Thunder Gold Reports 411.0 Metres Averaging 0.514 g/t Au and Awards Magnetotellurics Airborne Survey of Tower Mountain

Drilling remained in mineralization approximately 75 metres beyond the previously interpreted contact, although true width cannot be estimated.

Rhea-AI Summary

Thunder Gold (TGOLF) reported new infill drilling results from its Bench Target and contracted an airborne survey at Tower Mountain.

The combined TM25-186/186X hole intersected 411.0 metres averaging 0.513 grams of gold per tonne from 90.0 to 501.0 metres. Its 252.0-metre extension ended in mineralization, with the final 19.5 metres averaging 0.523 grams per tonne. True width cannot be estimated because the hole followed the mineralized zone and did not exit it. Thunder Gold said the extension exceeded its model-predicted grade by 18%.

Expert Geophysics Surveys was contracted for a 285 line-kilometre magnetotellurics survey, which measures underground electrical resistivity. Completion is planned by October 31, 2026, with initial results expected by November 15.

8 points · 0 major

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0 major · 2 points

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Positive

• Moderate pointCombined TM25-186/186X drilling intersected 411.0 metres averaging 0.513 grams of gold per tonne.
• Minor pointFinal 19.5 metres averaged 0.523 grams of gold per tonne, leaving the hole ending in mineralization.
• Minor pointExtension grade exceeded the model prediction by 18%, Thunder Gold said.
• Minor pointExtension assays exceeded 0.10 grams of gold per tonne in 86% of results, Thunder Gold said.
• Minor pointMineralization continued approximately 75 metres beyond the previously interpreted contact horizontally.

3 minor points

• Minor pointEight completed infill holes indicate positive grade correlation to the January 9, 2026 resource estimate, Thunder Gold said.
• Minor point. Forward-looking: it has not happened yet and may not happen.Thunder Gold interprets sub-vertical continuity remaining open at depth and suggests average gold grade increases deeper.
• Minor point. Forward-looking: it has not happened yet and may not happen.Contracted 285 line-kilometre survey is planned for completion by October 31, with initial results expected November 15, 2026.

Negative

• Minor pointTrue width cannot be estimated because drill alignment and continued mineralization prevent establishing the zone's thickness.
• Minor pointExtension encountered two barren-to-low-grade intervals, with continuous down-hole intervals up to 12.0 metres.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Thunder Bay, Ontario--(Newsfile Corp. - October 13, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") is pleased to announce the following infill diamond drill results from the Bench Target, at the Company's flagship Tower Mountain Property, 40 kilometres west of Thunder Bay, Ontario.

Highlights:

• TM25-186X extended TM25-186 252.0 metres, delivering a combined intersection of 411.0 metres averaging 0.514 g/t Au;
• TM25-186/186X intersected semi-continuous mineralization from collar to 90 metres and continuous gold mineralization to the end-of-hole at 501.0 metres;
• TM25-186X terminated in mineralization intersecting 19.5 metres averaging 0.523 g/t Au; and,
• The Company has contracted Expert Geophysics Surveys Inc., Newmarket, Ontario, to complete a 285 line-kilometre airborne Mobile MT ("MagnetoTellurics") survey over the Tower Mountain Intrusive Complex.

TM25-186/186X was drilled from east to west across the main Bench-3738-Ellen ("B-E") trend (Reference Table 1.0 and Figure 1.0).

Wes Hanson, President and CEO states, "TM25-186X, drilled sub-parallel to the northern B-E contact, intersected consistent, gold grades over the entire 252-metre extension as expected, with 86% of the results assaying greater than 0.10 g/t Au. TM25-186X exceeded the model predicted grade by 18% (Reference Figure 3.0). Collectively, the eight infill holes completed to date indicate a net positive grade correlation to the January 9, 2026, Mineral Resource Estimate. The results to date continue to suggest strong, sub-vertical continuity which remains open at depth. The results also suggest average gold grade is increasing as we delve deeper into the system and site geologists are noting visible chalcopyrite at depth as well."

"MagnetoTellurics ("MT") is a natural-source resistivity survey with a greater than 1.0-kilometre depth of investigation. It is often deployed to map alteration in porphyry copper-gold systems with useful resolution as deep as 2.0 kilometres. We believe that the MT survey may clarify alteration changes at depth, improving drill targeting as we look to test the core of the Tower Mountain system, especially as gold grades appear to be increasing with depth and we are seeing an increase in chalcopyrite, as we drill deeper into the system. The MT survey results are expected by mid-November, coincident with the final drill holes planned for the 2026 filed season."

