TDG Gold Corp. announced that it has entered into a definitive purchase agreement (the "Purchase Agreement") with ArcWest Exploration Inc. ("ArcWest") pursuant to which TDG will acquire from ArcWest a 100% interest in the Oxide Peak mineral claims ("Oxide Peak") located in the Toodoggone District of north-central B.C. (the "Acquisition"). Oxide Peak covers 8,490 hectares of prospective exploration ground to the north of and contiguous with TDG's Baker Complex.

Oxide Peak provides multiple opportunities for copper-gold porphyry discoveries. Since signing the initial option agreement with ArcWest in December 2019 (the "Option Agreement"), TDG has completed approximately $3.3 million of exploration expenditures on Oxide Peak including 2050 metres of diamond drilling. Under the terms of the Purchase Agreement, in consideration for the Acquisition, TDG will pay ArcWest $100,000 and will issue to Arcwest 412,031 common shares of TDG (the "TDG Shares").

Additionally, ArcWest will receive a 2% net smelter returns royalty on the Oxide Peak property, of which 1% may be repurchased by TDG for $1,000,000. The Purchase Agreement replaces the Option Agreement, which has been terminated. The TDG Shares will be subject to a four-month hold period under applicable securities laws, as well as certain orderly sales requirements agreed to between TDG and ArcWest.

The Acquisition remains subject to the approval of the TSX Venture Exchange.