Thunder Gold Intersects 409.5 Metres Averaging 0.307 g/t Au (Including 111.0 Metres Averaging 0.514 g/t Au) at Tower Mountain
Thunder Gold Intersects 409.5 Metres
Averaging 0.307 g/t Au (Including 111.0 Metres
Averaging 0.514 g/t Au) at Tower Mountain
Thunder Bay, Ontario--(Newsfile Corp. - September 22, 2026) - Thunder Gold Corp. (TSXV: TGOL)
(FSE: Z25) (OTCQB: TGOLF) ("
Thunder Gold
" or the "
Company
") is pleased to announce the
following infill diamond drill results from the Bench Target, at the Company's flagship Tower Mountain
Property, 40 kilometres west of Thunder Bay, Ontario.
Highlights:
TM26-214 intersected semi-continuous mineralization from surface to the end-of-hole,
including 111.0 metres averaging 0.514 g/t Au;
TM26-212 intersected semi-continuous mineralization from 426.0 metres to the end-of-
hole, terminating in 84.0 metres averaging 0.442 g/t Au;
Results indicate good to very good spatial correlation to the geological model and,
Results to date suggest actual drilled grades exceed predicted model grades.
The three holes summarized herein were drilled from west to east, within the 2026 MRE optimized pit
limit (Reference Table 1.0 and Figure 1.0).
TM26-211 targeted the western interpolation limit of the current, 2026 MRE model, an area largely
defined as waste. TM26-211 intersected
396.0 metres averaging 0.110 g/t Au
from surface to the
end-of-hole with scattered intervals greater than the current MRE cut-off grade (Reference Table 2.0).
TM26-212 was designed to evaluate the potential for southeast extension of the A-Target, 200 metres to
the northwest. It also targeted the interpreted down-dip extension of the Bench Target at 400 metres
down-hole.
TM26-212 intersected 223.5 metres averaging 0.283 g/t Au and terminates with 84.0
metres averaging 0.443 g/t Au.
The mineralization commenced at a depth of 376.5 metres and
persisted to the end-of-hole.
TM26-214 was designed to cross the entirety of the Bench Target, a true width of approximately 200
metres. TM26-214 intersected
496.1 metres averaging 0.271 g/t Au
within semi-continuous, variably
brecciated and altered volcanics and intrusive rocks. Mineralization starts at surface and extends to the
end-of-hole.
Wes Hanson, President and CEO, states,
"TM26-212 and 214 (and TM26-210 previously reported)
are the initial holes purposed towards resource conversion at the Bench Target. Both holes confirm
the predictive accuracy of the current MRE model, both spatially as well as empirically. Mineralized
contacts were intersected within 25 metres of where predicted, and gold grades to date suggest actual
gold grades returned by the diamond drilling are, collectively, 10% higher that model predicted grade.
TM26-212 and 214 increase the drill density within a large area of Inferred resource and both holes
demonstrate increased gold grade with depth, similar to what was observed in holes TM21-107X,
TM23-137X and TM26-210. Our focus for the next three months remains on resource conversion
drilling in advance of an MRE update by year-end."
Table 1.0 provides the location and orientation of the reported holes. Figure 1.0 is a plan view showing
the location of the drill holes reported in this news release.
Table 1.0 – Bench Target – Resource Conversion (Infill) Drilling Location Bearing and Dip
Hole ID
Easting
Northing
Elevation
Bearing
Dip
TD
TM26-211
300798.0
5377244.0
511.0
40.0
-64.9
402.0
TM26-212
300674.0
5377170.0
502.0
40.0
-49.6
600.0
TM26-214
300805.0
5377391.0
487.7
60.0
-50.0
501.0
Figure 1.0 Bench Target Resource Conversion Drill Holes – August 2026
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TM26-211
TM26-211 targeted the western interpolation limit of the current, 2026 MRE model, an area estimated to
be waste within the 2026 optimized pit shell. TM26-211 was primarily designed to evaluate the potential
to discover zones above the MRE cut-off grade within the currently defined waste southwest of the Bench
Target. The hole intersected multiple, late, barren intermediate dikes (sills) that disrupt the continuity of
the mineralized intervals approaching the Bench Target. TM26-211 did NOT intersect the main trend of
the Bench Target (Reference Figure 1.0).
