TDG Gold Corp. Intercepts 50.17 g/t Gold and 4871 g/t Silver 700 Metres South of Historical Workings at Shasta, Toodoggone District, B.C.

WHITE ROCK, February 7, 2022 - TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to report bonanza grade gold ("Au") and silver ("Ag") intercepted in the Cayley-Rainier Target Zone ("CR") (Figure 1) located approximately 700 metres ("m") south of the historical JM Pit at TDG's former producing Shasta project in the Toodoggone District, B.C.

Diamond drillhole SH21-022 intercepted:

50.17 grams per tonne ("g/t") Au and 4871 g/t Ag over 1.5 m

This assay result is included within a broader interval of 16.2 m grading 7.22 g/t and 817 g/t Ag [17.42 g/t AuEq*] starting at a downhole depth of 100.3 m. Other key intercepts in the 2021 drilling within the CR Target Zone are summarised in Table 1 and an oblique cross section is provided in Figure 2.

Assay results were received from SGS Labs Canada ("SGS"). Internal QA/QC review by TDG, working with Moose Mountain Technical Services ("MMTS"), is ongoing and therefore results are still considered preliminary.

Fletcher Morgan, TDG's CEO, commented: "The Cayley-Rainier Target Zone is located at the southern extremity of the known mineralization at TDG's Shasta project. Cayley-Rainier is one of multiple target zones at Shasta that were under-explored historically and is the only outlying zone that we drill tested in 2021. To hit bonanza grade gold and silver in our first drill campaign is a testament to the hard work of our Senior Geologist Steven Kramar and the team from Moose Mountain Technical Services. We're excited to resume drilling this coming field season and to explore for further extensions to the known mineralization at Shasta."

Image 1. Shasta drillhole SH21-022; mineralization encountered grading 50.17 g/t Au and 4871 g/t Ag over 1.5 m from 113.5 m to 115.0 m depth.

The drillholes encountering the high grade mineralization are within a package of volcanic dominantly crystal, subordinately ash tuffs, with increasing quartz/carbonate vein density approaching the high grade intercepts, where multi-generation vein density increases and complete hydrothermal brecciation occurs. Mineralization is quartz/carbonate veins and veinlets carrying visible sulphides of pyrite, and appreciable acanthite (silvery veins, centre of Image 1), bismuth and a bright, white-brassy mineral in irregular quartz veins, i.e. visible gold (centre of Image 1, adjacent to yellow asterisks on core, but difficult to see without magnification).

The CR Target Zone is approximately 700 m south of the historical JM Pit and 500 m south from closest small-scale underground historical workings in the JM Zone. The area between the mine workings and the Cayley-Rainier drill targets for 2021 was under-explored historically. TDG's current interpretation is that the JM controlling structure changes orientation into the CR Target Zone. Historical drilling attempting to 'close the gap' only assayed core that had potential for higher grades and, as a result, the area has remained relatively poorly understood. Historical drill holes intersected significant mineralization including 8.2 m of 4.72 g/t Au and 19 g/t Ag in hole SH10-05, including 1.0 m of 23.23 g/t Au and 53 g/t Ag. See Table 2 for a summary of historical drill results. Continuity across drillholes and over the CR Target Zone was never established.

TDG's 2021 drill program in the CR Target Zone consisted of 10 diamond drillholes all drilled within the Permitted Mine Area at Shasta which were designed to validate historical grades and test the potential to expand the high grade intercepts encountered historically. In addition to the bonanza grade gold and silver encountered in drillhole SH21-022, other 2021 drillholes encountered similar high grade mineralization as historical intercepts (see Table 2) and expanded the footprint from 10 m of potential strike (from hole SH10-04 to SH10-05) to 50 m of potential strike (from SH10-04 in the south to SH21-022 in the north). This initial drill test has identified a near-surface, sub-vertical west dipping potential extension of the JM Zone 500 m south of the furthest extent of the previous small-scale underground workings.

Figure 1. Plan view of the Cayley-Rainier Zone.

In 2021, TDG completed a high-resolution ground based magnetic survey at Shasta. Follow up work in 2022 is warranted and will include testing further south of the CR Target Zone along the same geophysical magnetic low signature that hosts much of the Shasta high grade mineralization. And also to strategically 'fill the gap' between the CR Target Zone and JM Zone with targeted infill holes, now knowing the orientation of the high grade 'pod' of gold-silver mineralization.

All 2021 drill holes were HQ sized drill cores. Particulars for drill holes (location, depth, etc.)are presented in Table 3.

Table 1. Significant Results from the 2021 Drilling in the Cayley-Rainier Target Zone.

Table 2. Significant Historical Results from the CR Target Zone.

Table 3. 2021 Drillhole Particulars.

Figure 2. Oblique Cross Section of CR Target Zone.

QA/QC

Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. The 2021 drill core was cut in half (1/2 HQ core) 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 ultimately to the SGS laboratory in Burnaby, B.C. Samples were prepared and analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).

Table 4. Au and Ag Analytical Methods.

Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC 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 QAQC sample are re-tested. For the purposes of this press release, results are 'preliminary' and thus have not undergone TDG's comprehensive QAQC investigations.

Qualified Person

The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.

This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.

About TDG Gold Corp.

TDG is a major mineral claim 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, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.

ON BEHALF OF THE BOARD

Fletcher Morgan
Chief Executive Officer

For further information contact:

TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com

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This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: TDG Gold Corp.