Thunder Gold Corp. · TSXV:TGOL
Thunder Gold — Investor Presentation (September 2026)
22 slides from Thunder Gold's investor presentation, September 2026
Slide 1: Exploration that Delivers
Exploration that Delivers Exploration that Delivers September 2026 | TSX.V: TGOL | OTCQB: TGOLF | FRA: Z25 September 2026 TSX.V: TGOL | OTCQB: TGOLF | FRA: Z25
Slide 2: Forward Looking Statements
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
Slide 3: Investment Highlights
Investment Highlights Investment Highlights Demonstrated Tier One Discovery Potential Capital Efficiency In-pit and near pit growth potential, • $0.66 / $1.00 raised goes to exploration. Untested TMIC perimeter (6.0 kms), • Average all-in drilling cost ~$250/m. • All-in Discovery Cost $3.95/oz Thund
Slide 4: Premium Location
CNR &CPR N Tower Mtn Property Hwy 11/17 Premium Location • Tower Mountain has highway, rail, and hydro at site. Thunder • Located just 40 km west of the port city of Thunder Bay, Ontario. Bay • Thunder Bay is a resource town, with a readily available workforce. • Jurisdiction is safe with no politic
Slide 5: Resource Estimate Snapshot
Resource Estimate Snapshot Resource Estimate Snapshot EV ($) / Resource ounce - August 2026 514,000 oz 3,053,000 oz 1.8:1 $180.00 $160.00 $140.00 Indicated Resource Inferred Resource Waste to Ore $120.00 $EV/oz Au 34.5 Mt @ 0.46 g/t 211.1 Mt @ 0.45 g/t Strip Ratio $100.00 $80.00 $60.00 $40.00 $20.00
Slide 6: Benchmarking Canadian Large Tonnage, Low Grade (LTLG) Projects
Benchmarking Canadian Large Tonnage, Low Grade (LTLG) Projects Benchmarking Canadian Large Tonnage, Low Grade (LTLG) Projects Resource Tonnes (Jan. 2026) Resource Grade (Jan. 2026) Strip Ratio Comparables (Jan. 2026) 700.00 1.60 8.0 1.40 7.0 Au or Au Eq (g/t) 600.00 million tonnes 500.00 1.20 6.0 Wa
Slide 7: Mineral Resource Estimate (MRE) January 2026
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 Strip Adjusted Grade (g/t AuEq) Grade Tonnes Grade Gold Tonnes Grade G
Slide 8: UV Target Recent Resource Expansion Drill Results (2026)
UV Target Recent Resource Expansion Drill Results (2026) UV Target Recent Resource Expansion Drill Results (2026) Before 2026 Phase 1 Drilling After 2026 Phase 1 Resource Expansion Program TM26-204 46 m @ 1.793 g/t Au (NOT in pit) Drilling identified low-grade mineralization external to current reso
Slide 9: Bench Target Recent Infill Drill Results (2026)
Bench Target Recent Infill Drill Results (2026) Bench Target Recent Infill Drill Results (2026) Before 2026 Phase 2 Drilling After First Two Holes of 2026 Phase 2 Infill Program TM21-107/107X 340 m @ 0.530 g/t Au (In pit) 18.2 m @ 1.665 g/t Au TM26-210 516 m @ 0.503 g/t Au (In pit) 24 m @ 1.815 g/t
Slide 10: Bench Target Average Drilled Grade (Au g/t) by Depth from Surface
Bench Target Average Drilled Grade (Au g/t) by Depth from Surface Bench Target Average Drilled Grade (Au g/t) by Depth from Surface Average Grade (Au g/t) From Surface Latest results suggest gold grade 0.7 is increasing with depth. 0.6 TM26-210 0.5 24.0 metres @ 1.815 g/t Au 0.4 Average grades have
Slide 11: Paragenisis
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 F
Slide 12: Exploration Vectors Indicate Opportunity for Resource Growth
Exploration Vectors Indicate Opportunity for Resource Growth Exploration Vectors Indicate Opportunity for Resource Growth 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 (sho
Slide 13: Thunder Lake Fault Trend Doubles Resource Opportunity
Thunder Lake Fault Trend Doubles Resource Opportunity Thunder Lake Fault Trend Doubles Resource Opportunity 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 /
Slide 14: Metallurgy
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% All lithologies and
Slide 15: Risks and Opportunities
Risks and Opportunities Risks and Opportunities Risks Opportunities Gold Price If you believe gold price will drop, why are Gold Price Strong leverage to gold price you here? Resource Post 2026 MRE Drilling indicates excellent Resource 3.5 M oz current resource hosted in 15% of correlation wrt grade
Slide 16: Project Roadmap
Project Roadmap Project Roadmap Q1 Q3 Q1-2027 5,000 metres Definition Drilling 5,000 metres Definition Drilling Environmental Baseline 2,500 metres Exploration Drilling 10% COMPLETE Cultural Studies COMPLETE 5,000 metres Expansion Drilling Preliminary Engineering COMPLETE Q2 Q4 7,500 metres Definiti
Slide 17: 2026 Exploration Drilling
2026 Exploration Drilling 2026 Exploration Drilling TMIC September 2026 TSX.V: TGOL | OTCQB: TGOLF | FRA: Z25 17
Slide 18: Cash Costs of Production, Actual vs. Estimated | Canada (2025)
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 $1,400 Agnico Eagle Mines “Goal posts” Theoretical Range - Tower Mountain Detour Lake LTLG- OP @ 0.85 g/t (1.29 g
Slide 19: Corporate Overview
Corporate Overview Corporate Overview Insiders TSX.V: TGOL 18% Ticker Symbols & Exchanges OTCQB: TGOLF FRA: Z25 Retail High 55% Net Worth Issued & Outstanding 326.6M 23% Options* 23.5M Institutional 4% Warrants** 72.3M Treasury Fully Diluted 422.5 M (Sept. 2026) Market Capitalization*** (C$) $57.8M
Slide 20: Management & Board
Management Board|Experienced leadership with track record of discovery and mine-building Management & Board | Experienced leadership with track record of discovery and mine-building MAN A G EME N T BO A RD O F D I REC TO RS Wes C. Hanson P.Geo. Dr. E. Strashin Chair, Audit Committee Chair CEO & Pres
Slide 21: Why Invest Now
Why Invest Now Why Invest Now District-Scale Potential Attractive Entry Point A stand-alone opportunity with exceptional grade consistency. Current valuation reflects only a fraction of what has been demonstrated, creating strong leverage to future discoveries. Clear Path to Value Creation Disciplin
Slide 22: Contact
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. September
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