Thunder Gold Intersects Continuous Gold Mineralization Averaging 0.456 g/t Au Over 451.5 Metres at Tower Mountain, Ontario

Thunder Gold Corp. (TGOL) reported drill results from hole TM26-222, an infill hole on the B-E Trend. Drilled from south to north with a dip of -54.3° to a total depth of 600 m, the hole returned a headline contact-to-contact interval of 451.5 m @ 0.456 g/t Au from 60.0 m to 511.5 m, with an estimated true width of 245.0 m.

Internal sub-intervals at a 0.40–1.00 g/t cut-off include: - 39.0 m @ 0.880 g/t (157.5–196.5 m) - 28.5 m @ 1.107 g/t (294.0–322.5 m) - 90.0 m @ 0.671 g/t (235.5–325.5 m at 0.40) - 103.5 m @ 0.124 g/t (496.5–600.0 m)

The company noted that the actual drilled grade of TM26-222 is within 2 mg (0.002 g/t) of the model-predicted grade. Across the aggregate program, 14 infill holes on ~100 m centres have intersected 4.4 km of semi-continuous mineralization averaging 0.454 g/t Au. Reconciliation across 14 post-MRE infill holes shows hole-by-hole variance running from -73% (TM26-219) to +97% (TM26-210), with a length-weighted average actual grade 5% above the 2026 MRE model.

The updated MRE has been pushed from December 2026 to February 2027 to incorporate approximately 5,000 m of additional November–December drilling. Additionally, the company granted 2.0M options at a $0.15 strike with a 24-month term to directors and contractors.

Thunder Gold Corp. (TGOL) has completed an infill and resource-definition drill hole within the existing optimized pit shell, aiming to convert Inferred mineral resources to Indicated at the modeled grade. The company reported that the results matched the model with high precision, falling within 2 mg of the model and within 5% across 14 holes. While the materiality of the exercise lies in de-risking conversion rather than expanding the system beyond the modest ~100 m northern-contact observation, the data supports the eventual conversion of the resource model.

The announcement coincides with a shift in market sentiment. The stock peaked at C$0.20 in late August following the TM26-210 intercept of 661.5 m @ 0.554, but has since round-tripped to C$0.13, representing a decline of approximately 35% from the peak. This price point sits near the lower-middle of the C$0.06–0.20 range. The market is no longer pricing in the August anchor, and no forward drilling is viewed as a mandatory benchmark at this level.

The primary new content from the update is the confirmation of the resource grade and a delay in the Mineral Resource Estimate (MRE) to February 2027, which pushes back the next major catalyst. The result serves as a clean confirmation of the model but is accompanied by a two-month delay in catalysts and another batch of option dilution.

Thunder Gold Corp. (TSXV: TGOL; OTCQB: TGOLF; FSE: Z25) is a pre-revenue gold explorer with no debt and approximately C$3.6 million in cash as of Q1-2027. The company has approximately 319–327 million shares outstanding, resulting in a book value of roughly C$0.05 per share.

The company’s flagship asset is the 100%-owned Tower Mountain Property, a 7,625-hectare site located 40 km west of Thunder Bay, Ontario. The property features highway, rail, and power access, and the whole ore is net-acid-consuming, which simplifies permitting.

A mineral resource estimate effective January 19, 2026, defined an Indicated resource of 34.5 million tonnes at 0.46 g/t gold for 514,000 ounces, and an Inferred resource of 211.1 million tonnes at 0.45 g/t gold for 3,053,000 ounces. These figures were calculated using a cut-off of 0.19 g/t, a gold price of US$3,000/oz, an 80% recovery rate, and a 1.8:1 strip ratio. The resource represents approximately 25% of the TMIC halo, leaving 75% untested.

Thunder Gold also holds additional ground through an option on the Nickel property, which is contiguous, and the Thunder Lake acquisition. The company has traced a second Timiskaming-conglomerate gold trend for approximately 5 km.

The company is currently in the resource definition stage, targeting a 50% conversion from Inferred to Indicated resources in fiscal year 2027. A scoping study has been deferred to Q2 2027.