Table 1.0 provides the location and orientation of TM25-186X.

Figure 1.0 is a plan view showing the location of the drill holes reported in this news release.

Table 1.0 - B-E Target - Drill Hole Location Bearing and Dip

Hole ID	Easting	Northing	Elevation	Bearing	Dip	TD
TM25-186X	300750.8	5377608	262.247	99.5	-44.8	252

 

Figure 1.0 Bench Target Diamond Drill Plan - October 13, 2026

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TM25-186/186X

TM25-186 was originally drilled and reported in 2025. TM25-186X extended the original hole 252.0 metres. The combined hole parallels the northern B-E Target contact (Reference Figure 1.0). TM26-186X targeted inferred resource blocks within the optimized pit limit constraining the current MRE.

TM25-186/186X is positioned approximately 125 metres vertically above TM26-210 - 115 metres averaging 0.67 g/t Au and 250 metres below TM26-218 - 99.0m averaging 0.352 g/t Au (Reference Figure 2.0).

TM25-186/186X is mineralized from surface to the end of the hole. Table 2.0 summarizes the significant results and Table 3.0 presents the individual assays from the collar to the end-of-hole. TM25-186X intersected two narrow intervals of barren to low grade gold values over continuous down-hole intervals up to 12.0 metres in length. Otherwise, the hole is consistently mineralized from the collar to the end of the extension.

TM26-186X is the first hole where the interpreted B-E Target contact was not intersected where interpreted. The hole remained in mineralization for a horizontal distance of approximately 75 metres beyond the previously interpreted contact.

Due to the alignment and the fact that TM25-186X failed to exit the mineralization, true width cannot be estimated for this hole.

Table 2.0 - TM25-186/186X Significant Results

Hole ID	From (m)	To (m)	Length (m)	Grade (Au g/t)	True  Width (m)
TM25-186	3.0	501.0	498.0	0.440	Unknown
includes	10.5	33.0	22.5	0.178	Unknown
and	90.0	501.0	411.0	0.513	Unknown
includes	90.0	249.0	159.0	0.627	Unknown
includes	90.0	94.5	4.5	0.879	Unknown
and	94.5	108.0	13.5	0.076	Unknown
and	108.0	123.0	15.0	1.654	Unknown
and	123.0	150.0	27.0	0.092	Unknown
and	150.0	186.0	36.0	0.322	Unknown
and	186.0	210.0	24.0	1.087	Unknown
and	210.0	222.0	12.0	0.341	Unknown
and	222.0	270.0	48.0	0.713	Unknown
includes	222.0	249.0	27.0	0.951	Unknown
TM25-186X	249.0	501.0	252.0	0.443	Unknown
includes	249.0	270.0	21.0	0.407	Unknown
and	270.0	307.5	37.5	0.258	Unknown
and	307.5	435.0	127.5	0.433	Unknown
and	435.0	468.0	33.0	0.785	Unknown
and	468.0	481.5	13.5	0.162	Unknown
and	481.5	501.0	19.5	0.523	Unknown
True Width cannot be estimated at this time due to lack of data

 

TM25-186/186X continues to suggest strong sub-vertical continuity within the B-E Target contacts. Both higher grade intervals internal to the contacts as well as barren, late mafic dikes exhibit sub-vertical continuity, essentially paralleling the interpreted contact of the Tower Mountain Intrusive Complex ("TMIC") at depth.

Figure 2.0 - Cross Section TM25-186X

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https://images.newsfilecorp.com/files/5364/318446_c4bbdc5344547afe_002full.jpg

MagnetoTellurics Airborne Survey

Expert Geophysics Surveys Inc. ("EGS") has been contracted to complete a Mobile Magnetotellurics ("MobileMT") airborne survey of the TMIC and the magnetic low halo surrounding the TMIC outward for at least 500 metres based on current airborne magnetic surveys. A total of 285-line kilometres, spaced 100 metres apart, shall be flown in an east-west orientation across the TMIC and the prospective halo mineralization.

