Toogood Gold Signs Binding LOI to Acquire the Table Mountain Project, a District-Scale, Undrilled Low-Sulphidation Epithermal Gold- Silver System in Nevada
Toogood Gold Signs Binding LOI to Acquire
the Table Mountain Project, a District-Scale,
Undrilled Low-Sulphidation Epithermal Gold-
Silver System in Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Toogood Gold Corp. (TSXV: TGC)
(OTCQB: TGGCF) (FSE: D3P) ("
Toogood
" or the "
Company
") today announced that it has entered
into a binding Letter of Intent dated February 27, 2026 (the "LOI") with Orogen Royalties Inc. ("Orogen")
and Altius Minerals Corporation ("Altius", and together the "Vendors") to acquire the exclusive option to
earn a 100% interest in the Table Mountain Project, a greenfields, undrilled, district-scale, low-
sulphidation epithermal gold-silver project in Lincoln County, Nevada ("Table Mountain" or the "Project").
Key Point Summary
District-scale epithermal system:
4 km x 2 km alteration cell consistent with a high-level low-
sulphidation epithermal system, with multiple gold- and silver-bearing veins exposed at surface,
supporting the interpretation of a large, well-preserved system with multiple kilometre-scale drill
target corridors;
Strong surface gold and silver values:
First-pass rock sampling by Orogen in 2025 returned
up to 2.6 g/t Au and > 50 g/t Ag from epithermal veins, with strong pathfinder anomalism (Sb-As-
Hg) across the alteration cell;
Hallmark upper-level epithermal textures:
Outcropping veins exhibit classic low-sulphidation
epithermal textures (chalcedony with crustiform-colloform banding, quartz veins and breccias),
further substantiating the presence of well-preserved system;
Largely untested by systematic modern exploration:
No known historical drilling despite the
scale of alteration and multiple vein exposures;
Positioned in an established gold-producing camp:
10 km south of the past-producing
Atlanta Gold Mine, and the actively advancing Atlanta Gold Mine Project (Nevada King Gold
Corp.);
Clear permitting pathway on federal lands:
Land package comprises 184 Bureau of Land
Management ("BLM") lode claims; and
Pipeline of near-term catalysts:
Phase 1 exploration is expected to commence immediately
after the closing of the Definitive Agreement (LiDAR, mapping, systematic geochemistry and
geophysics) to deliver ranked drill targets and a permit-ready drill plan by Q3 2026.
Management Commentary
"Table Mountain represents a rare, discovery-stage opportunity in Nevada: a district-scale low-
sulphidation epithermal system that appears exceptionally well preserved at surface and has no
known historical drilling,"
stated Colin Smith, CEO of Toogood Gold Corp.
"The Project's vein
textures, coherent alteration footprint, and strong pathfinder geochemistry provide a clear technical
rationale to vector toward prospective boiling horizons and rapidly generate multiple priority drill
targets. Our Phase 1 program is planned to be systematic and milestone-driven, with the objective of
delivering a permit-ready maiden drill plan by Q3 2026. Table Mountain adds near-term drilling
upside while we continue to advance and refine targets at our Toogood Gold Project in Newfoundland.
We view Orogen and Altius' retained equity and NSR exposure as a meaningful alignment of interests
as we advance the Project."
Paddy Nicol, CEO of Orogen, commented
, "Table Mountain is one of the most compelling and
straightforward drill-target opportunities our project generation team has identified in recent years, with
multiple outcropping gold- and silver-bearing veins and no known historical drilling, trenching, or
meaningful prospecting. Interest in the Project was strong given its scale, preservation, and clear
surface expression. We are pleased to partner with Toogood, whose technical team and disciplined,
milestone-driven approach should rapidly advance the work, refine priority targets, and move the
Project toward maiden drill testing."
Table Mountain Project Overview
Table Mountain is a low-sulphidation epithermal gold-silver system in Lincoln County, Nevada, in the
northern part of the Oligocene-Miocene Indian Peak Caldera Complex (Figure 1). With no known
historical drilling and a coherent, multi-kilometre hydrothermal footprint, Table Mountain represents a
high-leverage discovery opportunity in one of the world's most attractive gold jurisdictions. The Project
comprises 184 BLM lode claims totaling 1,538 hectares.
Table Mountain lies approximately 10 kilometres south of the past-producing Atlanta Gold Mine, which
hosts a pit-constrained NI 43-101 Mineral Resource estimate (effective date September 6, 2024) of
27.71 Mt grading 1.14 g/t Au and 9.75 g/t Ag for 1.02 Moz Au and 8.69 Moz Ag in the Measured and
Indicated categories, plus 3.64 Mt grading 0.84 g/t Au and 2.56 g/t Ag for 0.10 Moz Au and 0.30 Moz Ag
in the Inferred category, based on a US$2,200/oz gold price assumption (see Nevada King news
release dated June 4, 2025). The Atlanta Gold Mine Project is a neighbouring property and
mineralization thereon is not necessarily indicative of mineralization on the Table Mountain Project.
The epithermal system is interpreted to have formed after the main caldera-forming volcanic events,
consistent with a structurally focused, late-stage hydrothermal system developed within favorable rhyolitic
host rocks.
