Mr. Eric Jones reports

THUNDER MOUNTAIN GOLD ANNOUNCES MARKET MAKING SERVICES AGREEMENT

Thunder Mountain Gold Inc. has entered into a market-making services agreement with Independent Trading Group (ITG) Inc. effective as of April 1, 2025. ITG is a Toronto-based independent dealer member registered with the Canadian Investment Regulatory Organization. Under the agreement, ITG will provide market-making services on behalf of the company during the term of the agreement. ITG will carry out the market-making services by appointing an approved trader within ITG who has sufficient experience to effectively perform and manage the market-making activities. In consideration for providing the market-making services, the company will pay to ITG a monthly fee of $6,000 per month during the term of the agreement. ITG does not own, directly or indirectly, any interest in or common shares of the company or have right, directly or indirectly, to acquire any interest in or common shares of the company. The company will pay the monthly market-making fee to ITG from its available cash and working capital resources. The initial term of the agreement is a term of one month, subject to automatic renewal for additional terms of one month each and subject to the right of each of the company and ITG to terminate on 30 days prior notice to the other. The company will be evaluating the duration of this agreement in early 2026.

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 Copper company 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.

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