TDG Gold Closes Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

WHITE ROCK, BC / ACCESSWIRE / June 14, 2024 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG") is pleased to announce that it has closed the third and final tranche of its non-brokered private placement as previously announced on February 22, April 04, April 11, May 03, May 06 and May 29, 2024 (the "Offering"), through the issuance of 1,385,714 non-flow-through units (the "NFT Units") at a purchase price of $0.14 per NFT Unit and 2,400,000 charity flow-through units (the "CharityFT Units") at a purchase price of $0.20 per Charity FT Unit for total aggregate gross proceeds of $674,000 (the "Final Tranche").

With the closing of the Final Tranche, the Company has now issued a total of 13,984,124 units for total aggregate gross proceeds of $2,243,200 (an oversubscription of $43,200 from the amount announced on May 29, 2024, of $2,200,000) as follows:

• 2,400,000 Charity FT Units at a price of $0.20 per Charity FT Unit for gross proceeds of $480,000;

• 7,071,125 FT Units at a price of $0.16 per FT Unit for gross proceeds of $1,131,380; and

• 4,512,999 NFT Units at a price of $0.14 per NFT Unit for gross proceeds of $631,820.

Each Charity FT Unit and each FT Unit consists of one flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Company for an exercise price of $0.20 per share for a period of 3 years. Each NFT Unit consists of one non-flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Company for an exercise price of $0.20 per share for a period of 3 years.

In connection with the Final Tranche, the Company paid cash finder's fees of $16,560 and issued 9,000 finder's warrants. In total, the Company paid cash finder's fees of $78,816 and issued 399,525 finder's warrants to certain arm's length finders. Each finder's warrant is exercisable to acquire one common share of the Company at a price of $0.14 per share for a period of 3 years.

All shares issued in connection with the Offering are subject to a four-month and one day hold period, in accordance with applicable securities laws and the TSX Venture Exchange (the "Exchange") policies. The Offering is subject to the final approval of the Exchange.

The Company intends to use the net proceeds of the Offering for continued exploration of the Company's mineral properties, and general working capital.

Insider Participation

As announced on April 11, 2024, Michael Kosowan and Fletcher Morgan, directors of the Company, participated in the first tranche of the Offering that closed on April 11, 2024, with Mr. Kosowan subscribing for 500,000 NFT Units, and Mr. Morgan subscribing for 143,000 NFT Units and 187,375 FT Units, which constitutes related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are individually or beneficially owned by Messrs. Kosowan and Morgan as a result of their participation in the Offering. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insiders in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101.

Caution to US Investors

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About TDG Gold Corp.

TDG is a major mineral 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. TDG's flagship projects are the former producing, high-grade gold-silver Shasta and Baker mines, which produced intermittently between 1981-2012, and the historical high-grade gold Mets developed prospect, all of which are road accessible, and combined have over 65,000 m of historical drilling. The projects have been advanced through compilation of historical 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 (news release May 01, 2023) which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (‘Greater Shasta-Newberry'; news release Jan 25, 2023). In Fall 2023, TDG published the first modern drill results from the Mets mining lease (news releases Sep 07, 2023, Sep 11, 2023 and Nov 28, 2023). In early 2024, TDG identified new copper-gold target areas over an expanded footprint covering ~53 sq.km known as the ‘Baker Complex' (news release Feb 28, 2024).

Qualified Person

The technical content of this new release has been reviewed and approved by Steven Kramar, P.Geo., Vice President, Exploration for TDG and a Qualified Person, as defined under National Instrument 43-101.

ON BEHALF OF THE BOARD

Fletcher Morgan
Chief Executive Officer

For furtherinformation contact:

TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: [email protected]

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. Forward looking statements in this press release include statements regarding the closing of the Offering and, the final acceptance of the TSX Venture Exchange and the planned use of proceeds of the Offering. 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 state of the equity financing markets in Canada and other jurisdictions; the receipt of regulatory approvals; fluctuations in metals prices, 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; and delays in obtaining governmental approvals or financing. 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.

View the original press release on accesswire.com