TDG Announces Positive Results from Ongoing Metallurgical Test Work - Conventional Processing Achieves >90%
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TDG Gold Corp.
1400 – Guinness Tower
1055 West Hastings Street
Vancouver, BC, V63 2E9
TDG Announces Positive Results from Ongoing Metallurgical Test Work -
Conventional Processing Achieves >90%
Gold and Silver Recoveries At Shasta, Toodoggone District
Vancouver, British Columbia – June 17, 2026 – TDG Gold Corp. (“TDG” or the
“Company”) (TSXV: TDG | OTCQX: TDGGF) is pleased to provide an update on the ongoing
metallurgical test work being completed by Base Met Labs, managed by Ausenco
Engineering Canada ULC (“Ausenco”). Test work to date has demonstrated the amenability
of the Shasta deposit, METS prospect and Baker t ailings mineralization to a simple,
conventional gravity and flotation process that produces gold-silver sulphide concentrates.
This test work is a key component to support the previously announced Preliminary
Economic Assessment (“PEA”) on its 100% -owned Shasta Gold-Silver Project (“Shasta” or
the “Project”), located within the Greater Shasta -Newberry Project area in the Toodoggone
District of north-central British Columbia. Ausenco has been appointed as lead consultant
for the PEA.
2026 Metallurgical Test Work Highlights:
• Average recoveries of 92.4% gold and 90.3% silver achieved using conventional
gravity and open circuit flotation methods.
• Up to 25% of gold recovered through gravity concentration prior to flotation, reducing
downstream processing requirements and potentially improving payabilities.
• Over 91% recovery of both gold and silver demonstrated in locked-cycle testing.
• Simple gravity + flotation-based flowsheet selected as the preferred processing route
following trade-off analysis.
• Coarse grind size of 80% passing 150 µm (“P80”) supports potential lower operating
costs and favourable tailings dewatering and placement characteristics.
• Consistent results across the deposits and low impurities in the concentrates further
de-risks future development studies.
• Significant silver contribution (~38%) in the recovered metal value in the tested
Shasta composites.
"Shasta’s metallurgical performance compares favourably with many advanced -stage
epithermal gold-silver projects in British Columbia, achieving greater than 90% recoveries
for both gold and silver through a conventional flotation process while maintaining a very low
concentrate mass pull, ” commented Fletcher Morgan, TDG’s CEO. “The concentrate
generated from locked-cycle testing contained 45.4% sulphur at a mass pull of only 1.4%,
(Table 1), demonstrating highly selective recovery of sulphide-hosted gold an d silver
mineralization. Furthermore, silver contributes approximately 35 –40% of the recovered
metal value in the tested Shasta composites, highlighting the project's meaningful silver
exposure alongside the gold production. "
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TDG Gold Corp.
1400 – Guinness Tower
1055 West Hastings Street
Vancouver, BC, V63 2E9
Table 1: Metallurgical Balance – Locked Cycle Test (MC1).
Product Mass %
Assay Distribution %
Au g/t Ag g/t S % Au Ag S
Gravity Concentrate* 0.2 104 2500 49.0 33.5 15.6 16.6
Flotation Concentrate 1.2 35.6 2400 44.7 57.9 75.4 76.3
Combined Concentrate 1.4 47.0 2417 45.4 91.4 91.0 92.9
Cleaner Tailings 4.0 0.23 18 0.37 1.3 1.9 2.2
Rougher Tailings 94.9 0.06 2.8 0.04 7.3 7.1 4.9
Feed 100 0.72 37 0.68 100 100 100
*Gravity concentrate was assayed to extinction for gold. Silver and sulphur values are estimated from other tests and head
grade reconciliation.
Low Impurity Mineralization
Multi-element ICP and whole rock analyses were completed on the samples that informed
the test work. Samples have demonstrated low copper concentrations, generally less than
100 ppm, except for the Baker TSF (Tails -2 sample), which returned 286 ppm. Arseni c
concentrations were below 12 ppm for all samples except the METS and Tails -2 samples
which measured 18 and 20 ppm, respectively. No other elements of interest or concern were
measured at significant levels.
Shasta Metallurgical Evaluation – 2026 Program
A total of 13 samples of continuous ½ drill core intervals were selected from 12 Shasta drill
holes from the 2021 and 2022 drilling programs. The samples represent material that is
within the mineral resource that is potentially amenable to open pit mining, covering a range
of spatial locations.
The recent metallurgical testing evaluated flotation recovery as a function of primary grind
size, regrinding and cleaner circuit requirements, as well as variability response to a
proposed flowsheet. The bulk of the development testing was conducted on Master
Composites MC1 and MC2, and a locked cycle test was conducted on MC1.
