Strong Drill Results Continue To Be Delivered At Ranch Gold Project

VANCOUVER - Thesis Gold Inc. reported that the balance of drill results from the Ridge prospect completed during the inaugural drill program at the Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Drill hole 21RDGDD002 returned 10.80 meters (m) core length of 3.94 g/t gold (Au) and 247.58 g/t silver (Ag), or 7.03 g/t gold equivalent (AuEq) at Ridge. 21RDGDD011 extends the mineralization on this section to over 125 vertical meters and returned 8.70 m core length of 4.56 g/t Au and 49.94 g/t Ag, or 5.18 g/t AuEq. 21RDGDD012, the southwestern most hole drilled at Ridge to date, returned 32.00 m core length of 1.52 g/t Au and 40.17 g/t Ag, or 2.73 g/t AuEq, including 10.00 m of 3.37 g/t Au and 37.30 g/t Ag, or 3.85 g/t AuEq. The Ridge zone remains open along-strike and to-depth, with over 600 meters of strike length of mapped silica alteration remaining to be drill tested. Shallow Ridge zone intercepts continue to return strong silver content that transitions to deeper intervals containing significant copper, consistent with vertical zonation in high sulphidation epithermal environments.

Ewan Webster, President, and CEO, said, "The Ridge zone continues to deliver strong drill results, and our team is steadily advancing our understanding of the gold, silver, and copper mineralization controls across the project area as new data becomes available. We are continually adjusting our exploration model and generating additional prospective targets across the Ranch project area and are excited to begin another drilling campaign in short order."

Observed northeast structures at Bonanza and Ridge correlate strongly with mineralization and are spatially associated with intermittent magnetic lows, likely due to magnetic destruction as a result of pervasive silicification. Locally, these northeast-southwest structures are offset by later northwest-southeast faults. At Bonanza, the confluence of the two structural trends coincides with a low magnetic response and is strongly related to the mineralization footprint. A review of the 2021 exploration data demonstrates the existence of several of these structural relationships that remain to be tested, including northeast along-strike from Bonanza.