TDG Gold Corp. (TSXV:TDG) (the 'Company' or 'TDG') is pleased to announce assay results from two more historical drill holes, both of which appear to support the concept that the Baker1 area of its Toodoggone properties may represent a bulk-tonnage, porphyry-style copper-gold target1 that was later overprinted by a high-grade epithermal gold-silver system.

Historical drill holes BK86-10 and BK87-04 were drilled in 1986 and 1987 respectively, targeting high-grade gold-silver ('Au-Ag') mineralization associated with the Baker B-Vein. As a result, both holes were only selectively sampled at the time, based on that target model.

TDG's relogging and resampling of the full length of these holes has not only confirmed the historical high-grade Au-Ag epithermal-style mineralization, extending this style of mineralization to depth, but has also identified porphyry-style copper-gold ('Cu-Au') veining, alteration and sulphide mineralization comprised of pyrite, chalcopyrite, molybdenite and minor bornite over more than 100 metres of core length starting from near surface and ending in mineralization in both historical drillholes1.

The broad length weighted average grade intercept for diamond drillhole BK86-10 comprises 0.1 % Cu, 1.07 grams per tonne ('g/t') Au and 4 g/t Ag over 100.26 m from 40.2 m down hole, including 0.2 % Cu and 2.7 g/t Au over 37.4 m from 84.5 m down hole.

Diamond drillhole BK87-04 tested the B-Vein from the northwest to southeast, opposite the dominant drill trend and intercepted the epithermal, Au-Ag overprint at 135.0 m down hole. It also encountered a previously unrecorded 132.4 m interval of Cu-Au porphyry-style mineralization from 14.6 m depth, ending in mineralization at 147.0 m down hole.

Steven Kramar, TDG's VP Exploration, commented: 'These latest assay results from hole BK86-10 indicate that Baker hosts broad, shallow, copper-gold mineralization that was not historically mined. We interpret the broad mineralized intercept in BK87-04 as showing the presence of previously unrecognized shallow copper-gold halo that extends the footprint of this exploration target and helps with our vectoring.'

TDG's 2023 Exploration Program at Baker

As reported in our July 25, 2023 news release, TDG is approaching Baker1 as a 'back to basics' project with potential to host a bulk tonnage porphyry-style copper-gold deposit that is most likely located deeper than historically drilled holes1. TDG has a relogging, resampling and assaying program underway that aims to use the new information to help identify vectors to potential porphyry targets for drill testing in 2024.

TDG has also completed an extensive and intensive stream sediment sampling program across the Baker footprint focused on the potential for a porphyry target. Results are anticipated by early September 2023.

TDG's historical core relogging, resampling and assaying program is low cost and aims to recover and resample as much as possible of the 30,000 m of diamond drilling known to have been completed in 342 drillholes across the 15 square kilometre ('sq.km') Baker project. The Baker historical core inventory is located at the Baker camp and mill site. So far, TDG has identified 91 complete/nearly complete drillholes for relogging, of which 41 are restacked and ready for logging, 10 have been fully relogged and 10 have been submitted for assaying and results have been received from 3 (reported herein and July 25, 2023).

During the historical drilling that took place between 1974-2006, only 15% of the drill core length is estimated to have been assayed for gold-silver5 and virtually none for any other elements, including copper5. TDG has noted the presence of porphyry-style veining and alteration and the occurrence of bornite (Cu5FeS4), chalcopyrite (CuFeS2) and molybdenite (MoS2) throughout the 10 drillholes logged so far. TDG has also noted a significant increase gold grades in resampled core from hole BK86-10 as compared to historical recorded results for the same hole. Comparable results for BK87-04 are within the historically reported range - see Results Comparison section below.

By systematically relogging the historical core, including drill holes where mining is known to have taken place, followed by resampling where appropriate, TDG is aiming to assemble the first comprehensive copper-focused drill database for Baker and to select drill-ready targets for 2024.

Alteration/Mineralization

BK87-04 and BK86-10 intersected porphyry style veining, alteration, and mineralization. Volcanic rocks were consistently propylitic and phyllic altered and demonstrated multi-generational stockwork style veining throughout, with pyrite, chalcopyrite, sphalerite and bornite, often associated with or within veins and their selvages and with potassic alteration and flooding. These drillholes support the structural break observed in BK87-16 where Au-Cu mineralization increases abruptly, with both drillholes ending in weak/moderate Au-Cu mineralization. Based on available relogging and geochemical data acquired to date, the thickness of the east-northeast striking, steeply dipping altered and mineralized zone appears to be a minimum of approximately 120 m and open at depth.

Re-assay of the historical intersection of the B-Vein confirmed the Au-Ag grades and widths historically reported. Both drillholes continued to support the concept that the Baker B-Vein is surrounded by a lower grade halo of Cu-Au mineralization and the Cu mineralization is likely a function of metal scavenging from a larger porphyry system at depth.

About TDG Gold Corp.

TDG is a major mineral and placer tenure 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 and Baker mines, which produced intermittently between 1981-2012, and the high-grade gold-silver Mets development project, all which are all road accessible, and have over 65,000 m of historical4,5 drilling. The projects have been advanced through compilation of historical4 data, new geological mapping, geochemical and geophysical surveys and, at Shasta, 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May 2023, TDG published an updated Mineral Resource Estimate for Shasta and which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (Greater Shasta-Newberry; see TDG news release January 25, 2023) with drill-ready targets where TDG aims to undertake follow-up exploration activities in 2023.

Contact:

Fletcher Morgan

Tel: +1.604.536.2711

Forward Looking Statements

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 'concept','represent', 'interpret', 'potential', 'aim', 'suggest', 'support', 'vector', 'significant', 'indicate', 'presence', 'identify', and variations of these words as well as other similar words or statements that certain events or conditions 'could', 'may', 'would' 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 and planned exploration activities; the potential for a discovery of a porphyry Cu +/- Au or other style of mineral deposit with economic grade; results from future exploration programs; that geological and/or geophysical anomalies remain open (in any direction); conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the company to complete the planned work programs; 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.

(C) 2023 Electronic News Publishing, source ENP Newswire