Business
Thunder Gold Closes $2.5 Million Financing Led by a Strategic Investor
Thunder Bay, Ontario--(Newsfile Corp. - March 18, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z...
About this update from Thunder Gold Corp.
[{"type":"text","content":"Thunder Gold Closes $2.5 Million Financing Led by a Strategic InvestorThunder Bay, Ontario--(Newsfile Corp. - March 18, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) (\"Thunder Gold\" or the \"Company\") is pleased to announce that the Company has closed its previously announced non-brokered private placement of 25,000,000 units of the Company (the \"Units\") at a price of $0.10 per Unit, for total proceeds of $2,500,000 (the \"Offering\"). The financing was led by a strategic investor in the mining sector (the \"Strategic Investor\").Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one (1/2) common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant being exercisable for an additional Common Share of the Company at an exercise price of $0.15 for 18 months from the date of issue.Proceeds from the Offering shall be used to fund ongoing exploration and definition drilling at the Company's 100%-owned, 2,100-hectare, Tower Mountain Gold Property, located in the Shebandowan Greenstone Belt, 40 kilometres west of the international port city of Thunder Bay, Ontario, and for general working capital purposes. Wes Hanson, President and CEO states, \"This financing allows us to increase our current drill program by an additional 7,500 metres, all of which will focus on resource definition and expansion within the 2026 mineral resource announced on January 26, 2026. A second diamond drill has been mobilized to the Tower Mountain property to fast-track the planned drilling in advance of a mineral resource update and accompanying Scoping Study (Preliminary Economic Assessment) currently planned for Q4, 2026. We estimate Phase One drilling will total 15,000 metres with a targeted completion date of September 2026.\" On January 26, 2026, the Company announced a mineral resource estimate for Tower Mountain as summarized in Table 1. The estimate was prepared by Micon International Limited (\"MICON\"), Toronto, Ontario, Canada, an independent engineering firm specializing in mineral resource and reserve estimation for a global client pool.Table 1. Tower Mountain Mineral Resource Estimate - January 19, 2026CategoryTonnage(Mt)Grade(g/t Au)Contained Metal('000 oz gold)Indicated 34.50.46 514Inferred211.10.453,053 Notes:The effective date of this Mineral Resou...