Figure 1: Location of Table Mountain, showing producing and past-producing gold mines,
major gold deposits and the approximate location of the Cenozoic southern Great Basin
ignimbrite province in Nevada (ignimbrite province modified from Stewart and Carlson, 1976).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11439/285868_d8e8251db48a9aa9_002full.jpg
Exploration History and Dataset
The Project exhibits a notable absence of prior exploration activity, including legacy claim posts, drill
pads, trenches, or prospect pits, and there is no known historical drilling.
Work completed by Orogen in 2025 delineated a large, coherent alteration cell measuring approximately
4 km by 2 km, dominated by kaolinite with local illite and alunite-kaolinite assemblages concentrated
along fault-controlled corridors (Figure 2). The scale and intensity of alteration are consistent with high-
level exposure of a district-scale, intact low-sulphidation epithermal system.
Multiple outcropping vein sets display classic upper-level epithermal textures, including chalcedony with
crustiform-colloform banding, green and grey chalcedony, and white crystalline quartz veins and
extensive breccias (Figure 3). Silicified platy calcite textures occur locally within quartz and silica-flooded
breccias and, together with observed vertical textural variation, are consistent with a well-preserved
system developed above a prospective boiling horizon at relatively shallow depths.
In 2025, Orogen completed first-pass geological and structural mapping and reconnaissance
geochemistry, delineating multiple kilometer-scale target corridors across the alteration cell. Rock
sampling returned gold values up to approximately 2.6 g/t Au and silver values exceeding 50 g/t Ag from
banded quartz veins. Coherent epithermal pathfinder anomalism (Sb-As-Hg) across the broader
alteration footprint supports systematic target refinement and near-term drill planning.
Figure 2: Plan Map of Table Mountain Project, Nevada, showing SWIR and LWIR alteration
mineralogy, rock sample assays, structure, and lineaments.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11439/285868_d8e8251db48a9aa9_003full.jpg
Figure 3: Vein material from outcropping vein at Table Mountain displaying crustiform-
colloform banded chalcedony and fine-grained quartz textures with silicified bladed (platy)
calcite, consistent with an upper-level low-sulphidation epithermal environment.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11439/285868_d8e8251db48a9aa9_004full.jpg
Target Corridors
Structural mapping, geochemistry, and SWIR/LWIR spectral mineralogy (alteration assemblage
mapping) have delineated multiple kilometre-scale target corridors, including:
i
.
a NE-SW trending graben zone (>4 km collective strike length) with intense argillic alteration and a
locally interpreted steam-heated overprint;
ii
.
SE fault zone (>3 km) that may expose a deeper erosional level and be closer to the prospective
boiling horizon; and
iii
.
multiple kilometer-scale normal faults and structural lineaments interpreted from 2025 Orogen
mapping and historical USGS mapping (Willis et al., 1987).
All major structural corridors sampled to date have returned anomalous to multi-gram gold values in first-
pass rock sampling and represent priority structural targets for drill testing (Figure 2).
The scale and continuity of these structural corridors define multiple independent, district-scale drill
targets and support a robust, target-rich discovery pipeline for systematic drill testing.
Planned Exploration
Toogood will commence a Phase 1 surface exploration program subsequent to the closing of a
Definitive Agreement, designed to rapidly advance Table Mountain toward a maiden drill program. The
program is expected to include:
i
.
property-wide high-resolution LiDAR acquisition to support structural and geological
interpretations;
ii
.
detailed geological and structural mapping focused on vein architecture, physical volcanology,
alteration zonation, and vein textural zonation;
iii
.
property-wide systematic soil and rock geochemistry along NW-SE sample lines (100-metre line
spacing and 25-meter sample spacing; and
iv
.
geophysics across priority corridors, possibly including dipole-dipole induced polarization ("IP")
and resistivity, drone magnetics to refine the structural framework and basin geometry, and
controlled-source audio-frequency magnetotellurics ("CSAMT") to map deeper resistive features.
The Company expects the Phase 1 program to meaningfully refine drill targeting and inform budgeting in
advance of a maiden drill program, subject to permitting and customary regulatory approvals.
Transaction Summary
Pursuant to the LOI, Toogood has the right to earn a 100% interest in the Project through staged equity
payments to the Vendors as follows:
i
.
1,000,000 common shares issuable within three business days of the Effective Date;
ii
.
3,500,000 common shares on or before the date that is six months from the Effective Date;
iii
.
5,500,000 common shares on or before the first anniversary of the Effective Date; and
iv
.
6,683,430 common shares on or before the second anniversary of the Effective Date.
The staged equity payments are calculated as percentages of the Company's issued and outstanding
common shares as defined in the LOI. Toogood also paid a C$30,000 advance upon signing the LOI.
The "Effective Date" is defined by the closing date of the Definitive Agreement entered into pursuant to
the LOI.
The LOI also provides for a 3.0% net smelter return ("NSR") royalty on the Project, of which:
a
.
