Thunder Gold Purchases Freehold Patent in Shebandowan Greenstone Belt, Ontario

13:30 Uhr  |  Newsfile

Thunder Bay, April 16, 2026 - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") is pleased to announce it has purchased 100% ownership of a freehold patent (the "Halow Patent"), adjacent to the Company's flagship Tower Mountain Property in the Shebandowan Greenstone Belt, 40 kilometres west of the international port city of Thunder Bay, Ontario (Reference Figure 1).

Wes Hanson P.Geo., President and CEO states: "Our 2025 fall fieldwork, funded in-part, by the Ontario Junior Exploration Program ("OJEP"), identified two anomalous gold trends near the Halow patent (Reference Figure 2). Rock sampling established a 100 to 150-metre wide, east-northeast (ENE) gold trend along a 700-metre strike length, consisting largely of Timiskaming conglomerate. Fifty-five (55) rock samples within the trend average 0.363 g/t Au. Approximately 50% of the rock sample population returned gold grades greater than 0.20 g/t Au (averaging 0.691 g/t Au), with a maximum sample value of 4.95 g/t Au. Soil geochemical results indicate multiple anomalies greater than 10 ppb Au within, and proximal to, the identified trend. The observed trend continues over 2.5 kilometres to the southwest, towards the Bateman Lake gold occurrence located within the recently optioned Electra Property (Reference Figure 1).

A second gold in soil anomaly, located 250 metres to the south, is defined by multi-station, gold in soil results greater than 25 ppb Au on the lines located along the Halow property boundary.

In February 2026, we decided to take advantage of the winter conditions and direct our remaining OJEP funds to drilling the ENE striking target immediately north of the Halow patent. A total of five holes (750 metres) were completed. Assays results are expected within a week. Four of the five drill holes intersected broad intervals (up to 100 metres) of distinctive, Timiskaming conglomerate with variable pyrite tenor ranging from trace to 10%. The remaining hole TM26-196 collared and remained in a weakly-mineralized, magnetic feldspar porphyry.

The Timiskaming conglomerate trend offers a second prospective target at Tower Mountain, enhancing our opportunity to define a Tier One gold discovery, augmenting the established resource potential surrounding the Tower Mountain Intrusive Complex, 80% of which remains unexplored."

Tower Mountain Property Highlights

• January 2026 Mineral Resource Estimate as summarized in Table 1;
• All-in discovery cost of C$3.95 per inferred resource ounce;
• Year-round paved highway access;
• 40 kilometres from the port of Thunder Bay, Ontario;
• Road, rail and hydro at property boundary;
• 15,000-metre resource definition drill program in progress.

Table 1. Tower Mountain Mineral Resource Estimate - January 19, 2026

Notes:

1. The effective date of this MRE is January 19, 2026.
2. Messrs. William Lewis, P.Geo., Charley Murahwi, P.Geo., FAusIMM, and Tudorel Ciuculescu, P.Geo. from Micon International Limited are the Qualified Persons (QPs) responsible for this MRE.
3. The MRE has been classified in the Indicated and Inferred categories. At this time, there are no Measured resources at the Tower Mountain Project.
4. The calculated gold cut-off grade is 0.19 g/t Au.
5. An average specific gravity (SG) value of 2.77 g/cm³ was used.
6. The MRE used economic assumptions for open pit mining. The following economic parameters were used for generating the cut-off grade: a gold price of US$3,000/oz, 80% recovery, open pit mining cost of US$3.0/t, processing costs of US$8.0/t, general and administration cost of US$3.5/t, transportation cost of US$2.5/oz of gold, and a royalty of 3%.
7. The open pit used slope angles of 30° in overburden and 50° in fresh rock.
8. The block model is orthogonal and has a parent block size of 5 m x 5 m x 5 m, with minimum sub-block size of 2.5 m x 2.5 m x 2.5 m.
9. The open pit optimization used a re-blocked size of 10 m x 10 m x 10 m.
10. The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and Petroleum Standards and Practices.
11. Numbers have been rounded to the nearest million tonnes and nearest thousand ounces. Differences may occur in totals due to rounding.
12. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration; however, it is reasonably expected that a significant portion of Inferred Mineral Resources could be upgraded into Indicated Mineral Resources with further exploration.
13. Micon QPs have not identified any legal, political, environmental, or other relevant factors that could materially affect the potential development of the mineral resources and of the estimate.

Figure 1 - Halow Patent - Shebandowan Greenstone Belt, Ontario, Canada

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/292775_73c6a38af4052b23_001full.jpg

Sources of Historical Information

Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 52A12SE0001 A Report on Geological, Geochemical and Physical Work Completed on the Conmee-Kwiatkowski Property, Conmee & Horne Townships, Thunder Bay Mining District, Andrew Tims, Hemlo Gold Mines Inc. 1996

Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 52A12SE0005 DDH LOG 97-1; DDH LOG 97-2; Appendix 4 Assay Certificates.

Reference Province of Ontario, Ministry of Energy and Mines, Assessment File Database, File 20000021502 Electra Nickel Property, Adrian, Conmee and Horne Townships, Ontario, Canada, R. Campbell, P.Geo., M. St-Pierre, P.Geo, May 10, 2023.

Figure 2 - Geochemical Compilation Plan - Halow Patent Area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/292775_73c6a38af4052b23_002full.jpg

Qualified Person

Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established by NI 43-101.

About the Tower Mountain Gold Property

The 100%-owned Tower Mountain Gold Property is located adjacent to the Trans-Canada highway, approximately 40-km west of Thunder Bay, Ontario. The 6,700-hectare property surrounds the largest, exposed, intrusive complex in the eastern Shebandowan Greenstone Belt where most known gold occurrences have been described as occurring either within, or proximal to, intrusive rocks. Gold at Tower Mountain is localized within extremely altered rocks parallel to the western contact of the intrusive center. Drilling has established anomalous gold extending out from the intrusive contact for over 500 metres along a 1,500-metre strike length, to depths of over 500 metres from surface. The remaining 75% of the perimeter surrounding the intrusion shows identical geology, alteration, and geophysical response, offering a compelling exploration opportunity.

About Thunder Gold Corp.

Thunder Gold Corp. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit: www.thundergoldcorp.com.

On behalf of the Board of Directors,

Wes Hanson, P.Geo., President and CEO

For further information contact:

Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com

Bryan Baritot, Investor Relations
IR@thundergoldcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. All statements, other than statements of historical fact, are forward-looking statements and are based on predictions, expectations, beliefs, plans, projections, objectives and assumptions made as of the date of this news release, including without limitation; anticipated results of geophysical drilling programs, geological interpretations and potential mineral recovery. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to the gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise any forward-looking statements, other than as required by applicable law, to reflect new information, events or circumstances, or changes in management's estimates, projections or opinions. Actual events or results could differ materially from those anticipated in the forward-looking statements or from the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292775