Toogood Gold Corp. Outlines 2025 Exploration Program, Toogood Gold Project, Newfoundland
Toogood Gold Corp. Outlines 2025 Exploration
Program, Toogood Gold Project,
Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2025) -
Toogood Gold Corp. (TSXV: TGC)
("
Toogood
" or the "
Company
") today outlined its 2025 exploration program at the Company's 100%-
owned Toogood Gold Project (the "Project") located on New World Island, Newfoundland.
The Toogood Gold Project is anchored on Newfoundland's prolific Exploits Subzone, a renowned
structure corridor which hosts several of Newfoundland's major gold discoveries, including Equinox
Gold's Valentine Gold Mine (
1
Proven & Probable Mineral Reserves of 2.7 Moz @ 1.62 g/t Au, and
Measured & Indicated Resources of 3.96 Moz @ 1.90 g/t Au), which is due for its first gold pour in Q3,
2025.
The Project hosts exceptional exploration upside and discovery potential across a district-scale 11,800-
hectare (118 km²) land package. In its first and only drill program to date (2022) a high-grade, at-surface
gold discovery was made (the "Quinlan discovery", see Prospector Metals Corp. news release dated
August 22, 2022). Quinlan remains open in all directions and will be the focus of the Company's 2025
drilling campaign.
Supported by excellent infrastructure, including highway access, power, water, proximity to tidewater,
and strong community support, the Toogood Gold Project offers a rare opportunity for significant
discoveries along a largely untested prospective structural belt in a tier-one mining jurisdiction.
2025 Exploration Program Outline
2000-meter ("m") diamond drilling program, to commence in Q3 targeting extensions of the high-
grade, near-surface Quinlan discovery (2022), which produced visible gold-bearing intercepts in
15 of 19 drill holes, including:
23.90 g/t Au over 3.65 m from 4.75 m, incl. 43.22 g/t Au over 1.95 m
18.27 g/t Au over 4.25 m from 41.25 m, incl. 70.31 g/t Au over 1.05 m
9.40 g/t Au over 3.18 m from 9.40 m, incl. 22.76 g/t Au over 1.10 m;
Specialized deep high-resolution Ground Penetrating Radar ("GPR") survey, covering the high-
grade Quinlan discovery zone, as well as possible strike extensions to the northeast and
southwest:
To commence August 5, 2025, and conclude August 7, 2025;
Two phases ("Phase 1" and "Phase 2") of property-wide geological mapping, prospecting, and
rock sampling:
Phase 1 completed May 7 to June 3 (243 rock samples were collected and submitted for
assay)
Phase 2 to commence in Q3, 2025;
Regional soil sampling grid in the underexplored Northeast Block ("NE Block"), which has seen
very little historical exploration, and no drilling:
Commenced in Phase 1: 244 soil samples were collected at 299 sites;
Further information on each component of the 2025 exploration program will be detailed in future
news releases.
"The 2025 exploration campaign, which commenced in early May, marks a significant step forward in
advancing our underexplored, district-scale, high-grade gold Project,"
stated Colin Smith, CEO of
Toogood Gold Corp.
"Quinlan's inaugural drill program in 2022 demonstrated exceptional high-grade
results, intersecting visible gold in 15 of 19 holes, and the 2025 drill program will investigate regional
continuity of the gold-bearing felsic dyke with aggressive step-outs along strike and down dip. Our
integrated campaign of drilling, high-resolution GPR, and systematic regional mapping, prospecting
and geochemical sampling is designed to define the structural and geological controls responsible for
gold mineralization, ultimately accelerating the path to discovery of additional high-grade gold
systems across the land package."
Figure 1: Gold occurrences of the Toogood Gold Project, Newfoundland.
Note: historical assay values have not been independently verified by the Company and a potential investor should not place undue reliance on
historical results when making an investment decision, nor should they be used as the sole criterion for making investment decisions. There is no
assurance that the Company can reproduce such results or that the historical results described therein will be realized.
2 "Best surface samples"
are grab / select samples and not necessarily
representative of mineralization hosted on the property.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11439/259107_391b73cf141af9cd_002full.jpg
QA/QC and Analytical Procedures
The Company will implement a quality assurance and quality control ("QA/QC") program to ensure
sampling and analysis of all exploration work is conducted in accordance with the National Instrument
43-101 and industry best practices.
All 2025 samples assayed and pertaining to this press release were completed by Eastern Analytical
Limited (ISO 17025:2005) located at Springdale, Newfoundland by fire assay with an AA finish method
and 34 element ICP.
Qualified Person
Colin Smith, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and
approved the technical information contained in this news release. Mr. Smith is not independent and
serves as CEO and Director of Toogood Gold Corp. and owns securities of the Company.
About Toogood Gold Corp.
Toogood Gold Corp. is a Canadian exploration company focused on the discovery and development of
high-grade gold deposits in Newfoundland. The Company's flagship asset, the district-scale (118 km
2
)
Toogood Gold Project, is located on New World Island within the highly prospective Exploits Subzone, a
structurally complex and underexplored district known for significant recent gold discoveries. The
Project's inaugural drill program in 2022 yielded a high-grade, at-surface gold discovery, intercepting
visible gold in 15 of 19 core holes, with mineralization remaining open in all directions. The Toogood
Gold Project is accessible via paved highway and hosts extensive development infrastructure including
electrical lines, water and proximity to tidewater. For more information, visit the Company website:
https://www.toogoodgoldcorp.com/
.
On Behalf of the Board of Directors
Colin Smith
Director & CEO
Toogood Gold Corp.
For further information contact:
Colin Smith, Director & CEO
Additional information about Toogood Gold Corp. can be found at
www.sedarplus.ca
.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain acts, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking information in this press release may include, without limitation, statements relating to:
the completion of the Transaction, the proposed business of the Resulting Issuer, the completion of the
Concurrent Financing, satisfying terms of the Option Agreement and acquiring a 100% interest in the
Toogood Gold Project, the exploration plans and strategy of the Resulting Issuer, the proposed directors
and officers of the Resulting Issuer , the completion of the Name Change, the estimated capitalization of
the Resulting Issuer, TSXV sponsorship requirements and the application for exemption therefrom,
shareholder and regulatory approvals, the filing of a filing statement on SEDAR+, the resumption of
trading of Resulting Issuer Shares and future press releases and disclosure.
These statements are based upon assumptions that are subject to significant risks and uncertainties,
including transaction and financing risks, mineral exploration risks, and volatility in financial markets and
economic conditions and commodities prices. Because of these risks and uncertainties and as a result
of a variety of factors, the actual results, expectations, achievements or performance of each of Smithe
and TGC may differ materially from those anticipated and indicated by these forward-looking
statements. Any number of factors could cause actual results to differ materially from these forward-
looking statements as well as future results. Although each of Smithe and TGC believes that the
expectations reflected in forward looking statements are reasonable, they can give no assurances that
the expectations of any forward-looking statements will prove to be correct. Except as required by law,
each of Smithe and TGC disclaims any intention and assume no obligation to update or revise any
forward-looking statements to reflect actual results.
1
https://www.equinoxgold.com/growth-projects/valentine/
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/259107