Vancouver, British Columbia--(Newsfile Corp. - September 23, 2022) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") announces that, further to the Company's news releases dated July 13, 2021, February 1, 2022, July 8, 2022, August 4, 2022, August 10, 2022 and August 30, 2022 (the "Initial News Releases"), the Company has entered into an amended and restated arrangement agreement dated September 23, 2022 (the "Amended Agreement") with Goldstorm Metals Corp. ("Goldstorm"), its wholly-owned subsidiary, in connection with the proposed spin-off of the Company's six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia (collectively, the "Crown Property") by way of plan of arrangement (the "Arrangement").

Further to the Initial News Releases and pursuant to the Amended Agreement, the Company has amended the terms of Goldstorm's non-brokered private placement (the "Goldstorm Private Placement"), to be completed in connection with the Arrangement, to consist of the issuance of units of Goldstorm (each, a "Goldstorm Unit") at a price of $0.26 per Goldstorm Unit. Each Goldstorm Unit will consist of one common share of Goldstorm (a "Goldstorm Share") and one common share purchase warrant (each, a "Goldstorm Warrant"). Each Goldstorm Warrant will be exercisable to purchase one Goldstorm Share at a price of $0.60 for a period of two years from the date of issuance. In connection with the Goldstorm Private Placement, Goldstorm may also pay finder's fees of up to 8% of the gross proceeds raised and may issue finder's warrants of up to 8% of the Goldstorm Units offered.

For more information on the Arrangement, please refer to the Initial News Releases.

About Tudor Gold

TUDOR GOLD Corp. is a precious and base metals exploration and development company with properties 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 Pretium Resources Inc.'s Brucejack property to the southeast. In April 2021 Tudor published their 43-101 technical report, "Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada" dated March 1, 2021 on the Company's Sedar profile. The Company also has a 100% interest in the Crown project and a 100% interest in the Eskay North project, all located in the Golden Triangle area.

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 or contact:

Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail:

or

Carsten Ringler
Head of Investor Relations and Communications
Phone: 0
E-Mail:

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 Company's intention to complete the Arrangement and Goldstorm's intention to complete the Goldstorm Private Placement as anticipated by management and the activities, events or developments that the Company expects or anticipates will or may occur in the future. 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 will complete the Arrangement or that Goldstorm will complete the Goldstorm Private Placement as anticipated by management. 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 the risk that the Company will not complete the Arrangement or Goldstorm will not complete the Goldstorm Private Placement as anticipated by management or at all, that the TSX Venture Exchange or the Supreme Court of British Columbia will not provide final approval to complete the Arrangement, 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.

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