Tudor Gold Provides Update on Seabridge Dispute, 2026 Drill Campaign, and PEA Progress

Tudor Gold says its Treaty Creek project is advancing toward a PEA that envisions roughly a 10,000-tonne-per-day underground operation producing up to 300,000 ounces per year. Management said metallurgical testing is nearing completion, while 2026 drilling at Perfect Storm and CBS is intended to define additional multi-million-ounce inventory and improve the project’s scale economics. The company also addressed the Seabridge tunnel issue, framing it as a permitting/regulatory pause rather than a fundamental project setback. That suggests the near-term focus is on technical de-risking and resource growth rather than a financing or operating crisis, with the PEA process likely to be the next major catalyst for the market. For gold equities, the key watchpoint is whether drilling can materially expand the resource base and support a larger, lower-cost development case. Any positive metallurgical results or stronger-than-expected PEA economics could re-rate the story, while permitting delays or weak study assumptions would likely keep the shares range-bound.