Thesis Gold Inc. report assay results from the Bingo Zone at its 100% owned Ranch Project. Bingo represents the northern-most extent of the Thesis Structural Corridor, and prior to 2023, it had seen very limited modern drilling. The latest findings represent a significant step forward in its comprehensive exploration program, designed to expand its resource base, especially near surface mineralization to enhance the economic potential of its projects.

The Ranch Project is road-accessible by way of the Company's Lawyers Gold-Silver Project, and together the two projects form a contiguous, 325 km2 land package in the prolific Toodoggone Mining District in northern British Columbia. The Bingo Zone, situated at the northern extent of the Thesis Structural Corridor, features low topographic relief. Notably, there's no exposed outcrop at the surface in Bingo.

Targeting efforts have relied exclusively on historical trenching and drilling, along with interpretations from modern geophysics and soil geochemistry data gathered by Thesis. Historical drilling outlined mineralization along an approximately 100-metre-long strike on the west side of the Bingo Zone, while trenching suggests a continuation of mineralization to the north. Recent soil geochemistry, geophysics, and the 2022 drilling campaign indicate the presence of a second trend on the east side of the zone.

Ground magnetic data reveals numerous faults oriented in NW, NE, and E-W directions. This structural environment, akin to that observed in other areas like the Bonanza-Ridge Zone, supports the potential for ongoing discoveries in the relatively underexplored Bingo Zone. Mineralization within the Bingo Zone is predominantly hosted in andesitic volcanic rocks that have undergone pervasive alteration: primarily silica and leached vuggy silica.

These rocks contain varying amounts of bladed barite in vugs. Certain mineralized intervals show spatial association with dickite, a clay formed in high-temperature acidic environments. Assay results for Bingo have demonstrated significant near-surface gold and copper grades.

Gold, as observed elsewhere on the property, is associated with pyrite and sooty sulphides. Elevated copper grades are ascribed to minerals such as chalcopyrite, covellite, and enargite. Enargite, in particular, is associated with the deeper segments of a high sulfidation epithermal system, likely in closer proximity to the magmatic source responsible for the acidic fluids.

Holes 23BNGDD006 and 23BNGDD012 were designed as follow-ups to a 2022 hole that intersected 50.30 m of 1.86 g/t Au. Silicic alteration in both holes resulted from the acid-leaching of andesitic volcanic rocks, creating a porous material conducive to gold precipitation from later hydrothermal fluids. Poor recovery in 23BNGDD006 prompted the decision to twin the hole with 23BNGDD012.

This resulted in successfully recovering 24.72 meters of core containing 5.37 g/t Au near-surface. In a deeper zone, between 35 and 44 metres, 9.00 metres of >1% silver and 3.20% copper was returned from an interval of poorly recovered vuggy silica, causing drilling complications and concluding the hole in mineralization. Despite limited testing, results thus far indicate a promising structural environment at the Bingo zone, suggesting closer proximity to a magmatic source responsible for alteration- and mineralization-related hydrothermal fluids compared to more extensively tested zones across the property.

Bingo is contiguous and within the >1.5 km-long Thesis Structural Corridor that remains open for further testing to the north and south. Pending assay results will continually shape its understanding of the eastern and western mineralized trends, and the Company intends to release these results as they become available.