Tudor Gold Corp. Announces Three New Property Acquisitions in the Golden Triangle Area British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 24, 2016) -

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

Tudor Gold Corp. (the "Corporation") (TSX VENTURE:TUD) is pleased to announce it has entered into agreements for the right to acquire a 100% interest in three properties, located in the Golden Triangle area, in the Skeena Mining Division. The properties are commonly known as the Fairweather property, the Delta property, and the High North property. The Corporation has been granted the right to acquire the 100% interest in the properties from Tudor Holdings Ltd. (a non-arm's length party), pursuant to the terms of assignment and assumption agreements. The assignment and assumption agreements are related party transactions. The proposed acquisitions are subject to TSX Venture Exchange (the "Exchange") approval.

Fairweather Property

The Corporation has been assigned, subject to Exchange approval, the right to acquire a 100% interest in the property by paying Tudor Holdings Ltd. the sum of $37,662, which represents Tudor Holdings Ltd.'s costs paid to date in respect of the property. Additional option payments totaling $320,000 over a five year period, and the issuance of up to 700,000 shares in the capital of the Corporation over a five year period, with an initial issuance of 250,000 shares upon the Corporation receiving Exchange approval, are required to be assumed and paid by the Corporation to acquire a 100% interest in the property. The property is subject to a 2% NSR royalty.

The Fairweather property comprises 6 claim blocks located approximately 55km north of Stewart, British Columbia and is considered prospective for transitional epithermal gold-silver mineralization similar to those being developed 10 kilometers to the north at the Brucejack property. The initial target area is a quartz brecciated conglomerate zone discovered in 1987 that returned 4.04 grams gold per tonne over 7 meters in a trench. A subsequent small work program did not extend the mineralization due to deep overburden. Further trenching and shallow drilling have been recommended but not yet carried out.