Thunder Gold Corp. · TSXV:TGOL
Thunder Gold — Investor Presentation (October 2026)
25 slides from Thunder Gold's investor presentation, October 2026
Slide 1: Exploration that Delivers
Exploration that Delivers October 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 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 Discovery Potential Capital Efficiency In-pit and near pit growth potential, • $0.66 / $1.00 raised goes to exploration. • Average all-in drilling cost ~$250/m. Untested TMIC perimeter (6.0 kms), • All-in Discovery Cost $3.95/oz Thunder Lake Trend (5.0 kms
Slide 4: Premium Location
CNR &CPR N Tower Mtn Property Hwy 11/17 Premium Location • Tower Mountain has highway, rail, and hydro at site. Thunder • Located just 40 km west of the port city of Thunder Bay, Ontario. Bay • Thunder Bay is a resource town, with a readily available workforce. • Jurisdiction is safe with no politic
Slide 5: Resource Estimate Snapshot
Resource Estimate Snapshot EV ($) / 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 $- US$3,000 US$19.90 C$3.9
Slide 6: 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 Au or Au Eq (g/t) 600.00 7.0 million tonnes 500.00 1.20 6.0 Waste:Ore 400.00 1.00 5.0 0.80 4.0 300.00 0.60 200.00 3.0 0.40 2.
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 Grade Tonnes Grade Gold Tonnes Grade Gold Tonnes Ratio (Au g/t) (Au g/t) (Au oz) (Au g/t) (Au oz) (waste:ore) Optio
Slide 8: Strip Adjusted Grade
Strip Adjusted Grade Strip Adjusted Grade (g/t AuEq) 0.200 0.180 0.160 Strip Adjusted Grade (Atrium Research, 2026) 0.140 Reported Resource Grade / (1+ Reported Strip Ratio). 0.120 TM’s 1.8:1 strip ratio levels the playing field with Canadian LTLG Peer Au Eq g/t 0.100 Group. 0.080 Current all-in cos
Slide 9: Paragenesis
Paragenis 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 Di
Slide 10: 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 (shown) is the primary exploration vector as it highlights magnet
Slide 11: 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 / 9.8m BL97-01 0.240 g/t Au / 83.5m September 2026 TSX.V
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 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 Definition Drilling 60%
Slide 14: Q4 2026 Exploration Drill Plan (7,000 m)
Q4 2026 Exploration Drill Plan (7,000 m) Q4 exploration focus is entirely on conversion of Inferred to Indicated; Drilling shall concentrate along the Bench-3738- Ellen corridor (~3.0 M ozs of 2026 MRE); Objectives are 1.5M ozs Indicated, 3.5 M ozs Inferred, 5.0 M ozs total; TMIC Western continuatio
Slide 15: TM26-217 Cross Section
TM26 217 CROSS SECTION TMIC From To Length Grade (m) (m) (m) (Au g/t) 9.0 600.0 591.0 0.209 9.0 262.5 253.5 0.030 262.5 271.5 9.0 0.532 271.5 360.0 88.5 0.063 360.0 600.0 240.0 0.438 360.0 385.5 25.5 0.243 385.5 418.5 33.0 1.383 418.5 463.5 45.0 0.076 463.5 517.5 54.0 0.530 517.5 592.5 75.0 0.278 59
Slide 16: TM26-204 Cross Section
TM26 204 CROSS SECTION TMIC From To Length Grade (m) (m) (m) (Au g/t) 45 m @ 1.793g/t Au 9.0 402.0 393.0 0.311 Outside pit limit 9.0 50.0 41.0 0.047 50.0 87.5 37.5 0.124 87.5 108.5 21.0 0.216 108.5 141.5 33.0 0.123 141.5 156.5 15.0 0.307 156.5 276.5 120.0 0.134 276.5 321.5 45.0 1.793 321.5 402.0 80.
Slide 17: Section 5377500 N
SECTION 5377500 N SECTION TM21-107/107X VIEW DIRECTION 340 m @ 0.530 g/t Au (In pit) From To Length Grade 18.2 m @ 1.665 g/t Au (m) (m) (m) (Au g/t) 45 m @ 1.1.793g/t Au 6.0 750.0 744.0 0.504 Outside pit limit 6.0 88.5 82.5 0.069 88.5 750.0 661.5 0.554 TM26-210 196.5 211.5 15.0 1.650 516 m @ 0.503 g
Slide 18: Predictive Accuracy
Predictive Accuracy Modeled Grade Versus Actual Grade - 2026 0.600 0.500 0.400 Grade (Au g/t) YTD 10,800 metres completed (~60% 0.300 exploration); TMIC 0.200 Currently drilling suggests a 20% increase relative to modeled grade; 0.100 0.000 Modeled Actual September 2026 TSX.V: TGOL | OTCQB: TGOLF |
Slide 19: Grade Increasing with Depth
Grade Increasing w Depth 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 increased Au g/t by 90% to the -450m level. 0.3 Increased drill density will allow 0.2 +1.0 g/t population
Slide 20: Risks and Opportunities
Risks and Opportunities Risks Opportunities Gold Price Universal risk for all, mitigated by infrastructure. Gold Price Strong leverage to gold price. Resource Infill drilling indicates excellent correlation. Resource 11 kms of undrilled targets. to 2026 MRE. Actual to model suggests 10-20% grade inc
Slide 21: 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$) $57.8M ~C$ 3.5 M *($0.05 -
Slide 22: 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 23: Why Invest Now
Why Invest Now 1 District-Scale Potential A stand-alone opportunity with exceptional grade consistency. 5 Attractive Entry Point Current valuation reflects only a fraction of what has been demonstrated, creating strong leverage to future discoveries. 2 Clear Path to Value Creation Disciplined, well-
Slide 24: 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 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 g/t (0.59 g/t AuEQ) 2 Impact of Gr
Slide 25: 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 2026 TSX