Thesis Gold Continues to Derisk Lawyers-Ranch Through Drilling
Thesis Gold Inc.
1075 West Georgia, Suite 1050
Vancouver, BC
Canada, V6E 3C9
Thesis Gold Continues to Derisk Lawyers-Ranch Through Drilling
Vancouver, British Columbia – November 17 , 2025 – Thesis Gold Inc. (" Thesis" or the " Company")
(TSXV: TAU | WKN: A3EP87 | OTCQX: THSGF) is pleased to announce assay results from the 2025 drill
program at Lawyers, part of the 100% owned Lawyers -Ranch gold-silver Project, located in the prolific
Toodoggone Mining District of British Columbia. This year’s work focused on geotechnical, hydrological,
and metallurgical studies to support the ongoing Prefeasibility Study (“PFS”) and to advance the technical
work required for future feasibility -level designs, reflecting the Company’s continued commitment to de -
risking the Project. Th is program builds on strong economics outlined in the 2024 Preliminary Economic
Assessment (the “2024 PEA”; Church et al., October 16, 2024), where a base price of US$1,930 gold and
US$24 silver demonstrated robust economics with an after -tax NPV (5%) of C$1.28 billion, an IRR of
35.2%, and a 2.0-year payback period (see September 5, 2024 news release).
Key Highlights:
▪ Advancing Towards Feasibility Study (FS) and Environmental Assessment (EA) Data
Acquisition:
▪ 2,772 metres (m) of drilling focused on geotechnical, hydrogeological, and
metallurgical studies at Cliff Creek and Dukes Ridge (Table 1; Figure 1).
▪ Multipurpose Geotechnical Drilling confirms a robust deposit model with high -grade
gold and silver:
▪ Drillhole 25GTDD002 intersected:
▪ 12.00 m of 2.28 grams per tonne gold (g/t Au) and 16.71 g/t silver (Ag), or
2.49 g/t gold equivalent (AuEq **) beginning at 294.50 m downhole
including 7.50 m of 3.17 g/t Au and 20.08 g/t Ag, or 3.42 g/t AuEq** and,
▪ A lower interval , beginning at 339.77 m downhole , of high-grade silver
measuring 2.98 m of 3.53 g/t Au and 107.63 g/t Ag , or 4.87 g/t AuEq **,
including 1.48 m of 9.75 g/t Au and 307.84 g/t Ag, or 13.60 g/t AuEq**
▪ Drillhole 25GTDD003 intersected:
▪ 3.10 m of 5.12 g/t Au and 210.39 g/t Ag, or 7.75 g/t AuEq**, and
▪ 4.04 m of 2.52 g/t Au and 22.58 g/t Ag, or 2.79 g/t AuEq**
▪ Drillhole 25GTDD005 (Figure 2) intersected:
▪ 2.11 m of 4.14 g/t Au and 78.58 g/t Ag, or 5.12 g/t AuEq ** beginning at
22.00 m downhole,
▪ 21.50 m of 1.92 g/t Au and 15.88 g/t Ag, or 2.11 g/t AuEq** beginning at
96.75 m downhole including 4.25 m of 6.28 g/t Au and 51.12 g/t Ag, or 6.92
g/t AuEq, and
▪ 43.75 m of 1.48 g/t Au and 26.86 g/t Ag, or 1.81 g/t AuEq ** beginning at
383.50 m downhole including 4.47 m of 5.43 g/t Au and 6.63 g/t Ag, or 5.51
AuEq**
Ewan Webster, President and CEO , shared, “ The work objective at Lawyers this year was to complete
critical-path data collection to prepare Thesis for more advanced engineering studies beyond the completion
of the PFS later this year. Over the years, our technical team developed a strong understanding of project
objectives, allowing us to design programs that balance current and future project needs to maintain steady
progress on de-risking.”
Thesis’s 2025 Lawyers drill program was designed to help position the Company for a future FS with seven
holes designed for geotechnical, hydrogeological, and metallurgical investigations. Drilling target ed
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conceptual pit walls and major faults modelled within the deposit that both control mineralization and have
the potential to affect pit design. Detailed geotechnical logging was completed on all holes, while televiewer
and hydrogeological data were collected from six and five holes, respectively. The resulting datasets will
inform feasibility-level engineering studies and may be incorporated into environmental modelling to
support the Environmental Assessment process.
In addition to informing engineering and environmental studies, each hole also provided an opportunity to
test model led fault zones and mineralization domains . Several gold-silver intervals consistent with the
Company’s geological models were intersected, further validating Thesis’s understanding of the deposit .
Although mineralization was not the primary focus of the program, results continue to reinforce the team’s
confidence in the resource model and overall deposit geometry.
Table 1. Assay Results from 2025 Lawyers Drilling.
