Toogood Gold drills high-grade gold at Toogood Gold Project, Newfoundland

Toogood Gold Corp. [TSXV: TGC] reported preliminary drill core assays from its fully funded, fully permitted 2,000-metre diamond drilling program at the 100%-owned Toogood Gold Project located on New World Island, Newfoundland.

Key Point Summary: Mineralized host felsic dyke at the Quinlan Zone has been intercepted in 100% of holes drilled to date, with multiple near-surface, high-grade drilling intercepts including 29.31 metres at 2.20 g/t Au from 35.00 metres, including 0.99 metres at 11.42 g/t Au from 57.01 metres; 3.35 m at 14.48 g/t Au from 77.25 m, including 0.65 m at 72.53 g/t Au from 77.25 metres.

Visible gold (VG) has been identified in 10 of 30 Quinlan drill holes logged to date in 2025, with detailed lithological logging ongoing. High-resolution ground-penetrating radar (GPR) survey suggests possible untested geological continuity of Quinlan to north-northeast (NNE), with processing ongoing.

“The 2025 drill program at Toogood has been a resounding success, with every hole at Quinlan intercepting the mineralized felsic dyke and those with assays returning multiple near-surface, high-grade gold intervals,” stated Colin Smith, CEO. “These results confirm strong continuity along strike and at depth, with new geophysics pointing to expansion potential well beyond the current 350-metre drill-tested extent. With assays pending from more than half of the program, we are just beginning to realize the scale of this discovery opportunity.”

The 2025 drill campaign at Toogood was designed to systematically test for expansions and continuity of Quinlan while advancing district-scale targeting across the broader land package.

To date, assays have been received for holes 25TG001 to 014, with results pending for holes 25TG015 to 033. Visible gold (VG has been identified in 10 of the 30 holes drilled at Quinlan in 2025, with detailed core logging on-going.

The 2025 drill program was completed safely, on budget, and on schedule. A total of 2,000 metres were drilled in 33 diamond drill holes, distributed as follows:

Quinlan: Step-outs and delineation drilling confirmed mineralization along 350 metres of strike and 100 metre vertical depth, with multiple holes delivering near-surface, high-grade gold intercepts.

Regional Targets: Initial drilling at the Mélange Contact targeted a never-before-tested, 18 km-long district-scale lithological boundary, logging ongoing.

Geophysics Integration: Results from a high-resolution GPR survey suggest untested strike potential extending to the NNE of prior drilling at Quinlan (processing ongoing).

Initial Highlights Drill Holes – 25TG014: 29.31 metres at 2.20 g/t Au from 35.00 metres, including 0.99 metres at 11.42 g/t Au from 57.01 metres.

Includes an additional shallower interval of mineralized felsic dyke (possible splay), returning 5.33 metres at 1.32 g/t Au from 22.04 metres.

25TG014 was designed to test for continuity along strike to the south-southwest (SSW) of prior drilling, and successfully returned broad, high-grade gold mineralization.

Mineralization remains fully open along strike to the SSW, and represents a high priority drilling trend for future programs.

Hole 25TG014 was followed up at depth by drill holes 25TG015 (same pad), 25TG030 (down-dip pad) and 25-TG-031 (down-dip pad) – all assays pending.

25TG010: 3.35 metres at 14.48 g/t Au from 77.25 metres, including 0.65 metres at 72.53 g/t Au from 77.25 metres.

Confirms the presence of exceptionally high-grade shoots within the mineralized felsic dyke. Hole 25TG010 was designed to test for down-dip continuity to the east-southeast (ESE) of prior drilling, and successfully returned a high-grade intercept at depth.

No Quinlan drill holes exist to the ESE of 25TG010, and further step-outs down-dip represents a compelling drill target for future programs.

Hole 25TG013: 5.78 metres at 3.33 g/t Au from 10.51, including 1.49 metres at 10.55 g/t Au from 10.51 metres.

Hole 25TG013 was designed to test for continuity along strike to the south-southwest (SSW) of prior drilling, and successfully demonstrated strong near-surface continuity of high-grade mineralization, approximately 30 metres up-dip from 25TG014.

Mineralization remains fully open along strike to the SSW and represents a high priority drilling trend for future programs.

Quinlan represents a robust example of structurally hosted dyke-related gold mineralization within the Exploits Subzone. Together with analogous felsic dykes mapped elsewhere on the property, Quinlan provides a compelling focal point for ongoing exploration and discovery across the Toogood Gold Project.

The company has entered into a financial advisory agreement dated September 22, 2025 for Canaccord Genuity Corp. to provide financial advisory services in consideration for an advisory fee satisfied by the issuance of 1,000,000 common shares, subject to TSXV approval.  The shares will be subject to a two-year escrow agreement.

Toogood Gold is focused on the discovery and development of high-grade gold deposits in Newfoundland. The company’s flagship asset, the district scale (118 km²) 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.