Phase 2 Underground Drill Program Commences at The South Mountain High-Grade Zinc-Silver-Gold-Copper 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
Phase 2 Underground Drill Program Commences at
The South Mountain High-Grade Zinc-Silver-Gold-Copper Project
Boise, Idaho and Vancouver B.C. – September 21, 2020: Thunder Mountain Gold, Inc. (OTC QB: THMG;
TSX-V: THM), (the “Company” or “THMG”) is pleased to announce that BeMetals Corp. has initiated their
Phase 2 core drilling program at the Company`s South Mountain Zinc-Silver-Gold Project in Owyhee County,
Idaho, U.S.A. This year’s program is designed to extend the mineralized bodies at the Texas Zone and infill
drill key areas of the DMEA Zone to prepare for completion of both an updated mineral resource estimate and a
Preliminary Economic Assessment (“PEA”) for South Mountain in 2021.
Highlights of the Planned 2020 Resource Expansion and Infill Drilling Campaign:
• Complete 8,000 feet ( 2,400 meters) of diamond drilling for approximately 25 holes from at least
three underground drilling locations, including opening and enlarging the southeastern section of
the Sonneman level drift towards the Texas Zone;
• The new Texas Zone drill station s will provide better locations for testing the newly defined high-
grade copper-silver-gold targets;
• Conduct infill drilling of the DMEA Zone to further evaluate the significant component of gold
and silver intersections from the 2019 program that included;
Drill Hole ID, Zone
& Interval
From
(m)
To
(m)
Core
Interval
(m)
Zn % Ag
g/t
Au
g/t
Pb
%
Cu
%
SM19-002: Interval 3 85.83 96.39 10.56 11.42 123.0 4.43 0.36 0.52
SM19-006 28.01 43.71 15.70 21.27 147.0 8.04 0.77 0.30
SM19-007 26.97 39.17 12.20 18.16 122.6 4.41 1.55 0.16
SM19-016: Interval 2 136.55 146.64 10.09 3.15 151.3 1.68 0.66 0.22
SM19-016: Interval 4 184.18 188.64 4.47 5.04 482.0 4.27 5.80 0.43
Note: Reported widths in the table are drilled core lengths as true widths are unknown at this time. It is
estimated based upon current data that true widths might range between 60 -80% of the drilled intersection
(See notes to table 1 below & QA/QC section).
• All the drilling data collected during this 2020 Phase will be incorporated into an updated
resource estimate and a Preliminary Economic Assessment in 2021.
Plans for the 2020 Phase 2 Resource Expansion Drilling Program
BeMetals has formed a Boise, Idaho-based project team tha t is focused on adva ncing South Mountain. This
team includes key management of Thunder Mountain Gold Inc., Optionees of the Property, who have
coordinated re-establishment of the Project site for the start of Phase 2 drilling. The team continues to build and
maintain strong relations with local communities relevant to the South Mountain Project in southwestern Idaho.
The Project is largely on and surrounded by private surface land with much of the permitting in place that
would facilitate development of the project given favourable results of technical and economic studies.
BeMetals has contracted Boart Longyear to drill a total of approximately 25 underground core holes for some
2,400 meters at the South Mountain project . During the 2019 dr illing campa ign at South Mountai n, the
Company identified and intersected multiple zones of high-grade zinc with significant gold and silver
mineralization in projected extensions of the polymetallic DMEA zone.
Drilling has commenced from the Muck Bay #5 drilling station while the mining contractor, Quimby Mining
Services, works on opening and enlarging the far southeastern section of Sonneman level to prepare drilling
platforms closer to targets within the Texas Zone. The historical far southeastern section of the Sonneman adit
has not been accessed since the 1980s. Subsequently, little underground exploration has been conducted on this
zone in the past four decades.
BeMetals has defined a number of compelling targets re lated to the Texas Zone from historical drilling, and
underground sampling. These targets include both high -grade copper and zinc mineralization with a significant
silver and gold component. A significant portion of this year’s underground drilling are planned to test and
extend mineralization in this zone which can potentially add significant tonnage towards updating a mineral
resource estimate for South Mountain in the first half of 2021.
