Mr. Eric Jones reports

THUNDER MOUNTAIN GOLD CLOSES US$2.5 MILLION PRIVATE PLACEMENT

Thunder Mountain Gold Inc. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $2.5-million (U.S.).

Investor highlights:

• Fully financed near-term work program: proceeds are earmarked to advance South Mountain technical work (drilling, metallurgy, resource and mine planning studies) and for general working capital;
• Simple, aligned structure: 10 million units at 25 U.S. cents per unit; each unit includes one common share and one-half common share purchase warrant; each whole warrant is exercisable at 40 U.S. cents until Oct. 24, 2027;
• Use of proceeds: financing supports a sequence of near-term technical and corporate milestones intended to advance the South Mountain project, reduce project risk and advance stepout exploration.

Chief executive officer comment

Eric T. Jones, president and chief executive officer, said: "This financing provides the capital needed to advance South Mountain. We appreciate the strong support from our investors, which underscores their confidence in our strategy, assets, management team and long-term vision."

Financing details

Under the private placement, the company issued 10 million units at a price of 25 U.S. cents per unit for gross proceeds of $2.5-million (U.S.). Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of 40 U.S. cents until Oct. 24, 2027.

All securities issued pursuant to the private placement are subject to a statutory four-month hold period expiring Feb. 24, 2026, in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.

The private placement was conducted pursuant to exemptions from prospectus and registration requirements of applicable securities laws, and was made to accredited investors on a private placement basis.

Final acceptance of the private placement remains subject to the TSX Venture Exchange.

About Thunder Mountain Gold Inc.

Thunder Mountain, a junior exploration company founded in 1935, owns interests in base and precious metal 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.

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, a qualified person as defined by the U.S. SK-1300 regulations and National Instrument 43-101 (Canada) standards.

We seek Safe Harbor.