Hole ID From (m) To (m) Interval*
(m) Au (g/t) Ag (g/t) AuEq**
(g/t)
25GTDD001
218.50 254.00 35.50 0.48 3.59 0.53
incl. 223.50 224.45 0.95 1.49 14.85 1.68
and incl. 248.05 250.73 2.68 0.97 2.30 0.99
25GTDD002
212.27 215.00 2.73 0.96 41.44 1.48
and 251.64 253.18 1.54 1.98 5.95 2.05
and 273.44 287.50 14.06 1.03 39.99 1.53
incl. 276.00 278.90 2.90 3.03 119.70 4.52
and incl. 281.75 283.25 1.50 1.59 41.37 2.10
and 294.50 306.50 12.00 2.28 16.71 2.49
incl. 299.00 306.50 7.50 3.17 20.08 3.42
and incl. 299.00 300.50 1.50 11.38 29.10 11.74
and incl. 300.50 302.00 1.50 5.15 47.63 5.75
and 316.78 319.65 2.87 1.42 79.06 2.41
incl. 318.25 319.65 1.40 3.12 209.87 5.75
and 339.77 342.75 2.98 3.53 107.63 4.87
incl. 339.77 341.25 1.48 9.75 307.84 13.60
25GTDD003
3.26 11.00 7.74 0.36 11.84 0.51
incl. 9.55 11.00 1.45 0.69 36.82 1.15
and 71.92 82.00 10.08 0.61 14.10 0.79
incl. 75.00 76.00 1.00 2.57 55.32 3.26
and 191.58 194.68 3.10 5.12 210.39 7.75
incl. 192.48 193.50 1.02 10.00 467.00 15.84
and 204.43 206.90 2.47 1.45 31.93 1.85
incl. 205.76 206.90 1.14 2.73 58.47 3.46
and 214.14 218.18 4.04 2.51 22.58 2.79
incl. 215.57 216.87 1.30 6.33 38.34 6.81
25GTDD004
6.95 18.60 11.65 0.76 1.85 0.78
incl. 9.97 11.35 1.38 2.22 2.37 2.25
and incl. 17.10 18.60 1.50 1.46 2.63 1.50
and 42.60 44.00 1.40 6.26 163.36 8.30
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and 58.00 70.50 12.50 0.76 22.58 1.05
incl. 68.00 70.50 2.50 2.07 69.30 2.93
and 152.50 199.00 46.50 0.46 20.06 0.71
incl. 192.50 199.00 6.50 1.11 29.63 1.48
25GTDD005
22.00 24.11 2.11 4.14 78.58 5.12
incl. 22.00 23.12 1.12 6.92 133.09 8.58
and 28.10 34.00 5.90 1.25 15.14 1.44
incl. 28.10 29.50 1.40 4.42 50.41 5.05
and 96.75 118.25 21.50 1.92 15.88 2.11
incl. 96.75 101.00 4.25 6.28 51.12 6.92
and incl. 104.00 108.50 4.50 1.94 10.30 2.07
and incl. 115.72 118.25 2.53 1.72 8.93 1.84
and 138.36 146.82 8.46 1.92 40.05 2.42
incl. 141.75 145.18 3.43 3.80 28.99 4.16
and incl. 146.12 146.82 0.70 2.95 217.00 5.66
and 383.50 427.25 43.75 1.48 26.86 1.81
incl. 395.00 401.00 6.00 1.84 67.76 2.68
and incl. 408.53 413.00 4.47 5.43 6.63 5.51
and incl. 420.72 427.25 6.53 1.09 18.56 1.32
and 437.50 442.11 4.61 1.32 7.80 1.41
incl. 441.00 442.11 1.11 4.43 12.39 4.58
and 455.00 456.32 1.32 3.16 148.53 5.01
25GTDD006 74.70 76.50 1.80 1.18 20.33 1.43
25GTDD007 and 67.50 96.25 28.75 0.50 15.85 0.70
incl. 92.00 94.75 2.75 1.89 34.87 2.33
*Intervals are core length, not true width. The intersection angles and therefore the true widths vary from 30 to 60 percent for these
intervals as the holes were designed geotechnical holes completed for other purposes.
**Gold equivalent is calculated using a 80:1 silver to gold ratio and metal recoveries of 90% for Au and 83% for Ag.
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Figure 1: Oblique view of Lawyers Resource Area. Solid white line is the section trace for Figure 2.
Figure 2: Cross section showing selected results for 25GTDD005 with 2024 MRE domains and the outline
of the 2024 PEA conceptual open pit.
Quality Assurance and Control
Samples were analyzed at Bureau Veritas Minerals Laboratories in Vancouver, Canada (an ISO/IEC 17025-
accredited facility). The sampling program was undertaken by Company personnel under the direction of
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Andrew Turner, P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all
samples. Gold was assayed using a fire assay with atomic emission spectrometry . Core was ½ split and
assayed at HQ diameter.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc,
P.Geol., P.Geo., a non-independent qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors
Thesis Gold Inc.
“Ewan Webster”
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold Inc. is a resource development company focused on unlocking the potential of its 100% owned
Lawyers-Ranch Project, located in British Columbia’s prolific Toodoggone Mining District. A 2024
Preliminary Economic Assessment highlights robust project economics, including a 35.2% after -tax IRR
and an after-tax NPV5% of C$1.28 billion, demonstrating the potential for significant value creation. The
Company’s 2025 roadmap includes a robust exploration and drill program, delivery of a Pre -Feasibility
Study on the combined Lawyers -Ranch Project, and commencement of the Environmental Assessment
process. Through this strategic plan, Thesis Gold intends to elevate the Lawyers -Ranch Project to the
forefront of global precious metals ventures.
For further information or investor relations inquiries, please contact:
Kettina Cordero
Vice President Investor Relations
Email: [email protected]
Tel: +1 672-910-0026
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.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward -looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding the
use of proceeds from the Offering, intended closing date of the Offering, and the payment of finder’s fees.
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achievements to be materially different from those expressed or implied by forward -looking statements.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward -looking information, there may be other factors that cause
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Other factors which could materially affect such forward -looking information are risks respecting failure
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proceeds may not be expended as anticipated by the Company and other risks described in the Company’s
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