Thunder Gold Closes Financing
TSX.V: TGOL, FRA: Z25, OTCMKTS: TNMLF
THUNDER GOLD CLOSES FINANCING
Thunder Bay, Ontario January 17, 2023: Thunder Gold Corporation (formerly White Metal Resources Corp) (TSXV: TGOL) (FRA: Z25) (OTCMKTS: TNMLF) (“Thunder Gold” or the “Company”) further to its December 29, 2022 news release announcing the closing of a non-brokered flow-through private placement financing (the “Financing”) for aggregate gross proceeds of $1,164,004.80, the Company announces that it has payed cash finders fees totaling $81,520.24 and issued 1,358,671 broker warrants exercisable at $0.06 for 2 years in relation to the Financing.
Further, the Financing was effected with 1 insider, for a total of 250,000 FT Units or $15,000, such insider subscription being a “related party transaction” as that term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.
All securities issued pursuant to the Financing are subject to a 4-month hold.
About the Tower Mountain Gold Property
The Tower Mountain Gold Property is located 5 kms off the Trans-Canada highway, 50 km west of Thunder Bay, Ontario and 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 drilling to date 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 1500-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, making it a highly desirable exploration target.
Mineralization hosted by established operations and other exploration projects is not necessarily indicative of mineralization hosted on the Company’s Property.
About Thunder Gold Corp.
Thunder Gold Corporation, formerly White Metal Resources. 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, President and CEO
For further information contact:
Wes Hanson, CEO (647) 202-7686 [email protected]
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The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."