Numerous case studies, largely from porphyry copper-gold deposits worldwide, suggest Mobile MT can effectively isolate resistivity variation to depths of up to 2.0 kilometres from surface. The Company believes that alteration effectively controls gold mineralization and alteration can be effectively mapped from resistivity response.

The proposed 285 line-kilometre Mobile MT is planned to be completed by October 31, 2026, with initial results available by November 15^th, in advance of the final drill holes planned for the 2026 field season.

Table 3.0 -TM25-186/186X Complete Results

From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t
3.0	4.5	0.025		63.0	64.5	0.139		123.0	124.5	0.175
4.5	6.0	0.016		64.5	66.0	0.042		124.5	126.0	0.053
6.0	7.5	0.049		66.0	67.5	0.042		126.0	127.5	0.022
7.5	9.0	0.056		67.5	69.0	0.039		127.5	129.0	0.031
9.0	10.5	0.085		69.0	70.5	0.061		129.0	130.5	0.033
10.5	12.0	1.020		70.5	72.0	0.044		130.5	132.0	0.033
12.0	13.5	0.074		72.0	73.5	0.164		132.0	133.5	0.015
13.5	15.0	0.044		73.5	75.0	0.052		133.5	135.0	0.014
15.0	16.5	0.041		75.0	76.5	0.076		135.0	136.5	0.031
16.5	18.0	0.101		76.5	78.0	0.332		136.5	138.0	0.047
18.0	19.5	0.157		78.0	79.5	0.032		138.0	139.5	0.390
19.5	21.0	0.126		79.5	81.0	0.022		139.5	141.0	0.181
21.0	22.5	0.095		81.0	82.5	0.009		141.0	142.5	0.081
22.5	24.0	0.076		82.5	84.0	0.003		142.5	144.0	0.189
24.0	25.5	0.066		84.0	85.5	0.003		144.0	145.5	0.251
25.5	27.0	0.217		85.5	87.0	0.014		145.5	147.0	0.054
27.0	28.5	0.268		87.0	88.5	0.057		147.0	148.5	0.023
28.5	30.0	0.118		88.5	90.0	0.069		148.5	150.0	0.027
30.0	31.5	0.119		90.0	91.5	0.949		150.0	151.5	0.296
31.5	33.0	0.154		91.5	93.0	0.158		151.5	153.0	0.092
33.0	34.5	0.062		93.0	94.5	1.530		153.0	154.5	0.142
34.5	36.0	0.046		94.5	96.0	0.128		154.5	156.0	0.203
36.0	37.5	0.020		96.0	97.5	0.142		156.0	157.5	0.147
37.5	39.0	0.035		97.5	99.0	0.084		157.5	159.0	0.301
39.0	40.5	0.076		99.0	100.5	0.033		159.0	160.5	0.064
40.5	42.0	0.050		100.5	102.0	0.042		160.5	162.0	0.346
42.0	43.5	0.055		102.0	103.5	0.028		162.0	163.5	0.433
43.5	45.0	0.141		103.5	105.0	0.132		163.5	165.0	0.303
45.0	46.5	0.035		105.0	106.5	0.074		165.0	166.5	0.624
46.5	48.0	0.040		106.5	108.0	0.022		166.5	168.0	0.607
48.0	49.5	0.045		108.0	109.5	0.394		168.0	169.5	0.417
49.5	51.0	0.126		109.5	111.0	2.260		169.5	171.0	0.395
51.0	52.5	0.036		111.0	112.5	6.530		171.0	172.5	0.521
52.5	54.0	0.086		112.5	114.0	1.730		172.5	174.0	0.170
54.0	55.5	0.320		114.0	115.5	1.890		174.0	175.5	0.848
55.5	57.0	0.019		115.5	117.0	1.380		175.5	177.0	0.385
57.0	58.5	0.024		117.0	118.5	0.747		177.0	178.5	0.141
58.5	60.0	0.074		118.5	120.0	0.352		178.5	180.0	0.172
60.0	61.5	0.033		120.0	121.5	0.725		180.0	181.5	0.101
61.5	63.0	0.044		121.5	123.0	0.533		181.5	183.0	0.340

 

Table 3.0 -TM25-186/186X Complete Results (continued)

