Tudor Gold Corp (TSXV:TUD) – All Known Questions Answered, February 2026

Tutor Gold Corp. – Treaty Creek Project Presentation Summary

Key Concepts:

• Treaty Creek Project: A large gold deposit located in the Golden Triangle of British Columbia, Canada.
• Gold Storm Deposit: The primary deposit within Treaty Creek, hosting a significant gold, copper, and silver resource.
• NSR Cutoff: A valuation method used in resource estimation, representing the Net Smelter Return required for a block to be included in the resource calculation.
• Preliminary Economic Assessment (PA): An initial study to determine the economic viability of a mining project.
• Underground Mining vs. Bulk Tonnage Mining: Two distinct mining approaches with varying capital expenditure, production rates, and timelines.
• Golden Triangle: A highly prospective mineral region in northwestern British Columbia and southeastern Alaska.

1. Project Overview & Resource Estimate

Tutor Gold Corp. is focused on advancing its Treaty Creek project, which hosts one of the largest gold discoveries in the last 30 years. The project currently boasts a combined 24.9 million ounces of indicated gold (at 0.85 g/t) and 4 million ounces of inferred gold (at 1.43 g/t), alongside significant copper (over 3 billion pounds) and silver (almost 200 million ounces). A key differentiator is the presence of higher-grade mineralization within the deposit, ranging from 2 to 4 g/t, which Tutor Gold believes will accelerate the path to production. The company owns an 80% interest in the project, with Tutin Resources holding the remaining 20%. British Columbia provides a supportive regulatory environment for mining.

2. Location & Infrastructure

The Treaty Creek project is situated in the Golden Triangle of northwestern British Columbia, approximately 70 kilometers north of Stewart, BC, a deep-water port with concentrate shipping facilities. The project is accessible via approximately 250 kilometers of road. Crucially, the project benefits from excellent infrastructure compared to other Golden Triangle sites: it’s only 40 kilometers from a paved highway and 40 kilometers from the Northwest Transmission Line, providing access to power. This contrasts with the Bruce Jack Mine, which required a 75km road (including 12km over a glacier) and a 57km transmission line supported by helicopter. This superior infrastructure is expected to significantly reduce capital and operating costs. Tutor Gold views Treaty Creek as a “gateway” to the broader Gold-Copper District, as access to Seabridge Gold’s KSM project requires traversing the Treaty Creek claim package.

3. Resource Segmentation & Cutoff Analysis

The recent resource update simplified the deposit into three zones: Upper (red), Central (coppery), and Lower (goldy yellow). The Central Zone is primarily gold-copper, while the Upper and Lower Zones are predominantly gold. The initial resource estimate utilized a $50 NSR (Net Smelter Return) cutoff. However, Tutor Gold is now focusing on higher-grade material to expedite production. Analysis using $125/ton and $175/ton cutoffs reveals:

• $125 Cutoff: 8.4 million ounces of gold (combined indicated and inferred) at approximately 2.5 g/t.
• $175 Cutoff: 5.8 million ounces of gold (combined indicated and inferred) at an average grade of 2.8-2.5 g/t.

The company aims to define a starter mine based on material exceeding 3 g/t, potentially producing 250,000-300,000 ounces of gold per year.

4. Mining Strategy & Underground Exploration

Tutor Gold is prioritizing an underground mining approach to access the higher-grade mineralization and mitigate the challenges of the Golden Triangle’s harsh weather conditions (e.g., 22 meters of snowfall). The company is currently permitting an underground exploration ramp to facilitate tighter drilling and detailed geological modeling. This will allow for year-round drilling, improving resource definition and reducing exploration costs. The ramp will target the Upper, Central, and Lower Zones. A potential future scenario involves developing an even higher-grade underground mine targeting the SC1 zone (6-900 meters below surface) after initial infrastructure is established.

5. Metallurgical Testing & Preliminary Economic Assessment (PA)

Metallurgical testing is underway on samples from the Upper, Central, and Lower Zones, with a target completion date of late March 2024. This data will be integrated with the mine plan to support a Preliminary Economic Assessment (PA), targeted for completion by summer 2024. The PA will focus on the 8-10,000 ton per day underground mining scenario, with an estimated capital expenditure of $1 - $1.5 billion.

6. Long-Term Potential & Exploration Strategy

While focused on the Gold Storm deposit, Tutor Gold recognizes the potential for further discoveries on its property. A $15 million exploration budget is allocated for summer 2024 to investigate the CBS, Eureka, and Perfect Storm zones, with an initial target of defining a 5 million ounce gold resource with “blue sky” potential for expansion. The company is also exploring the possibility of acquiring the remaining 20% interest in the project from Tutin Resources, believing a 100% ownership stake would unlock greater value.

7. Company Structure & Support

Tutor Gold’s management team has a proven track record of project development, having previously worked together at Silver Standard and PR Resources. The company has approximately 400 million shares outstanding, with Eric Sprott holding a 14% stake. The project is covered by analysts at Roth Capital and Research Capital. British Columbia’s government is actively promoting mining as a key component of the province’s future economic development, and local First Nations are supportive of responsible mining projects that benefit their communities.

Notable Quote:

“We consider our Treaty Creek project the gateway to the Gold Copper District in the Golden Triangle…I think personally hold the key to making economic…coming up with economic production in the area.” – Joe Osenik, President & CEO, Tutor Gold Corp.

Conclusion:

Tutor Gold Corp. is strategically positioned to advance the Treaty Creek project, leveraging its substantial gold resource, favorable infrastructure, and focus on high-grade mineralization. The company’s plan to prioritize an underground mining approach and pursue a PA in the near term demonstrates a clear path towards potential production. The additional exploration potential on the property further enhances the long-term value proposition for investors.