The infill drilling planned for the DMEA Zone area is designed to provide further information on the grade and
distribution of both the gold and silver component to this polymetallic zone of mineralization. Table 1 below
includes the com plete results from the 2019 dri lling of the DMEA Zone. Table 2 shows the azimuth, dip and
collar co-ordinates for these drill holes
Table 1. 2019 Program DMEA Zone: Analytical and Assay Results
Drill Hole ID, Zone
& Interval
From
(m)
To
(m)
Core
Interval
(m)
Zn % Ag
g/t
Au
g/t
Pb
%
Cu
%
DMEA Zone
SM19-002
Interval 1 46.88 57.39 10.51 17.81 226 2.41 1.59 0.16
Interval 2 67.85 71.63 3.78 5.45 145 8.39 0.58 0.15
Interval 3 85.83 96.39 10.56 11.42 123 4.43 0.36 0.52
SM19-003
Interval 1 51.18 75.35 24.17 11.12 267 3.44 3.75 0.29
Including 51.18 60.78 9.60 11.74 437 5.99 8.68 0.38
Including 62.09 75.35 13.26 11.77 169 1.88 0.54 0.25
Interval 2 77.60 81.24 3.64 9.74 331 1.94 1.11 0.34
SM19-004 (Did not intersect
mineralization)
SM19-005 75.13 86.37 11.23 7.97 128 1.20 0.91 0.24
SM19-006 28.01 43.71 15.70 21.27 147 8.04 0.77 0.30
SM19-007 26.97 39.17 12.20 18.16 122.6 4.41 1.55 0.16
SM19-014
Interval 1 105.31 120.40 15.09 9.59 127.1 1.50 0.69 0.28
Interval 2 138.07 143.88 5.81 4.88 76.9 2.55 0.21 0.12
Interval 3 155.17 158.95 3.78 14.49 145.5 0.37 0.25 0.48
Interval 4 184.40 189.56 5.15 0.28 79.9 2.08 0.15 0.06
Interval 5 250.65 258.94 8.29 8.11 178.7 0.48 0.57 1.73
Interval 6 266.33 268.16 1.83 1.32 158.9 2.56 0.56 0.11
SM19-016
Interval 1 112.33 132.05 19.72† 0.07 8.39 1.52 0.01 0.002
Interval 2 136.55 146.64 10.09 3.15 151.3 1.68 0.66 0.22
Interval 3 158.27 163.59 5.32† 0.59 46.8 1.81 0.11 0.04
Interval 4 184.18 188.64 4.47† 5.04 482.0 4.27 5.80 0.43
Interval 5 227.32 230.83 3.51 8.85 136.2 0.17 1.25 1.67
Note: Reported widths in tables are drilled core lengths as true widths are u nknown at this time. It is estimated based
upon current data that true widths might range between 60 -80% of the drilled intersection. Intervals cut offs are based
upon visual contacts of massive sul fide units with no more than 1.75 meters of internal skarn . For SM19-016† (intervals
1, 3 and 4) a nominal 0 .46 g/t gold cut off has been applied to determine the boundaries of the intersections with no
internal dilution. (Note: See details below in QA/QC section).
Upon completion of the 2020 drilling campaign additional metallurgical and hydrol ogy testing as well as rock
mechanic and mine modelling will be scheduled to be done in 2021 . A Preliminary Economic Assessment for
South Mountain is expected to be completed by approximately mid-2021.
Table 2: Drill Hole Azimuth, Dip and Collar Coordinates
Hole ID Azimuth
Degree
Dip
Degree
Eoh Length
(m)
East (ft) North (ft) Elevation
(ft)
SM19-002 138 -28 102.41 231,176 394,120 6,868
SM19-003 152 -47 99.97 231,176 394,120 6,868
SM19-004 175 -58 119.79 231,176 394,120 6,868
SM19-005 175 -53 98.45 231,176 394,120 6,868
SM19-006 320 +61 58.67 231,148 393,978 6,860
SM19-007 313 30 74.07 231,1481 393,978 6,860
SM19-014 210 -61 271.79 231,1176 394,129 6,868
SM19-016 237 -58.5 267.61 231,1176 394,129 6868
QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES
The Project em ploys a rigorous QA/QC program that includes; blanks, duplicates and appropriate certified
standard reference material. All samples are introduced into the sample stream prior to sample
handling/crushing to monitor analytical accuracy and pr ecision. The i nsertion rate for the combined QA/QC
samples is 10 percent or more depending upon batch sizes . ALS Global completed the ana lytical work with the
core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures
are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the following
methods as appropria te to determine the grades; Au -AA23-Au 30g fire assay with AA finish, ME -ICP61-33
element four acid digest with ICP -AES finish, ME-OG62-ore grade elements, four acid with ICP -AES finish,
Pb-OG62-ore grade Pb, four acid with ICP -AES finish, Zn-OG62-ore grade Zn, four acid digest with ICP -AES
finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish.
