Thesis Gold Inc. announced an update on recent assay results from the 2022 summer drill program from the Bonanza-Ridge Zone at the Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Drillhole 22BNZDD008 represents the shallower portion of an extended zone of mineralization confirmed by the results of adjacent hole 22BNZDD003, which returned a similar broad interval of mineralization. Drillholes 22BNZDD008 and 22BNZDD003, as well as 22RDGDD001-22RDGDD004 were part of a larger effort in the 2022 drill program to extend the mineralized domains identified in historic drilling and to test the continuity of mineralization between the Bonanza and Ridge zones.

Early assay results as well as visual confirmation of analogous intersects exhibiting characteristics typical of the known mineralized zones (pending assay results) have extended the total mineralized northeast oriented strike to >660 m and demonstrated that the Bonanza and Ridge zones form part of a larger interconnected mineralized system. The positive results from the Bonanza and Ridge zones validates Thesis Gold's comprehensive exploration strategy that includes targeting major NW-NE trending fault structures by identifying anomalous geophysical magnetic lows (Figure 2), which are strongly associated with mineralization at the Ranch Gold Project. Broad sections of the mineralizing fault structures remain untested, which contributes to the significant upside potential of the Ranch Gold Project.

The successful 2022 summer drill program at Ranch has officially been completed, with a final meterage of 32,014 m from 119 drill holes, combined with the spring program this brings the total for the year to 36,491 m. The early results from the summer program clearly demonstrate the scalability and major resource potential of the Ranch Project and provide a strong foundation for future exploration programs.