Thunder Mountain Gold, Inc. reported an updated Mineral Resource Estimate ("MRE") incorporating results from surface diamond drilling program conducting in 2021 at the South Mountain Project ("South Mountain" or "South Mountain Project" or the "Property") in southwestern Idaho, U.S.A. The updated MRE includes an increased resource for the Project while maintaining the high-grade mineralization. The updated Independent MRE, which has an effective date of October 16, 2023, was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI-43-101") by Hard Rock Consulting, LLC, based in the U.S.A. A technical report for this MRE will be filed with SEDAR, and on the Company's website, within 45 days from the date of this news release. This latest round of drilling completed during the late fall of 2021 proves the continuation of the down plunge extension of the DMEA zone at depth.

This zone remains open in both directions. All the of the drill results have now been in incorporated into the updated MRE for the South Mountain deposit. The increase in Measured and Indicated tons are the result of updated metal prices and mining costs.

Surface drilling completed in 2021 accounts for approximately 8% of the increase in Inferred tons, while the remaining 7% increase is due to updated metal prices and mining costs. The historical Technical Report for the Mineral Resource Estimate for the South Mountain Project Owyhee County, Idaho USA Report Date: June 15, 2021 - is filed on SEDAR.