Thunder Gold Announces Warrant Exercise for CDN$1,085,416
Rhea-AI Summary
Thunder Gold (OTCQB: TGOLF) reports that investors, including management, have exercised 10,229,163 share purchase warrants at $0.10 and 1,041,665 broker compensation options at $0.06, generating aggregate gross proceeds of CDN$1,085,416. These securities were originally issued in a January 24, 2025 private placement.
According to Thunder Gold, the strengthened balance sheet supports its Tower Mountain gold project, where a resource definition drill program is expected to start next week and be completed by the end of September ahead of an updated mineral resource estimate. The Tower Mountain property currently hosts an initial mineral resource of 514,000 oz indicated and 3,053,000 oz inferred, and the technical information has been reviewed by Qualified Person Wes Hanson, P.Geo.
Positive
- CDN$1,085,416 gross proceeds from warrant and option exercises
- Exercise of 11,270,828 warrants and broker options at $0.10 and $0.06
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Thunder Bay, Ontario--(Newsfile Corp. - July 28, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") is pleased to announce that investors, including management, have exercised a total of 10,229,163 share purchase warrants (the "Warrants") at an exercise price of
Wes Hanson, President and CEO, states, "I am very pleased at the continued support and confidence shown from our long-term shareholders. The warrant exercises further strengthen our balance sheet as we continue to focus on demonstrating the tremendous potential at Tower Mountain. We remain on track to commence our resource definition drill program next week, in order to convert Inferred Resources to Indicated Resources. This increases the degree of confidence in the gold property. We expect to complete this drill program by the end of September in advance of an updated MRE."
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 7,625 hectare,
About Thunder Gold Corp.
Thunder Gold is advancing the Tower Mountain project in Thunder Bay, Ont. -- an emerging gold system with the scale, consistency and quality to support a long-life, open-pit operation. Results from the disciplined drill programs have consistently reinforced confidence in the continuity and predictability of the discovery while highlighting significant potential for expansion across multiple zones of the Tower Mountain intrusive complex. With industry-leading drilling costs, existing infrastructure and a skilled local work force, Tower Mountain represents a rare combination of size, scalability and cost-effective growth.
At Thunder Gold, our vision is clear: to unlock a discovery that has the potential to become a transformational gold project, delivering long-term value for shareholders while contributing to the future of Canada's mining industry.
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
Bryan Baritot, Investor Relations
IR@thundergoldcorp.com
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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: the anticipated use of proceeds from the Warrant and broker compensation option exercises; the timing and results of the Company's resource definition drill program; the anticipated conversion of Inferred Resources to Indicated Resources; the timing of an updated MRE; and 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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