Thesis Gold Inc. presented a preliminary synthesis of 2022 surface exploration at its Ranch Project (the "Property"). During the 2022 summer field season, the Company completed 183.8 line-km of ground magnetics and undertook an extensive soil sampling program covering approximately 20.5 km2. These two datasets build on data acquired during 2021 and have successfully expanded several known anomalies, in addition to delineating new, multi-kilometre scale geochemical and geophysical targets to test with drilling in 2023. During 2022, Thesis collected and analyzed a total of 4,259 soil samples, covering an area of approximately 20.5 km2. Interpretation of the soil data has extended and defined several NE, N-S, and NW oriented trends that are coincident with structural corridors interpreted from ground magnetics. Geochemical anomalies in pathfinder elements such as silver, molybdenum, tungsten,
arsenic, antimony, lead, and zinc are typical of epithermal- and porphyry-style mineralization and are commonly associated with proven precious metal mineralization on the Ranch property and elsewhere within the Golden Horseshoe. South of the drill-confirmed Thesis Structural Corridor there is a significant geochemical footprint of coincident molybdenum, tungsten, antimony, and silver anomalies that spans approximately 2 km by 1.6 km. This zone also contains localized anomalies of arsenic, lead, and zinc and coincides with mapped vuggy silica alteration that is known to be associated with precious metal mineralization at Ranch. Further, an approximately 2.6 km by 1 km strongly molybdenum-enriched footprint is present between the Ridge and Steve zones that also contains coincident tungsten, antimony, and silver anomalies. This geochemical anomaly is positioned between parallel N-S structures and extends north and south of their intersection with a NW-trending structure. Within other parts of the Ranch property, this type of structural environment has proven favorable for gold mineralization. Many anomalies with these coincident geochemical and geophysical characteristics were proven as vectors to gold, copper, and silver mineralization by drilling in 2022, indicating the potential for future discoveries. Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold
were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.