The Technical inform ation in this news release has been reviewed and approved by Larry D. Kornze, P. Eng.,
Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by National
Instrument 43-101 standards.
The South Mountain Project
South Mountain is a polymetallic development project focused on high-grade zinc and is located approximately
70 miles southwest of Boise, Ida ho (see Figure 1). The Project was in termittently mined from the late 1800s to
the late 1960s and its exis ting underground workings remain intact and well maintained. Historic production at
the Project has largely come from high-grade massive sulfide bodies that remain open at depth and along strike.
According to historical smelter record s, approximately 53,642 tons of min eralized material has been mined to
date. These records also indicate average grades; 14.5% Zn, 36 3.42 g/t Ag , 1.98 g/t Au, 2.4% Pb , and 1.4%
Cu were realised. Thunder Mountain Gold Inc. purchas ed and advanced the Project from 2007 through 20 19
investing approximately US$12M during that period. The current mineral resource estimate of the deposit is
detailed in Table 3 below and the C ompany expects to provide a revised minera l resource update following a
phase 2 drilling program in 2020.
The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental
aspects of the Project are expected to be s traightforward. Permits are in place for underground expl oration
activities and BeMetals does not anticipate significant barriers to any future development at the Project.
Regarding Thunder Mountain Gold, Inc.
Thunder Mountain Gold Inc., a junior explo ration company founded in 1935, owns interests in base and
precious metals proje cts in the western U.S. The C ompany’s principal asset is The South Mountain Mine, an
historic former producer of zinc, silver, gold, lead, and copper , located on private land i n Owyhee County
Idaho. In February 2019, The Company entered into an option agreement wi th B eMetals Corp .
(www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada . Thunder Mountain Gold also owns
100% of the Trout Creek Project – a gold exploration project located along the western flan k of the Shoshone
Mountain Ra nge i n the Reese River Va lley, adjacen t to and surrounded by Nevada Gold Mines, a joint
operating agreement between Barrick and Newmont Goldcorp 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 new precious and base m etals exploration and development company focused on becoming a
leading diversified metal pro ducer through the acquisit ion of quality exploration, development and potentially
production stage projects. The Company is searching globally for an entry -level precious metals project while
progressing both its advanced high -grade, zinc-silver-gold-copper polymetallic underground exploration at the
South Mountain Project in Idaho, and its tier -one tar geted, Pangeni Copper Exploration Project in Zambia.
BeMetals’ g rowth strategy is led by our strong board and management, founders of the Company and
significant shareholders, who hav e an extensive proven record of delivering considerable value in the mini ng
sector through the discovery, construction and operation of mines around the world.
Forward-Looking Statements
This press release contains forward -looking statements that are base d on the belief s of management and reflect the
Company's current expectations. The forward-looking statements in this pr ess release inclu de statements with respect to
the completion of the transactions contemplated with BeMetals C orp., a Canadian Corporati on. Generally, forward-
looking statements can be ide ntified by the use of forward -looking terminology such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes ” or variations of such wo rds and
phrases or statements that certain actions, e vents or results “may”, “coul d”, “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 transact ions contemplated with Be Metals
Corp. will be completed . By their nature, forward -looking information involves known and unknown risks, uncertaintie s
and other factors that m ay cause actual results, performance or achievements to be materially different fr om any future
results, performance or achievements expressed or implied by the forward -looking information. Such factors include the
determination a nd ability of BeMetals to complete all re quired option payments and issuance 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 t o THMG’s Form 10 -K, Form 10-Q reports, and Definitive 14C Information Statement
as filed May 20, 2019, for a more detailed discussion of risks tha t may impact futu re results. There can be no assurance
that forward-looking information will prove to be accur ate, as actual results and future events could differ materially from
those ant icipated in such statements. Accordingly, investors sh ould not plac e undue reliance on forward -looking
information. Forward-looking information is provided as of the date of thi s press release, and the C ompany assumes no
obligation to update or revise them to reflect new events or cir cumstances, except as req uired in acco rdance with
applicable laws.
Cautionary Note to Investors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as th at term is defin ed 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