TDG Gold Corp. Announces Thirty Year Extension to the Mets Mining Lease and Receives Mets Drill Permit, Toodoggone District

WHITE ROCK, October 19, 2022 - TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce a 30-year extension of its 100% owned Metsantan ("Mets") mining lease located in the road-connected Toodoggone Production Corridor of north-central B.C. (Figure 1). TDG has also received a Notice of Work ("NOW") authorizing diamond drilling and further exploration activities.

Mets is a 200-hectare mining lease which includes a former producing gold-silver mine discovered and systematically explored between 1980-1992 including a reported 8,784 metres ("m") of diamond drilling (of which TDG has recompiled 7,944 m) and 2,622 m of trenching. Historical reported drill highlights include 9.52 grams per tonne ("g/t") gold ("Au") and 2 g/t silver ("Ag") over 25.9 m from a depth of 22.0 m including 59.13 g/t Au and 2 g/t Ag over 3.1 m from a depth of 28.8 m.

Figure 1. Access to TDG's Metsantan (METS) mining lease and neighbouring properties is via the road through TDG's Baker Camp from Kemess.

The Mets mining lease has been extended for 30 years to 2053 with support of the local communities. TDG would like to thank First Nations for their consultation and support during the application for the extension, and also the teams Falkirk Environmental Consultants and the BC Ministry of Energy, Mining and Low Carbon Innovation ("EMLI") for their input and management of the application process.

Mets is located 23 kilometres ("km") northwest of TDG's former producing gold-silver Shasta and Baker mines. Mets is road accessible by the forestry road which runs from Centerra's Kemess mine past TDG's Shasta project and directly through TDG's Baker mine before continuing through Benchmark Metals' Lawyers project and the recently announced "Ranch Extension" being undertaken by Thesis Gold which includes a bridge crossing of the Toodoggone River (Figure 1). Mets was owned by Skeena Resources Ltd. in 2009 and underwent ~350 m of underground development work in 2012 including stockpiling of development rock and ore that historical records indicate was never shipped for processing but was backfilled and reclaimed.

TDG's independent resource modelling group for the Mets project is Moose Mountain Technical Services ("MMTS") led by Sue Bird, P.Eng. MMTS has completed recompilation and remodelling of the historical data and information. Drill targets at Mets have been identified to enable calculation and publication of a potential NI 43-101 Mineral Resource Estimate for Mets with an estimated requirement of 1,000-2,000 m of diamond drilling. Table 1 presents select composite results across the Mets Project, with labelled locations of drill collars of select composites displayed in Figure 2.

In 2021, TDG undertook mapping work and a minor sampling program of surface rocks around historical drill collars. In 2022, TDG made a site visit with the independent resource modeller to verify locations of historical drill collars (Figure 2); and TDG contracted John Geoscience LTD. to perform an Unmanned Aerial Vehicle ("UAV") drone survey to create a Digital Terrain Model ("DTM") and orthophotography to support potential resource modelling.

Table 1. Select Significant Results from the METS Project Area.

*Gold equivalent (AuEq) is calculated as: AuEq = Au + Ag*0.0125 Calculations are uncut and no allowances have been made to accommodate potential recovery losses that would occur in a mining scenario. Composite results were built using a 0.1 g/t AuEq cut-off, although there are intervals within the composites below 0.1g/t AuEq.
** Intervals are core-length weighted. True width and recovery are unknown.
***Calculated composites are truncated to significant 2 digits for Au/AuEq and the nearest whole number for Ag.
****In cases where assay data was missing from historical records, concentrations were assigned a 0.00 value.

Figure 2. Metsantan (Mets) Historical Drilling & Drill Plan for Potential Mineral Resource Estimate.

All historical drillholes were BQ/NQ sized drill core, with particulars for historical drillholes presented in the composite table above (location, depth, etc.) summarized in Table 2.

Table 2. Drillhole Particulars

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.

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

This news release includes historical information that has been reviewed by the Company's geological team and qualified person. 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. There is insufficient exploration on these prospects to define a mineral resource. It is uncertain if after additional exploration a mineral resource will be delineated. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results.

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. In May 2022, TDG published an initial NI 43-101 Mineral Resource Estimate for Shasta. For the 2022 field season, TDG is prioritizing drilling the known mineralization around Shasta. TDG currently has 96,343,142 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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.