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

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

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

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/cm³ 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

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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