Mr. Colin Smith reports

TOOGOOD GOLD DEFINES TWO PRIORITY DRILL TARGET CORRIDORS AT THE TABLE MOUNTAIN PROJECT, NEVADA

Toogood Gold Corp. has defined two priority, multikilometre drill target corridors, the Widowmaker and Pacifico trends, following completion of 1:5,000-scale geological mapping at its Table Mountain gold-silver project in Lincoln county, Nevada.

Highlights

• Phase 1 mapping completed: Detailed 1:5,000-scale mapping has refined the volcanic stratigraphy, hydrothermal alteration, structural framework and epithermal veining across the project.
• Widowmaker trend defined over more than five kilometres: A major arcuate structural corridor extending through the core of the epithermal system and hosting a metre-scale epithermal vein intermittently exposed over more than one km, with associated float extending along a trend of more than two km.
• Pacifico trend defined over more than five km: A subparallel arcuate structural corridor located approximately 500 m east of Widowmaker and comprising multiple prospective faults hosting epithermal veins.
• Multiple priority drill targets identified: Kilometre-scale bends, stepovers, jogs and structural intersections define high-priority areas for drill testing.
• Evidence of boiling and system preservation: Vein and silica textures indicate widespread boiling and suggest that the prospective gold-silver interval may be preserved at depth.
• Exploration advancing: Field acquisition for UAV (unmanned aerial vehicle) magnetics and ground gravity, together with soil and rock sampling, has been completed, with a 15-line-kilometre CSAMT survey schedulled for September.
• Drill permitting initiated: Notice of intent (NOI) work is under way in support of the company's planned maiden drill program.

Management commentary

"We are increasingly encouraged by the structural architecture emerging at Table Mountain," stated Lee Hess, vice-president of exploration. "Our work continues to define a large, well-preserved epithermal system characterized by laterally extensive, interconnected structural corridors that we believe provided important pathways for hydrothermal fluid flow. The scale and continuity of these structures, together with the intensity of alteration observed across the property, highlight the potential for a significant mineralizing system at depth. From a structural geology perspective, Table Mountain has many of the characteristics we look for when evaluating large-scale, low-sulphidation epithermal gold-silver systems, and we are excited to advance these corridors toward drill testing."

"Completion of phase 1 mapping has significantly advanced our understanding of Table Mountain, and established Widowmaker and Pacifico as the project's two highest-priority drill-target corridors," stated Colin Smith, chief executive officer and director. "Both trends combine complex fault architecture, multiple epithermal veins and widespread evidence of boiling within a well-preserved epithermal system. With drill permitting under way, we are integrating the pending analytical and geophysical results to refine targets and advance Table Mountain toward its maiden drill program."

Geological and structural mapping

The company has completed 1:5,000-scale geological and structural mapping across Table Mountain. The program refined the volcanic stratigraphy and distribution of hydrothermal alteration, epithermal veins, hydrothermal breccias and major structures across the project.

Table Mountain comprises predominantly of well-preserved, generally subhorizontal Early Miocene poorly welded rhyolitic tuffs, intensely welded flows and intrusive rocks overlying older Oligocene rocks of the Indian Peak Caldera complex. A fluvial, volcano-fanglomerate unit gradationally overlies the explosive tuff sequence and may record breaching of a caldera lake and a rapid change in the paleo-water table. The subhorizontal stratigraphy suggests that the epithermal system has experienced limited postmineral fault displacement and block rotation. Local offsets are observed in the southern project area, where major northeast-trending structural corridors down-drop the volcanic sequence toward the southeast.

Epithermal quartz veins, hydrothermal breccias, chalcedonic blankets and recrystallized opaline silica occur along structures and lithological contacts throughout Table Mountain. These features occur within a coherent, approximately four km by two km hydrothermal alteration footprint previously defined by hyperspectral surveying.

