Thunder Gold Corp. announce a 4,000-metre diamond drill program at the Tower Mountain Gold Property, located 50-km west of Thunder Bay, ON. Abitibi Geophysics (Val d'Or, QC), have completed the previously announced 4.0 km2 Distributed Array ("DasVision") Induced Polarization ("IP") survey, expanding the IP footprint to the north, east and south of the TMIC, interpreted to be the potential source of gold mineralization at Tower Mountain.

The Company announced that it plans to resume diamond drilling at Tower Mountain in February, 2023. A fully-funded, Phase One drill program totaling 4,000-metres is currently being finalized. The Company's main objectives for 2023 are: 1. extend the limits of known mineralization through step out drilling; 2. demonstrate potential for discovery of higher-grade gold mineralization; and 3. demonstrate potential for additional mineralization elsewhere within the assembled claim package.

Gold mineralization is confirmed to occur throughout the host volcanic-volcanoclastic sequence as well as within certain phases of the TMIC. Alteration is difficult to quantify visually and review of the geochemical data is ongoing. To date, the best correlation to gold grade is sulphide content which suggests a 1:1 relationship.

Two independent geophysical consultants have completed inversions of the 2021 IP dataset. The results are essentially identical with both interpretations highlighting a large, strong IP chargeable response located adjacent to the Bench target and extending in a northerly direction to the east of the UV deposit. The Company believes that the chargeable anomalies correlate to increased pyrite content which, in turn, correlates to elevated gold grade.

This can be observed along the southwestern boundary of the TMIC where drilling has returned anomalous gold grades at the Bench, Ellen, A and 110 targets, all of which lie within a 20 mV/V chargeable response. Eighty-five (85) drill holes totalling 16,528 metres currently define the four targets. The Bench, Ellen and A targets all lie immediately adjacent to and just outside the 40 mV/V chargeable response.

To date, only parts of five holes penetrate the 40 mV/V response, all of which are attributed as Bench drill holes, located in the southwestern corner of the chargeable feature. Table 1.0 summarizes the drilled intercepts for these five holes by cut-off grade. compares gold grades at various cut-off grades extracted from the 20 and 40 mV/V chargeable anomalies.

Diamond drilling utilizes NQ diameter tooling. The core is received at the on-site logging facility where it is, photographed, logged for geotechnical and geological data and subjected to other physical tests including magnetic susceptibility analysis. Samples are identified, recorded, split by wet diamond saw, and half the core is sent for assay with the remaining half stored on site.

A standard sample length of 1.5 meters is employed. Certified standards and blanks are randomly inserted into the sample stream and constitute approximately 5-10% of the sample stream. Samples are shipped to the Activation Laboratories Ltd. facility in Thunder Bay, ON where sample preparation and analyses are completed.

All samples are analyzed for gold using a 30-gram lead collection fire assay fusion with an atomic adsorption finish. The Tower Mountain Gold Property is located 5-km off the Trans-Canada highway, 50-km west of Thunder Bay, Ontario. The property lies within the late Archean Shebandowan greenstone belt, an emerging gold district in northwestern Ontario.

The property consists of unpatented and patented lands totalling 1,968 ha. Exploration to date suggests the property offers a large gold endowment. Gold mineralization is widespread, and diamond drilling has identified low-grade gold mineralization extending outward for at least 500-meters from a central alkalic intrusion known as the Tower Mountain Intrusive Complex.

Drilling has established persistent gold grades from 0.1 to 1.0 g/t along a 1,500- meter-long x 500-meter wide x 500-meter deep block of volcanic-volcanoclastic rocks immediately west and adjacent to the central alkalic intrusion. The remaining 6,000 meters of strike length surrounding the intrusion are untested. Tower Mountain shows many of the classic indicators of being an Intrusion Related Gold Deposit, which is a highly desirable exploration target.