ASX ANNOUNCEMENT

24 December 2020

COMPANY UPDATE

HIGHLIGHTS

  • Harry Smith gold project drilling completed
  • Drilling results for Chillagoe, Yalgogrin and Harry Smith drilling programs expected to be announced in January 2021
  • Webbs and Conrad silver projects due diligence nearing completion

Thomson Resources (ASX: TMZ) (Thomson or the Company) advises that its exploration drilling programs for 2020 have now concluded and the due diligence on the Webbs and Conrad silver projects is nearing completion.

Harry Smith Gold Project

Thomson has completed the reverse circulation (RC) drilling program at the Harry Smith gold project in the Lachlan Fold Belt in NSW, as previously announced1, with 11 holes drilled for a total of 1,266 metres (see Figure 1 and Table 1).

The program was designed to test and extend the known gold zones, probe for potential connections between these zones and assess the potential 800m strike extent as well as to follow up previous Thomson drilling intercepts such as 17m at 5.2 g/t Au, incl. 9m at 9 g/t Au (Hole HSRC009) and 54m at 1 g/t Au (Hole HSRC004)2.

Samples have been despatched to the laboratory for assaying and results are expected to be available to be published in January 2021.

Chillagoe and Yalgogrin drilling results

Due to the significant increase in exploration activity around Australia and the pressure this is putting on assay laboratories, assay results from the auger drilling program at the Chillagoe project3 and the RC drilling program at the Yalgogrin gold project4 have been slightly delayed.

Results of these two drilling programs are now anticipated to be available to be published in January 2021.

Webbs and Conrad silver projects

Due diligence activities on the Webbs and Conrad silver projects, which are subject to a binding terms sheet acquisition by Thomson from Silver Mines Limited (ASX: SVL)5, is nearing completion, with finalisation anticipated early January 2021.

The due diligence has included detailed site visits of the Webbs and Conrad siler project sites by the Thomson due diligence team (see Figures 2 and 3).

  1. See ASX Release dated 3 December 2020 - Harry Smith High Grade Gold Hits Follow Up Drilling Commencing
  2. See ASX Releases dated 16 January 2019 - High Grade Gold Intersections at Harry Smith Prospect &

ASX Releases 29 January 2019 - Further Gold Intersections at Harry Smith Prospect

  1. See ASX Release dated 26 October 2020 - Auger Program commenced at Chillagoe Gold Project & ASX Release dated 18 November 2020 - Visible Copper Oxide Azurite At Surface At Chillagoe Auger Program
  2. See ASX Releases dated 19 November 2020 - Yalgogrin Gold Project Phase-2 Drill Program Commences & ASX Release dated 3 December 2020 - Harry Smith High Grade Gold Hits Follow Up Drilling Commencing
  3. See ASX Release dated 9 December 2020 - Webbs And Conrad Silver Projects Due Diligence Well Advanced

THOMSON RESOURCES LIMITED ASX:TMZ ABN 82 138 358 728

1

Level 1, 80 Chandos Street, St Leonards, NSW 2065 PO Box 956, Crows Nest, NSW 1585

Tel: +61 2 9906 6225 www.thomsonresources.com.au

ASX ANNOUNCEMENT

24 December 2020

Figure 1: Thomson Harry Smith gold project December 2020 drillhole locations set against surface soil

anomalies with previous drill hole locations

THOMSON RESOURCES LIMITED ASX:TMZ ABN 82 138 358 728

2

Level 1, 80 Chandos Street, St Leonards, NSW 2065 PO Box 956, Crows Nest, NSW 1585

Tel: +61 2 9906 6225 www.thomsonresources.com.au

ASX ANNOUNCEMENT

24 December 2020

Table 1 - Location of holes drilled by Thomson on the Harry Smith gold project in 2018 and 2020 - 2020

holes shaded orange (Note: Co-ordinates are MGA55 (GDA94). Dip is the hole inclination at the collar, Az is

the MGA55 bearing of the hole.)

Hole

East

North

Dip

Az

Depth

HSRC001

480,308

6,170,800

-55

245

84

HSRC002

480,309

6,170,823

-60

245

150

HSRC003

480,199

6,171,040

-60

220

138

HSRC004

480,140

6,171,051

-60

220

102

HSRC005

480,110

6,171,078

-60

220

84

HSRC006

480,288

6,170,851

-60

220

102

HSRC007

480,236

6,170,772

-60

39

132

HSRC008

480,140

6,170,876

-60

200

96

HSRC009

480,110

6,170,887

-60

184

114

HSRC010

480,128

6,171,041

-60

220

108

HSRC011

480,228

6,170,919

-60

220

78

HSRC012

480,252

6,170,733

-60

90

84

HSRC013

480,270

6,170,830

-55

220

35

HSRC014

480,274

6,170,836

-55

241

84

HSRC015

480,233

6,170,855

-60

195

138

HSRC016

480,220

6,170,895

-60

270

78

HSRC017

480,190

6,170,876

-60

195

120

HSRC018

480,148

6,170,908

-60

195

120

HSRC019

480,119

6,170,920

-60

195

120

HSRC020

480,072

6,170,900

-60

195

100

HSRC021

480,018

6,170,905

-60

195

100

HSRC022

480,220

6,171,003

-60

220

120

HSRC023

480,158

6,171,068

-60

220

120

HSRC024

480,102

6,171,060

-60

220

90

HSRC025

480,133

6,171,102

-60

220

120

THOMSON RESOURCES LIMITED ASX:TMZ ABN 82 138 358 728

3

Level 1, 80 Chandos Street, St Leonards, NSW 2065 PO Box 956, Crows Nest, NSW 1585

Tel: +61 2 9906 6225 www.thomsonresources.com.au

ASX ANNOUNCEMENT

24 December 2020

Figure 2: Photographs from site visit to Webbs silver project

Figure 2a - Old workings at Webbs

Figure 2b Historic head frame at Webbs

THOMSON RESOURCES LIMITED ASX:TMZ ABN 82 138 358 728

4

Level 1, 80 Chandos Street, St Leonards, NSW 2065 PO Box 956, Crows Nest, NSW 1585

Tel: +61 2 9906 6225 www.thomsonresources.com.au

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Thomson Resources Limited published this content on 24 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2020 23:32:01 UTC