Tiger Gold Completes First Option Payment to Acquire Multi-Million-Ounce Quinchía Gold Project and Becomes Operator

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2025) - Tiger Gold Corp. ("Tiger Gold" or the "Company") is pleased to announce that it has completed the first option payment under its option agreement with LCL Resources Limited ("LCL") to acquire the Quinchía Gold Project and the Andes Gold Project, located in Colombia's prolific Mid-Cauca Gold Belt, and Tiger Gold has been appointed Operator following the satisfaction of all conditions and the completion of such first option payment.

"This is an important step towards completing what we expect will be a transformational acquisition for Tiger. The Quinchía and Andes gold projects provide a rare combination of near-term development potential, district-scale opportunity, and significant exploration upside within a proven gold belt," said Tiger Gold President and Chief Executive Officer Robert Vallis. "With regulatory approvals secured, the first option payment made, operatorship now in our hands, and all conditions precedent to exercising the option satisfied, our team is now updating mineral resources and intends to commence a Preliminary Economic Assessment (PEA) imminently based upon updated mineral resources. This will provide an initial evaluation of the project's current status, valuation, and economic potential while informing our next steps on our path towards a production decision."

Highlights

• Tiger Gold Appointed Operator: With all approvals in place and the first option payment completed, Tiger is now the operator of the Quinchía and Andes Projects.

• Large Historical Gold Resource: Historical estimates total more than 2 million ounces of gold across the Miraflores, Tesorito, and Dosquebradas deposits.^[1]

• Established Mining District: Located in Colombia's Mid-Cauca Belt, a prolific gold and copper producing region.^[2]

• Permitted for Underground Development: Miraflores has an Approved Environmental License ^[3] and Mining Technical Work Program (PTO)^[4]

• Substantial Open Pit Potential: All deposits mineralized to surface and remain open at depth, providing significant exploration upside potential and supporting flexible production scenarios.

• District-Scale Growth Potential: Multiple satellite drill-ready exploration targets and new gold-copper discoveries.

• Strong Community Support: 2022 Colombian Gold Symposium's ESG Award winner^[5]

• Exceptional Value Opportunity: Option to acquire Quinchía and Andes gold projects from LCL for AUD $14 million (~CAD $12.6 million) through staged payments under a low-risk option structure.

• Updated Mineral Resources and PEA Underway: Historical data verification activities underway to be followed by updated mineral resources to form the basis for a PEA.

This milestone marks the formal commencement of Tiger Gold as operator, positioning the Company to immediately advance development and exploration activities across its high-potential district-scale gold projects. Tiger Gold's operating control follows overwhelming support from LCL shareholders voting 93% in favour of the Transaction at their Annual General Meeting on June 9, 2025 and Tiger making the first $1 million AUD cash Option payment. The Company is moving swiftly to update mineral resources and complete a Preliminary Economic Assessment (PEA). Tiger Gold also intends to initiate exploration programs, and advance all other technical areas of the project including permitting and stakeholder engagement.

Details regarding the historical mineral resources and reserves estimates are specified below in the section titled "Historical Mineral Resource and Reserve Disclosure".

The total consideration payable under the Agreement is $14 million Australian dollars (AUD) ($12.6 million Canadian dollars (CAD)), which includes $7.5 million Australian dollars ($6.75 million CAD) in staged cash payments, following which title transfers, and a $6.5 million AUD ($5.85 million CAD) contingent production milestone payment, plus a 1% net smelter returns royalty ("NSR") inclusive of a buyback option.

Key Terms:

• AUD $1 million (CAD $0.9 million) (Paid), (the "Operator Date");

• AUD $2 million (CAD $1.8 million) payable eight months following the Operator Date;

• AUD $4.5 million (CAD $4.0 million) payable twelve months following the Operator Date;

• AUD $6.5 million (CAD $5.85 million ) due at first gold pour; and

• a 1% NSR on future gold production from the Quinchía Project.

Historical Mineral Resource and Reserve Disclosure

While these estimates were reportedly prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC Code") (2012) and/or CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines ("CIM Guidelines") in effect at the time, consistency with current standards is not assured. The Company considers these historical estimates to be relevant as they indicate the potential presence and scale of mineralization on the Quinchía Gold Project.

The Company intends to undertake work programs to verify the historical data, assumptions, parameters, and modelling techniques used in the Miraflores, Tesorito, and Dosquebradas historical estimates, which are summarized below. Planned work programs for all three deposits described herein include sampling of historical core to confirm grades, database validation and verification to ensure data integrity, check surveys to verify drill hole locations, and updated resource modeling to align with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and CIM Guidelines.

