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

Thunder Gold Corp. (TGOL) reported that infill hole TM25-186X extended the 2025 hole TM25-186 by 252.0 m, resulting in a combined Bench Target intersection of 90.0 m to 501.0 m, or 411.0 m, averaging 0.513 g/t Au. The full combined hole (TM25-186/186X) ran from 3.0 m to 501.0 m, totaling 498.0 m and averaging 0.440 g/t Au, with mineralization present from surface to the end of the hole.

TM25-186X alone, representing the new extension, assayed from 249.0 m to 501.0 m, or 252.0 m, averaging 0.443 g/t Au. It terminated in mineralization between 481.5 m and 501.0 m, a 19.5 m interval averaging 0.523 g/t Au. The company stated that 86% of assays returned greater than 0.10 g/t Au, with two narrow barren-to-low-grade runs of up to 12.0 m interrupting otherwise continuous mineralization.

True width is explicitly stated as "Unknown" because the hole was drilled sub-parallel to the northern Bench-3738-Ellen (B-E) contact and never exited the mineralized rock. The company noted that the hole stayed in mineralization approximately 75 m beyond where the contact was interpreted.

Separately, Thunder Gold contracted Expert Geophysics Surveys Inc. for a 285 line-km airborne MobileMT (magnetotelluric) survey over the Tower Mountain Intrusive Complex and its halo. The survey, flown with 100 m line spacing, is scheduled to be completed by Oct 31, with initial results expected by Nov 15, 2026.

In a reconciliation against the January 19, 2026 MRE, eight post-MRE infill holes averaged approximately 10% higher grade than the model. However, hole-by-hole variation was wide, ranging from -38% for TM26-214 to +100% for TM26-210.

Thunder Gold Corp. (TGOL) released an infill drilling update that confirms its January 2026 Mineral Resource Estimate (MRE) model, with a weighted-average drilled grade approximately 10% higher than the existing resource. The results, supported by geophysics, facilitate the conversion of Inferred resources to Indicated status ahead of the scheduled December 2026 MRE update. The release does not alter the scale, grade, or probability of the deposit.

The company remains a pre-revenue explorer with a large, low-grade resource of approximately 3.57 moz and cash holdings of roughly C$3.6 million. Prior-period context indicates that for the quarter ending July 31, 2027, operating expenses were C$400,000, with a net loss near breakeven driven by interest income. Financing inflows of C$1.13 million resulted from warrant exercises, and the company carries no debt. The company’s operational thesis remains dependent on financing, which carries dilution risks.

Market reaction has been muted, with the stock trading at C$0.15 after rallying from approximately C$0.10 in early July to C$0.20 in mid-August on the summer infill campaign. The current price reflects a round-trip of roughly one-third of that move, suggesting the market assumes the resource grade is real rather than pricing in a repeat of the best August hole. The company’s next catalyst is expected to be the mid-November metallurgical test (MT) dataset.

Thunder Gold Corp. (TSXV: TGOL; OTCQB: TGOLF; FSE: Z25) is a pre-revenue gold explorer and developer whose sole material asset is the 100%-owned 7,625-hectare Tower Mountain Property. Located approximately 40 km west of Thunder Bay, Ontario, the property sits adjacent to the Trans-Canada Highway with rail and hydroelectric power nearby.

The deposit is situated along the western contact of the Tower Mountain Intrusive Complex. As of January 19, 2026, the Mineral Resource Estimate (MRE) defined an Indicated resource of 34.5 million tonnes at 0.46 g/t Au for 514,000 ounces of gold, and an Inferred resource of 211.1 million tonnes at 0.45 g/t Au for 3,053,000 ounces of gold. These figures are based on a 0.19 g/t Au cutoff, a strip ratio of approximately 1.8:1, and assume an optimized open pit. Only about 25% of the intrusive halo has been drill-tested, and a second prospective trend in the Timiskaming conglomerate, measuring approximately 5 km long and 100 m wide, was identified in 2026.

The company’s footprint has expanded through the Electra option (4,571 hectares), the Thunder Lake acquisition (625 hectares), and the Kons/Halow patents. The Electra deal was signed in April 2026, followed by the Thunder Lake acquisition in June 2026.

The leadership team includes CEO and President Wes Hanson P.Geo. and CFO David Speck. The board of directors includes Glenn Nolan and Donovan Bailey. According to an early-warning report dated July 31, 2026, Michael Wekerle holds approximately 10.46% of the company, a figure that has been partially diluted.