Thunder Gold Reports 411.0 Metres Averaging 0.514 g/t Au and Awards Magnetotellurics Airborne Survey of Tower Mountain

Table 1.0 - B-E Target - Drill Hole Location Bearing and Dip

Figure 1.0 Bench Target Diamond Drill Plan - October 13, 2026

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TM25-186/186X

TM25-186 was originally drilled and reported in 2025. TM25-186X extended the original hole 252.0 metres. The combined hole parallels the northern B-E Target contact (Reference Figure 1.0). TM26-186X targeted inferred resource blocks within the optimized pit limit constraining the current MRE.

TM25-186/186X is positioned approximately 125 metres vertically above TM26-210 - 115 metres averaging 0.67 g/t Auand 250 metres below TM26-218 - 99.0m averaging 0.352 g/t Au(Reference Figure 2.0).

TM25-186/186X is mineralized from surface to the end of the hole. Table 2.0 summarizes the significant results and Table 3.0 presents the individual assays from the collar to the end-of-hole. TM25-186X intersected two narrow intervals of barren to low grade gold values over continuous down-hole intervals up to 12.0 metres in length. Otherwise, the hole is consistently mineralized from the collar to the end of the extension.

TM26-186X is the first hole where the interpreted B-E Target contact was not intersected where interpreted. The hole remained in mineralization for a horizontal distance of approximately 75 metres beyond the previously interpreted contact.

Due to the alignment and the fact that TM25-186X failed to exit the mineralization, true width cannot be estimated for this hole.

Table 2.0 - TM25-186/186X Significant Results

TM25-186/186X continues to suggest strong sub-vertical continuity within the B-E Target contacts. Both higher grade intervals internal to the contacts as well as barren, late mafic dikes exhibit sub-vertical continuity, essentially paralleling the interpreted contact of the Tower Mountain Intrusive Complex ("TMIC") at depth.

Figure 2.0 - Cross Section TM25-186X

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MagnetoTellurics Airborne Survey

Expert Geophysics Surveys Inc. (" EGS") has been contracted to complete a Mobile Magnetotellurics (" MobileMT") airborne survey of the TMIC and the magnetic low halo surrounding the TMIC outward for at least 500 metres based on current airborne magnetic surveys. A total of 285-line kilometres, spaced 100 metres apart, shall be flown in an east-west orientation across the TMIC and the prospective halo mineralization.

Numerous case studies, largely from porphyry copper-gold deposits worldwide, suggest Mobile MT can effectively isolate resistivity variation to depths of up to 2.0 kilometres from surface. The Company believes that alteration effectively controls gold mineralization and alteration can be effectively mapped from resistivity response.

The proposed 285 line-kilometre Mobile MT is planned to be completed by October 31, 2026, with initial results available by November 15th, in advance of the final drill holes planned for the 2026 field season.

Table 3.0 -TM25-186/186X Complete Results

Table 3.0 -TM25-186/186X Complete Results (continued)

Table 3.0 -TM25-186X Complete Results (continued)

MRE Reconciliation

Reconciliation of drill results to date for the Bench Target relative to the 2026 MRE model suggest an overall grade increase relative to model-predicted grades. Figure 3.0 presents a summary of model-predicted grades compared to actual drilled grade for the eight (8) infill holes completed to date. All eight holes post-date the 2026 MRE model and therefore can be compared directly to model-predicted grades to measure the predictive accuracy of the model.

The results indicate significant variation on a hole-by-hole basis, ranging from a low of -38% (TM26-214) to a high of 100% (TM26-210). This is typical and within expected tolerances. On a weighted average basis, the comparison suggests that actual drilled grades are ~10% higher than the predicted modeled grade.

Similar results are observed for the project to date drilling which includes the exploration holes completed at the UV Target and the holes drilled along the eastern margin of the 2026 MRE optimized pit limit, targeting the large un-estimated portion of the model (Reference Figure 4.0). This data set also suggests that drilled grades are returning higher values than what is currently predicted by the 2026 MRE.

Both analyses exclude mineralization intersected outside the 2026 MRE model limit, specifically, the high-grade results intersected in holes TM26-210 and TM23-137X that extend beyond the base of the 2026 MRE model.

Figure 3.0 - Modelled Grade Versus Drilled Grade, Infill Drilling, 2026; Weighted by Interval Length

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Figure 4.0 - Modelled Grade Versus Drilled Grade, Exploration Drilling, 2026; Weighted by Interval Length

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Quality Assurance and Quality Control

Diamond drilling utilizes NQ diameter tooling. The core is received at the on-site logging facility where it is photographed, logged for geotechnical, physical properties and geological data. Samples are identified, recorded, and cut in half by wet diamond saw. Half the core is sent for assay at an accredited laboratory with the remaining half core stored on site. A standard sample length of 1.5 meters is typically employed, varying only at major lithological contacts.

Certified standards and blanks are randomly inserted into the sample stream and constitute approximately 10% of the sample stream. Certified standards and blank performance is monitored with any failures evaluated and investigated to determine if said failure is a result of error during submission. Any unexplained failures are identified and the five samples preceding and following the failure are re-assayed. Commencing in 2026, duplicate pulps are prepared at a rate of 1 in every 20 samples. The duplicate pulps are sent to a second independent analytical facility for analyses.