Mapping identified two principal subparallel, arcuate structural corridors, Widowmaker and Pacifico, which together comprise more than 10 km of cumulative prospective strike. A hydrothermal breccia unit, mapped over approximately two km of strike, is spatially bounded by the two corridors. The rhyolitic protolith is pervasively silicified and brecciated, contains widespread lattice quartz textures, and is locally crosscut by chalcedonic veins. Together, these features record multiple phases of hydrothermal fluid flow, brecciation and silica sealing.

Widowmaker is an arcuate structural corridor extending for more than five km through the core of the epithermal system. A metre-scale epithermal quartz vein, dipping 75 degrees to 85 degrees west-northwest, is intermittently exposed over more than one km. Vein float indicates a potential strike extent of more than two km. Mapping also identified additional banded quartz veins, pervasive silicification and hydrothermal brecciation along the corridor.

Multiple flexures, jogs and structural intersections occur along Widowmaker, including an approximately three to four m wide northwest-trending quartz vein intersecting the southwestern portion of the corridor. These areas of structural complexity may have enhanced permeability and represent priority targets for drill testing.

Pacifico is a subparallel arcuate structural corridor located approximately 500 m east of Widowmaker. The corridor comprises more than five km of cumulative mapped fault trace and hosts multiple structurally controlled, banded epithermal quartz veins. Pervasive silicification and localized steam-heated alteration occur along the corridor.

The spatial association of veining, alteration, hydrothermal breccias, structural complexity, and historical gold and mercury anomalies defines multiple priority areas for CSAMT coverage and continued drill-target refinement.

Next steps

Toogood's near-term work program at Table Mountain will include approximately 15 line-kilometres of controlled-source audio-frequency magnetotelluric (CSAMT) surveying by Zonge International across priority target areas along the Widowmaker and Pacifico corridors.

CSAMT is designed to image subsurface electrical-resistivity contrasts potentially associated with major structures, silicification, alteration and hydrothermal fluid pathways. The survey will help evaluate the geometry and continuity of mapped structures and alteration beneath areas of limited exposure, providing an additional data set for refining priority drill targets.

The company will also receive, compile and interpret all pending soil and rock assay results and final processed ground-gravity and unmanned aerial vehicle-magnetic products. These data sets will be integrated with the completed geological mapping and lidar (light detection and ranging) to rank and refine priority drill targets and develop drill sections across the Table Mountain epithermal system.

In parallel, SWCA Environmental Consultants has been engaged to advance the NOI process for the company's planned maiden drill program.

Historical rock sampling and analytical methods

The rock-sample gold and mercury values shown in figures 1 and 4 (from the original version of this release) are from first-pass reconnaissance sampling completed by Orogen Royalties in 2025 and were previously disclosed by the company on March 2, 2026. Samples were selective or grab in nature and are not necessarily representative of overall grade or true width. Samples were analyzed by ALS Geochemistry using Au-ICP21 (30-gram fire assay with ICP-AES finish) and multielement methods Hg-MS42 and ME-MS61. Sample preparation was completed at ALS Reno, with analyses completed at ALS Vancouver. Orogen's reconnaissance program did not include the insertion of certified reference materials, blanks or field duplicates; accordingly, the results should be considered preliminary. The company is independently verifying these results through its 2026 rock sampling program, for which assays remain pending.

Qualified person

Colin Smith, MSc, PGeo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Smith is not independent of the company, as he serves as its CEO and director, and owns securities of the company.

About Toogood Gold Corp.

Toogood Gold is a Canadian exploration company focused on the discovery and advancement of high-grade gold systems in Tier 1 mining jurisdictions. The company has two core areas of focus: the Table Mountain project in Nevada, where the company has an option to earn a 100-per-cent interest in a large, undrilled low-sulphidation epithermal system with extensive surface alteration and multiple mineralized vein exposures; and the district-scale Toogood gold project in Newfoundland, where the company has an option to earn a 100-per-cent interest in a 164 square km land package covering a highly underexplored gold district with multiple target areas and demonstrated gold prospectivity.

We seek Safe Harbor.