Mr. Dorian Nicol reports

BLUE THUNDER PROVIDES ADDITIONAL INFORMATION ON YUKON CRITICAL METALS TRANSACTION

Blue Thunder Mining Inc. has provided further information regarding the critical metals transaction (the Yukon critical metals transaction) announced on July 7, 2023.

The company determined in the latter half of 2022 to acquire new mineral properties to advance its business and create value for its shareholders. The company expected that the transaction with Analog Gold announced Jan. 30, 2023, would be such an acquisition, but this transaction was terminated, as announced by the company in its July 7, 2023, news release.

The company previously considered the Yukon critical metals transaction, but set this possibility aside when it agreed to do the Analog Gold transaction. When the Analog Gold transaction was terminated, the company revisited this opportunity, which it believes is an accretive acquisition which will facilitate the company pivoting into the critical metals space.

Dorian L. (Dusty) Nicol, the company's chief executive officer, said: "We made the strategic decision to focus on critical metals because we saw a path to enhance shareholder value by making accretive acquisitions of projects with significant discovery potential. We believe that the market interest in these critical metals will be long term and that by adding these projects to our portfolio now, as well as by looking for additional acquisition opportunities of these metals, we will be ensuring the potential for long-term growth and value enhancement for our shareholders. We will be releasing further updates in due course."

The Yukon critical metals transaction was considered by the board of directors of the company (excluding Mr. Williams, who owns the private company which is the counterparty to the Yukon critical metals transaction) and was unanimously approved by the board. Negotiations with Mr. Williams regarding the transaction were initiated by the company. Mr. Williams was not involved in the negotiation of the Yukon critical metals transaction on the company side, and he abstained from the board vote to approve the transaction.

There are no prior valuations relating to the Yukon critical metals transaction. The transaction is exempt from formal valuation under Section 5.5(b) of MI 61-101 Protection of Minority Security Holders in Special Transactions. It is not exempt from the minority approval requirements of MI 61-101 -- it will require approval by a majority of the company's disinterested shareholders at a shareholders' meeting which will be called for this purpose.

It is presently anticipated that the definitive agreement respecting the Yukon critical metals transaction will be signed by Aug. 31, 2023, and that closing will happen following a shareholders' meeting prior to Oct. 30, 2023. The company will issue further news release and will file material change reports on entering into the definitive agreement and on closing the critical minerals transaction.

About Blue Thunder Mining Inc.

Blue Thunder is an exploration company that controls several prospective critical metals (including copper, cobalt, tungsten, gold and tin) properties in Yukon and one prospective lithium property in Nevada. The company also owns 100 per cent of a large land position near Chibougamau, Que. The Muus gold project covers approximately 51,000 hectares of prospective ground in the eastern part of the Abitibi greenstone belt. The Muus project is prospective for gold mineralization, as it is on strike from Iamgold's five-million-ounce Au Nelligan project. Fieldwork completed during 2022 established that the northern portion of the Muus project is prospective for copper-gold volcanogenic massive sulphide mineralization.

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