TRCG.V · 2026-07-20 12:00:00

Thistle Resources Uncovers High Grade Stibnite in New 2026 Trench Program at Its Brunswick Antimony Project XRF analysis returns Antimony (Sb) values of up to 23.04%; samples submitted to ALS Global for certified analysis.

Corporate Updates

Thistle Resources Uncovers High Grade

Stibnite in New 2026 Trench Program at Its

Brunswick Antimony Project

XRF analysis returns Antimony (Sb) values of up to 23.04%;

samples submitted to ALS Global for certified analysis.

Toronto, Ontario--(Newsfile Corp. - July 20, 2026) - Thistle Resources Inc. (TSXV: TRCG) (OTCQB:

TRCGF) (the "Company" or "Thistle") is pleased to announce it has initiated its 2026 Antimony

Trenching program at its flagship Brunswick Antimony Project in the World-Famous Bathurst Mining

Camp, NB, Canada.

Excavation of the trenches was conducted by Doucet Excavation, Bathurst, New

Brunswick, with their locations (Figure 7) targeting the main mineralized zone and the sediment-granite

contact that hosts the mineralization to determine the extent and characteristics of the system.

Ten samples have been collected along the edge of Trench area #1 at approximately UTM coordinates

288890E / 5259810N (Zone 20). The samples represent various styles of antimony mineralization

including disseminations, massive blebs and quartz vein associated masses.

Figure 1: Pod-like massive Stibnite (Antimony) within crystalline quartz veining.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9148/305742_figure1.jpg

Prior to shipping the samples to ALS Global in Moncton for analysis, the samples were analyzed with an

XRF utilizing an Olympus Vanta 50 portable XRF equipped with a 50 kV workstation and Reflex XRF

software. The XRF process included calibrating the machine and utilizing standards in the sample

stream (OREAS504b, CDN-BL-10) during analysis. Each sample consisted of 1 - 6 pieces of rock chips

collected at site. As such, the samples were not homogeneous. The various pieces were analyzed in 3

separate locations and the results averaged by the Reflex XRF software. The results for Cu, Pb, Zn, As

and Sb are summarized below in Table #1. The samples have been shipped to ALS Global in Moncton

for preparation and certified analysis.

Table 1:

XRF Sample Results

Sample ID

ppm

TBD

TRCG-Sb-001

103

546

267

162090

16.21

TBD

TRCG-Sb-002

100

2782

2890

260

92790

9.28

TBD

TRCG-Sb-003

127

228

338

212

230369

23.04

TBD

TRCG-Sb-004

131

710

312

103647

10.36

TBD

TRCG-Sb-005

194

289

215

209948

20.99

TBD

TRCG-Sb-006

212

246

371

279

207919

20.79

TBD

TRCG-Sb-007

132

511

377

66682

6.67

TBD

TRCG-Sb-008

121

279

631

80834

8.08

TBD

TRCG-Sb-009

124

304

182

47649

4.76

TBD

TRCG-Sb-0010

109

170

152

289

58063

5.81

TBD

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9148/305742_image2.jpg

Gary Lohman, P.Geo., VP Exploration & Director, stated,

"We are very pleased to get the project

underway.

This trenching program is designed to uncover the granite-sediment contact - the boundary

that hosts the antimony mineralization. Previous sampling located various styles of mineralization, mostly

associated with extensive silicification and quartz veining. Once the trenches are mapped and channel

sampled, the structural data will help define the azimuth, or direction, of the contact, telling us where to

aim our drill holes.

In mid-June, Jim Walker, P.Geo., Ph.D., visited the site to assist in designing our

program and to provide insight into the local geology, particularly the known antimony deposits of New

Brunswick. While the project shares some similarities with Lake George, the Brunswick Antimony

Project stands out due to the presence of both gold (Au) and high-grade silver (Ag) in the system, with

previous certified assays returning up to 2.32 g/t Au and 1,300 g/t Ag."

Figure 6: G. Lohman, P.Geo., VP Exploration, with Dr. James A. Walker, P.Geo., Ph.D., on site,

June 16, 2026. Dr. Walker served as Manager of the New Brunswick Geological Surveys

Branch (North) in Bathurst and is co-author of the Geoscience Canada publications on the

Bathurst Mining Camp.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9148/305742_e8c63d4cd438aac6_005full.jpg

Patrick J. Cruickshank, MBA, CEO & Director, stated,

"We are thrilled to initiate this important

trench program at the Brunswick Antimony Project. We know we have high-grade samples, and we look

forward to exposing bedrock and seeing the direction of the mineralization at the contact prior to our

maiden drill program. Although New Brunswick has other Antimony Deposits, this system is unique in

that it also has High-Grade silver associated with Antimony in addition to gold. We would also like to

congratulate the Government of New Brunswick - Deputy Premier René Legacy, Premier Susan Holt,

Natural Resources Minister John Herron, and everyone involved in the competitive process - on

advancing the reactivation of the past-producing Lake George Antimony Mine. The province's leadership

on critical minerals creates the opportunity for New Brunswick to become a global player in this crucial

space. This is good news for Thistle."

Learn more about the Brunswick Antimony Project by viewing the Company's new Antimony

Fact Sheet:

Brunswick Antimony Fact Sheet (July 2026)

Brunswick Antimony On-Site Analysis Video:

Rock Analysis: Three Styles of Antimony Mineralization in One Sample - Gary Lohman, P.Geo. (Phase

1, 2025):

https://www.youtube.com/watch?v=JPq-UYdZoFM

Brunswick Antimony Project On-Site Interview:

At the Granite Contact: Antimony, Silver and Gold in One System - Patrick J. Cruickshank, MBA, CEO,

with Gary Lohman, P.Geo. (Phase 1, 2025):

https://www.youtube.com/watch?v=v_oj3CjI5xM

The videos may contain forward-looking information and are qualified in their entirety by the

cautionary language contained in this news release.

