BeMetals Extends Option Agreement for Thunder Mountain Gold`s South Mountain Project
THUNDER MOUNTAIN
GOLD INC.
11770 W. President Dr., Ste. F
Boise, Idaho 83713
phone: (208) 658-1037
Website: www.thundermountaingold.com OTCQB: THMG
TSX-V: THM
TSX-V: THM
OTCQB: THMG
News Release
BeMetals Extends Option Agreement for
Thunder Mountain Gold`s South Mountain Project
Boise, Idaho and Vancouver B.C. – September 21, 2021: Thunder Mountain Gold, Inc. (OTC QB: THMG;
TSX-V: THM), (the “Company” or “THMG”) is pleased to report that the Company has agreed to an extension
of the option agreement (the “Option Agreement”) with BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF,
Frankfurt: 1OI.F) (“BeMetals”), to acquire up to a 100% interest in the South Mountain Project (“Sou th
Mountain” or the “Project” or the “Property”) in southwest Idaho, U.S.A.
Eric T. Jones, President and CEO of Thunder Mountain Gold Inc. commented, “We at the Company are excited
with the proposed program ahead outlined by BeMetals that this extension will allow. The underground drilling
in 2019 and 2020 has indicated that the high precious metal polymetallic massive sulfide mineralization likely
continues at depths below the extent defined by this program. BeMetals is proposing deep core holes from the
surface to test this downdip extension. If successful, the resource would be significantly increased, and would
enhance the economics of South Mountain.”
The South Mountain Project
South Mountain is a high precious metal polymetallic development project focu sed o n high -grade zinc and
silver, located seventy miles southwest of Boise, Idaho ( See Figure 1 ). The Project was intermittently mined
from the late 1800s to the late 1960s and its existing underground workings remain intact and well main tained.
Historic production at the Proj ect has largely come from high -grade massive sulphide bodies that remain open
at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized
material has been mined to date. These records also indicate average grades; 14.5% Zn, 363.42 g/t Ag, 1.98 g/t
Au, 2.4% Pb, and 1.4% Cu were realised (See NI 43 -101 Technical Report: Updated Mineral Resource
Estimate for the South Mountain Project, dated June 15, 2021 , Section 6.4 – Table 6. 3 for more deta ils.
Available on the BeMetals website and at ww w.sedar.com). Thunder Mountain purchased and advanced the
South Mountain from 2007 through 2019, with expenditures into the Project of approximately US$12million.
In 2019, BeMetals Corp. purchased an option on the Project, and formed a Boise, Idaho-based project team that
is focused on advancing South Mountain. This team includes key management of Thunder Mountain Gold Inc.,
Optionee of the Property. The project team has completed re-establishment o f the Pro ject site and have
conducted two phases of drilling. The team continues to build and maintain s trong relations with local
communities relevan t to the South Mounta in Project . The Project is largely on and surrounded by private
surface land, and as such, th e permittin g and e nvironmental aspects of the Pr oject are expected to be
straightforward. Permits are in place for underground exploration act ivities and BeMetals does not anticipate
significant barriers to any future development at the Project.
Figure 3. Location of South Mountain Project
Regarding Thunder Mountain Gold, Inc.
Thunder Mountain Gold Inc. , a ju nior ex ploration company founded in 1935, owns interests in base and
precious metals projects in the western U.S. The Company’s principa l asset is The South Moun tain Mine, an
historic former pr oducer of zinc, sil ver, gold, lead, and copper , located o n private lan d in Owyhee County
Idaho. In February 2019, The Company entered into an option agreement with BeMetals Corp .
(www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada. Thunder Mountain Gold also owns
100% of the Trout Creek Pro ject – a gold exploration project located al ong the western flank of the Shoshone
Mountain Range in t he Reese Ri ver Valley, ad jacent to and surrounded by Nevada Gold Mines, a jo int
operating agreement between Barrick and Newmont Gold, Inc. private mineral lands. For more information on
Thunder Mountain Gold, please visit the Company’s website at www.Thundermountaingold.com.
ABOUT BEMETALS CORP.
BeMetals is a precious and base metals exploration and development company focused on becoming a leading
metal producer through the acquisition of quality explor ation, deve lopment and pote ntially production stage
projects. The Company has recently establis hed itself in the gold sector with the acquisition of certain wholly
owned exploration projects in Japan. BeMetals is also progressing both its advanced high -grade, zinc -silver-
gold-copper polymetallic underground expl oration at the South Mountain Project in Idaho through a
preliminary economic assessment, and its tier -one targeted, Pangeni Copper Exploration Project in Zambia.
Guiding and leading BeMetals’ growt h strategy is a strong boar d and management team, founder s and
significant shareholders of the Company, who have an extensive proven record of delivering considerable value
in the mining sector through the discovery, construction and operation of mines around the world.
The technical information in this news release has been reviewed and approved by Larry D. Kornze, Retired, P.
Eng., Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by
National Instrument 43-101 standards.
Forward-Looking Statements
This press release contains forward -looking statements that a re based on t he beliefs of management and reflect t he
Company's current expectations. The forward -looking statements in this press release include sta tements with respect to
the completion of the transactio ns contemplated with BeMetals Corp., a Canadian Co rporation. G enerally, forward-
looking statements can be identified by the use of forward -looking terminology such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “e stimates”, “forecasts”, “int ends”, “anticipates”, “b elieves” or variations of such words an d
phrases or statements that certain a ctions, events or results “may”, “could”, “wou ld”, “might” or “will b e taken”, “occur”
or “be achieved” or the negative connotation thereof. The forward -looking statements are ba sed on certain assumptions ,
which could change materially in the future, incl uding the assumption that the transactions con templated with BeMetals
Corp. will be completed. By t heir nature, forward-looking information involves known and unknown risks, uncer tainties
and other factors that may cau se actual results, performance or achi evements to be materially different from any f uture
results, performance or achievements expressed or implied b y the forward -looking information. Such fact ors include the
determination and ability of BeMet als to comple te all req uired option payments and is suance of shares under the
BeMetals Option Agreement, the receipt of all required regulatory approvals and the satisfaction of all required terms and
conditions. Investors should refer to THMG’s Form 10 -K, Form 10-Q reports, and Definitive 14C Information Statement
as filed May 20, 2019, for a more de tailed discussion of ri sks that may impact future res ults. There can be no assura nce
that forward-looking information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordin gly, investors should n ot place undue reliance on for ward-looking
information. Forward-looking information is provided as of the date of this press release, an d the Company assumes no
obligation to update or re vise them to reflect new events or circumstanc es, except as required in accordance with
applicable laws.
Cautionary Note to Investors
Neither the TSX Vent ure Exchange nor its Reg ulation 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 Executive Officer
Office: (208) 658-1037