From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t
183.0	184.5	0.227		243.0	244.5	1.820		300.0	301.5	0.193
184.5	186.0	0.454		244.5	246.0	1.950		301.5	303.0	0.104
186.0	187.5	0.588		246.0	247.5	0.511		303.0	304.5	0.057
187.5	189.0	1.630		247.5	249.0	2.430		304.5	306.0	0.456
189.0	190.5	0.527		TM25-186X COLLAR				306.0	307.5	0.483
190.5	192.0	1.070		249.0	249.5	0.950		307.5	309.0	0.549
192.0	193.5	1.200		249.5	250.5	0.849		309.0	310.5	0.250
193.5	195.0	1.530		250.5	252.0	0.182		310.5	312.0	1.010
195.0	196.5	0.931		252.0	253.5	0.247		312.0	313.5	0.631
196.5	198.0	1.390		253.5	255.0	0.431		313.5	315.0	1.000
198.0	199.5	0.820		255.0	256.5	0.276		315.0	316.5	0.588
199.5	201.0	0.202		256.5	258.0	0.521		316.5	318.0	0.458
201.0	202.5	0.420		258.0	259.5	0.564		318.0	319.5	0.065
202.5	204.0	0.948		259.5	261.0	0.543		319.5	321.0	0.261
204.0	205.5	0.558		261.0	262.5	0.129		321.0	322.5	0.656
205.5	207.0	0.900		262.5	264.0	0.536		322.5	324.0	0.403
207.0	208.5	1.560		264.0	265.5	0.127		324.0	325.5	0.574
208.5	210.0	3.120		265.5	267.0	0.366		325.5	327.0	0.580
210.0	211.5	0.131		267.0	268.5	0.160		327.0	328.5	0.027
211.5	213.0	0.526		268.5	270.0	0.738		328.5	330.0	0.034
213.0	214.5	0.333		270.0	271.5	0.309		330.0	331.5	0.310
214.5	216.0	0.417		271.5	273.0	0.387		331.5	333.0	0.342
216.0	217.5	0.376		273.0	274.5	0.395		333.0	334.5	0.757
217.5	219.0	0.337		274.5	276.0	0.171		334.5	336.0	2.460
219.0	220.5	0.388		276.0	277.5	0.237		336.0	337.5	1.320
220.5	222.0	0.218		277.5	279.0	0.398		337.5	339.0	0.309
222.0	223.5	0.723		279.0	280.5	0.391		339.0	340.5	0.366
223.5	225.0	0.524		280.5	282.0	0.429		340.5	342.0	0.159
225.0	226.5	0.655		282.0	283.5	0.212		342.0	343.5	0.108
226.5	228.0	0.314		283.5	285.0	0.397		343.5	345.0	0.065
228.0	229.5	0.434		285.0	286.5	0.167		345.0	346.5	0.060
229.5	231.0	0.519		286.5	288.0	0.232		346.5	348.0	0.417
231.0	232.5	1.900		288.0	289.5	0.242		348.0	349.5	0.846
232.5	234.0	0.922		289.5	291.0	0.372		349.5	351.0	0.395
234.0	235.5	0.299		291.0	292.5	0.086		351.0	352.5	0.356
235.5	237.0	0.911		292.5	294.0	0.091		352.5	354.0	0.103
237.0	238.5	0.528		294.0	295.5	0.109		354.0	355.5	1.250
238.5	240.0	0.993		295.5	297.0	0.322		355.5	357.0	0.260
240.0	241.5	0.671		297.0	298.5	0.049		357.0	358.5	0.454
241.5	243.0	1.010		298.5	300.0	0.151		358.5	360.0	0.366

 

Table 3.0 -TM25-186X Complete Results (continued)

