 0.3 ppm for Au and Ag, respectively. This suggests that historical results are not subject to any bias in methodology and could be validated in the creation of a potential bulk-tonnage low-grade resource surrounding the historical high-grade Baker vein system.

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 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-MS61 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. Information about methodology can be found on the ALS Global website, in the analytical guide.

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.

BK86-10 and BK87-04 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 RTK in due course.

Qualified person

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

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.