Thunder Mountain Gold Significantly Increases Land Position at The South Mountain Property
Rhea-AI Summary
Thunder Mountain Gold (OTCQB:THMG) secured a 20-year mineral lease with the Idaho Department of Lands covering about 3,675 acres adjacent to the South Mountain Property in Owyhee County, Idaho. The lease, effective March 1, 2026, expands the district-wide land position and supports exploration, development, and potential mining.
Approved by the Idaho State Land Board and signed May 20, 2026, it aligns with the company's focus on critical minerals and follows 2025 exploration work that identified encouraging porphyry potential and multiple high-priority targets.
Positive
- 20-year mineral lease on approximately 3,675 acres of Idaho state land
- Expanded district-wide land position at South Mountain Property
- Lease approved by Idaho State Land Board and signed by the Governor
- 2025 exploration identified encouraging porphyry potential in broader project area
- Multiple high-priority targets highlighted within newly consolidated land package
Negative
- None.
News Market Reaction – THMG
On the day this news was published, THMG gained 1.90%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Boise, Idaho--(Newsfile Corp. - June 1, 2026) - Thunder Mountain Gold, Inc. (OTCQB: THMG) (TSXV: THM) ("Thunder Mountain Gold" or the "Company") is pleased to announce that it has secured a 20-year mineral lease ("Lease") with the Idaho Department of Lands ("IDL" or the "Lessor"), through its wholly owned subsidiary, South Mountain Mines Inc., covering approximately 3,675 acres of state-owned land adjacent to the Company's South Mountain Mines Property in Owyhee County, Idaho. The Lease expands the Company's district-wide land position at South Mountain and supports continued exploration, development, and potential mining across a highly prospective area.
The Lease has an initial 20-year term, commencing March 1, 2026, and expiring February 28, 2046, with extension rights subject to Idaho law and agreement with the Lessor. The Lease and associated commitments underscore the Company's long-term investment in the project and its contribution to Idaho's critical minerals development. The mineral Lease was approved by the Idaho State Land Board and signed by Governor Brad Little on May 20, 2026.
Eric T. Jones, President and CEO of Thunder Mountain Gold, commented: "This Lease significantly strengthens our South Mountain land position and advances our district-wide exploration strategy. With this expanded footprint, we are better positioned to evaluate the broader mineral potential of the South Mountain Complex and pursue opportunities to enhance long-term project value. We appreciate the State of Idaho's constructive support for responsible resource development."
Thunder Mountain Gold has continuously advanced the South Mountain Mine and surrounding district since 2007. While work through 2024 focused primarily on the underground silver-rich polymetallic resource, the broader surrounding area remained comparatively underexplored. The Company's 2025 exploration work consisting of geophysical surveys, field mapping and sampling has identified encouraging porphyry potential across the broader project area. Follow-up mapping and geophysical work have highlighted multiple trends within the newly consolidated land package, and the Company plans additional geophysical programs to further assess these high-priority targets.
About the Idaho Department of Lands
The Idaho Department of Lands manages over 3.4 million acres of state endowment trust land, with a mandate to maximize revenue for the benefit of public schools and other institutions. Mineral leasing is a key component of this mission, contributing to Idaho's economic development and educational funding.
Additional Land Acquisition
The Company has also purchased 113 acres of private land contiguous with the main mine area. This acquisition includes strategic exploration ground associated with the Gold Breccia target and supports continued advancement of the South Mountain project. In addition, the Company has recently located 423 mineral lode claims on adjoining BLM lands totaling approximately 8,200 acres and secured a lease on an additional 1,073 acres of private land in and around the project area.
With the State of Idaho lease, the above land acquisition and new mining claims, the property position has increased by a total of 13,061 acres or about twenty (20) square miles.
Commitment to Responsible Stewardship
Throughout its 90-year history, the Company has maintained a strong commitment to responsible environmental stewardship across its land holdings in Idaho. In 2005, the Company sold the Thunder Mountain Mine in Valley County, Idaho, to the U.S. Forest Service and donated thousands of acres for conservation through Trust for Public Land, a national nonprofit organization dedicated to expanding access to the outdoors.
The Company remains committed to complying with all regulatory requirements and implementing best practices to ensure environmental stewardship and community engagement through each step in the project.
The South Mountain Project
The South Mountain Mine is a polymetallic development project containing high-grade zinc, silver, gold, and copper, located on private land approximately 70 miles southwest of Boise, Idaho. The project was intermittently mined from the late 1940s through the late 1960s, most notably by Anaconda Copper, and includes more than 4,000 feet of rehabilitated underground development that is MSHA compliant. Thunder Mountain Gold has advanced the project since 2007 and invested approximately US
Technical Data in this Release
The technical information in this news release was reviewed and approved by Steven A. Osterberg, Ph.D., P.G., Q.P. consulting geologist, and a "Qualified Person" as defined by the U.S. SK-1300 regulations & National Instrument 43-101 (Canada) standards.
Regarding Thunder Mountain Gold, Inc.
Thunder Mountain Gold Inc., founded in 1935, is a junior exploration company with interests in base and precious metals projects in the western United States. It had its start in the Thunder Mountain Mining District in central Idaho; in 2005 the Company sold its patented and unpatented mining claims and interest to the Trust for Public Lands and the US Forest Service. Today, its principal asset is the South Mountain Mine, a historic former Anaconda Copper Company development of zinc, silver, gold, lead, and copper located on private land in Owyhee County, Idaho. The Company also owns
Cautionary Note to Investors
This news release is intended for release in the United States only. Neither the TSX Venture Exchange, the OTCQB, nor either of 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/299580