Mr. Joseph Ovsenek reports

TUDOR ANNOUNCES PLANS FOR 2026 EXPLORATION PROGRAM AT TREATY CREEK; COMMENTS ON POSITIVE OUTCOME FOR TREATY CREEK PROJECT PERMITTING OVERLAP

Planning is well advanced for Tudor Gold Corp.'s 2026 Treaty Creek exploration program and has provided an update on the land use conflict between Tudor and Seabridge Gold Inc. in respect of the KSM project's Mitchell Treaty Twin Tunnels (MTT).

Treaty Creek 2026 exploration program

Tudor's 2026 Treaty Creek Exploration program has been planned to follow up on its gold discoveries near Treaty Creek's Goldstorm deposit, which hosts the project's mineral resources. Phase one of the program will follow up on drill results from 2021 and 2022 at the CBS zone, where drill hole CBS-21-02 encountered 0.78 gram per tonne gold and 2.34 g/t silver over 155.0 metres, including 53.0 metres grading 1.24 g/t gold and 4.35 g/t silver. Initially 2,000 metres of drilling is planned for the CBS zone, with additional drilling dependent on success. The CBS zone is at a lower elevation than the other zones identified to date at Treaty Creek, and can be drilled both earlier and later in the exploration season than the other known zones.

Phase two of the Treaty Creek exploration program will focus on the Perfectstorm zone following up on geophysics completed in 2022. The program will also follow up on higher-grade drill hole intercepts intersected in the 2023 drill program, where drill hole PS-23-10 intersected 1.23 g/t gold and 3.43 g/t silver over 102.15 metres, including 42.5 metres grading 1.80 g/t gold and 5.76 g/t silver. Initially 8,000 metres of drilling is planned for the Perfectstorm zone, with additional drilling dependent on success.

Two drills are planned to mobilize to site by mid-May and continue drilling through late September/early October.

Qualified person

Ken Konkin, PGeo, Tudor's senior vice-president, exploration, is the qualified person, as defined by NI 43-101, responsible for the Treaty Creek project. Mr. Konkin has reviewed, verified, and approved the scientific and technical information in this news release.

Tudor and Seabridge land use conflict update

As background, KSM Mining ULC, a subsidiary of Seabridge, has filed a permit amendment application for the construction and operation of the MTT with the Major Mines Office (MMO) of British Columbia's Ministry of Mining and Critical Minerals. The approximately 22-kilometre-long MTT, as currently conceived by KSM, is only partially permitted to date. Seabridge and KSM seek to develop and route the MTT directly through Treaty Creek's Goldstorm deposit. The MTT would also pierce Treaty Creek's Perfectstorm zone, a promising new gold discovery which has potential to exceed the Goldstorm deposit in both tonnes and grade.

Tudor highlights that the decision maker reviewing the permit amendment application for the MMO advised, in a letter to Seabridge dated April 9, 2026, the decision was made not to proceed to deliberate on KSM's permit amendment application in the absence of greater legal certainty regarding the interaction between the proposed MTT and the overlapping mineral titles held by Tudor. Of note, the decision maker indicated that the certainty could potentially be provided by a negotiated agreement between KSM and Tudor to resolve the conflict or a court ruling.

In order to preserve Tudor's rights as recorded holder of the mineral claims where the Treaty Creek project is located, Tudor has filed two proceedings in the British Columbia courts:

• A notice of civil claim, filed Sept. 22, 2025, in the Supreme Court of British Columbia, against the province asserting, among other things, that a conditional registration reserve (or CRR) does not apply to Tudor's mineral claims and cannot grant rights to third parties that they did not otherwise have;
• A petition, filed Oct. 3, 2025, in the Supreme Court of British Columbia, seeking, among other things, a judicial review of the Ministry of Water, Land and Resource Stewardship's decision to grant Seabridge a licence of occupation covering certain of Tudor's claims.

Tudor had also previously filed an appeal of the decision of B.C.'s gold commissioner. This appeal was settled between Seabridge, Tudor, and the province and the crux of the complaint is addressed in the two proceedings noted above.

Tudor's preference is to negotiate with the province of British Columbia and Seabridge.

As of this writing, no court dates have been set for hearing these two actions.

About Treaty Creek project

Treaty Creek's Goldstorm deposit hosts indicated mineral resources of 24.9 million ounces of gold, 148.7 million ounces of silver and 3,048 million pounds of copper (912.3 million tonnes grading 0.85 g/t gold, 5.07 g/t silver and 0.15 per cent copper) and inferred mineral resources of 2.6 million ounces of gold, 7.2 million ounces of silver and 67.9 million pounds of copper (21.8 million tonnes grading 3.64 g/t gold, 10.22 g/t silver and 0.14 per cent copper). The Goldstorm deposit remains open in all directions, and a permit application has been filed for approval to construct an underground ramp for access to drill the high-grade gold SC-1 zone. A preliminary economic assessment on placing the Goldstorm deposit in production as an underground mine is now under way.

In addition to the Goldstorm deposit, Treaty Creek hosts other recent gold discoveries nearby: the CBS, Eureka and Perfectstorm zones. A 10,000-metre plus drill program is planned to commence in May targeting the further exploration of these zones.

About Tudor Gold Corp.

Tudor Gold is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913-hectare Treaty Creek project (in which Tudor Gold has an 80-per-cent interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corp.'s Brucejack mine property to the southeast.

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