Thunder Mountain Gold Announces Private Placement Financing

Rhea-AI Summary

Thunder Mountain Gold (OTCQB: THMG) has announced a non-brokered private placement offering of up to 1,000,000 units at US$0.25 (CAD$0.35) per unit, aiming to raise up to US$2.5 million (CAD$3.5 million). Each unit includes one common share and a half warrant, with each full warrant exercisable at US$0.40 (CAD$0.55) for 24 months.

The company's primary asset is the South Mountain Mine in Idaho, a historic polymetallic project containing zinc, silver, gold, lead, and copper. Historical production from the mine averaged grades of 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 1.4% Cu, and 2.4% Pb. The proceeds will support exploration activities and general working capital.

Positive

• Private placement to raise up to US$2.5 million for exploration and working capital
• Company owns South Mountain Mine with historically high-grade polymetallic deposits
• Project located on private land with straightforward permitting process
• Historical production showed exceptional grades: 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au

Negative

• Shares will be subject to a four-month hold period
• Offering limited to accredited investors only
• Dilution for existing shareholders through new share issuance
• Securities will be restricted under U.S. Securities Act

Vancouver, British Columbia and Boise, Idaho--(Newsfile Corp. - October 2, 2025) - Thunder Mountain Gold, Inc. (TSXV: THM) (OTCQB: THMG) (the "Company" or "Thunder Mountain") is pleased to announce that its board of directors has approved a non-brokered private placement of up to 1,000,000 units of the Company (each, a "Unit") at a price of US$0.25 (CAD$0.35) per Unit for gross proceeds of up to US$2,500,000 (CAD$3,500,000) (the "Private Placement"). Each Unit will consist of one share of the Company's common stock (each, a "Common Share") and one-half common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional share of common stock of the Company at a price of US$0.40 (CAD$0.55) for a period of 24 months from the date of issuance. Subject to regulatory approval, the Company may close the Private Placement in one or more tranches.

The proceeds raised pursuant to the Private Placement will be used for exploration and for general working capital.

The Company has received conditional approval of the TSX Venture Exchange to the completion of the Private Placement and closing remains subject to satisfaction to the conditions required by the TSX Venture Exchange.

The Private Placement will be made on a private placement basis to accredited investors only pursuant to exemptions from prospectus and registration requirements of applicable securities laws. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States or to "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions therefrom. The securities issued in the Private Placement will be "restricted securities" under the U.S. Securities Act. The securities issued in the Private Placement will be subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities legislation.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful.

Regarding Thunder Mountain Gold, Inc.

Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and precious metals projects in the western U.S. The Company's principal asset is The South Mountain Mine, a historic former Anaconda Mining development of zinc, silver, gold, lead, and copper, located on private land in Owyhee County Idaho. Thunder Mountain Gold also owns 100% of the Trout Creek Project - a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a Barrick and Newmont Gold, Inc. joint venture. For more information on Thunder Mountain Gold, please visit the Company's website at www.Thundermountaingold.com.

The South Mountain Project

The South Mountain Mine is a polymetallic development project containing high-grade zinc, silver, gold, and copper, and is located on private land approximately 70 miles southwest of Boise, Idaho (See Figure 1 above). The Project is on private land, permitting has been, and should remain straightforward. The Project was intermittently mined from the late from 1940s to the late 1960s, most notably by Anaconda Copper, with over 4,000 feet of underground developmental workings that that have been rehabilitated, re-engineered, and are MSHA compliant. Thunder Mountain Gold Inc. purchased and advanced the project from 2007 through Present, with expenditures into the project of approximately US$25 million. Historic test mining and processing at the Project has mostly come from high-grade Carbonate Replacement Deposits (CRD) and skarn zones that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material have been mined and direct shipped to the smelter, with average grades; 14.5% Zn, 10.6 o.p.t. Ag (363.42 g/t Ag), 0.058 o.p.t. Au (1.98 g/t Au), 1.4% Cu, and 2.4% Pb were realized (See SK-1300 Technical Resource Statement, and NI 43-101 Technical Report: Updated Mineral Resource Estimate for the South Mountain Project, dated December 31, 2023, and December 15, 2023, respectively. More details are available on the Thunder Mountain Gold Inc. website and at www.SEC.gov, and www.sedar.com).

Technical Data in this Release

The technical information in this news release was reviewed and approved by Tyson Forbush, C.P.G., consulting geologist with GeoTech LLC, and a "Qualified Person" as defined by the U.S. SK-1300 regulations & National Instrument 43-101 (Canada) standards.

Forward-Looking Statements

This press release contains forward-looking statements that are based on the beliefs of management and reflect the Company's current expectations. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "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. By their nature, forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required in accordance with applicable laws.

Cautionary Note to Investors

Neither the TSX Venture Exchange nor its Regulation 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
eric@thundermountaingold.com
Office: (208) 658-1037

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268877

FAQ

What are the terms of Thunder Mountain Gold's (THMG) private placement offering?

The company is offering up to 1,000,000 units at US$0.25 per unit, with each unit consisting of one common share and one-half warrant. Each full warrant allows purchase of one additional share at US$0.40 for 24 months.

How much money is Thunder Mountain Gold (THMG) trying to raise?

Thunder Mountain Gold aims to raise up to US$2.5 million (CAD$3.5 million) through this private placement offering.

What are the historical production grades from Thunder Mountain's South Mountain Mine?

Historical smelter records show average grades of 14.5% Zinc, 363.42 g/t Silver, 1.98 g/t Gold, 1.4% Copper, and 2.4% Lead.

How will Thunder Mountain Gold use the proceeds from the private placement?

The proceeds will be used for exploration activities at their mining projects and for general working capital purposes.

What restrictions apply to the securities issued in THMG's private placement?

The securities will have a four-month hold period under TSX Venture Exchange policies and Canadian securities legislation, and will be 'restricted securities' under U.S. Securities Act.