Tudor Gold Continues to Significantly Expand the Goldstorm Deposit to the Northeast as Step-Out Hole GS-23-170

Since the beginning of this year's Program, the Company has successfully completed over 21,000 meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The five drill holes reported in this release are located in the northeastern area of the Goldstorm Deposit. Click to view plan map and cross sections.

Ken Konkin, President and CEO, comments: "We are very pleased to confirm the continued expansion of the Goldstorm Deposit to the northeast. Results from our northeastern-most step-out drilling from section 120+50 NE will certainly expand the volume of the deposit with AuEQ values well above the 0.7 gpt AuEQ underground resource estimate cut-off grade used for our deposit. In addition, very large blocks within the previously estimated drill inferred category have been successfully intersected with very positive gold, copper and silver grades, which we believe will convert these blocks of mineralization into the drill Indicated category. Our goal is to increase the size of the resource without diminishing the grade. This will be a critical component to the Preliminary Economic Assessment (PEA) that we plan to complete once we have totally defined the Goldstorm Deposit. We have completed five additional drill holes on the Goldstorm Deposit and three drill holes at the Perfectstorm target, which are currently in the lab. Results will be announced once they are received and compiled. Crews have begun construction of drill pads required to pursue the northern aspects of the CS-600, 300H and DS5 domains for the 2024 drill program; these are beyond the scope and the time available to drill within our planned 2023 program. Defining the shape and extent of each domain is necessary prior to determining a mine plan, which is essential for the PEA level and beyond."

SECTION 117+50NE

• GS-23-166-W1: This hole targeted the northern aspects of the CS-600 and DS5 Domains of the Goldstorm Deposit. The hole first intersected the northern aspect of the CS-600 Domain in an area that was classified as Inferred in the April 2023 Mineral Resource Estimate (MRE). The hole then successfully intersected DS5 Domain mineralization at approximately 115 m outside and to the northwest of the previous DS5 Domain boundary. Highlights include 153 m grading 1.29 g/t AuEQ (0.75 g/t Au, 14.02 g/t Ag, 0.33 % Cu) with a 1.8 m intercept of 5.18 g/t AuEQ (1.37 g/t Au, 374.0 g/t Ag, 0.09 % Cu). Several mineralized zones were encountered throughout the DS5 Domain, including 45.0 m grading 1.09 g/t AuEQ (1.02 g/t Au, 5.14 g/t Ag, 0.02 % Cu).

• GS-23-168-W1: This hole targeted the deep, northwest portion of the CS-600 Domain. The hole intersected an area classified as Inferred in the previous MRE. Prior to entering the CS-600, a mineralized section of 75.0 m of 1.34 g/t AuEQ (1.27 g/t Au, 5.89 g/t Ag, 0.01 % Cu) was cut, and this is interpreted to be the 300H Domain. A long intercept of CS-600 included 296.0 m of 1.11 g/t AuEQ (0.65 g/t Au, 5.03 g/t Ag, 0.35 % Cu) with an enriched intercept of 102.0 m grading 1.30 g/t AuEQ (0.64 g/t Au, 7.39 g/t Ag, 0.50 % Cu).

• GS-23-166: This hole was not sampled and shutdown early due to excessive drill hole deviation. The hole was wedged and drilled as GS-23-166-W1.

SECTION 120+50NE

• GS-23-169: This hole was drilled outside of the resource area, and at a distance of 160 m northeast of the previous boundary, CS-600 was encountered, with a 190.5 m interval of 0.79 g/t AuEQ (0.38 g/t Au, 5.58 g/t Ag, 0.30 % Cu) and an enriched section of 66.0 m grading 1.44 g/t AuEQ (0.79 g/t Au, 8.45 g/t Ag, 0.47 % Cu). At depth, the DS5 Domain was intersected at a step-out distance of 300 m to the north from the previously defined resource area. An intercept of 133.5 m grading 0.97 g/t AuEQ (0.89 g/t Au, 5.55 g/t Ag, 0.02 % Cu) was reported.

• GS-23-170: This hole was designed to expand the northern extent of the CS-600 Domain. An intercept of 516.0 m grading 1.19 g/t AuEQ (0.89 g/t Au, 2.86 g/t Ag, 0.23 % Cu) was encountered. This intercept represents a wider than expected interval of mineralization within the northern aspect of the CS-600 Domain. An enriched section measured 90.0 m grading 2.07 g/t AuEQ (1.93 g/t Au, 3.55 g/t Ag, 0.09 % Cu).

Table 1: Drilling Results for Goldstorm Deposit in Press Release August 15, 2023

• All assay values are uncut and intervals reflect drilled intercept lengths.
• HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
• The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
• True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Table 2: Drill data for holes in Press Release August 15, 2023

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral Domains and several smaller mineral Domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

¹ AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)

About Tudor Gold

Tudor Gold Corp. 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 a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Limited's Brucejack property to the southeast.

ON BEHALF OF THE BOARD OF DIRECTORS OF
Tudor Gold Corp.

"Ken Konkin"

Ken Konkin
President and Chief Executive Officer

For further information, please visit the Company's website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com

or

Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@tudor-gold.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.

Cautionary Statements regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Treaty Creek Section Areas - Plan View

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Goldstorm Deposit - Section 117+50 NE Viewing Northeast

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Goldstorm Deposit - Section 120+50 NE Viewing Northeast

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