The flowsheet included a primary grind size target of 150µm P 80, gravity concentration
followed by conventional flotation, moderate dosages of PAX as a collector, natural pulp pH,
and regrinding of the rougher concentrate to approximately 25µm P80 followed by 3 stages of
cleaning. Rougher flotation performance was acceptable at coarser primary grind sizes,
however a trade -off study confirmed that additional ball mill grinding requirements were
justified for the incremental gains in precious metal recovery.
The proposed flowsheet was applied to the variability samples as gravity plus open circuit
cleaner flotation tests.
The open circuit results from the variability samples and three master composites averaged
92.4% gold recovery and 90.3% silver recovery. On average, 25% of the gold and 12% of the
silver were recovered to the gravity concentrate. There did not appear to b e a clear trend of
gold or silver recovery to feed grade. There was a slight positive relationship of silver recovery
to sulphur content in the feed, but not for gold.
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Most of the open circuit cleaner tests required only two stages of cleaning to achieve the
final concentrate grade. Concentrate quality clearly trended with ratios of gold and silver
to sulphur contents in the feed (g/t to %) . Rougher flotation concentrates were reground
to achieve an average cleaner circuit feed sizing of 25µm P80.
Potential Concentrate Quality
The average concentrate grade of the open circuit data set was 47 g/t gold, 2,005 g/t silver
and 41.8% sulphur. On average, 91.1% of the sulphur was recovered to the combined final
concentrates. Impurity concentrations were not measured on the concentrates and are in
progress on the MC1 locked cycle concentrate. Based on the sulphur concentration ratios
and arsenic feed grades, the highest arsenic content in the variability concentrates would be
~0.07%, which is well below levels that would typically incur penalties.
Baker TSF Samples
Eight auger samples were utilized that provide spatial coverage across the historical Baker
tailings impoundment, material that is being considered for reprocessing in potential future
operations. Two composites were assembled, representing high and low sulphur zones
within the impoundment.
Gravity plus rougher flotation tests were conducted on the two historical tailings samples,
following a small amount of laboratory rod mill grinding as the materials were somewhat
coarser than the target flotation feed size. After initial tests which indic ated compromised
sulphur kinetics, the tests were repeated with higher PAX dosages of 50 g/t. On average, 68%
of the gold and 61% of the silver were recovered to combined gravity plus rougher flotation
concentrates. Based on cleaner flotation performance of the Shasta samples, the recoveries
to final concentrates could decrease to approximately 66% and 59% following cleaner
circuit upgrading. Additional testing is planned.
High Grade METS Prospect Demonstrates Positive Recoveries
Assay reject samples from three drill holes in the METS mining lease A -Zone were provided
and formed into a single composite. A preliminary metallurgical test was conducted on the
METS sample, which recovered 83.8% of the gold and 71.8% of the silver to a combined
gravity plus rougher flotation concentrate. Only 13.6% of the feed gold was recovered by
gravity, however the Mozley table gravity concentrate was quite high grade, measuring 1,106
g/t gold. Additional testing is in progress on these materials with the objective of optimizing
recoveries.
Comminution Testing Results
Comminution testing was conducted on eight of the Shasta variability samples, which
indicated that the material was of medium hardness with respect to impact breakage in a
SAG mill and very hard with respect to ball mill grinding. The materials are moderately
abrasive as indicated by the Bond abrasion index value.
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TDG Gold Corp.
1400 – Guinness Tower
1055 West Hastings Street
Vancouver, BC, V63 2E9
Qualified Persons
Peter Mehrfert, P .Eng., of Ausenco Engineering Canada ULC, is a Qualified Person as defined
by National Instrument 43 -101 Standards of Disclosure for Mineral Projects and has
reviewed and approved the metallurgical and processing information contained in this news
release. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral
Projects, Paul Geddes, P .Geo., is the Qualified Person for the Company’s projects and has
reviewed the technical and scientific content of this news release.
Cautionary Note Regarding Metallurgical Results
Metallurgical test results reported herein are preliminary in nature, are based on laboratory-
scale testing of selected samples and composite materials and may not be representative
of all mineralization within the Shasta, METS or Baker projects. Metallurg ical performance
may vary materially from test results due to geological variability, mining methods, dilution,
processing conditions, operational factors and other considerations. There can be no
assurance that similar recoveries, concentrate grades, conc entrate characteristics or
processing performance will be achieved under commercial operating conditions.
