Thesis Gold Cease Trade Order

Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (OTCQX: THSGF) ('Thesis' or the 'Company') announces that the Company has been issued a cease trade order dated May 8, 2023 (the 'CTO') by the British Columbia Securities Commission (the 'BCSC') for missing the filing deadline of May 1, 2023 for the following periodic disclosure documents (collectively, the 'Annual Filings'): annual audited financial statements for the year ended December 31, 2022; annual management's discussion and analysis for the year ended December 31, 2022 and certification of annual filings for the year ended December 31, 2022.

As a consequence of the CTO, trading of the Company's common shares on the TSX Venture Exchange has been halted. While missing the May 1, 2023 filing deadline was through no fault of the Company, the Company expects to complete the SEDAR filing of the Annual Filings within the next few days. After the SEDAR filings are completed, the CTO will be revoked and the Company is coordinating with the TSX Venture Exchange to coordinate a resumption of trading as expeditiously as possible once the CTO has been revoked.

About Thesis Gold

Thesis Gold is a Vancouver based mineral exploration company focused on proving and developing the resource potential of the 178km2 Ranch Gold Project located in the 'Golden Horseshoe' area of northern British Columbia, approximately 300 km north of Smithers, British Columbia.

Contact:

Dave Burwell

Tel: [phone]

Email: [e-mail]

Cautionary Statement Regarding Forward-Looking Information

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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