Thesis Gold Announces $1.5 Million Fully-Subscribed Flow-Through Private Placement from Sprott Asset Management LP

Vancouver, British Columbia--(Newsfile Corp. - December 14, 2020) - Thesis Gold Inc. (TSXV: TAU) (formerly Chinapintza Mining Corp., the "Company") announces that it has arranged a non-brokered private placement of common shares ("Shares") at a price of $0.75 per Share for total proceeds of up to $1,500,000 through the issuance of up to 2,000,000 Shares (the "Private Placement"), which is fully subscribed from funds managed by Sprott Asset Management LP.

Each Share will be issued as a "flow-through share" as defined in the Income Tax Act (Canada) (the "Tax Act"). The Company will use the proceeds of the Private Placement to incur "Canadian exploration expenses" within the meaning of the Tax Act ("CEE") on its Ranch Gold Project during the period from the closing date of the Private Placement to and including December 31, 2021. The Company will renounce the CEE to the subscribers in the Private Placement with an effective date no later than December 31, 2020.

The Private Placement is subject to the acceptance of the TSX Venture Exchange. The Shares will be subject to a hold period of four months from the closing date of the Private Placement. No finder's fee or commissions will be paid in respect of the Private Placement.

About Thesis Gold Inc.

The Company is led by a dynamic group of resource sector professionals with a proven successful track record in mineral exploration. Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of its Ranch Gold Project covering 17,832 hectares located in the "Golden Horseshoe" area in northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project, please refer to the Company's current geological Technical Report dated September 18, 2020 available under the Company's profile on SEDAR at www.sedar.com.

On behalf of the Board of Directors
Thesis Gold Inc.

"Roy Bonnell"

Roy Bonnell
President, CEO and Director

For further information:

Nick Stajduhar
Director
Telephone: 780-701-3216
Email: nicks@thesisgold.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

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