Toogood Gold Reports Final Drilling Assays, with All Holes Reporting Gold, Including First 3 of 3 Holes at Mélange Contact

13:00 Uhr  |  Newsfile

Vancouver, January 13, 2026 - Toogood Gold Corp. (TSXV: TGC) (OTCQB: TGGCF) (FSE: D3P) ("Toogood" or the "Company") today reported final drilling assays at its 100%-owned Toogood Gold Project ("Toogood" or the "Project"), located on New World Island in the mining-friendly jurisdiction of Newfoundland, Canada.

Key Point Summary

• Quinlan verified as a coherent gold system, open in all directions: All 30 drill holes intersected the Quinlan felsic dyke and returned gold, with high-grade intervals and visible gold in 10 of 30 holes indicating a continuous unconstrained mineralized system (see Tables 1-2);
• Drill-confirmed scale of the Quinlan has materially expanded: Down-dip geometry has increased from ~120 m to ~240 m, and strike length extent from ~200 m to ~350 m, with mineralization and geological control open in all directions;
• Priority expansion direction defined: The strongest 2025 intercept at Quinlan (25TG014: 29.31 m @ 2.20 g/t Au from 35.00 m) was intersected at the southwestern extent of drilling, establishing this open strike direction as a high priority trend for the next phase of drilling;
• First-ever drilling at the Mélange Contact returned gold in all holes: 100% hit rate of the never-before drilled Mélange Contact ("Mélange"), with all 3 holes reporting gram to multi-gram gold (Table 1);
• Clear vectoring toward structural convergence: Drilling at both Quinlan and Mélange are vectoring mineralization to the southwest and west, respectively, and the convergence of both these trends now represents a top-priority structural intersection drill target;
• District-scale exploration potential: Mélange drilling results establish target as a prospective, gold-bearing corridor, unlocking >15 kilometers ("km") of undrilled, prospective trend;
• Key targets for next phase of work established: Extensive systematic exploration warranted throughout the district-scale Mélange trend, including extensive soils and detailed structural mapping to refine future drill targets.

Management Commentary

"2025 drilling at Toogood materially expanded the mineralized felsic dyke (down-dip +100%, strike +75%) and confirmed the Mélange Contact as a district-scale gold-bearing trend that extends for more than 15 km across the Toogood Gold Project," said Colin Smith, CEO of Toogood Gold Corp. "A 100% hit rate of gold-bearing sulphidic contact mineralization at Mélange validates this corridor and warrants immediate, systematic follow-up to define geochemical and structural drill targets."

2025 Drill Program

A total of 1,999 metres in 33 diamond drill holes were completed at the Project from July to September 2025 (Figure 1, Table 2). The program was designed to (i) systematically expand the Quinlan gold system along strike and down-dip through a combination of step-out and delineation drilling, and (ii) complete the first-ever drill test of the Mélange Contact, a regionally extensive lithological/structural boundary interpreted to represent a prospective district-scale target corridor (Figure 2).

At Quinlan, 30 of 30 holes successfully intersected the targeted mineralized felsic dyke and all 30 holes reported gold, with visible gold logged in 10 of 30 holes (Table 1, Figure 3). Drilling materially expanded the drill-confirmed scale of the Quinlan dyke to ~350 m of strike (75% increase) and expanded the down-dip extent to ~240 meters (100% increase), with the broader mineralized system remaining open in all directions.

At the Mélange Contact, 3 of 3 holes intersected a sulphidic (py-asp ± cpy) gold-bearing structural contact zone and returned gram to multi-gram gold, supporting the Company's thesis that Mélange represents a previously untested, district-scale target (Table1, Figures 1-3). These initial results open up a >15 km long prospective, largely undrilled trend for systematic follow-up.

Table 1: 2025 Drill Interval Summary

Intervals are downhole; true widths are unknown at this time. "VG" denotes visible gold logged in core. Assays are uncut.

Table 2: 2025 Drill Program Collar Summary (CLICK HERE)

Figure 1: Plan map of Quinlan drilling, newly identified Mélange Contact trend, rock samples, and geology.

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Figure 2: Regional view of district-scale Mélange Contact trend.

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Figure 3: (A) Core photograph of visible gold in felsic dyke, logged in = hole 25TG015 at 11 m depth. (B) Core photograph of visible gold logged in drill hole 25TG027 at 36 m depth. (C) Core photograph of sulphidic (py-asp ± cpy) Mélange Contact gabbro, drill hole 25TG029.

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Quality Assurance / Quality Control ("QA/QC")

The Company implemented a QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with the National Instrument 43-101 and industry best practices.

Core samples were logged and processed at the company's core processing facility in Summerford, Newfoundland. Core sampling procedures were standardized and non-biased, with same side of the split core sent to the laboratory. Samples were placed in sealed, tagged bags and driven to the laboratory by company personnel.

All HQ split core assays reported were obtained by either whole sample metallic screen/fire assay or standard 30-gram fire-assay with at Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. The whole sample metallic screen assay method was selected by the geologist. Assays are uncut, and calculated intervals are reported over a minimum length of 0.25 meters using a lower cutoff of 0.5 g/t Au.

A rotation of certified standards, coarse and pulp blanks were inserted into the sample stream every 10 samples and after samples with coarse gold. In addition, a duplicate sample (quarter core) was inserted every 20 samples. The company QAQC, as well as the laboratory inserted standards, blanks, and duplicates were monitored closely upon receiving assay certificates from the laboratory.

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.

About Toogood Gold Corp.

Toogood Gold Corp. is a Canadian exploration company focused on the discovery and advancement of high-grade gold deposits in Newfoundland. The Company holds a 100% interest in the district-scale Toogood Gold Project (164 km²), strategically located within the highly prospective Exploits Subzone - a structurally complex and underexplored gold district that has yielded several recent high-grade discoveries.

The Project's inaugural drill program in 2022 delivered a new, at-surface high-grade gold discovery, with visible gold encountered in 15 of 19 holes and mineralization remaining open in all directions¹. Follow-up drilling in 2025 continued to expand this system, intersecting visible gold in 10 of 30 holes and further confirming open-ended mineralization along strike and at depth².

The Toogood Gold Project benefits from exceptional infrastructure, including paved highway access, power lines, fresh water, and proximity to deep water ports, positioning the Project for efficient, low-cost exploration and development.

¹Refer to Prospector Metals Corp. ("Prospector") news release dated August 22, 2022

²Refer to Toogood Gold Corp. (Toogood") news release dated Sept 22, 2025

On Behalf of the Board of Directors

Colin Smith
Director & CEO
Toogood Gold Corp.

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.

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