Thunder Bay, Ontario--(Newsfile Corp. - October 11, 2022) - Thunder Gold Corp. formerly White Metal Resources (TSXV: TGOL) (FSE: CGK1) (OTC Pink: TNMLF) ("Thunder Gold" or the "Company") announces that on October 7, 2022, Dr. Elliot Strashin ("Strashin"), purchased through the TSX Venture Exchange, a total of 413,000 common shares of the Company trigging a regulatory requirement to file an Early Warning Report and issue a news release.
Immediately prior to the purchase of securities described above, Strashin owned 20,530,957 common shares, representing an approximately 13.94 per-cent interest in the Company on an undiluted basis. Immediately following the transaction that triggered the requirement to file this news release, Strashin and his joint actors owned 20,943,957 common shares, representing an approximately 14.22 per-cent interest in the Company on an undiluted basis.
Strashin holds the shares of the Company for investment purposes only. Strashin intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Company, subsequent developments affecting the Company or its business, and the general market and economic conditions. Based upon these and other factors, Strashin may decide to purchase or sell securities of the Company.
For additional information, an early warning report will be filed on SEDAR.
About the Tower Mountain Gold Property
The Tower Mountain Gold Property is located 5 kms off the Trans-Canada highway, 50 km west of Thunder Bay, Ontario and consists of unpatented and patented lands totalling 1,968 ha. Exploration to date suggests the property offers a large gold endowment. Gold mineralization is widespread and drilling to date has identified low-grade gold mineralization extending outward for at least 500 meters from a central alkalic intrusion known as the Tower Mountain Intrusive Complex. Drilling has established persistent gold grades from 0.1 to 1.0 g/t along a 1,500-meter-long x 500 meter wide x 500 meter deep block of volcanic-volcanoclastic rocks immediately west and adjacent to the central akalic intrusion. The remaining 6,000 meters of strike length surrounding the intrusion are untested. Tower Mountain shows many of the classic indicators of being an Intrusion Related Gold Deposit a highly desirable exploration target.
About Thunder Gold Corp.
Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit www.thundergoldcorp.com.
On behalf of the Board of Directors
Wes Hanson, President and CEO
For further information contact:
Wes Hanson, CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
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