Miraflores Deposit - Historical Estimate

Source and Date: The historical Mineral Resource estimate for the Miraflores Deposit was prepared by Metal Mining Consultants and reported by Metminco Limited on March 14, 2017, in accordance with the JORC Code (2012). A subsequent feasibility study containing a historical mineral reserve estimate was prepared by Ausenco Chile Ltda for Metminco Limited and Miraflores Compañía Minera SAS, with an effective date of November 27, 2017.

Miraflores Historical Estimate Details:

• Proven & Probable: 4.32 million tonnes @ 3.29 g/t Au and 2.77 g/t Ag (containing 457,000 oz Au and 385,000 oz Ag)

• Measured & Indicated: 9.27 million tonnes @ 2.82 g/t Au and 2.77 g/t Ag (containing 840,000 oz Au and 826,000 oz Ag)

• Inferred: 0.49 million tonnes @ 2.36 g/t Au and 3.64 g/t Ag (containing 37,000 oz Au and 57,000 oz Ag)

Key Assumptions, Parameters, Methods: Resource based upon 73 diamond drill holes (25,884 m) and 236 m of underground channel samples using an underground cut-off grade of 1.2 g/t Au. Reserve based upon a gold price of US$1,200/oz, silver price of US$18/oz, 31% dilution, and 92% gold recovery, utilizing a cut-off grade of 1.53 g/t Au. Stope optimization used Vulcan software and final underground design. Mineral Resources were reported inclusive of Mineral Reserves. A QP has not done sufficient work to classify these historical estimates as current mineral resources or reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves. The resource remains open at depth and laterally along a northwest-southeast corridor

Tesorito Deposit - Historical Estimate

Source and Date: The historical Mineral Resource estimate for the Tesorito Deposit was prepared by Snowden Optiro (Datamine Australia Pty. Ltd) with an effective date of March 22, 2022, prepared in accordance with the JORC Code (2012), and reported by Los Cerros Limited.

Tesorito Historical Estimate Details: Inferred: 50.0 million tonnes @ 0.81 g/t Au (containing 1,298,000 oz Au) using a 0.5 g/t Au cut-off. An additional estimate at 0.25 g/t cut-off: 134.3 million tonnes @ 0.53 g/t Au for 2.29 Moz Au was also reported. A QP has not done sufficient work to classify these historical estimates as current mineral resources or reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves.

Key Assumptions, Parameters, Methods: Based upon 58 historical diamond drillholes (22,620 m). Pit optimization assumed US$1,800/oz gold price and other economic constraints. The resource remains open at depth, southeast, and laterally.

Dosquebradas Deposit - Historical Estimate

Source and Date: The historical Mineral Resource estimate for the Dosquebradas Deposit was prepared by Resource Development Associates Inc. (RDA) with an effective date of February 25, 2020, prepared in accordance with the JORC Code (2012), and reported by Los Cerros Limited.

Dosquebradas Historical Estimate Details: Inferred: 20.2 million tonnes @ 0.71 g/t Au (containing 459,000 oz Au) using a 0.5 g/t Au cut-off. A Qualified Person (QP) has not done sufficient work to classify these historical estimates as current mineral resources or reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves.

Key Assumptions, Parameters, Methods: Based upon 19 historical diamond drillholes (8,824 m) with 25 m section spacing, defining mineralization over a 400 m x 300 m area from surface to ~550 m depth. Hosted in diorite porphyry and intrusive breccias. The resource remains open at depth and laterally.

Qualified Person

Robert Vallis, P. Eng, MBA, a Qualified Person as defined by NI 43-101, has reviewed and approved the pertinent scientific and technical information in this news release. Mr. Vallis is the President, Chief Executive Officer and a director of the Company and is not independent of the Company.

