Thunder Gold Intersects Continuous Gold Mineralization Averaging 0.407 g/t Au Over 336.0 Metres and 0.527 g/t Au Over 290.1 Metres at Tower Mountain, Ontario

Thunder Gold Corp. (TGOL) has released infill diamond drill results from the Bench Target at its Tower Mountain property, a 7,625-hectare, 100%-owned site located 40 km west of Thunder Bay, Ontario. The data comes from three holes reported as part of a 13-hole, 5,798.8-meter infill campaign that began on August 11, 2026.

Hole TM26-223 intersected 290.1 meters at 0.527 g/t gold from 3.9 meters to 294.0 meters, with an estimated true width of 159.7 meters. This interval includes 57.0 meters at 1.071 g/t gold, 28.5 meters at 0.643 g/t gold, and 27.0 meters at 0.923 g/t gold. Below the 294-meter mark, the hole returned 108.0 meters at 0.077 g/t gold, which is below the cutoff.

Holes TM25-188 and TM25-188X were combined, reporting 336.0 meters at 0.407 g/t gold from 3.0 meters to 339.0 meters, with an estimated true width of 184.8 meters. This interval includes 60.0 meters at 0.822 g/t gold and 117.0 meters at 0.532 g/t gold. The intersection was disrupted by two late barren dikes totaling 52.5 meters.

Hole TM26-219, drilled at the northern contact for exploration purposes, did not return a significant continuous interval. The best runs were 6.0 meters at 0.637 g/t gold and 4.5 meters at 0.431 g/t gold. The tail section from 129.0 to 252.0 meters measured 123.0 meters at 0.043 g/t gold. The release notes that the average grade compares unfavourably to the model predicted grade.

Of the 13 holes in the campaign, 12 carried continuously mineralized intervals at a 0.40 g/t cutoff, totaling 1.2 kilometers of mineralization. The length-weighted drilled grade is approximately 5% above the 2026 Mineral Resource Estimate (MRE) model. The cutoffs stated are 0.40 g/t gold for reporting the infill intervals and 0.190 g/t gold for the resource.

• TM26-223: 290.1 m @ 0.527 g/t Au from 3.9 m to 294.0 m, including 57.0 m @ 1.071 g/t Au, 28.5 m @ 0.643 g/t Au and 27.0 m @ 0.923 g/t Au; estimated true width 159.7 m; below the 294 m interval it returned 108.0 m @ 0.077 g/t Au (below cutoff).
• TM25-188/188X (combined): 336.0 m @ 0.407 g/t Au from 3.0 m to 339.0 m, including 60.0 m @ 0.822 g/t Au and 117.0 m @ 0.532 g/t Au; estimated true width 184.8 m; disrupted by two late barren dikes totalling 52.5 m.
• TM26-219 (exploration, northern contact): no significant continuous interval; best runs 6.0 m @ 0.637 g/t Au and 4.5 m @ 0.431 g/t Au; the 129.0–252.0 m tail is 123.0 m @ 0.043 g/t Au; the release states the average grade "compares unfavourably to the model predicted grade."

Thunder Gold Corp. (TGOL) has completed drilling aimed at infill and resource definition within the B-E trend, targeting Inferred blocks for conversion to Indicated ahead of the December 2026 Mineral Resource Estimate (MRE) update. The program was designed to confirm existing resource models rather than serve as a discovery or step-change.

The drilling results provided a solid confirmation of the resource grade, which sits at approximately 0.45–0.46 g/t. Hole TM26-223 returned 0.527 g/t, clearing the resource grade bar, while holes TM25-188 and TM25-188X returned 0.407 g/t, which is marginal. On a length-weighted basis, the program performed approximately 5% above the model.

At C$0.13 on October 23, 2026, the stock has round-tripped since its August 2026 high of C$0.20 and is trading near the lower end of its 52-week range, which saw a low of C$0.06 in late 2025. Instead, the results de-risk the conversion thesis for the upcoming MRE update.

Thunder Gold Corp. (TSXV: TGOL / OTCQB: TGOLF / FSE: Z25) is a pre-revenue exploration-stage gold company. Its flagship asset is the 7,625-hectare, 100%-owned Tower Mountain Property, located 40 km west of Thunder Bay, Ontario. The property is adjacent to the Trans-Canada Highway and has rail, road, and hydro access at its boundary.

Mineralization occurs in brecciated and altered rocks around the calc-alkalic Tower Mountain Intrusive Complex (TMIC). Only approximately 25% of the TMIC halo is drill-covered, leaving roughly 75% untested.

A mineral resource estimate effective Jan 19, 2026, reported Indicated resources of 34.5 Mt @ 0.46 g/t Au (514 koz) and Inferred resources of 211.1 Mt @ 0.45 g/t Au (3,053 koz). The company cites an All-In discovery cost of C$3.95/oz, with an enterprise value per resource ounce well below the peer average according to the Q3 deck.

The company holds secondary assets and stakes, including the Thunder Lake and Halow freehold patents, the optioned Electra Nickel Property (4,571 ha, 100% earn-in), and a 1.0% NSR retained on Seagull Lake. A second gold trend, identified as a Timiskaming conglomerate, has been traced over 5 km along the Thunder Lake Fault.

In the prior period, Q1-2027 operating expenses were C$400,378. Cash fell to C$3.6M from C$4.7M, with a net loss described as trifling on interest and grants. The company drilled 30 holes for 6,028 m in the quarter. FY2027 targets include 15,000 m of drilling, 50% Inferred to Indicated conversion, an updated MRE in Dec 2026, and a scoping study in Q2 2027. The company has no debt.