Dr. Fletcher Morgan reports

TDG GOLD CORP. ANNOUNCES PRIVATE PLACEMENT AND WELCOMES NEW 9.9% INSTITUTIONAL INVESTOR

TDG Gold Corp. has arranged a non-brokered private placement of up to 16,176,470 common shares at a price of 17 cents per share to raise proceeds of up to $2.75-million. TDG has received a firm commitment from a new institutional resource sector investor to acquire 11.6 million shares through the offering and is expected to own approximately 9.9 per cent of TDG's issued and outstanding common shares upon completion of the offering.

Dr. Fletcher Morgan, chief executive officer and director of TDG, commented: "TDG is pleased to welcome the investment of our new cornerstone institutional investor and the validation of our systematic evaluation of the potential of our Toodoggone properties. The proceeds from the offering will allow us to follow up on our exciting results from Mets, putting TDG in a strong position to complete our existing field programs at our properties in the Toodoggone mining district, setting us up for an exciting 2024."

The shares issued in connection with the offering will be subject to a four-month-and-a-day hold period. In addition, the offering is subject to the approval of the TSX Venture Exchange. Finder's fees may be payable on the offering.

Use of proceeds

The company intends to use the proceeds of the offering to finance the cost of the continuing exploration programs at the company's projects, with a particular focus on defining the potential of the high-grade Mets gold system (see news releases dated Sept. 7 and 11, 2023) and possible extensions; continuing to evaluate the potential for a porphyry-style bulk-tonnage copper-gold system at Baker (see news releases dated July 25, Aug. 15 and Sept. 6, 2023); defining a significantly larger Greater Shasta-Newberry (GSN) gold-silver system (see news release dated March 20, 2023); and for general working capital purposes. Work currently under way includes detailed ground-based geophysics at Mets; continued relogging and sampling of historic core and analysis of greater than 225 detailed, system-wide geochemical sampling at Baker; and relogging and sampling of historic core from the GSN area outside of the defined mineral resource (see news release dated May 1, 2023). Results from these programs will continue to be announced as they become available over the coming months.

About TDG Gold Corp.

TDG is a major mineral 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 historical high-grade gold Mets developed prospect, all which are all road accessible, and combined have over 65,000 metres 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 metres of modern HQ drill testing of the known mineralization occurrences and their potential extensions.

Qualified person

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

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