THESIS GOLD

PROPERTY LOCATION & ACQUISITION DATE

Project Activities In The 2022 Season

Thesis Gold Inc.

1111 West Hastings St., Vancouver BC V6E2J3 thesisgold.com

Contacts

GENERAL INQUIRIES &

LEADERSHIP

Ewan Webster President, CEO & Director

403 805 2515 ewanw@thesisgold.com

The Ranch Gold Project is in the Toodoggone Region of Northern BC. Thesis Gold acquired the Ranch Gold Project in November 2020.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

Drill successes in 2022 included up to 98% gold recovery from a number of different zones:

• At the Bonanza Zone, drill hole 21BNZDD010 returned 7.42 m core length of 49.14 g/t Au; including 4.40 m of 80.00 g/t Au; and,

• At the Ridge Zone, drill hole 21RDGDD009 returned 27.00 m core length of 6.78 g/t gold (Au) and 161.74 g/t silver (Ag), or 8.80 g/t gold equivalent (AuEq), including 10.00 m of 16.28 g/t Au and 179.96 g/t Ag or 18.53 g/t AuEq.

Other successes include approval of the Amended Mines Act Five-Year Exploration Permit to allow for road construction. Thesis Gold also received $24.5 million in Private Placement Financing, including Strategic Investment from Eric Sprott.

Some challenges included the inability to access the site by road, as access was limited to helicopter access only. However, the re-establishment of the Ranch Road will provide road access from the town of Mackenzie, via the Lawyers Gold Project for future programs.

Thesis Gold conducted two mineral exploration programs in 2022 – one in March and April, and the other from July to October. Access to the 40-person exploration site was via helicopter, with road access re-established via the Ranch Road connector to the Lawyers Gold Project in late September, which provides road access from the town of Mackenzie.

Mineral exploration activities undertaken in 2022 included 183.8 line-km of ground magnetics and a soil sampling program covering approximately 20.5 km2. Roughly 40,000 m of exploration and expansion drilling was also completed in 2022. Environmental monitoring activities completed throughout the operating season included pre-clearing surveys, ongoing and monthly wildlife monitoring, environmental monitoring, and water sampling. Activities ceased in October 2022 for the season.

Number of employees working on your project(s)?

None, Thesis relies entirely on contractors to complete the exploration work.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap?

Thesis Gold is publicly traded and owned as TAU-TSXV. The majority of financing comes from US and Canadian equity funds. 25% is owned by senior management and the Board of Directors; 60% is held by US and Canadian equity funds; 15% is owned by high-net-worth individuals and retail. Our market cap is $50 million.

Tentative plans and hopes for the 2023 season?

In 2023, Thesis Gold proposes to conduct additional mineral exploration activities, and will access the site seasonally (from June to October) via the Ranch Road for light and heavy-duty transportation to and from the Ranch Project to reduce air transport.

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2022 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

In early 2022, Thesis reached out to the Lands Director at Tahltan Central Government (TCG) to discuss the Mines Act Permit Amendment Application for the Ranch Gold Project. The permit amendment application was approved in July 2022.

TCG was also engaged to participate in an archaeological study conducted at the Ranch Project in June 2022.

In 2022, how many Tahltans did you employ? What positions did they hold?

No direct employees, however, core boxes were supplied for the season by Tuya Woodcraft.

What employment opportunities, now and in the future, are available to Tahltan members?

Some contracting opportunities in 2022 include the following, however, the selected contractor would be dependent on availability, capacity, and proximity to the Ranch Gold Project:

• Core box supply;

• Core cutters, IP crew, and RC samplers;

• Environmental studies;

• Road maintenance and bridge engineering services;

• Sample hauling to/from Prince George;

• Charter plane services; and

• First Aid.

Why should Tahltan members want to work for you?

We are a modern company committed to sustainable resource development and proud to stand for technical excellence, painstaking project selection, and uncompromising corporate governance. We are committed to open and transparent engagement, ensuring we understand and respect Indigenous interests, and advancing our projects in partnership with local people and institutions. Our values include: respect for the environment; openness, transparency and honesty; early and meaningful engagement with Indigenous groups; and positive and long-term beneficial relationships with Indigenous groups and other local communities.

Did you have any Tahltan contractors working for your company?

No.

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized? Do they offer employment opportunities to Tahltan members?

The primary contractor used by Thesis is APEX Geoscience Ltd., 11450 160 Street NW, Edmonton, AB, T5M 3Y7. APEX is responsible for all sub-contracting, and management of exploration related activities at the Ranch Gold Project.