Cautionary Note Regarding Preliminary Economic Assessments
The Company cautions that a Preliminary Economic Assessment is preliminary in nature and
may include inferred mineral resources that are considered too speculative geologically to
have economic considerations applied that would enable them to be categorized as mineral
reserves. There is no certainty that the results of the PEA will be realized. Mineral resources
that are not mineral reserves do not have demonstrated economic viability.
About the Shasta-METS-Baker Tailings Gold-Silver Project
Shasta is a 100% -owned gold -silver project located in the Toodoggone District of north -
central British Columbia. The Project is part of TDG’s Greater Shasta-Newberry Project area
and is one of the Company’s principal assets in the district. METS is a 200 hectare mining
lease classified as developed prospect located ~23km northwest of Baker, while the tailings
at Baker are from operations undertaken prior to TDG’s involvement in the area.
About TDG Gold Corp.
TDG Gold Corp. is a mineral exploration and development company focused on advancing
its gold, silver and copper projects in British Columbia, Canada. The Company's projects
include the former producing Baker and Shasta mines, the Shasta gold-silver deposi t, the
Aurora West gold-copper target area, the METS prospect and the Anyox copper project.
The Company's strategy is to create shareholder value through disciplined exploration,
technical evaluation, resource growth and systematic advancement of its mineral projects.
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TDG Gold Corp.
1400 – Guinness Tower
1055 West Hastings Street
Vancouver, BC, V63 2E9
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.
Telephone: +1.604.536.2711
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.
Forward-Looking Information and Statements
This news release contains forward -looking information and forward -looking statements (collectively, "forward -looking
statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements relate to future
events or futur e performance and reflect management's current expectations, estimates, projections, assumptions and
beliefs as of the date of this news release.
Forward-looking statements are often identified by words such as "anticipate" , "continue" , "could" , "estimate" , "expect" ,
"future" , "may" , "objective" , "plan" , "potential" , "proposed" , "strategy" , "target" , "will" , "would" , "advance" , "develop" , "evaluate",
"consider" , "support" , “simple” , “demonstrated” , “amenability” , “conventional” , variants of these words and similar
expressions, including the negative forms thereof.
Forward-looking statements in this news release include, without limitation, statements regarding: the completion, timing,
assumptions and results of the Preliminary Economic Assessment ("PEA") for the Shasta Gold-Silver Project; the potential
economic viability of the Shasta Project, the METS deposit and the Baker tailings storage facility material; the interpretation
and significance of metallurgical test results; what recoveries will be assumed in the planned PEA; the potential to produce
a marketable co ncentrate and the treatment and refining charges, and payabilities thereon ; anticipated metallurgical
recoveries and concentrate characteristics; the selection and performance of potential processing flowsheets; the timing
and results of future metallurgical, engineering and economic studies; whether gravity will reduce downstream processing
requirements and improve payabilities; whether coarser grinding will lower operating costs and improve tailings dewatering
and placement; future exploration, developmen t and permitting activities; and the Company's plans, objectives and
strategies for its projects.
Forward-looking statements are based on a number of assumptions, including but not limited to: the accuracy and
representativeness of metallurgical testing results and their suitability for use in the planned PEA ; the continuity and
characteristics of mineralization; the ability to complete planned studies and programs; the availability of financing,
personnel and equipment; the receipt of required approvals and permits; reasonable commodity price assumptions; and
general economic and operating conditions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include,
without limitation: the risk that metallurgical test results may not be representative of future production performance; the
risk that future testing may produce different results; uncertainty regarding the recoverability of gold, silver and other
metals; risks associated with mineral resource estimation; the risk that economic studies, including the planned PEA, may
not demonstrate economic viability; changes in project parameters as plans continue to be refined; fluctuations in
commodity prices and operating costs; environmental, permitting, regulatory and social risks; risks associated with
obtaining financing; and the other risks disclosed in the Company's public disclosure documents available under its profile
on SEDAR+.
The metallurgical test work described herein was conducted on selected samples and composite materials and may not
be representative of all mineralization within the Company's projects. Metallurgical performance may vary materially from
test results due to geological variability, operating conditions, mine planning considerations and other factors.
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TDG Gold Corp.
1400 – Guinness Tower
1055 West Hastings Street
Vancouver, BC, V63 2E9
Although the Company believes the assumptions and expectations reflected in the forward -looking statements are
reasonable, there can be no assurance that such statements will prove to be accurate. Readers should not place undue
reliance on forward-looking statements. Actual results may differ materially from those anticipated in such statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes
no obligation to update such statements except as required by applicable securities laws.