The 2026 MRE model predicted TM26-211 would intersect 396.0 metres averaging 0.093 g/t.
TM26-
211 intersected
396.0 metres averaging 0.110 g/t Au
(Reference Figure 3.0).
Table 2.0 - Bench Target Resource Conversion Drilling Significant Results
Hole ID
From
To
Length
Grade
True
Width
(m)
(m)
(m)
(Au g/t)
(m)
TM26-211
6.0
402.0
396.0
0.110
Unknown
includes
91.5
117.0
25.5
0.235
Unknown
and
210.0
222.0
12.0
0.184
Unknown
and
256.5
297.0
40.5
0.347
Unknown
and
369.0
381.0
12.0
0.215
Unknown
TM26-212
7.5
600.0
592.5
0.194
Unknown
includes
7.5
376.5
369.0
0.060
Unknown
includes
75.0
88.5
13.5
0.343
Unknown
and
236.0
251.5
15.5
0.346
Unknown
and
376.5
600.0
223.5
0.283
Unknown
includes
376.5
513.0
136.5
0.190
Unknown
and
513.0
597.0
84.0
0.442
Unknown
and
597.0
600.0
3.0
0.085
Unknown
TM26-214
5.0
501.0
496.0
0.271
230.1
includes
21.0
430.5
409.5
0.307
190.0
includes
21.0
51.0
30.0
0.306
13.9
and
51.0
178.5
127.5
0.177
59.2
and
178.5
309.0
130.5
0.280
60.6
and
309.0
319.5
10.5
0.038
4.9
and
319.5
430.5
111.0
0.514
51.5
and
430.5
501.0
70.5
0.123
32.7
True Width is estimated where sufficient data allows.
TM26-212
TM26-212 also tested the western interpolation limit of the current 2026 MRE model. This hole was
designed to evaluate the possible extension of the at-surface, high-grade A-Target 200 metres to the
northwest. The hole also targeted the southwestern edge of a high-grade inferred resource block at the
base of the current resource pit optimization (Reference Figure 2.0).
The upper portion of the hole returned scattered intervals greater than the 2026 MRE cut-off grade, but
the hole did not identify mineralization suggesting that the A-Target extends 200 metres to the southeast
(Reference Figure 1.0).
TM26-212 intersected Bench Trend at a depth of approximately 400 metres down-hole. Semi-
continuous gold mineralization commences at a depth of 376.5 metres and continue to the end-of-hole at
600 metres (Reference Table 2.0). Gold grade increases down-hole, ending with an interval of 84.0
metres averaging 0.442 g/t Au at the southwestern edge of the high-grade Inferred resource block
targeted.
The 2026 MRE predicted TM26-212 would intersect 592.5 metres averaging 0.194 g/t Au from surface
to the end-of-hole.
TM26-212 intersected 592.5 metres averaging 0.144 g/t Au,
26% less than the
model predicted grade. Most of the difference is realized in the initial 376.5 metres of the hole where the
2026 MRE model predicted mineralization above the MRE cut-off grade. Interestingly, the lower half of
TM26-212 reversed that trend, intersecting more mineralization than the model predicted (Reference
Figure 2.0).
TM26-214
TM26-214 was designed to crosscut the Bench Target. This hole specifically targeted a large block of
Inferred Resource with the objective of upgrading the Inferred Resource to the Indicated Resource
classification, (Reference Figure 2.0).
TM26-214 intersected variably altered and brecciated volcanic and intrusive rocks, hosting continuous
gold mineralization from the collar to the end of the hole.
TM26-214 intersected 496.0 metres
averaging 0.271 g/t Au from the collar to the end-of-hole including 111.0 metres averaging
0.514 g/t Au.
Figure 2.0 – Cross Section TM26-214 (Looking NW) 50 metre Influence
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The 2026 MRE model predicted TM26-214 would intersect 496.0 metres averaging 0.434 g/t Au. Actual
drill results returned an average gold grade of 0.271 g/t Au over the same interval. The difference largely
traces to the final 70.5 metres of the hole which averaged 0.123 g/t Au (Reference Table 2.0 and Figure
2.0). The observed loss may be partially offset by TM26-212 (200 metres to the southwest) which
exceeded modeled grade by 100% at the bottom of the hole (Reference Figure 2.0).
