Thesis Gold Drills 20.42 Metres of 5.11 g/t Gold at New JK Zone

Vancouver, British Columbia--(Newsfile Corp. - April 6, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis") or the "Company") is pleased to announce drilling results from the JK zone, approximately 700 metres east of the Thesis Structural Corridor (Figure 1), completed during the Company's inaugural 2021 drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada.

JK Zone Drill Highlights

• Drill hole 21JKDD002 returned 20.42 metres (m)* of 5.11 g/t (grams per tonne) gold (Au), including 3.00 m of 19.45 g/t Au (Table 1).
• The Company completed two holes around the JK zone in 2021, testing historical mineralization and a conceptual geophysical target (Figure 1).
• Drilled mineralization improved significantly relative to historical drilling (Figure 2). This is likely due to previous explorers selectively sampling drill core without fully understanding mineralization controls across the property area.
• The JK zone area is very sparsely drilled, with only two historical and two contemporary drill holes completed to date.
• There is significant room to expand on recently drilled mineralization, and the mineralized zone remains open in all directions, particularly towards the south where intersecting faults may have provided ideal conduits for subsequent gold-bearing fluids.
• The JK zone is one of 20+ early-stage targets on the Ranch Project, many of which have never been drill tested, and these recent results demonstrate the significant gold discovery potential in these underexplored areas.

Ewan Webster, President and CEO, commented, "We are very pleased with the high-grade mineralization discovered near the JK zone with sparse 2021 and historical drilling. Clearly, previous explorers did not fully recognize the potential of the area. We believe there is a strong opportunity to significantly expand the known mineralization at JK, and based on these results we will be prioritizing this target and allocating sufficient metres to advance it."

Historical trenching at JK displayed anomalous gold over +200 metres strike length, and selectively sampled historical drilling intersected similar mineralization at depth. However, the Company's drill targeting identified the JK area as more prospective than historical numbers would indicate. Mineralization at JK resembles that seen at Bonanza, Thesis III, and Thesis II in that it is associated with vuggy and leached silica zones, with sulphides and barite occupying vugs locally. It is also situated within a northwest-southeast oriented structural zone that likely acted as a conduit for gold-bearing hydrothermal fluid flow, akin to structures acting as primary mineralization controls elsewhere within the Ranch Project area. The lack of sampling in historical drill core directly below high-grade encountered in drill hole 21JKDD002 suggests an incomplete understanding of mineralization controls by previous explorers, and provides strong potential to expand on this area of known mineralization with enhanced drill targeting and improved field observations in the upcoming summer drill campaign at Ranch.

Figure 1: A. Plan map of the underexplored JK area, with 2021 and historical drill collars, simplified structural interpretation, and inset map denoting the location of the JK area within the Ranch Project area.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2191/119410_6b4ca2618497cbde_001full.jpg

Figure 2: Cross-section including 21JKDD002 showing logged alteration with gold assay histograms.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2191/119410_6b4ca2618497cbde_002full.jpg

Table 1: Drill core assay results from the JK zone.

 
*Intervals are core-length. True width is estimated between 70-90% of core length.

Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

On behalf of the Board of Directors
Thesis Gold Inc.

"Ewan Webster"

Ewan Webster Ph.D., P.Geo.
President, CEO, and Director

About Thesis Gold Inc.

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project.

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President
The Howard Group Inc.
Email: dave@howardgroupinc.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

Nick Stajduhar
Director
Thesis Gold
Email: nicks@thesisgold.com

Neither the 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 press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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