Activation Laboratories Ltd., Thunder Bay, Ontario, ISO/IEC 17025:2017 is the primary independent analytical service provider.

AGAT Laboratories, Thunder Bay, Ontario, ISO/IEC 17025:2017 is the secondary, independent analytical facility.

Samples are, received, dried, crushed to 80% passing 2.0 mm. A 250-gram sample is split and pulverized. Samples are analyzed for gold using a 30-gram lead collection fire assay fusion (FA) with an atomic absorption (AAS) finish. All assay results greater than 5.0 g/t Au are re-assayed using a gravimetric analysis. All assays greater than 30.0 g/t Au are re-assayed using screen metallics where a representative 1000-gram sample is split sieved at 149µm. Assays are performed on the entire +149 µm fraction and two splits of the -149 µm fraction. A final assay is calculated based on the weight of each size fraction.

Qualified Person

Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established by NI 43-101.

About the Tower Mountain Gold Property

The 7,625-hectare, 100%-owned Tower Mountain Property is beside the Trans-Canada highway, 40-km west of Thunder Bay, Ontario (pop. 120,000). Gold mineralization occurs in variably brecciated and altered rocks surrounding the calc-alkalic Tower Mountain Intrusive Complex (" TMIC"). Drilling to date has established an initial mineral resource parallel to the western contact of the intrusion representing approximately 25% of the TMIC halo.

The MRE has an effective date of January 19, 2026. A Technical Report titled "NI 43-101 Technical Report for the 2026 Mineral Resource Estimate on the Tower Mountain Project, Ontario, Canada." is available on the Company's website at www.thundergoldcorp.com and on SEDAR+ ( www.sedarplus.ca ) under the Company's Issuer profile.

The Report was prepared by Charley Murahwi, P.Geo., FAusIMM.; William Lewis, P.Geo., Tudorel Ciuculescu, P.Geo., and Richard Gowans, P.Eng., all of Micon International Limited (" Micon"), Toronto, Ontario, Canada. The Report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and CIM Definition Standards of Mineral Resources and Mineral Reserves.

The MRE is summarized as follows:

Tower Mountain Mineral Resource Estimate - January 19, 2026

Notes:

1. The effective date of this MRE is January 19, 2026.

2. Messrs. William Lewis, P.Geo., Charley Murahwi, P.Geo., FAusIMM, and Tudorel Ciuculescu, P.Geo. from Micon International Limited are the Qualified Persons (QPs) responsible for this MRE.

3. The MRE has been classified in the Indicated and Inferred categories. At this time, there are no Measured resources at the Tower Mountain Project.

4. The calculated gold cut-off grade is 0.19 g/t Au.

5. An average specific gravity (SG) value of 2.77 g/cm3 was used.

6. The MRE used economic assumptions for open pit mining. The following economic parameters were used for generating the cut-off grade: a gold price of US$3,000/oz, 80% recovery, open pit mining cost of US$3.0/t, processing costs of US$8.0/t, general and administration cost of US$3.5/t, transportation cost of US$2.5/oz of gold, and a royalty of 3%.

7. The open pit used slope angles of 30° in overburden and 50° in fresh rock.

8. The block model is orthogonal and has a parent block size of 5 m x 5 m x 5 m, with minimum sub-block size of 2.5 m x 2.5 m x 2.5 m.

9. The open pit optimization used a re-blocked size of 10 m x 10 m x 10 m.

10. The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and Petroleum Standards and Practices.

11. Numbers have been rounded to the nearest million tonnes and nearest thousand ounces. Differences may occur in totals due to rounding.

12. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration; however, it is reasonably expected that a significant portion of Inferred Mineral Resources could be upgraded into Indicated Mineral Resources with further exploration.

13. Micon QPs have not identified any legal, political, environmental, or other relevant factors that could materially affect the potential development of the mineral resources and of the estimate.

The remaining 75% of the TMIC halo demonstrates similar geology, alteration, and geophysical signatures and is untested by drilling.

A second gold trend, identified in 2026, outcrops at surface and is continuously mineralized over a 100-metre width. This gold mineralization occurs within Timiskaming-type conglomerates that have been traced for over 5.0 kilometres along a southwest trend paralleling the Thunder Lake Fault. The Company believes both targets offer opportunities to materially increase the total resource through systematic drilling.

About Thunder Gold Corp.

Thunder Gold is advancing the Tower Mountain project in Thunder Bay, Ont. -- an emerging gold system with the scale, consistency and quality to support a long-life, open-pit operation. Results from the disciplined drill programs have consistently reinforced confidence in the continuity and predictability of the discovery while highlighting significant potential for expansion across multiple zones of the Tower Mountain intrusive complex. With industry-leading drilling costs, existing infrastructure and a skilled local work force, Tower Mountain represents a rare combination of size, scalability and cost-effective growth.

At Thunder Gold, our vision is clear: to unlock a discovery that has the potential to become a transformational gold project, delivering long-term value for shareholders while contributing to the future of Canada's mining industry.

For more information about the Company please visit: www.thundergoldcorp.com .

On behalf of the Board of Directors,
Wes Hanson, P.Geo., President and CEO

For further information contact:

Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com

Bryan Baritot, Investor Relations
IR@thundergoldcorp.com

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