Thunder Mountain Gold, Inc. Secures Additional US$1,200,000 (CAD$1,676,000) for South Mountain Project Exploration Program
Thunder Mountain Gold, Inc. Secures
Additional US$1,200,000 (CAD$1,676,000) for
South Mountain Project Exploration Program
Boise, Idaho--(Newsfile Corp. - May 20, 2025) - Thunder Mountain Gold, Inc. (OTCQB: THMG) (TSXV:
THM) (the "Company") announces the successful completion of a non-brokered private placement on
May 16, 2025, raising US$1,200,000 (CAD$1,676,000) through the sale of 10,000,000 units at
US$0.12 (CAD$0.17) each.
Each unit consists of one common share and one-half warrant, exercisable at US$0.18 (CAD$0.25) for
a two-year term. The securities were sold exclusively to accredited investors, and no placement or
brokerage fees were incurred. In aggregate, the Company issued 10,000,000 shares and 5,000,000
warrants. There were no broker fees paid.
The Company plans to use the proceeds from the private placement to fund exploration at the South
Mountain Project in Idaho, and Trout Creek Project in Nevada, and for general working capital. The
proceeds will advance the South Mountain Project, the Company's flagship asset, funding ongoing
development activities and administrative costs to enhance the project's value.
"
We appreciate the continued support from our investors, which reflects confidence in the
potential of the South Mountain Project,"
commented Eric T. Jones, President and CEO of Thunder
Mountain Gold, Inc.
"This funding will provide further resources required to move forward with
critical development initiatives and continue adding value for our shareholders."
Terms of the Offering:
Total Raised: US$1,200,000 (CAD$1,676,000)
Unit Price: US$0.12 (CAD$0.17)
Includes:
1 common share
1/2 warrant (exercise price: US$0.18, valid for two years)
The securities offered in this private placement are subject to applicable exemptions under U.S. and
Canadian securities laws and cannot be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The shares, the warrants and any shares issued
pursuant to exercise of the warrants are "restricted securities" under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), and subject to a six month hold period prior to being
eligible for resale under the U.S. Securities Act.
In addition, the shares, the warrants and any shares
issued pursuant to exercise of the warrants are subject to a four-month hold period under Canadian
securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities
in any jurisdiction where such offer, solicitation, or sale would be unlawful.
Regarding Thunder Mountain Gold, Inc.
Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and
precious metals projects in the western U.S. The Company's principal asset is The South Mountain
Mine, a historic former Anaconda Mining development of zinc, silver, gold, lead, and copper, located on
private land in Owyhee County Idaho. Thunder Mountain Gold also owns 100% of the Trout Creek Project
- a gold exploration project located along the western flank of the Shoshone Mountain Range in the
Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a Barrick and Newmont Gold,
Inc. joint venture. For more information on Thunder Mountain Gold, please visit the Company's website at
www.Thundermountaingold.com
.
The South Mountain Project
The South Mountain Mine is a polymetallic development project containing high-grade zinc, silver, gold,
and copper, and is located on private land approximately 70 miles southwest of Boise, Idaho. The
Project is on private land, permitting has been, and should continue to be a clear-cut process. The
Project was intermittently mined from the late from 1940s to the late 1960s, most notably by Anaconda
Mining, with over 4,000 feet of underground workings that that have been rehabilitated, re-engineered,
and MSHA compliant. Thunder Mountain Gold Inc. purchased and advanced the project from 2007
through Present, with expenditures into the project of approximately US$25 million. Historic test mining
and processing at the Project has mostly come from high-grade CRD and skarn zones that remain open
at depth and along strike. According to historical smelter records, approximately 53,642 tons of
mineralized material have been mined and direct shipped to the smelter, with average grades;
14.5%
Zn, 10.6 o.p.t. Ag (363.42 g/t Ag), 0.058 o.p.t. Au
(
1.98 g/t Au), 1.4% Cu, and 2.4% Pb
were realized
(See SK-1300 Technical Resource Statement, and NI 43-101 Technical Report: Updated Mineral
Resource Estimate for the South Mountain Project, dated December 31, 2023, and December 15,
2023, respectively. More details are available at
www.thundermountaingold.com
,
and at
www.SEC.gov
,
and
www.sedar.com
).
Forward-Looking Statements
This press release contains forward-looking statements that are based on the beliefs of management
and reflect the Company's current expectations. The forward-looking statements in this press release
include statements with respect to the terms and use of proceeds of the Private Placement, the ability of
the Company to complete the Private Placement and the impact of the Private Placement on the
Company.
Generally, forward-looking statements can be identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", "believes" or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or
the negative connotation thereof.
The forward-looking statements are based on certain assumptions,
which could change materially in the future, including the assumption that the Private Placement will be
completed. By their nature, forward-looking information involves known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by the forward-looking
information. Such factors include the risk of completion of the Private Placement and uncertainties
affecting the expected use of proceeds. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, investors should not place undue reliance on forward-looking information.
Forward-looking information is provided as of the date of this press release, and the Company assumes
no obligation to update or revise them to reflect new events or circumstances, except as required in
accordance with applicable laws.
Cautionary Note to Investors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Thunder Mountain Gold Inc.
Eric T. Jones
President and Chief Exécutive Officer
(208) 658-1037
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/252734