MRE Reconciliation
Reconciliation of drill results to date within the Bench Target relative to the 2026 MRE model suggest an
overall grade increase relative to model predicted grades. Figure 3.0 presents a summary of model
predicted grades compared to actual drilled grade for the six (6) drill holes that intersected the Bench
Target to date. All six holes post-date the 2026 MRE model and therefore can be compared directly to
model predicted grades to measure the predictive accuracy of the model.
The results to date indicate significant variation on a hole-by-hole basis, ranging from a low of -38%
(TM26-214) to a high of 100% (TM26-210). This is typical and within expected tolerances. On a
weighted average basis, the entire population suggests that the actual drilled grades are 10% higher
than predicted modeled grade.
The analysis excludes mineralization intersected outside the 2026 MRE model space, specifically, the
high-grade results intersected in holes TM26-210 and TM23-137X that extend beyond the base of the
2026 MRE model. TM26-210 intersected
Figure 3.0 - Model Estimated Versus Actual Drilled Grade – Resource Conversion Drilling
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Quality Assurance and Quality Control
Diamond drilling utilizes NQ diameter tooling. The core is received at the on-site logging facility where it
is, photographed, logged for geotechnical, physical properties and geological data. Samples are
identified, recorded, and cut in half by wet diamond saw. Half the core is sent for assay at an accredited
laboratory with the remaining half core stored on site. A standard sample length of 1.5 meters is typically
employed, varying only at major lithological contacts.
Certified standards and blanks are randomly inserted into the sample stream and constitute
approximately 10% of the sample stream.
Certified standards and blank performance is monitored with
any failures evaluated and investigated to determine if said failure is a result of error during submission.
Any unexplained failures are identified and the five samples preceding and following the failure are re-
assayed. Commencing in 2026, duplicate pulps are prepared at a rate of 1 in every 20 samples. The
duplicate pulps are sent to a second independent analytical facility for analyses.
Activation Laboratories Ltd., Thunder Bay, Ontario, ISO/IEC 17025:2017 is the primary independent
analytical service provider.
AGAT Laboratories, Thunder Bay, Ontario, ISO/IEC 17025:2017 is the secondary, independent
analytical facility.
Samples are, received, dried, crushed to 80% passing 2.0 mm. A 250-gram sample is split and
pulverized. Samples are analyzed for gold using a 30-gram lead collection fire assay fusion (FA) with an
atomic absorption (AAS) finish. All assay results greater than 5.0 g/t Au are re-assayed using a
gravimetric analysis. All assays greater than 30.0 g/t Au are re-assayed using screen metallics where a
representative 1000-gram sample is split sieved at 149µm. Assays are performed on the entire +149
µm fraction and two splits of the -149 µm fraction. A final assay is calculated based on the weight of
each size fraction.
Qualified Person
Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo.,
President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established
by NI 43-101.
About the Tower Mountain Gold Property
The 7,625-hectare, 100%-owned Tower Mountain Property is beside the Trans-Canada highway, 40-km
west of Thunder Bay, Ontario (pop. 120,000). Gold mineralization occurs in variably brecciated and
altered rocks surrounding the calc-alkalic Tower Mountain Intrusive Complex ("
TMIC
"). Drilling to date
has established an initial mineral resource parallel to the western contact of the intrusion representing
approximately 25% of the TMIC halo.
The MRE has an effective date of January 19, 2026. A Technical Report titled "NI 43-101 Technical
Report for the 2026 Mineral Resource Estimate on the Tower Mountain Project, Ontario, Canada." is
available on the Company's website at
www.thundergoldcorp.com
and on SEDAR+ (
www.sedarplus.ca
)
under the Company's Issuer profile.
The Report was prepared by Charley Murahwi, P.Geo., FAusIMM.; William Lewis, P.Geo., Tudorel
Ciuculescu, P.Geo., and Richard Gowans, P.Eng., all of Micon International Limited ("
Micon
"), Toronto,
Ontario, Canada. The Report was prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101") and CIM Definition Standards of Mineral Resources and
Mineral Reserves.
The MRE is summarized as follows:
Tower Mountain Mineral Resource Estimate - January 19, 2026
Category
Tonnage
(Mt)
Grade
(g/t Au)
Contained Metal
('000 oz gold)
Indicated
34.5
0.46
514
Inferred
211.1
0.45
3,053
Notes:
1
.
The effective date of this MRE is January 19, 2026.
2
.
