Mr. Eric Jones reports

THUNDER MOUNTAIN GOLD, INC. SECURES ADDITIONAL US$1,200,000 (CAD$1,676,000) FOR SOUTH MOUNTAIN PROJECT EXPLORATION PROGRAM

Thunder Mountain Gold Inc. has successfully completed a non-brokered private placement on May 16, 2025, raising $1.2-million (U.S.) ($1,676,000) through the sale of 10 million units at 12 U.S. cents (17 cents) each.

Each unit consists of one common share and one-half warrant, exercisable at 18 U.S. cents (25 cents) for a two-year term. The securities were sold exclusively to accredited investors, and no placement or brokerage fees were incurred. In aggregate, the company issued 10 million shares and five million warrants. There were no broker fees paid.

The company plans to use the proceeds from the private placement to finance exploration at the South Mountain project in Idaho and Trout Creek project in Nevada, and for general working capital. The proceeds will advance the South Mountain project, the company's flagship asset, funding continuing development activities and administrative costs to enhance the project's value.

"We appreciate the continued support from our investors, which reflects confidence in the potential of the South Mountain project," commented Eric T. Jones, president and chief executive officer of Thunder Mountain Gold. "This funding will provide further resources required to move forward with critical development initiatives and continue adding value for our shareholders."

Terms of the offering:

• Total raised: $1.2-million (U.S.) ($1,676,000);
• Unit price: 12 U.S. cents (17 cents);
• Includes:
  • One common share;
  • One-half warrant (exercise price: 18 U.S. cents, valid for two years).

About Thunder Mountain Gold Inc.

Thunder Mountain Gold, a junior exploration company founded in 1935, owns interests in base and precious metals projects in the Western United States. The company's principal asset is the South Mountain mine, a historic former Anaconda Mining development of zinc, silver, gold, lead and copper, located on private land in Owyhee county, Idaho. Thunder Mountain Gold also owns 100 per cent of the Trout Creek project -- a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a Barrick and Newmont Gold Inc. joint venture.

The South Mountain project

The South Mountain mine is a polymetallic development project containing high-grade zinc, silver, gold and copper, and is located on private land approximately 70 miles southwest of Boise, Idaho. The project is on private land, permitting has been, and should continue to be, a clear-cut process. The project was intermittently mined from the late from 1940s to the late 1960s, most notably by Anaconda Mining, with over 4,000 feet of underground workings that have been rehabilitated, re-engineered and MSHA compliant. Thunder Mountain Gold purchased and advanced the project from 2007 through present, with expenditures into the project of approximately $25-million (U.S.). Historic test mining and processing at the project has mostly come from high-grade CRD and skarn zones that remain open at depth and along strike.

We seek Safe Harbor.