0.5% may be repurchased for US$5.0 million in cash at any time until the fourth anniversary of the
exercise of the Option (the "First Buydown Right");
b
.
an additional 0.5% may be repurchased for US$15.0 million in cash, with such additional buydown
right triggered upon delivery of a prefeasibility study ("PFS") or feasibility study ("FS") (the
"Second Buydown Right"); and
c
.
exercising the First Buydown Right is not required to exercise the Second Buydown Right.
The conditions precedent to closing the transaction, include TSX-V stock exchange approval, due
diligence and entering into a Definitive Agreement.
Marketing and Investor Awareness Engagements
The Company further reports that it has entered into a media agency agreement with Global One Media
Group Pte. Ltd. ("Global One") dated March 1, 2026, pursuant to which Global One will provide a
comprehensive digital marketing and media awareness campaign. The term of the agreement is for six
(6) months commencing March 1, 2026, for a total retainer of US$42,000, payable as follows:
US$21,000 for the initial three months payable upfront upon signing, with the remaining balance payable
on a monthly basis thereafter. Under the agreement, Global One will provide integrated digital marketing
and media services including social media management, content creation, video production, podcast
and interview hosting, social media distribution of news releases, influencer marketing campaigns,
participation in live panel discussions on InvestorTV, European and Asian investor interviews, paid
advertising management, and ongoing branding, content distribution and digital awareness services.
Global One Media Group Pte. Ltd. is a digital marketing and media production firm based in Singapore.
Global One and its Chief Executive Officer, Bastien Boulay, are arm's length to the Company and neither
Global One or any of its principals or affiliates hold no interest, directly or indirectly, in the securities of
the Company or any right to acquire such an interest Mr. Boulay can be reached at
.
Also effective March 1, 2026, the Company has entered into an agreement with
aktiencheck.de
AG
("aktiencheck"), pursuant to which aktiencheck will provide a European marketing awareness campaign.
The term of the agreement is for three (3) months for a total fee of €25,000, payable in advance. Under
the agreement, aktiencheck will provide services that will include, but not be limited to, PR strategies and
designing and implementing an advertisement-based investor campaign focused on the European
investment market.
aktiencheck.de
AG is a Germany-based investor relations and financial media firm
headquartered in Bad Marienberg, Germany, specializing in editorial coverage and digital marketing
distribution to European retail and institutional investors. aktiencheck and its Chief Executive Officer,
Stefan Lindam, are arm's length to the Company and neither aktiencheck or any of its principals or
affiliates hold no interest, directly or indirectly, in the securities of the Company or any right to acquire
such an interest. Mr. Lindam can be reached at
.
The Global One Media Group agreement and the aktiencheck agreement are subject to the approval of
the TSX Venture Exchange.
QA/QC and Analytical Methods
The Table Mountain assay results reported herein are derived from first-pass reconnaissance rock
samples that were selective or grab in nature and are not necessarily representative of overall grade or
true width. Samples were analyzed by ALS Geochemistry using Au-ICP21 (30-gram fire assay with ICP-
AES finish) and multi-element methods Hg-MS42 and ME-MS61, with sample preparation completed at
ALS Reno and analyses completed at ALS Vancouver. The Company is in the process of independently
verifying these results as practicable, and Orogen's initial reconnaissance sampling did not include the
insertion of certified reference materials, blanks, or field duplicates; accordingly, the results should be
considered preliminary. The Company will implement industry-standard QA/QC protocols in future
programs.
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.
The scientific and technical information disclosed herein, including historical exploration results, has
been reviewed and approved by a Qualified Person; while certain historical data has not been
independently verified by the Company, it is considered relevant and reliable for the purposes of this
disclosure.
About Toogood Gold Corp.
Toogood Gold Corp. is a Canadian exploration company focused on the discovery and advancement of
high-grade gold systems in tier-one mining jurisdictions. The Company has two core areas of focus: the
Table Mountain Project in Nevada, a large, undrilled low-sulphidation epithermal system with extensive
surface alteration and multiple mineralized vein exposures; and the 100%-owned, district-scale Toogood
Gold Project (164 km²) in Newfoundland, a highly prospective and underexplored gold district with
multiple target areas and demonstrated gold prospectivity.
On Behalf of the Board of Directors
Colin Smith
Director & CEO
Toogood Gold Corp.
For further information contact:
Colin Smith, Director & CEO
+1 778 726-3356
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 statements or information are subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or results to differ from those reflected in
the forward-looking statements or information, including, without limitation, the need for additional capital
by the Company through financings, and the risk that such funds may not be raised; the speculative
nature of exploration and the stages of the Company's properties; the effect of changes in commodity
prices; regulatory risks that development of the Company's material properties will not be acceptable for
social, environmental or other reasons; availability of equipment (including drills) and personnel to carry
out work programs; and that each stage of work will be completed within expected time frames. This list
is not exhaustive of the factors that may affect any of the Company's forward-looking statements or
information. Although the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not to be as anticipated,
estimated, described or intended. Accordingly, readers should not place undue reliance on forward-
looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs,
expectations and opinions of management as of the date of this news release, and other than as
required by applicable securities laws, the
Company
does
not
assume
any
obligation
to
update
forward-
looking
statements
and
information
if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting such statements or
information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/285868