Dr. Ewan Webster reports

THESIS GOLD COMMENCES ENVIRONMENTAL ASSESSMENT PROCESS FOR THE LAWYERS-RANCH PROJECT

Thesis Gold Inc. has initiated the environmental assessment (EA) and permitting process for the 100-per-cent-owned Lawyers-Ranch gold-silver project at both the provincial and federal levels. Concurrent submission of an initial project description (IPD) and engagement plan (EP) to the British Columbia Environmental Assessment Office (EAO), and the IPD and a plain language summary (PLS) to the Impact Assessment Agency of Canada (IAAC) marks the beginning of the permitting process, and an important milestone for Thesis and the Lawyers-Ranch project.

The IPD outlines the company's plans to develop and operate the Lawyers-Ranch project. Located approximately 450 kilometres (km) north-northwest of the city of Prince George, and 275 km north of the town of Smithers, the project partially overlaps with the traditional territories of the Kwadacha Nation, Tsay Keh Dene Nation, Takla Nation and Tahltan Nation.

Thesis is committed to meaningful indigenous engagement and public participation throughout the EA and permitting processes. Since acquiring the project in 2018, the company has built strong, collaborative relationships with the nations through agreements, co-design initiatives and, most recently, through direct equity ownership. Following the successful completion of the recent financing, Kwadacha Nation, Tsay Keh Dene Nation and Takla Nation have become shareholders in Thesis, aligning their interests with the project's long-term success.

Dr. Ewan Webster, president and chief executive officer, commented: "The submission of the IPD marks a key milestone in advancing the Lawyers-Ranch project through the permitting process and reflects our shared commitment to developing a project that delivers lasting benefits for all stakeholders. We look forward to continued collaboration with indigenous partners, local communities and government regulators as we advance the project in accordance with the highest environmental and social standards. With both the provincial and federal governments placing a strong emphasis on improving permitting efficiency and recognizing the critical role of responsible resource development in B.C.'s economy, this is an ideal time for Thesis to be commencing this next phase of the process."

About Thesis Gold Inc.

Thesis Gold is a resource development company focused on unlocking the full potential of its 100-per-cent-owned Lawyers-Ranch gold-silver project, located in British Columbia's prolific Toodoggone mining district. The recently published prefeasibility study outlines robust project economics, including a 54.4-per-cent after-tax IRR (internal rate of return) and an after-tax NPV 5 (net present value, 5-per-cent discount rate) of $2.37-billion (at $2,900 (U.S.)/ounce gold and $35 (U.S.)/oz silver), underscoring the project's strong value-creation potential. The company has commenced the environmental assessment process and plans to initiate a feasibility study in 2026 to further advance and derisk the project. Through these milestones, Thesis Gold is working to elevate the Lawyers-Ranch project to the forefront of global precious metals development.

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