Mr. Ewan Webster reports

THESIS GOLD & SILVER CLOSES STRATEGIC INVESTMENT BY ANGLOGOLD ASHANTI AND PARTICIPATION BY CENTERRA GOLD FOR C$44M

Thesis Gold & Silver Inc. has completed its private placement of common shares in the capital of the company, as previously announced on Feb. 19, 2026, through the issuance of 5.0 per cent of the company's issued and outstanding common shares to AngloGold Ashanti PLC.

AngloGold Ashanti has acquired, by way of private placement, 13,858,883 common shares at a price of $2.79 per common share for gross proceeds of $38,666,284. The proceeds from the private placement will be used for working capital and general corporate purposes, including work related to the technical studies currently under way at the Lawyers-Ranch gold-silver project.

In connection with the strategic investment, Thesis and AngloGold Ashanti have entered into an investor rights agreement dated Feb. 26, 2026, whereby, subject to certain conditions, the company has granted AngloGold Ashanti certain financing and other participation rights to enable AngloGold Ashanti to maintain its shareholding interest in the company, as well as technical committee appointment rights and other customary investor rights.

Pursuant to an investor rights agreement between the company and Centerra Gold Inc. dated April 28, 2025, Centerra fully exercised its right to participate in this private placement to maintain its pro rata ownership in the company and subscribed for additional common shares, acquiring 2,059,730 common shares at a price of $2.79 per common share for gross proceeds of $5,746,647, such that its percentage ownership is 9.9 per cent of the outstanding common shares.

No finders' fees or commissions were paid in connection with the private placement. All common shares issued pursuant to the private placement are subject to a statutory hold period expiring four months and one day from closing in accordance with applicable Canadian securities legislation.

About Thesis Gold & Silver Inc.

Thesis is Canadian precious metal development company focused on advancing its 100-per-cent-owned Lawyers-Ranch gold-silver project in British Columbia's prolific Toodoggone mining district, one of North America's most prospective emerging precious metal districts. Lawyers-Ranch hosts a large, high-quality gold equivalent mineral resource with meaningful exposure to silver, which represents a significant component of the project and long-term value proposition.

Thesis Gold & Silver is advancing Lawyers-Ranch through feasibility, permitting and continued exploration, with the objective of unlocking long-term value for shareholders and stakeholders.

We seek Safe Harbor.