Announcement • Jun 02
Tdg Gold Corp Initiates Preliminary Economic Assessment for Shasta Gold-Silver Project
TDG Gold Corp. had initiated a Preliminary Economic Assessment for its 100%-owned Shasta Gold-Silver Project, located within the Greater Shasta-Newberry Project area in the Toodoggone District of north-central British Columbia. Ausenco Engineering Canada ULC had been appointed as lead consultant for the Preliminary Economic Assessment. The Company was targeting completion of the study in the Third Quarter 2026. This inaugural study would establish the first economic benchmark for Shasta by evaluating the existing mineral resource within a preliminary mine plan and processing flowsheet whilst leveraging the Company’s infrastructure framework and current permits. In addition to establishing a baseline case for Shasta, the Preliminary Economic Assessment would evaluate a broader development scenario that potentially incorporates material from the Mets Mining Lease mineralization as well as reprocessing of historical tailings from the Baker tailing storage facility. The study would also provide shareholders with an initial set of project metrics, including potential scale, capital intensity, operating cost profile, mine life, economic sensitivities and opportunities for future optimization. Management believed that TDG’s 100% owned Toodoggone assets were currently undervalued given the success of the 2025 Aurora West drilling campaign, the gold-rich porphyry discovery potential, the existing mineral resource at Shasta (coupled with its existing permits, proximity and access route to Aurora), and the Mets mining lease containing some of the highest grade, shallowest, thickest gold in the District with expansion potential. TDG remained well-capitalized with a near-term strategy focused on three core objectives: Demonstrating value within the existing portfolio of assets, with the proposed Shasta Preliminary Economic Assessment representing a key strategic objective; Systematically advancing all assets toward value-unlocking milestones, including technical studies, permitting-related work and exploration advancement; and Delivering outperformance through discovery, with the Company’s fully funded 2026 drilling campaign at Anyox expected to conclude by the end of June, with assay results anticipated thereafter. In parallel, TDG continued to evaluate the potential for additional Aurora-style gold-rich copper porphyry targets in the vicinity of Aurora West. TDG was also announcing a fully funded 2026 porphyry focused program consisting of baseline and targeting studies designed to advance exploration along the northwest structural corridor extending from TDG’s 100%-owned Aurora West project toward and including the Baker Complex. Shasta was a 100%-owned gold-silver project located in the Toodoggone District of north-central British Columbia. The Project was part of TDG’s Greater Shasta-Newberry Project area and was one of the Company’s principal assets in the district. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes P.Geo., was the Qualified Person for the Company’s Projects and had validated and approved the technical and scientific content of this news release. The Company adhered to CIM Best Practices Guidelines in conducting, documenting, and reporting the exploration activities on its projects. In the Toodoggone District, TDG held a 100% interest in approximately 50,000 hectares, including the past-producing Shasta and Baker mines and the high-grade Mets developed prospect. The Company had defined a gold-silver Mineral Resource Estimate at Shasta within the 5.5 sq. km Greater Shasta-Newberry target area, which remained open for expansion. TDG was also advancing copper-gold porphyry exploration at Aurora West, contiguous with the AuRORA discovery, and across TDG’s broader 53 sq.km Baker Complex. At Anyox, TDG held over 10,000 hectares, including the past-producing Hidden Creek copper mine, prospective for volcanogenic massive sulphide mineralization. All scientific and technical information relating to the TDG’s Shasta Project pertaining to the Shasta Mineral Resource Estimate contained in this MD&A was derived from the Technical Report dated February 21, 2025 (with an effective date of December 29, 2024) titled “2025 Updated Resource Estimate For The Shasta Deposit” prepared by Sue Bird, MSc., P.Eng. of Moose Mountain Technical Services. The information contained herein in respect of the Shasta Mineral Resource Estimate was subject to all of the assumptions, qualifications and procedures set out in the 2025 Technical Report and reference should be made to the full text of the 2025 Technical Report. The Company cautioned that a Preliminary Economic Assessment was preliminary in nature and may include inferred mineral resources that are considered too speculative geologically to have economic considerations applied that would enable them to be categorized as mineral reserves. There was no certainty that the results of the Preliminary Economic Assessment would be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
