Mr. Eric Jones reports

THUNDER MOUNTAIN GOLD ANNOUNCES PRIVATE PLACEMENT FINANCING

Thunder Mountain Gold Inc.'s board of directors has approved a non-brokered private placement of up to one million units of the company at a price of 25 U.S. cents (35 cents) per unit for gross proceeds of up to $2.5-million (U.S.) ($3.5-million). Each unit will consist of one share of the company's common stock and one-half common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of common stock of the company at a price of 40 U.S. cents (55 cents) for a period of 24 months from the date of issuance. Subject to regulatory approval, the company may close the private placement in one or more tranches.

The proceeds raised pursuant to the private placement will be used for exploration and for general working capital.

The company has received conditional approval of the TSX Venture Exchange to the completion of the private placement and closing remains subject to satisfaction to the conditions required by the TSX Venture Exchange.

Regarding 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 remain, straightforward. The project was intermittently mined from the late from 1940s to the late 1960s, most notably by Anaconda Copper, with over 4,000 feet of underground developmental workings that have been rehabilitated, re-engineered and are 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 carbonate replacement deposits (CRD) and skarn zones that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material have been mined and direct shipped to the smelter, with average grades; 14.5 per cent Zn (zinc), 10.6 ounces per ton Ag (silver) (363.42 g/t Ag), 0.058 opt Au (gold) (1.98 g/t Au), 1.4 per cent Cu (copper) and 2.4 per cent Pb (lead) were realized (see SK-1300 technical resource statement, and National Instrument 43-101 technical report: updated mineral resource estimate for the South Mountain project, dated Dec. 31, 2023, and Dec. 15, 2023, respectively.

Technical data in this release

The technical information in this news release was reviewed and approved by Tyson Forbush, CPG, consulting geologist with GeoTech LLC, and a qualified person as defined by the U.S. SK-1300 regulations and National Instrument 43-101 (Canada) standards.

We seek Safe Harbor.