Thunder Gold Announces Warrant Exercise for CDN$1,085,416
Thunder uses warrant exercise proceeds to fund the Tower Mountain resource definition drill program.
Thunder Gold Corp. announced the exercise of 10,229,163 share purchase warrants at $0.10 and 1,041,665 broker compensation options at $0.06. These exercises generated aggregate gross proceeds of CDN$1,085,416 to strengthen the balance sheet. The instruments originated from a private placement on January 24, 2025.
The company confirmed it is on track to commence a resource definition drill program at the Tower Mountain property the week of July 28, 2026. Drilling is scheduled to conclude by the end of September 2026, preceding an updated Mineral Resource Estimate (MRE). The immediate objective is to convert Inferred Resources to Indicated Resources to increase geological confidence. Management highlighted that 75% of the intrusive complex contact remains untested and a second gold trend was identified in 2026.
Thunder Gold Corp. (TGOL) completed a routine financing event involving the exercise of warrants and options, generating approximately $1.09 million in proceeds. These funds are designated to support the company’s planned resource definition drilling program scheduled for July through September 2026. The announcement confirms that the drilling schedule remains on track, consistent with timelines previously communicated in the company’s March 2026 financing and April 2026 updates. While the transaction results in dilution from the exercised warrants and options, such capital raising is standard practice for exploration-stage companies funding their operations. The update serves as a routine operational and capital report, aligning with prior expectations without introducing new market-moving information.
Thunder Gold Corp. (TGOL) is an exploration-stage gold company focused on the 100%-owned Tower Mountain Property, located 40 km west of Thunder Bay, Ontario. The flagship project hosts a 2026 Mineral Resource Estimate of 34.5 Mt Indicated @ 0.46 g/t Au (514,000 oz) and 211.1 Mt Inferred @ 0.45 g/t Au (3,053,000 oz). The resource is optimized for an open-pit mine with a waste-to-ore strip ratio of 1.8:1 and an all-in discovery cost of C$3.95/oz.
The company is advancing toward an updated MRE and an initial Scoping Study by Q4 2026. The property benefits from proximity to highway, rail, hydro, and a skilled local workforce.