Thunder Gold Reports 404.5 Metres of Continuous Gold Mineralization Averaging 0.453 g/t Au in Extension of TM23-137

Thunder Gold Corp. (TGOL) reported diamond-drill results from hole TM23-137X at the Bench Target on the Tower Mountain Property in Ontario. The headline interval covers 404.5 m averaging 0.453 g/t Au, representing the combined TM23-137 / TM23-137X interval from 297.5 m to 702.0 m downhole. The actual new extension hole, TM23-137X, was drilled from the end of the 2023 parent hole TM23-137 and returned 294.0 m averaging 0.418 g/t Au from 408.0 m to 702.0 m.

The release also highlights 277.5 m averaging 0.436 g/t Au, excluding the first 16.5 m of the extension that averaged only 0.046 g/t and 0.169 g/t. The hole terminated in mineralization with 27.0 m averaging 0.830 g/t Au, including 15.0 m averaging 1.128 g/t Au. Management stated the hole extended mineralization 150 m vertically below the current resource model and optimized pit limit. The release frames this as the third deep hole in a row to extend the system and suggests grade may be strengthening with depth. True width could not be estimated because the hole did not exit the mineralized target.

Thunder Gold Corp. (TGOL) is a pre-revenue junior explorer holding a large low-grade resource of approximately 3.57 million ounces of contained gold in Indicated and Inferred categories. At a recent share price of C$0.18, the company is valued at approximately C$57 million.

The latest drill hole serves as a resource-definition and depth-extension result. It confirms continuity and supports the planned Q4 2026 Mineral Resource Estimate update, though it does not itself change the resource, economics, or project scale. Against the resource grade of about 0.45 g/t Au, the result is in line. It is not a materially disappointing grade and extends the system at depth, ending with stronger mineralization.

The market has already re-rated from around C$0.06 in late 2025/early 2026 to C$0.18-0.20 by August-September 2026 on the resource estimate and the earlier deep-hole results.

Thunder Gold Corp. is a Canadian junior gold explorer listed on the TSXV. Its flagship asset is the 100%-owned Tower Mountain Property, a 7,625-hectare site located approximately 40 km west of Thunder Bay, Ontario. The property benefits from highway, rail, and hydro access near Thunder Bay. Management is led by CEO Wes Hanson, P.Geo.

The company also holds or has optioned additional ground, including the Thunder Lake Property and Electra Property, and has identified a second Timiskaming conglomerate gold trend.

A Mineral Resource Estimate effective January 19, 2026, outlines the following resources based on a cut-off grade of 0.19 g/t Au, a gold price assumption of US$3,000/oz, and a recovery assumption of 80%:

• Indicated: 34.5 Mt at 0.46 g/t Au for 514,000 oz.
• Inferred: 211.1 Mt at 0.45 g/t Au for 3,053,000 oz.

Latest reported financials show no revenue, approximately C$4.72 million in cash as of April 30, 2026, and a going-concern flag.