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TDG Gold Corp. Provides An Update on The Aquisition of The Advanced-Stage "Nueva Esperanza" Silver-Gold Project in The Maricunga Belt, Chile

Tuesday, November 2, 2021 7:00 AM
TDG Gold Corp.

WHITE ROCK, BC / ACCESSWIRE / November 2, 2021 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG") advises that TDG and Kingsgate Consolidated Limited ("Kingsgate") have agreed to amend the agreement (the "Agreement") between the Company and Kingsgate for the acquisition of the advanced-stage "Nueva Esperanza" silver-gold project, located in the Maricunga Belt of the Atacama Region of Northern Chile (the "Acquisition"), as announced on October 13, 2021.

Kingsgate and the Company have agreed to an extension of the date that the Company has to receive confirmed orders for the Offering (defined below) from October 31, 2021, to January 31, 2022, the Company will pay Kingsgate a non-refundable deposit of $1,500,000, of which $500,000 will be paid by November 5, 2021, with the balance due by November 30, 2021. In addition, the Company has agreed to reimburse Kingsgate for holding costs incurred for the Nueva Esperanza silver-gold project as a result of the extension of time under the Agreement from October 31, 2021, to up to January 31, 2022, at an estimated cost of US$500,000.

As previously announced in connection with the Acquisition, the Company intends to raise proceeds of at least $35,000,000 through a brokered private placement of subscription receipts (the "Subscription Receipts") at a price of $0.50 per Subscription Receipt (the "Offering"). The Acquisition is subject to TSX Venture Exchange review and approval, as well as other conditions precedent, including the completion of the Offering.

About TDG Gold Corp.

TDG is a major holder of mineral claims and mining leases in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981 and 2012, and have over 65,000 metres of historical drilling. In 2021, TDG proposes to advance the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 70,867,903 common shares issued and outstanding.


Fletcher Morgan
Chief Executive Officer

For further information contact:

TDG Gold Corp.,
Email: [email protected]

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.

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "ambition", "estimate", "concluded", "offers", "objective", "may", "will", "should", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of the proposed acquisition of the Nueva Esperanza project, the completion of concurrent equity financing, and the potential development of the Nueva Esperanza project and the Company's existing mineral properties, including the completion of feasibility studies or the making of production decisions in respect thereof. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the completion of other conditions precedent to the Acquisition, including the receipt of regulatory approvals, the state of equity financing markets, and results of future exploration activities by the Company.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: TDG Gold Corp.

Mergers and Acquisitions
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