Thesis Gold Inc. announced its strategic initiative to further optimize the 2022 Lawyer's Project PEA with effective date: Sept 30, 2022 ("2022 Lawyers PEA"), which was originally limited to an open-pit scenario at Lawyers Project within the Toodoggone mining district of north-central British Columbia, Canada. In the upcoming 2023/2024 activities, Thesis Gold's strategic focus will remain on completion of its comprehensive 50,000-metre drilling program, with 30,000 metres dedicated to Ranch resource drilling and 20,000 metres targeting the expansion of Lawyers' underground resources. An extensive program of metallurgical testing is scheduled to begin shortly, combining a total of 40 samples from Lawyers potential open-pit material, Lawyers potential underground material, and a number of the advanced Ranch Project targets.

This test work, set for completion in second quarter - 2024, aims to optimize gold recovery and evaluate byproduct potential, laying the groundwork for an updated comprehensive PEA in third quarter-2024. 30,000 metres primarily focused on Ranch resource drilling. Geotechnical logging of multiple drill holes at the Ranch Project to support PEA level pit design criteria.

maiden resource estimate for the Ranch Project. Update of the 2022 Lawyers PEA, through assessing the potential of incorporating underground mining methods to complement the existing surface operations, as well as exploring the integration of the Ranch Project to enhance overall project optimization and expansion. The overarching intent is to develop strategies to enhance the project and financial results in future study stages, and guide exploration drilling which is seen as the most effective pathway to creating value.

For 2023, Thesis Gold together with F. Wright Consulting Inc., under the direction of Frank Wright, P. Eng., an independent metallurgical consultant, have developed a metallurgical program designed to gain an understanding of the potential mineral processing attributes for the combined Lawyers and Ranch Gold Projects. In 2022, the individual core sample intervals from the 2021 drill program were blended into 14 composites. Leaching tests on the Ranch Project samples have shown varying results based on the sulphide content and other mineralogical factors.

These samples were derived from the 2021/22 exploration program's diamond drill core and the historic AGB waste rock dump. All of the investigation further confirmed design criteria used in the 2022 Lawyers PEA, and in many cases identified opportunities to reduce Capex requirement in future design updates. Geotechnical logging the multiple drill holes at the Ranch project to support PEA level pit Design.

A preliminary geotechnical program was carried out in 2020 to characterize rock mass conditions in support of open pit slope designs at the Lawyers Project. Four exploration drill holes (one drill hole at AGB and three at Cliff Creek) were geotechnical logged in November 2020 to support the PEA pit design. Subsequently, a dedicated geotechnical/hydrogeological program was completed in 2021 to a feasibility-level in preparation for future phases of the Lawyers Project design.

This program included seven additional geotechnical drill holes (three at AGB and four at Cliff Creek). Due to the overall good rock mass quality and high intact rock strength, an inter-ramp slope angle of 52deg was recommended for mine planning at the Lawyers Project. Results of packer testing in the Cliff Creek deposit area suggest the permeability of the rock is low to elevated in the upper 100 to 150 m from surface.

The results of the investigation and laboratory test work will be used to develop design parameters for the TSF and WRSF in future phases of Project design. A total of 25 drillholes and 112 test pits were completed for this program and included the following analyses: Detailed geotechnical logging of all core; Excavation and logging of surficial geology for 112 Test Pits. The results of the test work show that WRSF Location 1 and TSF Location 3 (the Project's preferred locations) are suitable.

Palmer Environmental Consulting Group was retained to lead a Lawyers Project-scale hydrogeology site investigation program. The results of the program will be used to inform the development of a site-wide water balance; an accounting of all water inputs, outputs, an accounting of all water input, outputs, outputs, and changes in storage over the Lawyers Project's duration. Knight Piesold Ltd. was retained to complete a geotechnical site investigation program to support process plant foundation designs in future studies.

A total of process plant foundation designs in future study program to support process plant foundation design program to support process foundation designs in future studies. A total of drilling across 10 drillholes was retained to support process plant foundation designs In future studies. A total of drilling across 10 drill holes was retained to support process foundation designs in 2022 Lawyers Project's duration.