From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t		From (m)	To (m)	Au g/t
360.0	361.5	0.211		420.0	421.5	0.075		480.0	481.5	0.297
361.5	363.0	0.168		421.5	423.0	0.085		481.5	483.0	0.574
363.0	364.5	0.272		423.0	424.5	0.266		483.0	484.5	0.355
364.5	366.0	0.090		424.5	426.0	0.172		484.5	486.0	0.641
366.0	367.5	0.239		426.0	427.5	0.258		486.0	487.5	0.518
367.5	369.0	0.170		427.5	429.0	0.373		487.5	489.0	0.330
369.0	370.5	0.138		429.0	430.5	0.432		489.0	490.5	0.406
370.5	372.0	0.606		430.5	432.0	0.093		490.5	492.0	0.886
372.0	373.5	3.310		432.0	433.5	0.040		492.0	493.5	0.310
373.5	375.0	0.537		433.5	435.0	0.178		493.5	495.0	0.173
375.0	376.5	0.180		435.0	436.5	0.562		495.0	496.5	1.080
376.5	378.0	0.415		436.5	438.0	0.914		496.5	498.0	0.192
378.0	379.5	0.449		438.0	439.5	1.770		498.0	499.5	0.645
379.5	381.0	0.372		439.5	441.0	1.330		499.5	501.0	0.683
381.0	382.5	0.294		441.0	442.5	1.110
382.5	384.0	0.268		442.5	444.0	1.230
384.0	385.5	0.133		444.0	445.5	0.036
385.5	387.0	0.062		445.5	447.0	0.186
387.0	388.5	0.116		447.0	448.5	0.733
388.5	390.0	0.268		448.5	450.0	1.330
390.0	391.5	0.834		450.0	451.5	1.130
391.5	393.0	0.266		451.5	453.0	0.964
393.0	394.5	0.155		453.0	454.5	0.652
394.5	396.0	0.075		454.5	456.0	0.618
396.0	397.5	0.168		456.0	457.5	0.424
397.5	399.0	0.579		457.5	459.0	0.692
399.0	400.5	1.380		459.0	460.5	0.717
400.5	402.0	0.970		460.5	462.0	0.923
402.0	403.5	0.387		462.0	463.5	0.432
403.5	405.0	0.323		463.5	465.0	0.376
405.0	406.5	0.150		465.0	466.5	0.622
406.5	408.0	0.172		466.5	468.0	0.519
408.0	409.5	1.910		468.0	469.5	0.007
409.5	411.0	0.273		469.5	471.0	0.098
411.0	412.5	0.399		471.0	472.5	0.078
412.5	414.0	0.366		472.5	474.0	0.171
414.0	415.5	0.153		474.0	475.5	0.272
415.5	417.0	0.112		475.5	477.0	0.248
417.0	418.5	0.007		477.0	478.5	0.077
418.5	420.0	0.041		478.5	480.0	0.212

 

MRE Reconciliation

Reconciliation of drill results to date for the Bench Target relative to the 2026 MRE model suggest an overall grade increase relative to model-predicted grades. Figure 3.0 presents a summary of model-predicted grades compared to actual drilled grade for the eight (8) infill holes completed to date. All eight holes post-date the 2026 MRE model and therefore can be compared directly to model-predicted grades to measure the predictive accuracy of the model.

The results indicate significant variation on a hole-by-hole basis, ranging from a low of -38% (TM26-214) to a high of 100% (TM26-210). This is typical and within expected tolerances. On a weighted average basis, the comparison suggests that actual drilled grades are ~10% higher than the predicted modeled grade.

Similar results are observed for the project to date drilling which includes the exploration holes completed at the UV Target and the holes drilled along the eastern margin of the 2026 MRE optimized pit limit, targeting the large un-estimated portion of the model (Reference Figure 4.0). This data set also suggests that drilled grades are returning higher values than what is currently predicted by the 2026 MRE.

Both analyses exclude mineralization intersected outside the 2026 MRE model limit, specifically, the high-grade results intersected in holes TM26-210 and TM23-137X that extend beyond the base of the 2026 MRE model.

Figure 3.0 - Modelled Grade Versus Drilled Grade, Infill Drilling, 2026; Weighted by Interval Length

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/318446_figure3.jpg

Figure 4.0 - Modelled Grade Versus Drilled Grade, Exploration Drilling, 2026; Weighted by Interval Length

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/318446_figure4.jpg

Quality Assurance and Quality Control

Diamond drilling utilizes NQ diameter tooling. The core is received at the on-site logging facility where it is photographed, logged for geotechnical, physical properties and geological data. Samples are identified, recorded, and cut in half by wet diamond saw. Half the core is sent for assay at an accredited laboratory with the remaining half core stored on site. A standard sample length of 1.5 meters is typically employed, varying only at major lithological contacts.

Certified standards and blanks are randomly inserted into the sample stream and constitute approximately 10% of the sample stream. Certified standards and blank performance is monitored with any failures evaluated and investigated to determine if said failure is a result of error during submission. Any unexplained failures are identified and the five samples preceding and following the failure are re-assayed. Commencing in 2026, duplicate pulps are prepared at a rate of 1 in every 20 samples. The duplicate pulps are sent to a second independent analytical facility for analyses.

