Thesis Gold Inc. announced initial drill results from the Ridge Zone, completed during the Company's inaugural drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Mineralization at Ridge remains open along-strike and to depth, and most of the mapped alteration zone remains to be drill-tested. Exploration holes 21RDGDD004 and 21RDGDD005 were planned to test geophysical anomalies and observed alteration at the surface.

Although the holes didn't return significant results, they did encounter broad zones of alteration as expected. The massive silica encountered in holes 004 and 005 supports the interpretation of Ridge as a large hydrothermal alteration system and combined with other datasets, will help target more productive parts of the system. Elsewhere within the Ranch property unmineralized massive silica often flanks gold-bearing vuggy silica and leached zones.

The Company anticipates additional strong results from the balance of the Ridge Zone's 2021 drilling and is continually improving its understanding of the mineralization at Ridge and elsewhere within the Ranch project area. 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.