Thesis Gold Generates Multi-Kilometre Epithermal Gold Target at Ranch

Vancouver, British Columbia--(Newsfile Corp. - March 28, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis") or the "Company") is pleased to provide a summary of technical work that has generated another highly prospective, multi-kilometre drill target at its 100%-owned Ranch property, located in the Golden Horseshoe of north-central British Columbia, Canada. The Company previously completed a comprehensive exploration program covering significant portions of the property, including surface geochemical sampling, bedrock mapping and prospecting, and the collection of ground-based and airborne geophysics. The synthesis of all available datasets has produced a large, prospective area of interest with coincident geochemical and geophysical anomalies near the Alberts Hump occurrence consistent with epithermal-style mineralization at Ranch and elsewhere within the Golden Horseshoe (Figures 1, 2).

Alberts Hump Area Highlights

• Coincident, multi-kilometre soil geochemistry anomalies in important pathfinder elements that remain open to the southwest.
• Bedrock alteration mapping indicating high-level exposure of epithermal alteration, consistent with other gold-bearing zones on the project.
• Linear magnetic features interpreted as structures which have acted as conduits for hydrothermal fluids. These interpreted structures share orientations commonly associated with mineralization elsewhere within the Ranch property.
• The ~0.5 x 2 kilometre anomalous footprint defined by 2021 exploration work at Alberts Hump is the largest discovered to-date at Ranch.
• The Alberts Hump area has not seen contemporary drilling and represents a strong opportunity to make additional new discoveries given the strength and footprint of observed anomalism in all observed datasets.
• Thesis has approximately $35 million in working capital that will fund its ongoing ~50,000 metre drill program, which will include testing the Alberts Hump target.

Ewan Webster, President and CEO, commented, "The Alberts Hump area displays many coincident anomalies from various datasets consistent with epithermal gold mineralization at Ranch. Our recent discoveries at both the Thesis II and Thesis III zones have demonstrated the excellent discovery potential that exists on the project and with our roughly 50,000 metre ongoing 2022 drilling campaign we hope to continue this success and will soon focus our efforts on this very exciting new target at Alberts Hump."

Surface geochemistry, airborne and ground-based geophysics, and bedrock alteration mapping programs completed in 2021 represented the first comprehensive coverage of much of the Ranch property. The Thesis technical team has evaluated these extensive datasets and synthesized them with historical data, using nearby precious and base metal deposits and global analogues to contextualize dataset relationships. Soil sampling over the Alberts Hump area displays coincident anomalism in many important pathfinder elements including arsenic, antimony, silver, bismuth, and several basemetals. These soil anomaly element assemblages are consistent with high-level exposure of epithermal systems, and are situated proximal to prospective geophysical signatures such as coincident resistivity highs and linear magnetic lows, interpreted to represent silicification associated with structures acting as conduits for hyrothermal fluid flow. The size of the anomalous footprint at Alberts Hump is significantly larger than others observed within the Ranch property, including anomalies observed at the high-grade Bonanza, Thesis III, and BV zones that saw historical gold production.

Figure 1: A. Alberts Hump target area with ground magnetics underlay, simplified structural interpretation, and historical gold occurrences. B. 75-metre depth slice in IP geophysics (conductivity), with a large resistivity anomaly coincident with an area of magnetic complexity and the pathfinder element anomalism. C. Bedrock alteration mapping.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2191/118314_a6d169bcb462f922_001full.jpg

Figure 2: A. Silver-in-soils over a one-metre resolution LiDAR slope model. B. Antimony-in-soils. C. Arsenic-in-soils. D. Bismuth-in-soils. E. Zinc-in-soils. F. Lead-in-soils.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2191/118314_a6d169bcb462f922_002full.jpg

In addition, the Company has granted a total of 1,650,000 incentive stock options to directors, officers, employees, and consultants. The incentive stock options vest immediately and may be exercised at a price of $2.43 per common share for a period of five years from the date of grant, subject to the terms of the Company's 10% rolling stock option plan and the policies of the TSX Venture Exchange.

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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