Dr. Ewan Webster reports

THESIS GOLD CONTRACTS AUSENCO AND MINING PLUS TO COMMENCE PRE-FEASIBILITY STUDY FOR LAWYERS-RANCH PROJECT

Thesis Gold Inc. has engaged Ausenco Engineering Canada ULC and Mining Plus Canada Consulting Ltd. to complete a prefeasibility study (PFS) prepared in accordance with National Instrument 43-101 for its wholly owned Lawyers-Ranch project in British Columbia. This PFS will build upon the strong project economics outlined in the preliminary economic assessment (PEA) filed in September, 2024, which demonstrated an after-tax net present value (discounted at 5 per cent) of $1.28-billion, an internal rate of return of 35.2 per cent and a payback period of just 2.0 years (see Thesis's news release of Sept. 5, 2024).

Following a rigorous selection process, Thesis has chosen to partner with Ausenco and Mining Plus due to their position as industry leaders with extensive expertise in engineering, process design and mine planning. Thesis is confident in the partnership's ability to produce a robust and complete PFS, which will offer a foundation for the project as it progresses through permitting, detailed engineering and toward construction. Additionally, Knight-Piesold, F. Wright Consulting and One-Eighty Consulting will continue their contributions from the PEA stage, focusing on tailings, water and waste rock management, metallurgy, and permitting, respectively.

"We are excited to collaborate with Ausenco and Mining Plus, two highly respected firms recognized for their excellence in engineering and mining studies," said Dr. Ewan Webster, president and chief executive officer of Thesis Gold. "This milestone represents an important step forward as we continue to unlock the value of the project and advance towards our goal of building a sustainable and profitable mining operation."

The PFS is scheduled to be completed in Q4 2025 and will be filed on SEDAR+ when available. Work will progress in line with the continuing environmental assessment process, with necessary finalized design items scheduled to be completed prior to submission of the detailed project description in the second half of 2025.

About Thesis Gold Inc.

Thesis Gold is a resource development company focused on unlocking the potential of its 100-per-cent-owned Lawyers-Ranch project, located in British Columbia's prolific Toodoggone mining district. The recently completed PEA highlights robust project economics, including a 35.2-per-cent after-tax IRR and an after-tax NPV (discounted at 5 per cent) of $1.28-billion, demonstrating the potential for significant value creation. The company's 2025 road map includes a robust exploration and drill program, delivery of a prefeasibility study on the combined Lawyers-Ranch project, and commencement of the environmental impact assessment process. Through these strategic moves, Thesis Gold intends to elevate the Lawyers-Ranch project to the forefront of global precious metal ventures.

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