Thomson Resources : Drilling at Bygoo Tin Project Extends New Tin Discovery

ASX ANNOUNCEMENT

26 April 2022

DRILLING AT BYGOO TIN PROJECT EXTENDS NEW TIN DISCOVERY

HIGHLIGHTS

•  The 2022 drilling program at the 100% owned Bygoo Tin Project in the Lachlan Fold Belt of New South Wales has extended the "Stewarts" discovery made last year

•  The "Stewarts" greisen is more than 50m thick at its widest point

•  Extensions were also made to the Dumbrells, Smiths and P380 greisens

•  Assay results are delayed due to supply chain and COVID issues with the laboratory and now not expected until late May

•  Farming operations have halted drilling at Bygoo (and Harry Smith) for the season

•  Drilling has commenced at the 100% owned Yalgogrin Gold Project

Thomson Resources (ASX: TMZ) (OTCQB: TMZRF) (Thomson or the Company) advises that further strong mineralised greisens have been intersected in recent drilling at the Thomson's 100% owned Bygoo Tin project, located in the Lachlan Fold Belt in New South Wales.

13 holes for 1,870m were completed at the project (Figure 1), with most holes aimed at extending and delineating the new discovery at "Stewarts", 300m NW of the Main Zone. The holes were following up an intersection of 118m at 0.43% Sn from 57m depth in BNRC691.

Wide greisen intersections were made of similar mineralogy to the intersection in BNRC69, such as downhole widths of 75m in BNRC75; 113m in BNRC78; 60m in BNRC79; 79m in BNRC80D; 66m in BNRC82 and 80m in BNRC83 (see Table 1 and Figure 2). Holes were drilled at different angles and orientations to better understand the geometry.

Additional reverse circulation (RC) holes also extended the Dumbrells, P380 and Smiths mineralised zones.

Executive Chairman David Williams commented:

"This has been a difficult season for drilling at the Lachlan Fold Belt projects, but the teams have persisted and managed to complete a good program at the Bygoo tin project. This should now give us sufficient data to complete the maiden Mineral Resource Estimate for the Bygoo tin deposit which was our aim.

"That aside, we continue to see the mineralised zones extending when we drill and continues to show what a great tin project Bygoo is.

"We look forward to being able to share the assay results once they become available."

1 TMZ - ASX Release dated 21 June 2021 - Drilling at Bygoo Tin Project Identifies Multiple New Tin Discoveries

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ASX ANNOUNCEMENT

26 April 2022

Figure 1: Recent drilling at Bygoo North. Mineralised greisens shown in purple.

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

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Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: +61 2 9906 6225 E:info@thomsonresources.com.au www.thomsonresources.com.au

ASX ANNOUNCEMENT

26 April 2022

Two diamond holes were also completed to gain additional data ahead of estimation of a maiden Mineral Resource Estimate compliant with JORC 2012 for the Bygoo tin deposit later this year. These holes retrieved solid core which will give important information on mineralogy and orientation of the tin zones as well as specific gravity for resource estimation.

The program was delayed, both initially and sporadically during the program, by major rain events, farming operations and equipment supply chain and personnel issues due to COVID. Hence all zones remain open and are not yet fully extended or delineated and further drilling is planned in the next drilling season. The delays also extend to the assay laboratories and first results from the RC component are not expected until late May. Diamond core results are not expected until July at the earliest.

Figure 2: Drill section through the "Stewarts" zone. Assays are shown on the drill traces from 2021

Drilling at Stewarts was initially aimed at defining the width of the zone as it was thought that the discovery hole, BNRC69, may have drilled down dip. As it turns out this is partly true, but instead of the mineralisation being 10-15m wide it looks more like 50-60m. The observed greisens are variable

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ASX ANNOUNCEMENT

26 April 2022

in strength and mineralogy, varying from quartz-tourmaline to quartz-topaz. Within the overall "greisen" zone there are patches of unmineralised granite between stronger greisen development.

The zone itself appears to be thickest and strongest next to the Ardlethan granite boundary. Holes drilled under the shallow workings in the granite outcrop area returned weak intercepts of poorly developed thin greisens (Figure 1). Heading northeast the zone is open, although it is partly constrained by the barren hole BNRC81 (Figure 1). Further drilling is needed to extend the zone to the northeast.

Figure 3: Long section through the "P380" zone. Assays are shown on older holes

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ASX ANNOUNCEMENT

26 April 2022

BNRC85 was successful in extending the P380 zone up dip. This zone runs east-west, parallel to the Main zone, but 50m north (Figure 1). Previous drilling had missed it until BNRC73 was drilled last year, following up the intersection in P380, a hole drilled by the Ardlethan miners in 1975. The new greisen intersection looks stronger and wider than that in BNRC73.

The recent program also extended the Dumbrells and Smiths mineralised zones (Figure 1). Drilling at the main zone was a diamond core hole, BNRC84D, aimed at twinning one of the better RC intercepts from one of the previous campaigns for resource estimation purposes.

Table 1: Holes drilled at Bygoo March-April 2022

Table 2: Significant Intercepts at Bygoo, March-April 2022

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