Thesis Gold Inc. (TSX-V: TAU) (WKN: A2QQ0Y) is pleased to announce additional drill results from the Company’s maiden drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada.

Highlights

• Drill hole 21BNZDD004 returned 13.00 metres (m) core length of 26.98 g/t Au at the Bonanza Zone; including 4.00 m of 84.92 g/t Au from a depth of only 12.00 m downhole (Table 1).
• Similarly drill hole 21BNZDD007 intersected high-grade gold mineralization from very close to surface returning 11.46 m of 22.74 g/t Au including 7.50 m of 34.63 g/t Au.
• Gold mineralization at the Bonanza zone effectively begins at surface as indicated by the shallow downhole intercepts in Table 1, which is also consistent with historical drilling results.
• Assay results continue to indicate a strong correlation between the presence of visible sulphides and elevated gold content in drilling (Figure 1).
• Thesis completed 16,139 m of drilling for its maiden program across a number of different zones that collectively includes:
  • 3808 metres (30 holes) of confirmation
  • 5159 metres (37 holes) of expansion, and
  • 7171 metres (39 holes) of exploration.

Table 1: Assay results from the Bonanza Zone

*Intervals are core-length. True width is estimated between 70-90% of core length.

Figure 1: Plan map of completed 2021 and historical drilling at the Bonanza Zone.

The Bonanza zone gold mineralization is controlled by a northwest-southeast oriented fault zone and an opposing northeast-southwest fault. This was very poorly understood historically and therefore the target was not systematically drilled. Drill hole 21BNZDD006 was designed to test the northeast limit of historical drilling on that trend. As illustrated on Figure 1 the historical drilling is predominantly parallel to the mineralizing trend, rather than perpendicular. Yet when 21BNZDD006 was drilled perpendicular it returned a broad zone of high-grade mineralization; 49.08 m of 2.07 g/t Au including 19.08 m of 4.25 g/t Au (Figure 2). This intercept demonstrates the strong continuity of mineralization from surface over broad intervals and that the mineralizing system remains strong and open to the northeast.

Ewan Webster, President and CEO, commented, “This second series of drill results from the Bonanza zone has again delivered some spectacular gold mineralization, beginning essentially at surface. Additionally, these results are starting to demonstrate that the mineralization remains strong and open at the limits of the historical drilling. With results from 99 holes from our 106-hole drill program still outstanding we anticipate strong news flow over the coming months.”

Figure 2: Cross-section showing logged alteration and gold assay histograms for hole 21BNZDD006.

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

About Thesis Gold Inc.

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the “Golden Horseshoe” area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project – https://howardgroupinc.com/thesisgoldvideos/