U.S. Markets closed

Tudor Gold Announces Increase of Non-Brokered Private Placement for Proceeds of Up to $2.3 Million

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that due to significant investor interest, it will increase the size of its non-brokered private placement (the "Offering") of flow-through units of the Company ("FT Units") and non-flow-through units of the Company ("Non-FT Units"), originally announced in the Company's press release dated May 28, 2019, by a further $300,000 of FT Units, such that aggregate gross proceeds of the Offering will be up to $2,300,000.

The Company will now issue up to 5,625,000 FT Units at a purchase price of $0.32 per FT Unit, for gross proceeds of up to $1,800,000, and up to 1,666,667 Non-FT Units under the Offering, at a purchase price of $0.30 per Non-FT Unit for gross proceeds of up to $500,000. The Offering, which remains subject to the approval of the TSX Venture Exchange, is anticipated to close on or about June 6, 2019 (the "Closing Date"). For further details on the FT Units and the Non-FT Units, please see the Company's press release dated May 28, 2019.

All securities to be issued pursuant to the Offering will be subject to a four month hold period commencing on the Closing Date, in accordance with applicable Canadian securities laws, in addition to any other restrictions applicable under the policies of the Exchange or securities laws of jurisdictions outside Canada where the FT Units and Non-FT Units are sold.

The Company may pay finder's fee to arm's length finders for the sale of the FT Units and Non-FT Units. The Offering is subject to all necessary regulatory approvals, including the approval of the Exchange.

About Tudor Gold

Tudor Gold is a precious and base metals explorer with properties in British Columbia's Golden Triangle, an area that hosts 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. The Company also has a 60% interest in the Electrum project, and 100% interests in other prospective projects located in the Golden Triangle area.

"Walter Storm"
Walter Storm

President and Chief Executive Officer

For further information, please visit the Company's website at www.tudor-gold.com or contact:

Catalin Kilofliski
Director Corporate Development and Communications
Tel. 604-559-8092
Email: catalin@tudor-gold.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

All statements including, without limitation, statements relating to the ability to complete the Offering on the proposed terms or at all, anticipated use of proceeds from the Offering and receipt of regulatory approvals with respect to the proposed Offering as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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 risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. 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.

(Not for distribution to United States newswire services or for dissemination in the United States)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45338