Thunder Gold Announces Board Changes
Rhea-AI Summary
Thunder Gold (TSXV: TGOL; OTCQB: TGOLF) appointed Glenn Nolan to its board effective April 21, 2026, with Nigel Lees moving to lead a newly formed Advisory Board. The company also referenced a Tower Mountain mineral resource estimate (effective Jan 19, 2026): Indicated 34.5 Mt @ 0.46 g/t (514,000 oz) and Inferred 211.1 Mt @ 0.45 g/t (3,053,000 oz).
The MRE used a 0.19 g/t cut-off and open-pit economic assumptions including a US$3,000/oz gold price and 80% recovery.
Positive
- Indicated resources of 34.5 Mt containing 514,000 oz Au
- Inferred resources of 211.1 Mt containing 3,053,000 oz Au
- Board appointment adds Indigenous engagement expertise via Glenn Nolan
Negative
- No Measured resources reported; resources remain not proven reserves
- MRE uses a US$3,000/oz gold price and 80% recovery assumptions
- Inferred category uncertainty: significant exploration required to upgrade resources
Thunder Bay, Ontario--(Newsfile Corp. - April 21, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") announces that Glenn Nolan, former Chief of the Missanabie Cree First Nation and past President of the Prospectors and Developers Association of Canada, has agreed to join the Company's Board of Directors effective immediately. Nigel Lees, long-time Director and invaluable contributor to the Company's Board of Directors for the past three years, has graciously offered his Board seat and will lead the Company's newly formed Advisory Board.
Glenn Nolan is well known throughout the mining industry as an accomplished bridge builder between Indigenous communities and the mining industry. Glenn received the PDAC 2023 Skookum Jim Award for his leadership in fostering meaningful engagement and consultation between industry and Indigenous communities, and for his long history of volunteerism. He was elected as director of the PDAC's Indigenous Affairs Committee in 2005 and went on to serve as the Association's first Indigenous President from 2012 to 2014.
As former Chief of the Missanabie Cree First Nation and executive of Ring of Fire Metals (formerly Noront Resources), Mr. Nolan understands both the struggles and aspirations of Indigenous peoples as well as the challenges faced by exploration companies.
This perspective informs his vision of advancing economic opportunities for Indigenous peoples worldwide, and he continues to support the Shuar people of Ecuador and Peru to help establish better relations with government and the mining sectors. In addition, Mr. Nolan was chair of the Canadian Executive Service Organization.
Wes Hanson, President and CEO states, "First, I'd like to express our sincere appreciation for Nigel's contributions to Thunder Gold for the past three years and his leadership in transitioning to an advisory role to allow Glenn to join us as a Director. Nigel has been an invaluable contributor to our success to date and shall continue to be a source of knowledge, leadership and advice in the future."
"I've had the privilege of working with Glenn Nolan in the past. He is an exceptional human being with a unique knowledge base, bridging industry, Indigenous and local stakeholders. Glenn was born, raised, worked and has now retired in northwestern Ontario. He understands the people, their concerns and their significant connection to the land. He also understands responsible resource development from a career spanning more than four decades. He is well known as an advocate for sustainable, responsible, inclusive mineral development. As a Board, we are fortunate to be able to learn and benefit from his skills, knowledge and perspective as we advance our flagship Tower Mountain property, located west of Thunder Bay."
On January 26, 2026, the Company announced a mineral resource estimate for Tower Mountain as summarized in Table 1. The estimate was prepared by Micon International Limited ("MICON"), Toronto, Ontario, Canada, an independent engineering firm specializing in mineral resource and reserve estimation for a global client pool.
Table 1. Tower Mountain Mineral Resource Estimate - January 19, 2026
| Category | Tonnage (Mt) | Grade (g/t Au) | Contained Metal ('000 oz gold) |
| Indicated | 34.5 | 0.46 | 514 |
| Inferred | 211.1 | 0.45 | 3,053 |
Notes:
- The effective date of this Mineral Resource Estimate ("MRE") is January 19, 2026.
- William Lewis, P.Geo., Charley Murahwi, P.Geo., FAusIMM, and Tudorel Ciuculescu, P.Geo. from Micon International Limited are the Qualified Persons (QPs) responsible for this MRE.
- The MRE has been classified in the Indicated and Inferred categories. At this time, there are no Measured resources at the Tower Mountain Project.
- The calculated gold cut-off grade is 0.19 g/t Au.
- An average specific gravity (SG) value of 2.77 g/cm3 was used.
- The MRE used economic assumptions for open pit mining. The following economic parameters were used for generating the cut-off grade: a gold price of US
$3,000 /oz,80% recovery, open pit mining cost of US$3.0 /t, processing costs of US$8.0 /t, general and administration cost of US$3.5 /t, transportation cost of US$2.5 /oz of gold, and a royalty of3% . - The open pit used slope angles of 30° in overburden and 50° in fresh rock.
- The block model is orthogonal and has a parent block size of 5 m x 5 m x 5 m, with minimum sub-block size of 2.5 m x 2.5 m x 2.5 m.
- The open pit optimization used a re-blocked size of 10 m x 10 m x 10 m.
- The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and Petroleum Standards and Practices.
- Numbers have been rounded to the nearest million tonnes and nearest thousand ounces. Differences may occur in totals due to rounding.
- Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration; however, it is reasonably expected that a significant portion of Inferred Mineral Resources could be upgraded into Indicated Mineral Resources with further exploration.
- Micon QPs have not identified any legal, political, environmental, or other relevant factors that could materially affect the potential development of the mineral resources and of the estimate.
Qualified Person
Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established by NI 43-101.
About the Tower Mountain Gold Property
The
About Thunder Gold Corp.
Thunder Gold Corp. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit: www.thundergoldcorp.com.
On behalf of the Board of Directors,
Wes Hanson, P.Geo., President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com
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The information contained herein contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. All statements, other than statements of historical fact, are forward-looking statements and are based on predictions, expectations, beliefs, plans, projections, objectives and assumptions made as of the date of this news release, including without limitation: statements concerning the Offering; the anticipated use of proceeds from the Offering; statement concerning the participation right; the Company's plans regarding exploring its mineral exploration properties; anticipated results of geophysical drilling programs, geological interpretations and potential mineral recovery. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate funding on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to the gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise any forward-looking statements, other than as required by applicable law, to reflect new information, events or circumstances, or changes in management's estimates, projections or opinions. Actual events or results could differ materially from those anticipated in the forward-looking statements or from the Company's expectations or projections.
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