Multi-Kilometer Epithermal Gold Target Generated At Ranch

VANCOUVER - Thesis Gold Inc. reported on a summary of technical work that has generated another highly prospective, multi-kilometer drill target at Ranch property, located in the Golden Horseshoe of north-central British Columbia, Canada. The Company previously completed a comprehensive exploration program covering significant portions of the property, including surface geochemical sampling, bedrock mapping and prospecting, and the collection of ground-based and airborne geophysics. The synthesis of all available datasets has produced a large, prospective area of interest with coincident geochemical and geophysical anomalies near the Alberts Hump occurrence consistent with epithermal-style mineralization at Ranch and elsewhere within the Golden Horseshoe.

Alberts Hump Area Highlights: Coincident, multi-kilometer soil geochemistry anomalies in important pathfinder elements that remain open to the southwest; Bedrock alteration mapping indicating high-level exposure of epithermal alteration, consistent with other gold-bearing zones on the project; Linear magnetic features interpreted as structures which have acted as conduits for hydrothermal fluids. These interpreted structures share orientations commonly associated with mineralization elsewhere within the Ranch property The ~0.5 x 2 kilometer anomalous footprint defined by 2021 exploration work at Alberts Hump is the largest discovered to-date at Ranch; The Alberts Hump area has not seen contemporary drilling and represents a strong opportunity to make additional new discoveries given the strength and footprint of observed anomalism in all observed datasets; Thesis has approximately $35 million in working capital that will fund its ongoing ~50,000 meter drill program, which will include testing the Alberts Hump target.

Ewan Webster, President and CEO, said, "The Alberts Hump area displays many coincident anomalies from various datasets consistent with epithermal gold mineralization at Ranch. Our recent discoveries at both the Thesis II and Thesis III zones have demonstrated the excellent discovery potential that exists on the project and with our roughly 50,000 meter ongoing 2022 drilling campaign we hope to continue this success and will soon focus our efforts on this very exciting new target at Alberts Hump."

Surface geochemistry, airborne and ground-based geophysics, and bedrock alteration mapping programs completed in 2021 represented the first comprehensive coverage of much of the Ranch property. The Thesis technical team has evaluated these extensive datasets and synthesized them with historical data, using nearby precious and base metal deposits and global analogues to contextualize dataset relationships. Soil sampling over the Alberts Hump area displays coincident anomalism in many important pathfinder elements including arsenic, antimony, silver, bismuth, and several basemetals. These soil anomaly element assemblages are consistent with high-level exposure of epithermal systems, and are situated proximal to prospective geophysical signatures such as coincident resistivity highs and linear magnetic lows, interpreted to represent silicification associated with structures acting as conduits for hydrothermal fluid flow. The size of the anomalous footprint at Alberts Hump is significantly larger than others observed within the Ranch property, including anomalies observed at the high-grade Bonanza, Thesis III, and BV zones that saw historical gold production.