Mr. Bryce Bradley reports

THUNDERSTRUCK CLOSES INITIAL TRANCHE OF FINANCING

Further to its press release dated July 6, 2023, Thunderstruck Resources Ltd. has closed an initial tranche of its previously announced non-brokered private placement.

Gross proceeds of $80,499.90 were raised through the sale of 536,666 units at a price of 15 cents per unit. Each unit comprised one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of 20 cents per share until July 7, 2026. The warrants are subject to accelerated exercise provisions such that if the closing price of the company's common shares exceeds 30 cents per share for a period of 10 consecutive trading days, the company may give notice of the acceleration of the warrants' term to a period of 30 days following such notice.

Finders' fees of $1,417.50 and 9,450 finders' warrants, issuable on the same terms as the unit warrants, were paid in connection with the initial tranche of the placement.

All securities issued in the first tranche are subject to a hold period in Canada expiring on Nov. 8, 2023.

Proceeds of the placement will be applied to the company's current liabilities. The placement is subject to regulatory approval, including the approval of the TSX Venture Exchange

Insiders participated in the placement acquiring an aggregate of 201,666 units on the same basis as other subscribers. The participation in the placement by insiders of the company constitutes a related party transaction as such term is defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation and minority approval requirements under MI 61-101. The company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the placement in so far as the placement involved interested parties did not exceed 25 per cent of the company's market capitalization.

The company will provide additional updates on the remaining tranches of the placement in due course.

About Thunderstruck Resources Ltd.

Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high-value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.

Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula gold mine alongside several advanced development projects including Tuvatu (Lion One, LIO: TSX-V), indicated resources of 1.00 million tonnes (Mt) at 8.48 grams per tonne Au (274,600 ounces), inferred resources of 1.33 Mt at 9.0 g/t Au (384,000 oz) and Namosi (Newcrest Mining, NCM: ASX), proven, measured and indicated resources of 1.8 billion tonnes (Bt) at 0.35 per cent Cu and 0.11 g/t Au (6.4 M oz Au and 6.3 Mt Cu).

The company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction.

We seek Safe Harbor.