Mr. Dorian Nicol reports

BLUE THUNDER MINING INC. TO FOCUS ON CRITICAL METALS

The Jan. 27, 2023, letter of intent between Blue Thunder Mining Inc. and Analog Gold has been terminated due to unanticipated logistical delays. Blue Thunder wishes to thank the Analog board and management for their efforts in trying to consummate this transaction.

Following the termination of the Analog LOI, the company resumed discussions respecting a potential critical metals transaction which it was formerly considering which involves the acquisition of a package of exploration properties in Yukon, and is pleased to announce that it has signed a binding letter of intent (the critical LOI) respecting this transaction. The parties will replace the critical LOI with a definitive agreement containing additional terms usual and customary for a transaction of this nature, but the critical LOI represents a binding agreement between the parties.

The property package in Yukon comprises 11 projects hosting highly prospective targets for copper, cobalt, tin and tungsten. These are all metals which are characterized as critical metals in that their production is key to the planned increasing electrification of the global economy, and in that both Canada and United States will be seeking to assure reliable domestic supplies of these metals. The 11 projects are currently held by a private company (Holdco) which is wholly owned by the company's chief executive officer and director, Chad Williams, and is a related party transaction as defined in Multilateral Instrument 61-102 and Policy 5.9 of the TSX Venture Exchange. Mr. Williams declared his interest and abstained from voting in respect of the approval of the critical LOI.

Principal terms of the transaction are:

Blue Thunder will acquire 100 per cent of Holdco. The resulting company will be owned 60 per cent by current Blue Thunder shareholders and 40 per cent by Mr. Williams as the sole shareholder of Holdco (excluding the shares which Mr. Williams currently holds in Blue Thunder). Assuming Blue Thunder has 36,995,635 common shares outstanding, 24,663,756 consideration shares will be issued as consideration for the Holdco shares, with a value of $1,233,187 assuming the consideration shares are issued at a deemed price of five cents per share.

The parties have agreed to sign the definitive agreement within 60 days.

Closing of the transaction is subject to various conditions, including completion of due diligence by Blue, approval by the boards of each of Blue and Holdco, and approval by the TSX-V.

In addition, the company is negotiating to acquire prospective lithium exploration projects in Nevada and in Quebec, which will be a natural complement to the company's focus on critical metals.

Dorian L. (Dusty) Nicol, the company's CEO, commented: "We are very excited to pivot toward critical metals and believe that the Yukon property package, as well as other projects we will acquire in due course, would allow us to generate shareholder value by advancing toward discovery in this ever-increasingly important space of critical metals. Meanwhile, of course, we continue to hold our highly prospective Muus property in the Chibougamau district of Quebec. Last year's fieldwork at Muus identified prospective copper targets in addition to the gold targets that had been the focus of precious work."

About Blue Thunder Mining Inc.

Blue Thunder is a gold exploration company that controls 100 per cent of a large land position near Chibougamau, Que. The Muus gold project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi greenstone belt. The project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault sets transect the project, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past-producing and currently producing precious and base metal mines in the district.

We seek Safe Harbor.