There is a very high probability that a software toolchain built on 10.5 Leopard PPC and then moved over to 10.6 would run. It will run on a 10.6 Intel system after all (Rosetta) and with any luck at all, would also run on a 10.6 PPC system.
You would build ld64, cctools, and gcc7.5.0 and move them ''en mass' as a consistent block to the new system. The simplest method I can think of to do this would be to install the three into a custom prefix using MacPorts (eg /opt/toolchain), and then compress and copy the entire folder, or at least all the binaries and libs, to the new system into /opt/toolchain, and with any luck at all you'd be in business. MacPorts can very easily generate a self-contained installer for such things as an available option. Something like this:
sudo port pkg cctools
gives you a cctools installer, with all needed deps included. I think with gcc7 you get everything you need at one time:
sudo port pkg gcc7
as gcc7 depends on cctools, ld64, and all the other parts.
Yea I agree, this is what SM64EXLC.app has in it:
bzip2 version 1.0.8_0
cctools version 949.0.1_0
db48 version 4.8.30_4+java
expat version 2.2.10_0
gcc7 version 7.5.0_2
gcc_select version 0.1_9
gdbm version 1.19_0
gettext version 0.19.8.1_2
glew version 2.2.0_0
gmake version 4.3_0
gmp version 6.2.1_0
gperf version 3.1_0
i686-w64-mingw32-binutils version 2.36.1_0
i686-w64-mingw32-crt version 8.0.0_0
i686-w64-mingw32-gcc-bootstrap version 10.2.0_0
i686-w64-mingw32-gcc-nothreads version 10.2.0_0
i686-w64-mingw32-headers version 8.0.0_0
isl version 0.22.1_0
ld64 version 3_3+ld64_127
ld64-127 version 127.2_14+llvm33
libedit version 20210216-3.1_0
libffi version 3.3_1
libgcc version 3.0_0
libgcc7 version 7.5.0_0
libiconv version 1.16_1
libmacho-headers version 949.0.1_0
libmpc version 1.2.1_0
libunwind-headers version 5.0.1_0
llvm-3.3 version 3.3_11
llvm_select version 2_0
lzip version 1.22_0
mpfr version 4.1.0_0
ncurses version 6.2_1
openssl version 1.1.1j_0
perl5 version 5.28.3_0+perl5_28
perl5.28 version 5.28.3_1
pkgconfig version 0.29.2_0
python3_select version 0.0_2
python39 version 3.9.2_0
python_select version 0.3_9
readline version 8.1.000_0
sqlite3 version 3.34.1_0
xz version 5.2.5_0
zlib version 1.2.11_0