Industry Development - Lake George Antimony Mine

Thistle would also like to congratulate Agnico Eagle Mines Ltd. and its subsidiary, Avenir Minerals

Limited, on the Government of New Brunswick's July 7, 2026 announcement that Avenir Minerals has

been selected, through a competitive process, to negotiate an exclusive exploration agreement for the

past-producing Lake George Antimony Mine*, located approximately 30 km southwest of Fredericton,

New Brunswick. Lake George was once North America's largest primary antimony producer, and the

entry of one of the world's largest gold producers into New Brunswick's antimony space represents a

significant vote of confidence in the province.

In announcing the selection, New Brunswick's Minister of Natural Resources, the Hon. John Herron,

described the Lake George site as an invaluable opportunity to unlock the province's mineral potential

and meet growing international demand for critical minerals (Government of New Brunswick news

release, July 7, 2026). The Company views this development as a strong endorsement of New

Brunswick as an emerging jurisdiction for antimony and critical minerals exploration and development.

Figure 7:

Brunswick Antimony Project Trench Locations (July 2026)

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9148/305742_e8c63d4cd438aac6_008full.jpg

Update Regarding Jemini Capital Engagement

The Company wishes to clarify certain disclosure contained in its news release dated June 8, 2026

announcing the engagement of Jemini Finance Inc. (doing business as "Jemini Capital") to provide

shareholder communications, market intelligence and corporate development services pursuant to a

consulting agreement dated June 3, 2026. The Company confirms that Jemini Capital and the Company

are arm's-length parties. The Company further confirms that certain principals of Jemini Capital hold

common shares of the Company. Such holdings were acquired independently of the consulting

engagement and neither Jemini Capital nor its principals have any right or obligation to acquire

additional securities of the Company pursuant to the consulting agreement.

Analysis and QAQC

All samples were submitted to ALS Global in Moncton, an independent commercial laboratory for both

the sample preparation and assaying. Samples submitted through ALS are run through standard

preparation methods and analyzed using Code ME-ICP61A, which is a four-acid digestion followed by

ICP-AES analysis. Gold analysis is done by standard fire assay (GRA22) using a 50-gram sample.

Overlimit assays are done by gravimetric analysis. ALS undertakes their own QA/QC protocols including

coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.

Thistle's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the

sample stream with a stringent review of all results. QAQC and data validation were performed, and no

material errors were observed.

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Gary

Lohman, P.Geo., COO & VP Exploration of Thistle Resources Inc. and a Qualified Person as defined by

National Instrument 43-101. Mr. Lohman is not independent of the Company.

About Thistle Resources Inc.

Thistle Resources Inc. is a Canadian precious metals and critical minerals exploration company

operating in the world-famous Bathurst Mining Camp of New Brunswick, one of Canada's most prolific

mining districts. The never-drilled Brunswick Antimony Project offers blue-sky potential - a high-grade

antimony-silver-gold discovery less than 1,000 metres from the past-producing Brunswick No. 12 mine.

At the flagship Middle River Gold Project, Phase 1 and 2 drilling has confirmed gold mineralization from

surface to 130 metres along a 7-kilometre trend of mineralized folds, with an untested deeper zone from

400 metres and Phase 3 ahead. The portfolio also includes the Middle River VMS, Alba Forks Gold, and

Celtic Highland Gold projects. With exploration planned across both flagships in 2026, Thistle is

advancing two discovery stories in a single district.

ON BEHALF OF THISTLE RESOURCES INC.

"Patrick J. Cruickshank, MBA"

President & CEO - Director

T: +1.506-800-0581

[email protected]

This press release may include forward-looking information concerning the business of Thistle. Forward-

looking information is based on certain key expectations and assumptions made by the management of

Thistle. In some cases, you can identify forward-looking statements by the use of words such as "will,"

"may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict,"

"potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the

negative of these terms or similar expressions. Forward-looking information involves significant risks

and uncertainties that could cause actual results to differ materially from those anticipated. These risks

include, but are not limited to, the uncertainties involved in interpreting geological data, risks associated

with exploration and mining operations, commodity price fluctuations, the ability to obtain financing and

required permits, and regulatory restrictions. The Company's objective to define more than 2,000,000

ounces of gold at the Middle River Gold Project is a target only and is not a current mineral resource or

mineral reserve estimate as defined under National Instrument 43-101; there is no guarantee it will be

achieved. Readers are cautioned that the assumptions used in the preparation of forward-looking

information, although considered reasonable at the time of preparation, may prove to be imprecise.

Thistle undertakes no obligation to update or revise any forward-looking information except as required

by law.

* Mineralization occurring at the Lake George Antimony Mine is not necessarily indicative of mineralization on the Company's Brunswick Antimony

Project.

Thistle Resources Inc. has no affiliation with Avenir Minerals Limited, Agnico Eagle Mines Ltd., or the

Lake George Antimony Mine, and holds no interest in that project.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the

adequacy or accuracy of this release.

Thistle Resources Inc., 40 King Street West, Suite 2400, Toronto, ON M5H 3Y2

www.thistleresources.com

(506) 800-0581

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/305742

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