Thesis starts environmental assessment at Lawyers-Ranch

Executive Summary

• Thesis Gold Inc. has officially commenced the environmental assessment (EA) and permitting process for its 100%-owned Lawyers-Ranch gold-silver project in British Columbia.
• The company submitted an Initial Project Description (IPD) and engagement plan to the British Columbia Environmental Assessment Office (EAO), and an IPD with a plain language summary to the Impact Assessment Agency of Canada (IAAC).
• The project, located in the Toodoggone mining district, has strong economic fundamentals outlined in a recent prefeasibility study, including a 54.4% after-tax IRR and a $2.37 billion after-tax NPV.

Key Details

• Permitting Milestone: Submission of the Initial Project Description (IPD) to both provincial (EAO) and federal (IAAC) authorities marks the formal start of the EA and permitting phase.
• Project Location: Located approximately 450 km north-northwest of Prince George and 275 km north of Smithers, British Columbia.
• Indigenous Engagement: The project overlaps with the traditional territories of the Kwadacha Nation, Tsay Keh Dene Nation, Takla Nation, and Tahltan Nation. These three nations (Kwadacha, Tsay Keh Dene, and Takla) have become shareholders in Thesis Gold following a recent financing, aligning their interests with the project's success.
• Economic Metrics (Prefeasibility Study):
  • Internal Rate of Return (IRR): 54.4% (after-tax)
  • Net Present Value (NPV): $2.37 billion (after-tax, 5% discount rate)
  • Metal Price Assumptions: $2,900/oz gold and $35/oz silver.
• Future Plans: Thesis Gold plans to initiate a feasibility study in 2026 to further advance and derisk the project.

Notable Quotes

• "The submission of the IPD marks a key milestone in advancing the Lawyers-Ranch project through the permitting process and reflects our shared commitment to developing a project that delivers lasting benefits for all stakeholders." — Dr. Ewan Webster, President and CEO