Thesis Gold Inc. announced assay results from 11 holes drilled at the Bonanza-Ridge Zone during the 2022 field season. These results continue to expand the mineralized footprint at the Bonanza-Ridge Zone on the Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. The positive drill results reported here increase the footprint of precious metal mineralization at the Ridge Zone in all directions. Northeast and southwest-directed step-out drilling continues to intersect broad, 10-25 m wide intervals of mineralization, extending the strike length of the Bonanza-Ridge Zone to over 700 m. The mineralized structure coincides with linear magnetic lows and shows potential across multiple datasets for further expansion with future drilling. The correspondence of high-grade gold in 22RDGDD037 with high-grade gold in rock grab samples at surface demonstrates the
down-dip continuity of mineralization on that section to >150 m vertical depth. Drilling continues to show that significant mineralization at the Ranch Project is spatially associated with intersecting northeast and northwest-directed faults. These structures are consistent with linear trends of relatively low magnetism identified in geophysical data. The spatial association of fault rock logged in core, gold assays, and linear magnetic lows represents a local demagnetization of host rocks along structures that are coincident with gold mineralization. This is likely due to hydrothermal alteration of fractured and faulted host rocks; the structural geometry at Ranch, characterized by northeast and northwest-trending faults, created an interconnecting pathway for gold-rich hydrothermal fluid to exploit at the time of mineralization. Prospective magnetic lows continue beyond the limits of many of the mineralized trends that remain open along strike, which, in addition to numerous untested targets, indicates further potential for growth and discovery at the Ranch Project. 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.