Messrs. William Lewis, P.Geo., Charley Murahwi, P.Geo., FAusIMM, and Tudorel Ciuculescu, P.Geo. from Micon International Limited are the
Qualified Persons (QPs) responsible for this MRE.
3
.
The MRE has been classified in the Indicated and Inferred categories. At this time, there are no Measured resources at the Tower Mountain
Project.
4
.
The calculated gold cut-off grade is 0.19 g/t Au.
5
.
An average specific gravity (SG) value of 2.77 g/cm
3
was used.
6
.
The MRE used economic assumptions for open pit mining. The following economic parameters were used for generating the cut-off grade: a
gold price of US$3,000/oz, 80% recovery, open pit mining cost of US$3.0/t, processing costs of US$8.0/t, general and administration cost of
US$3.5/t, transportation cost of US$2.5/oz of gold, and a royalty of 3%.
7
.
The open pit used slope angles of 30° in overburden and 50° in fresh rock.
8
.
The block model is orthogonal and has a parent block size of 5 m x 5 m x 5 m, with minimum sub-block size of 2.5 m x 2.5 m x 2.5 m.
9
.
The open pit optimization used a re-blocked size of 10 m x 10 m x 10 m.
10
.
The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and
Petroleum Standards and Practices.
11
.
Numbers have been rounded to the nearest million tonnes and nearest thousand ounces. Differences may occur in totals due to rounding.
12
.
Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported
Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration; however, it is reasonably expected that a
significant portion of Inferred Mineral Resources could be upgraded into Indicated Mineral Resources with further exploration.
13
.
Micon QPs have not identified any legal, political, environmental, or other relevant factors that could materially affect the potential
development of the mineral resources and of the estimate.
The remaining 75% of the TMIC halo demonstrates similar geology, alteration, and geophysical
signatures and is untested by drilling.
A second gold trend, identified in 2026, outcrops at surface and is continuously mineralized over a 100-
metre width. This gold mineralization occurs within Timiskaming-type conglomerates that have been
traced for over 5.0 kilometres along a southwest trend paralleling the Thunder Lake Fault.
The Company
believes both targets offer opportunities to materially increase the total resource through systematic
drilling.
About Thunder Gold Corp.
Thunder Gold is advancing the Tower Mountain project in Thunder Bay, Ont. -- an emerging gold system
with the scale, consistency and quality to support a long-life, open-pit operation. Results from the
disciplined drill programs have consistently reinforced confidence in the continuity and predictability of
the discovery while highlighting significant potential for expansion across multiple zones of the Tower
Mountain intrusive complex. With industry-leading drilling costs, existing infrastructure and a skilled local
work force, Tower Mountain represents a rare combination of size, scalability and cost-effective growth.
At Thunder Gold, our vision is clear: to unlock a discovery that has the potential to become a
transformational gold project, delivering long-term value for shareholders while contributing to the future
of Canada's mining industry.
For more information about the Company please visit:
www.thundergoldcorp.com
.
On behalf of the Board of Directors,
Wes Hanson, P.Geo., President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
Bryan Baritot, Investor Relations
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities legislation (collectively, "forward-looking
statements"). Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable. All
statements, other than statements of historical fact, are forward-looking statements and are based on
predictions, expectations, beliefs, plans, projections, objectives and assumptions made as of the date
of this news release, including the Company's plans regarding exploring its mineral exploration
properties; anticipated results of geophysical surveys, drilling programs, geological interpretations
and potential mineral recovery. Any statement that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often
but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends"
or variations of such words and phrases or stating that certain actions, events or results "may" or
"could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact
and may be forward-looking statements.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risks related to failure to obtain adequate funding on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential for delays in exploration or
development activities or the completion of feasibility studies; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility
that future exploration, development or mining results will not be consistent with the Company's
expectations; risks related to the gold price and other commodity price fluctuations; and other risks
and uncertainties related to the Company's prospects, properties and business detailed elsewhere in
the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned against attributing undue certainty or
reliance on forward-looking statements. These forward-looking statements are made as of the date
hereof and the Company does not assume any obligation to update or revise any forward-looking
statements, other than as required by applicable law, to reflect new information, events or
circumstances, or changes in management's estimates, projections or opinions. Actual events or
results could differ materially from those anticipated in the forward-looking statements or from the
Company's expectations or projections.
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