Eric Sprott Announces Changes to His Holdings in Tudor Gold Corp

Eric Sprott announces that, on September 22, 2025, 800,000 common share purchase warrants (Warrants) of Tudor Gold Corp. held by 2176423 Ontario Ltd., a corporation beneficially owned by him, expired unexercised representing a decrease in holdings of approximately 2.1% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to such expiry, Mr. Sprott beneficially owned and controlled 57,018,069 Shares and 2,355,550 Warrants representing approximately 15.1% of the outstanding Shares on a non-diluted basis and approximately 15.6% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the expiry of the Warrants, Mr. Sprott now beneficially owns 57,018,069 Shares and 1,555,550 Warrants representing approximately 15.1% of the outstanding Shares on a non-diluted basis and approximately 15.5% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry, combined with previous share issuances by Tudor Gold, resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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