Thunder Gold Reports 1.793 g/t Au over 45.0 metres at UV Target Advancing Tower Mountain Resource Growth Strategy

About this update from Thunder Gold Corp.

Thunder Bay, Ontario--(Newsfile Corp. - July 16, 2026) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) (" Thunder Gold " or the " Company ") is pleased to announce exploration diamond drill results from the UV Target, at the Company's flagship Tower Mountain Property, 40 kilometres west of Thunder Bay, Ontario. Six (6) holes totaling 2,937 metres targeted the down-dip projection of the main mineralized trend observed in historical diamond drill holes completed from 2002 to 2005. Three (3) holes, TM26-198, 199 and 200 targeted the projected trend 100 to 150 metres below the current bottom of the optimized pit constraining the Company's 2026 Mineral Resource Estimate (the " MRE "). The remaining holes targeted gaps in the MRE where there was insufficient drill data to estimate gold grades. Key results from the program include: Full assay results, including hole locations, orientations and section references, are provided in Tables 1 and 2 below. Drilling has confirmed that the main mineralized trend at UV continues at depth and remains open, with grades and widths consistent with historical drilling and the 2026 MRE. Importantly, multiple new zones of mineralization above the 2026 MRE cut-off grade of 0.19 g/t Au were intersected in areas previously modeled as waste, providing potential to reduce the current 1.8:1 waste-to-ore strip ratio defined within the optimized pit. Wes Hanson, President and CEO states, "These results materially advance our understanding of the UV Target and reinforce the continuity of gold mineralization below and adjacent to the current pit shell. The step-out holes confirm that the low-grade core at UV continues at depth and remains open, while the shallow holes have identified new zones of near-surface mineralization in areas previously modeled as waste. Together, this work supports our objective of growing and upgrading the Tower Mountain resource, improving the strip ratio and enhancing the overall economics of a potential open-pit operation."

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