Thunder Mountain Gold, Inc. reports developments for a junior exploration company with base and precious metals interests in the western United States. The company’s principal asset is the South Mountain Mine in Owyhee County, Idaho, a historic zinc, silver, gold, lead and copper project, and it also owns the Trout Creek gold exploration project in Nevada.
Company news commonly covers South Mountain technical work and production-pathway evaluations, financing actions such as private placements, market-making arrangements, and governance matters including board roles, bylaw amendments and annual shareholder voting results. Updates also address agreements related to project funding and development planning.
Thunder Mountain Gold (THMG) reported 2026 drilling results from its South Mountain polymetallic project in Idaho, highlighting near-resource expansion potential and new district targets.
The 8,500-foot diamond core program focused on expanding the carbonate replacement massive sulfide resource and testing district-scale copper-gold porphyry targets. At the up-dip extension of the DMEA chimney, hole SM26-055 returned 22.47 meters grading 86 g/t silver with gold, copper, lead and zinc, including 10.15 meters at 141 g/t silver and 0.179 g/t gold, and subintervals up to 1.47% copper and 1.95% zinc. Hole SM26-057 cut 2.11 meters at 451 g/t silver and 1.51 g/t gold, plus 13.63 meters at 117 g/t silver.
Three step-out holes at the Kentucky Ridge target demonstrated about 80 meters of down-plunge continuity beneath a high-grade surface gossan, with mineralization remaining open at depth. Thunder Mountain Gold has invested approximately US$25 million in South Mountain and now controls roughly 13,061 acres with established underground infrastructure.
Thunder Mountain Gold (THMG) appointed Dr. Steven Osterberg as Senior Vice President of Exploration, effective immediately, and announced the departure of Chief Operating Officer Ron Espell.
Osterberg will lead exploration strategy, target generation, drilling programs, and resource-growth initiatives, supporting a renewed focus on advancing the South Mountain Project in southern Idaho and broader district-scale opportunities. South Mountain is an advanced-stage polymetallic development asset on private land about 70 miles southwest of Boise, with more than 8,000 feet of historic underground workings and about 4,000 feet of rehabilitated MSHA-compliant development. Thunder Mountain Gold has invested approximately US$25 million in the project since 2007 and expanded its land position to roughly 13,061 acres through purchases, claim staking, and leases, which the company describes as positioning South Mountain as a U.S. critical and precious metals growth asset.
Thunder Mountain Gold (OTCQB: THMG) closed a non-brokered private placement of 8,090,451 units at US$0.70 (CAD$1.00) per unit, raising gross proceeds of US$5,663,316 (CAD$8,090,451). Each unit comprises one common share and one-half warrant, with each whole warrant exercisable at US$1.00 (CAD$1.42) for 24 months.
According to Thunder Mountain Gold, proceeds will fund advancement of the South Mountain Project, including drilling, assaying, geophysical surveys and related administration. The company paid aggregate finder’s fees of US$66,563 (CAD$94,525) and issued 94,089 non-transferable finder warrants at US$1.00. The financing remains subject to final TSX Venture Exchange approval, and the securities are subject to U.S. resale restrictions and a four-month hold in Canada.
Thunder Mountain Gold (OTCQB:THMG, TSXV:THM) plans a shares-for-debt settlement. The board approved issuing up to 1,578,036 common shares at a deemed price of US$0.70 to settle about US$1,104,625 in compensation owed to its CEO and former service providers.
The CEO would receive 670,714 shares for US$469,500, a related party transaction under MI 61-101, using exemptions from valuation and minority approval. The transaction requires TSX Venture Exchange approval. Issued shares will be restricted securities, subject to a four‑month hold and U.S. and Canadian resale limitations.
Thunder Mountain Gold (OTCQB: THMG; TSXV: THM) approved a non-brokered private placement of up to 9,143,000 units at US$0.70 per unit, for gross proceeds of approximately US$6.4 million. Each unit includes one common share and one-half warrant exercisable at US$1.00 for 24 months.
Proceeds will fund drilling, assaying, geophysical surveys, and administration at the South Mountain Project. The financing, finder fees, and finder warrants require TSX Venture Exchange approval, and all securities will be subject to a four-month hold and U.S. resale restrictions.
Thunder Mountain Gold (OTCQB:THMG, TSXV:THM) launched its 2026 surface drill program at the South Mountain polymetallic project in Idaho. The initial 10,000-foot core campaign targets expansion of the carbonate replacement deposit resource and first tests of district-scale copper-gold MT/IP anomalies, including the Gold Breccia target.
The company highlights historic production of 53,642 tons and a current measured and indicated resource of 223,000 tons, plus a significantly expanded land package totaling about 13,061 acres around South Mountain.
Thunder Mountain Gold (OTCQB:THMG) secured a 20-year mineral lease with the Idaho Department of Lands covering about 3,675 acres adjacent to the South Mountain Property in Owyhee County, Idaho. The lease, effective March 1, 2026, expands the district-wide land position and supports exploration, development, and potential mining.
Approved by the Idaho State Land Board and signed May 20, 2026, it aligns with the company's focus on critical minerals and follows 2025 exploration work that identified encouraging porphyry potential and multiple high-priority targets.
Thunder Mountain Gold (OTCQB: THMG) amended its bylaws to lower shareholder meeting quorum requirements to one-third (1/3) of outstanding voting shares, effective prior to the annual meeting held January 28, 2026. Shareholders elected four directors and approved Assure CPA, LLC as auditor for the ensuing fiscal year.
The company reiterated its focus on its principal assets, including the South Mountain Mine and the Trout Creek gold exploration project in Idaho and Nevada-adjacent ground.
Thunder Mountain Gold (OTCQB: THMG; TSXV: THM) entered a market making services agreement with Independent Trading Group (ITG), effective April 1, 2025. ITG, a Toronto-based dealer member, will appoint an approved trader to provide market making on behalf of the company.
Key commercial terms: the company will pay ITG a monthly fee of CDN$6,000, funded from available cash and working capital. The initial term is one month with automatic monthly renewals and 30-day termination rights. Thunder Mountain Gold said it will evaluate the agreement's duration in early 2026. ITG holds no ownership or acquisition rights in the company.
Thunder Mountain Gold (TSXV: THM; OTCQB: THMG) announced that MFD Investment Holdings SA has entered an options review phase with Ocean Partners USA to evaluate near-term production pathways at the South Mountain mine.
Workstreams include metallurgical test work, toll-milling and direct-shipping evaluations, production sequencing, a scoping-level commercial/cash-flow review, and high-level logistics and permitting assessments. The program targets potential commencement in 2026, subject to metallurgical outcomes, commercial terms, permitting, and internal approvals; no production decision has been made.