Exploration Drill Program Commences At Tower Mountain Gold Property

ONTARIO - Thunder Gold Corp. has commenced diamond drilling at the Tower Mountain Gold Property, located 50-km west of Thunder Bay, ON. Exploration data analysis indicates IP chargeability correlates to increased gold grade. Initial drill holes to target the strongest chargeable anomaly identified to-date. Additional holes shall target new chargeable targets identified by the 2022 survey. The main objectives are to: 1) Rapidly expand the footprint of the low-grade gold mineralization. 2) Demonstrate potential for discovery of higher-grade gold mineralization. 3) Demonstrate potential for additional mineralization elsewhere within the assembled claim package.

Wes Hanson P.Geo., CEO, said, “Our primary objective with our initial 2023 drill program is to rapidly demonstrate that Tower Mountain offers a conceptual exploration target ranging from 50 to 100 million tonnes averaging 0.70 to 0.90 g/t Au. Our secondary objective is to demonstrate opportunities to increase both the quantity (size) and quality (grade) of the conceptual exploration target. Recent petrographic and geochemistry suggests that mineralization at Tower Mountain may represent a large, magmatic hydrothermal system associated with the alkalic Tower Mountain Intrusive Complex (TMIC). Surface sampling has identified anomalous gold mineralization around the entire perimeter of the intrusion, specifically at or near the intrusive-volcanic contact. Gold mineralization is relatively agnostic of rock type and carbonatization is the dominant alteration. We have established a direct relationship between pyrite content, IP chargeability strength and gold grade with each increasing in direct proportion to the other. We believe Tower Mountain offers an opportunity for a large-tonnage, low-grade gold discovery and note that the current 35,000 meters of drilling is woefully inadequate to demonstrate that potential. Our initial drilling targets the strongest chargeable response identified to-date, an anomaly that has been tested by portions of five (5) holes, all of which are clustered at the extreme, southeastern edge of the anomaly. This anomaly persists over 500 meters (length) x 200 meters (width) x +300 meters (depth), offering a potential tonnage of greater than 75 million tonnes. Our analysis suggests that gold grades are approximately 2x higher inside the +40 mV/V anomaly and the frequency of composites greater than cut-off is 2 to 3x more frequent. We also note that the Bench, Ellen and A targets surround the +40mV/V anomaly and may in fact be reflecting the lower-grade peripheral response of the magmatic system that introduced the gold into the host rocks. Our plan is to complete 6-8 holes on 100 meter spaced sections along the length of the priority IP target. An additional 4-6 holes shall test other IP anomalies that we expect will be isolated from the expanded IP survey completed earlier this year."