Thesis Gold Inc. announced the first assay results from the 2022 Summer drill program at the Bonanza Zone and a general exploration update for the Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Mineralization at Bonanza and the adjacent Ridge zones remains open along-strike and at depth, with the geophysical and alteration features that define the prospective target zones remaining largely untested outside of the area delineated by historical and current drilling efforts undertaken by Thesis Gold. Exploration holes 22BNZDD001-22BNZDD004 were planned as a fence to test the NE extension of the Bonanza Zone, with early results confirming the presence of significant mineralization well NE of the central target area of the main Bonanza Zone and extending mineralization over an additional 100 m along strike.

Exploration hole 22BNZDD004 represents the furthest hole along the 2022 extension with returned assay results, and importantly also produced the strongest interval of mineralization suggesting that the high-grade Bonanza zone likely continues passed the current confirmed extent. The Company continues to expand upon the initial success of the 2021 and 2022 drill programs, with pending assays expected to continue generating strong results towards defining a robust, broad scale gold-silver system. The 2022 exploration program has built on the results of the maiden 2021 drill program by continuing with the proven strategy of drill testing the extensive NW and NE oriented fault systems which appear as linear magnetic lows throughout the Property.

These fault systems are closely associated with high- grade gold-copper-silver mineralization, and often occur as interconnected structures offsetting one another. Recent exploration success has demonstrated that both the main NW and NE structural trends contain significant mineralization, greatly adding to the expansion potential of the historic target zones as well as the new exploration targets generated by Thesis Gold. The 2022 summer exploration program has to date collectively drilled over 23,000 m at Thesis II & III, Bonanza, Ridge, Bingo zones, as well as in the new exploration targets areas of Alberts Hump and Patti-Steve.

In addition to expansive drilling, Thesis Gold has also completed a robust field program, collecting 4,088 soils, 480 rocks, and extensive structural mapping focused on the new exploration target areas of Alberts Hump, Steve and Patti. Quality Assurance and Control: 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 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.