Thunder Gold Corp. · TSXV:TGOL
Thunder Gold — Investor Presentation (May 2026)
19 slides from Thunder Gold's investor presentation, May 2026
Slide 1: Exploration that Delivers
Exploration that Delivers May 2026 | TSX.V: TGOL | OTCQB: TGOLF | FRA: Z25 May 2026 TSX.V | OTCQB:TGOLF | FRA:Z25
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements included in this presentation are forward-looking statements which are made pursuant to the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. They include estimates and statements that describe the Company’s
Slide 3: Investment Highlights
Investment Highlights Demonstrated Tier One Capital Efficiency Discovery Potential • $0.66 / $1.00 raised goes to exploration. In-pit growth. Near pit growth, TMIC • Average all-in drilling cost ~$275/m. perimeter (6 kms), new trend (5 kms). • All-in Discovery Cost $3.95/oz Strategic Location Signif
Slide 4: Premium Location
CNR &CPR Ontario N Tower Mtn Canada Property Thunder Bay Hwy 11/17 Premium Location • Tower Mountain has highway, rail, and hydro at site. Thunder • Located just 40 km west of the port city of Thunder Bay, Ontario. Bay • Thunder Bay is a resource town, with a readily available workforce. • Jurisdict
Slide 5: Resource Estimate Snapshot
Resource Estimate Snapshot Enterprise Value per Au oz (Jan. 2026) 514,000 oz 3,053,000 oz 1.8:1 $250.00 Indicated Resource Inferred Resource Waste to Ore $200.00 34.5 Mt @ 0.46 g/t 211.1 Mt @ 0.45 g/t Strip Ratio $150.00 C$ $100.00 $50.00 US$3,000 US$19.90 C$3.95 $- Gold Price Operating costs All in
Slide 6: Benchmarking Canadian Large-Tonnage, Low-Grade (LTLG) Projects
Benchmarking Canadian Large-Tonnage, Low-Grade (LTLG) Projects Resource Tonnage (Jan. 2026) Resource Grade (Jan. 2026) Strip Ratio Comparables 700.00 2.50 8.0 7.0 Au or Au Eq (g/t) 600.00 million tonnes 2.00 6.0 500.00 Waste:Ore 400.00 1.50 5.0 300.00 4.0 1.00 3.0 200.00 0.50 2.0 100.00 1.0 0.00 0.0
Slide 7: Mineral Resource Estimate (MRE) – January 2026
Mineral Resource Estimate (MRE) – January 2026 Optionality to increase average grade through sequencing INDICATED INFERRED Cut-off Ore Average Contained Ore Average Contained Waste Strip MRE Assumptions (all $ in $US) Grade Tonnes Grade Gold Tonnes Grade Gold Tonnes Ratio (Au g/t) (Au g/t) (Au oz) (
Slide 8: Exploration Opportunities
Exploration Opportunities Multiple Paths to Increase the Resource 1 Uniform Mineralization Uniform gold grades in ALL rock types from surface to 500m depth. 2 In-Pit Potential 20-25% of the pit shell is un-estimated and currently considered to be waste. 3 Near-Pit Potential Numerous opportunities to
Slide 9: Paragenisis
Paragenisis Intermediate Metavolcanics Tower Mountain Intrusive Complex Feldspar Porphyry Timiskiming Sediments Hydrothermal Brecciation Amphibolization Epidotization Carbonatization, Sericitization, Chloritization Pyritization + Au Veining Quartz +/- Carbonate +/- Chlorite +/- Au Late Felsic-Mafic
Slide 10: Exploration Vectors
Exploration Vectors Long-term resource growth from remaining 80% (7,000 m) of alteration halo and depth extension of system. Outcrop is minimal, less than 25% within the claim package. Heli-Mag (shown) is the primary exploration vector as it highlights magnetic destruction surrounding the TMIC (blue
Slide 11: STAR DISCOVERY
STAR DISCOVERY New identified 5,000 metre trend of Timiskaming Conglomerate up to 100 metres wide. TM26-193 0.779 g/t Au / 15.0 m TM26-194 0.832 g/t . 15.0 m S97-2 0.82 g/t Au /16.0 m BL96-01 0.255 g/t Au / 9.8m BL97-01 0.240 g/t Au / 83.5m May 2026 TSX.V | OTCQB:TGOLF | FRA:Z25 11
Slide 12: Metallurgy
Metallurgy HOLE ID From (m) To (m) Interval (m) Grade (Au g/t) Recovery (%) TM21-121 194.00 197.00 3.00 0.267 79.6% Sixteen representative samples. TM21-111 200.00 203.00 3.00 0.377 90.8% Two independent , accredited laboratories. TM22-128 32.00 72.50 40.50 0.450 90.0% TM21-95 157.50 160.50 3.00 0.4
Slide 13: Project Roadmap
Project Roadmap Q1 Q3 Q1-2027 Phase 1 5,000 metres Definition Drilling Environmental Baseline 5,000 metres Definition Drilling 5,000 metres Expansion Drilling Cultural Studies 2,500 metres Expansion Drilling Preliminary Engineering Q2 Q4 7,500 metres Definition Drilling MRE Update Metallurgical Test
Slide 14: 2026 Exploration Drilling
2026 Exploration Drilling Discovery Drilling 2,000 m @ $150 / m (Ontario Junior Exploration Program grants reduce cost per metre by 50%). Resource Growth 8,000 m @ $300 / m 2026 Proposed DHs Deep holes (+600 m) targeting Inferred Resource Replacement under MRE pit limit. Resource Definition 15,000 m
Slide 15: Cash Costs of Production, Actual vs. Estimated | Canada (2025)
Cash Costs of Production, Actual vs. Estimated | Canada (2025) Canadian Producers & LTLG Developers Cash Cost of Production $1,400 Theoretical Range - Tower Mountain 1 Agnico Eagle Mines “Goal posts” Detour Lake LTLG- OP @ 0.85 g/t (1.29 g/t Au) (0.47 g/t AuEQ) $1,200 Macassa –High Grade- UG @ 15.55
Slide 16: Corporate Overview
Corporate Overview Insiders TSX.V: TGOL 18% Ticker Symbols & Exchanges OTCQB: TGOLF FRA: Z25 Retail High 55% Net Worth Issued & Outstanding 306.8M 23% Options* 24M Institutional 4% Warrants** 91.7M Treasury Fully Diluted 422.8M (May 2026) Market Capitalization (C$) 33.7M ~C$ 4.5M *($0.05 - $0.15 str
Slide 17: Management & Board
Management & Board | Experienced leadership with track record of discovery and mine-building M AN A GEM EN T BOARD OF DI RECT ORS Wes C. Hanson P.Geo. Dr. E. Strashin Chair, Audit Committee Chair CEO & President Former medical practioner, past President and CEO of TGOL precursor companies Canadian G
Slide 18: Why Invest Now
Why Invest Now 1 District-Scale Discovery Potential A large mineralized system showing exceptional grade consistency. 5 Attractive Entry Point Current valuation reflects only a fraction of what has been demonstrated, creating strong leverage to further discoveries. 2 Clear Path to Value Creation Wel
Slide 19: Contact
Contact Wes Hanson, CEO & President whanson@thundergoldcorp.com David Speck, CFO & Corporate Secretary dspeck@thundergoldcorp.com Thunder Gold Corp. 128-1100 Memorial Ave., Thunder Bay, ON P7B 4A3 TSX.V: TGOL | OTCQB: TGOLF | FRA: Z25 Overhead view of drill site at Tower Mountain. May 2026 TSX.V | O