Activation Laboratories Ltd., Thunder Bay, Ontario, ISO/IEC 17025:2017 is the primary independent analytical service provider.

AGAT Laboratories, Thunder Bay, Ontario, ISO/IEC 17025:2017 is the secondary, independent analytical facility.

Samples are, received, dried, crushed to 80% passing 2.0 mm. A 250-gram sample is split and pulverized. Samples are analyzed for gold using a 30-gram lead collection fire assay fusion (FA) with an atomic absorption (AAS) finish. All assay results greater than 5.0 g/t Au are re-assayed using a gravimetric analysis. All assays greater than 30.0 g/t Au are re-assayed using screen metallics where a representative 1000-gram sample is split sieved at 149µm. Assays are performed on the entire +149 µm fraction and two splits of the -149 µm fraction. A final assay is calculated based on the weight of each size fraction.

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, 100%-owned Tower Mountain Property is beside the Trans-Canada highway, 40-km west of Thunder Bay, Ontario (pop. 120,000). Gold mineralization occurs in variably brecciated and altered rocks surrounding the calc-alkalic Tower Mountain Intrusive Complex ("TMIC"). Drilling to date has established an initial mineral resource parallel to the western contact of the intrusion representing approximately 25% of the TMIC halo.

The MRE has an effective date of January 19, 2026. A Technical Report titled "NI 43-101 Technical Report for the 2026 Mineral Resource Estimate on the Tower Mountain Project, Ontario, Canada." is available on the Company's website at www.thundergoldcorp.com and on SEDAR+ (www.sedarplus.ca) under the Company's Issuer profile.

The Report was prepared by Charley Murahwi, P.Geo., FAusIMM.; William Lewis, P.Geo., Tudorel Ciuculescu, P.Geo., and Richard Gowans, P.Eng., all of Micon International Limited ("Micon"), Toronto, Ontario, Canada. The Report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and CIM Definition Standards of Mineral Resources and Mineral Reserves.

The MRE is summarized as follows:

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:

1. The effective date of this MRE is January 19, 2026.
2. 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.
3. The MRE has been classified in the Indicated and Inferred categories. At this time, there are no Measured resources at the Tower Mountain Project.
4. The calculated gold cut-off grade is 0.19 g/t Au.
5. An average specific gravity (SG) value of 2.77 g/cm³ was used.
6. 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 of 3%.
7. The open pit used slope angles of 30° in overburden and 50° in fresh rock.
8. 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.
9. The open pit optimization used a re-blocked size of 10 m x 10 m x 10 m.
10. The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and Petroleum Standards and Practices.
11. Numbers have been rounded to the nearest million tonnes and nearest thousand ounces. Differences may occur in totals due to rounding.
12. 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.
13. 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.

The remaining 75% of the TMIC halo demonstrates similar geology, alteration, and geophysical signatures and is untested by drilling.

A second gold trend, identified in 2026, outcrops at surface and is continuously mineralized over a 100-metre width. This gold mineralization occurs within Timiskaming-type conglomerates that have been traced for over 5.0 kilometres along a southwest trend paralleling the Thunder Lake Fault. The Company believes both targets offer opportunities to materially increase the total resource through systematic drilling.

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 the Company's plans regarding exploring its mineral exploration properties; anticipated results of geophysical surveys, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318446

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Thunder Gold's TM25-186/186X drilling intersect at Tower Mountain?

The combined hole intersected 411.0 metres averaging 0.513 grams of gold per tonne between 90.0 and 501.0 metres. The final 19.5 metres averaged 0.523 grams per tonne, and the hole ended in mineralization. These are down-hole lengths; true width cannot be estimated.

When does Thunder Gold expect results from the Tower Mountain airborne survey?

Initial results from the 285 line-kilometre survey are expected by November 15, 2026. Survey completion is planned by October 31, 2026, ahead of the final drill holes planned for the 2026 field season.

What will Thunder Gold's Tower Mountain magnetotellurics survey cover?

The survey will cover the Tower Mountain Intrusive Complex and its surrounding magnetic-low halo outward for at least 500 metres. Flight lines will run east-west at 100-metre spacing. Thunder Gold believes electrical resistivity measurements may clarify alteration changes at depth and improve drill targeting toward the system's core.