Thesis Gold Inc. provided an update on drilling and exploration plans for the 2023 field season at the Company's 100% owned, road-accessible Ranch Gold Project in the Toodoggone region of northern British Columbia. This summer's program will include ~30,000 m of diamond drilling, surface-rock and soil sampling, and ground geophysics. Highlights.

~30,000 metres of drilling with three main objectives: Infill and expansion resource drilling at the Thesis Structural Corridor (TSC) and the Bonanza-Ridge Zone where mineralization remains open at depth and along strike, demonstrated by the following highlights: 2022 Drill highlights from the TSC include: 22BNGDD009, the northern most hole drilled within the TSC returned 50.30 m of 1.86 grams per tonne gold (g/t Au) within a broader, 80.30 m interval of vuggy silica alteration. At the southern limits of the TSC 22THDD004 returned 59.00 m of 1.60 g/t Au. 22TH3DD015 was one of the deepest holes drilled last year and returned 95.70 m of 1.60g/t Au.

2022 Drill highlights from Bonanza-Ridge include: 22RDGDD0047: 7.00 m of 11.69 g/t Au at the southern-most extent of the Ridge zone. 22BNZDD008: 91.00 m of 1.81 g/t Au in the area between the main Bonanza and Ridge zones. Development and expansion of new discoveries and established targets: drilling will focus on Steve, JK, and BV.

Initial drilling of new exploration targets: drilling will target coincident geophysical and geochemical anomalies proximal to known mineral occurrences. Surface studies. will include the collection over 170 line-km of ground magnetics and 1,200 soil samples.

Both exploration methods have proven extremely effective in delineating mineralized trends and have, in part, led to new discoveries. Additionally, bedrock lithology, alteration, and structural mapping will seek to characterize ~22 km2 of underexplored areas to. build on the regional geological context of the project.

Drilling. The Thesis Structural Corridor (TSC) and Bonanza-Ridge zone have been the primary focus of Thesis Gold's exploration efforts since 2021. The Company is working towards defining a maiden resource at these known prospects, while continuing to grow and develop secondary targets at JK, Steve, and BV, among others.

Furthermore, exploration drilling will focus on geochemical and geophysical anomalies associated with known mineral showings across the property. To date, drilling at the TSC indicates that mineralization stretches for over 1.5 km and reaches a depth of at least 400 vertical metres. This zone is represented by a broad, >2 km long by >320 m wide, magnetic anomaly that transects the property; it likely represents a broad fault zone that was conducive for circulating mineralization-related fluids associated with a larger magmatic-hydrothermal system.

Furthermore, fault-controlled mineralization at the Bonanza-Ridge zone occurs within-and at the intersection of-numerous structures, measures approximately 700 metres across, and reaches a depth of approximately 300 vertical metres. The geochemical and geophysical footprint associated with the Bonanza-Ridge deposit area extends beyond the current limits of drilled mineralization, indicating significant potential for growth.