Thunder Gold Purchases Freehold Patent in Shebandowan Greenstone Belt, Ontario
Rhea-AI Summary
Thunder Gold (TSXV: TGOL / OTCQB: TGOLF) purchased 100% of the Halow freehold patent adjacent to its Tower Mountain Property in the Shebandowan Greenstone Belt, Ontario on April 16, 2026.
Highlights: a January 19, 2026 MRE shows Indicated 34.5 Mt @ 0.46 g/t (514,000 oz) and Inferred 211.1 Mt @ 0.45 g/t (3,053,000 oz); all-in discovery cost C$3.95/oz; 15,000-m resource drill program underway; five winter drill holes (750 m) completed, assays expected within a week.
Positive
- Inferred resource of 3,053,000 oz gold (211.1 Mt @ 0.45 g/t)
- Indicated resource of 514,000 oz gold (34.5 Mt @ 0.46 g/t)
- All-in discovery cost of C$3.95 per inferred ounce
- 15,000-m resource definition drill program ongoing
- Acquired Halow freehold patent adjacent to Tower Mountain
- Five winter drill holes totaling 750 metres completed
Negative
- No Measured resources; resources remain unproven reserves
- Majority of resources are Inferred, which are uncertain in nature
- Recent drill assay results pending, creating short-term data uncertainty
News Market Reaction – TGOLF
In the Apr 16 session, TGOLF gained 0.99%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Thunder Bay, Ontario--(Newsfile Corp. - April 16, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") is pleased to announce it has purchased
Wes Hanson P.Geo., President and CEO states: "Our 2025 fall fieldwork, funded in-part, by the Ontario Junior Exploration Program ("OJEP"), identified two anomalous gold trends near the Halow patent (Reference Figure 2). Rock sampling established a 100 to 150-metre wide, east-northeast (ENE) gold trend along a 700-metre strike length, consisting largely of Timiskaming conglomerate. Fifty-five (55) rock samples within the trend average 0.363 g/t Au. Approximately
A second gold in soil anomaly, located 250 metres to the south, is defined by multi-station, gold in soil results greater than 25 ppb Au on the lines located along the Halow property boundary.
In February 2026, we decided to take advantage of the winter conditions and direct our remaining OJEP funds to drilling the ENE striking target immediately north of the Halow patent. A total of five holes (750 metres) were completed. Assays results are expected within a week. Four of the five drill holes intersected broad intervals (up to 100 metres) of distinctive, Timiskaming conglomerate with variable pyrite tenor ranging from trace to
The Timiskaming conglomerate trend offers a second prospective target at Tower Mountain, enhancing our opportunity to define a Tier One gold discovery, augmenting the established resource potential surrounding the Tower Mountain Intrusive Complex,
Tower Mountain Property Highlights
- January 2026 Mineral Resource Estimate as summarized in Table 1;
- All-in discovery cost of C
$3.95 per inferred resource ounce; - Year-round paved highway access;
- 40 kilometres from the port of Thunder Bay, Ontario;
- Road, rail and hydro at property boundary;
- 15,000-metre resource definition drill program in progress.
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 MRE is January 19, 2026.
- Messrs. 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.
Figure 1 - Halow Patent - Shebandowan Greenstone Belt, Ontario, Canada
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/292775_73c6a38af4052b23_001full.jpg
Sources of Historical Information
Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 52A12SE0001 A Report on Geological, Geochemical and Physical Work Completed on the Conmee-Kwiatkowski Property, Conmee & Horne Townships, Thunder Bay Mining District, Andrew Tims, Hemlo Gold Mines Inc. 1996
Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 52A12SE0005 DDH LOG 97-1; DDH LOG 97-2; Appendix 4 Assay Certificates.
Reference Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 20000021502 Electra Nickel Property, Adrian, Conmee and Horne Townships, Ontario, Canada, R. Campbell, P.Geo., M. St-Pierre, P.Geo, May 10, 2023.
Figure 2 - Geochemical Compilation Plan - Halow Patent Area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/292775_73c6a38af4052b23_002full.jpg
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
Bryan Baritot, Investor Relations
IR@thundergoldcorp.com
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