About Tiger Gold

Tiger Gold Corp. is a growth-oriented mining exploration and development company focused on advancing high-potential precious metals assets in the Americas. The company is led by a multidisciplinary team of experienced professionals in geology, mining engineering, and corporate finance, with backgrounds at globally recognized mining companies including AngloGold Ashanti Limited, Barrick Gold Corporation, Yamana Gold Inc., Alamos Gold Inc., and B2Gold Corp. President and CEO, Robert Vallis, brings a strong record of strategic leadership and execution in the mining sector, including his role in the US$9.5 billion acquisition and integration of Placer Dome Inc. by Barrick, as well as the US$3.9 billion joint acquisition of Osisko Mining by Yamana and Agnico Eagle Mines Limited.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain forward-looking statements and forward-looking information as defined under applicable Canadian and U.S. securities laws. Statements contained in this news release that are not historical facts are forward-looking statements that involve known and unknown risks and uncertainties. Any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. In certain cases, forward-looking statements and information can be identified using forward-looking terminology such as "may", "will", "would", "could", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "potential" or similar terminology. Forward-looking statements and information are made as of the date of this news release, and include, but are not limited to, the ability of the Company to complete on its option to purchase shares of the companies owning the projects, including future payments due under the option agreement, the type and potential scale of production at the Quinchía gold project, the results of the Ausenco study, the proposed location of the mill at the Quinchía Gold Project, the plans and goals of the Company, the timing, cost, and completion of any: i) updated Mineral Resource estimates; ii) Preliminary Economic Assessments; iii) future exploration plans at Miraflores, Tesorito, Dosquebradas, Chuscal, or Ceibal; iv) Pre-Feasibility or Feasibility Studies; vi) ESG programs and environmental monitoring, vii) verification of historical exploration results and historical mineral resource or mineral reserve estimates; and viii) the Company listing on a stock exchange and the timing and terms thereof, and the anticipated terms and use of proceeds from the Company's future financings. These forward-looking statements represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance, which are based on information currently available to management, management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. Such forward-looking statements involve numerous risks and uncertainties, and actual results may vary.

Important risks and other factors that may cause actual results to vary include, without limitation, risks related to the ability of the Company to accomplish its plans and objectives with respect to the acquisition and development of its projects within the expected timing or at all, the timing and receipt of certain required approvals, changes in commodity prices, risks inherent in exploration estimates and results, risks inherent in exploration and development activities, changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment or third party contractors, delays in the receipt of government approvals, industrial disturbances, job action, and unanticipated events related to health, safety and environmental matters), changes in governmental regulation of mining operations, political risk, social unrest, changes in general economic conditions or conditions in the financial markets, risks related to the Company's ability to complete the future financing on the terms anticipated, or at all, that the Company may be unable to list on a stock exchange and other risks related to the ability of the Company to proceed with its plans for its project. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral demand and prices; (2) any necessary approvals and consents in connection with the development of its projects will be obtained; (3) financing for the development, construction and continued operation of its projects will continue to be available on terms suitable to the Company; (4) sustained commodity prices will continue to make its projects economically viable; (5) there will not be any unfavourable changes to the economic, political, permitting and legal climate in which the Company operates; (6) the Company will complete future financing on the terms and timeline currently anticipated by management; and (7) the Company will advance its current plans and goal on the timelines and in manner currently contemplated by management. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause the actual results or performance by the Company to differ materially from those expressed in or implied by any forward-looking statements. Accordingly, no assurances 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 impact they will have on the results of operations or the financial condition of the Company. Investors should therefore not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Cautionary Note Regarding Historical Mineral Resource and Reserve Disclosure

The Company cautions that the historical mineral resource and mineral reserve estimates discussed herein are considered historical in nature. A Qualified Person ("QP") as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") has not done sufficient work to classify these historical estimates as current mineral resources or mineral reserves. Consequently, the Company is not treating these historical estimates as current mineral resources or mineral reserves, and they should not be relied upon as such. While the historical estimates described herein were reported to have been prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC Code") (2012) and/or CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines ("CIM Guidelines") in effect at the time of their preparation, there is no guarantee that they would be consistent with current standards and definitions. The Company has not undertaken sufficient independent verification of the data, assumptions, methodologies, or parameters upon which the historical estimates were based. There is a risk that any future verification work, exploration, analysis, and modelling may produce results that differ substantially from the historical estimates presented herein. The Company considers these historical estimates to be relevant as they indicate the potential presence and scale of mineralization on the properties. The Company intends to undertake data verification programs, potentially including assaying of historical core, database validation and verification, check surveys, and updated geological modelling to support the preparation of current mineral resource estimates prepared by a QP in accordance with current NI 43-101 and CIM Guidelines.

^[1] A Qualified Person (QP) has not done sufficient work to classify these historical estimates as current mineral resources or reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves.
^[2] Mineralization hosted on nearby or adjacent properties is not necessarily indicative of mineralization hosted on the Company's properties.
^[3] LCL Resources Ltd., October 16, 2023, May 3, 2024, Press Releases.
^[4] Agencia Nacional de Minería (Colombia), Auto de Fiscalización Integral No. 582 de 2024, issued September 26, 2024
^[5] LCL Resources Ltd., November 11, 2022, Press Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255706