Vancouver, British Columbia--(Newsfile Corp. - August 5, 2025) - Toogood Gold Corp. (TSXV: TGC) ("Toogood" or the "Company") today announced that it has acquired an option to acquire a 100% interest in a highly prospective and strategic mineral claim ("Stockley Kennedy Property") located within the core of its flagship Toogood Gold Project, situated on New World Island in Newfoundland, Canada.
Key Point Summary
- Acquisition of the 375 hectare ("ha") Stockley Kennedy Property ("SKP") within the core of the southwest Toogood Gold Project (Figures 1-3);
- The ground hosts significant gold anomalism, and three known high-grade gold targets ("Sherwood", "Chimo" and "Vic") with structural and lithological characteristics that align with key mineralized trends and discoveries across the Project (Figures 4-7);
- SKP adds approximately 4 ("km") of strike along the Virgin Arm Fault - a major regional structure within Newfoundland's Exploits Subzone, spatially associated with several significant gold discoveries;
- Hosts a 2.5-km-long arsenic-in-soils anomaly ("As"), a pathfinder element which show direct correlation to gold mineralization in property wide soils, rock, channel, trench and drilling samples (Figures 1-3);
- Bonanza-grade rock samples:
- Chimo Zone: 127.0 g/t Au (outcrop), 82.2 g/t Au (outcrop), 29.5 g/t Au (outcrop), 10.0 g/t Au (outcrop)
- Vic Zone: 67.3 g/t Au (float), 58.9 g/t Au (float), 20.9 g/t Au (subcrop)
- Sherwood Zone: 15.3 g/t Au (subcrop);
- Holmer Zone: historical drill hole intercept of 0.83 g/t Au over 12.00 m, incl. 1.42 g/t Au over 5.00 m;
- SKP hosts 8 historical drill holes (1 at Sherwood, 2 at Chimo, and 5 at Holmer), with all holes intercepting multiple zones of gold mineralization, substantiating the presence of underexplored in situ gold mineralization and discovery potential.
"This newly acquired ground lies within one of the strongest and most continuous arsenic-in-soil anomalies identified at the Toogood Project, and hosts numerous multi-once-per-tonne outcrop targets," said Colin Smith, CEO of Toogood Gold Corp. "With its favorable geology, structural complexity, and known high-grade occurrences, this block presents outstanding discovery potential. Thorough surface work has commenced to distill future drill targets, including structural and geological mapping, prospecting, rock sampling."
Figure 1: Plan map of SKP, showing surficial geochemistry, drilling and access.
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Figure 2: Plan map of SKP, showing surficial geochemistry, drilling, major structures and access.
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Figure 3: Plan map of SKP, showing surficial geochemistry, drilling major structures, geology and access.
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Figure 4: Plan map of Sherwood, Chimo and Holmer targets, showing surficial geochemistry, drilling, major structures, geology, and access.
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Figure 5: Plan map of Vic target, showing surficial geochemistry, major structures, geology and access.
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Figure 6: 3D cross section of Holmer showing drill hole assays from 2011 (Ethos Gold Corp.).
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Figure 7: 3D cross section of Chimo showing drill hole assays from 2011 (Ethos Gold Corp.).
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Summary of Transaction
The Option Agreement allots and issues an aggregate of $130,000 CAD in cash and $200,000 CAD in Common Shares at a price equal to the Consideration Share Price, to be issued as follows:
- $50,000 cash payment on agreement signature (the "Effective Date");
- $50,000 in Common Shares as soon as practicable after receipt of TSXV Approval (the "Closing Date");
- $50,000 in Common Shares and $30,000 cash payment on or before the first anniversary of the Effective Date;
- $100,000 in Common Shares and $50,000 cash payment on or before the second anniversary of the Effective Date.
Restricted Share Unit ("RSU") Grant
The Company has granted 2,500,000 RSU's to directors, officers, and consultants of the Company, subject to TSX Venture Exchange approval. The RSU's will vest over a two-year period.
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 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.
On Behalf of the Board of Directors
Colin Smith
Director & CEO
Toogood Gold Corp.
For further information contact:
Colin Smith, Director & CEO
info@toogoodgoldcorp.com
Additional information about Toogood Gold Corp. can be found at www.sedarplus.ca.
Forward-Looking Information
This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be considered forward-looking statements. Examples of forward-looking statements in this news release include, amongst others, the completion of the Proposed Transaction on the terms described herein or at all, the receipt of all necessary corporate and regulatory approvals (including the approval of the Exchange) for the Proposed Transaction. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Toogood Gold Corp.
