Thomson Resources : Further Outstanding Tin Results from Drilling at Bygoo Tin

ASX ANNOUNCEMENT

19 July 2022

For personal use only

FURTHER OUTSTANDING TIN RESULTS FROM 2022

DRILLING AT NEW BYGOO TIN DISCOVERY

HIGHLIGHTS

• New outstanding assays received from the 2022 Lachan Fold Belt drilling program at the recently discovered "Stewarts" zone within the 100% owned Bygoo Tin Project
• The better results from the tin greisens were:

1. BNRC80D - 69.5m at 0.5% Sn from 60m depth
2. • Including 2.5m at 2.1% Sn from 70.6m
   • And 10m at 0.9% Sn from 83m

1. BNRC82 - 36m at 0.2% Sn from 100m depth
2. • Including 3m at 0.6% Sn from 100m o BNRC83 - 31m at 0.4% Sn from 120m depth
   • Including 6m at 1.0% Sn from 123m

• 1. BNRC84D - 36.2m at 0.45% Sn from 69m depth
  2. • Including 7m at 1.7% Sn from 98.4m
• Three of four batches of assays received, with the final batch containing the last three holes drilled still pending.

Thomson Resources (ASX: TMZ) (OTCQB: TMZRF) (Thomson or the Company) advises that further strong mineralised greisens have been intersected in recent drilling at the Thomson's 100% owned Bygoo Tin Project, located in the Lachlan Fold Belt in New South Wales.

Results have now been received for two more batches of assays from the 2022 drilling program, including four holes drilled at the new discovery at "Stewarts", 300m NW of the Main Zone. The holes were following up an intersection of 111m at 0.45% Sn from 57m depth in BNRC691.

Drilling at Stewarts was initially aimed at defining the width of the zone as it was thought that the discovery hole, BNRC69, may have drilled down dip. As it turns out this is partly true, but instead of the mineralisation being 10-15m wide it is variable and up to 60m wide. The observed greisens are variable in strength and mineralogy, varying from quartz-tourmaline to quartz-topaz. Within the overall "greisen" zone there are patches of unmineralised granite between stronger greisen development.

There is one final batch of assays that is still in the laboratories for assay. Results are expected in late July or August.

Executive Chairman David Williams commented:

"Some further great results for the Bygoo Tin Project coming out of the Lachlan Fold Belt drilling program conducted earlier this year. The tin grades are fantastic and interesting to see some copper coming into it as well.

"The expansion of the Stewarts zone we are seeing is great and shows the continuing potential of this tin project."

1 TMZ - ASX Release dated 21 June 2021 - Drilling at Bygoo Tin Project Identifies Multiple New Tin Discoveries

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

1

Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

19 July 2022

For personal use only

Figure 1: Recent drilling at Bygoo North. Mineralised greisens shown in purple.

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

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Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

19 July 2022

For personal use only

Figure 2: Drill plan at the "Stewarts" zone.

The zone itself appears to be thickest and strongest next to the Ardlethan granite boundary. Holes drilled under the shallow workings in the granite outcrop area returned weak intercepts of poorly developed thin greisens (Figure 2). Heading northeast the zone is open, although it is partly constrained by the barren hole BNRC81 (Figures 1 and 2). Further drilling is needed to extend the zone to the northeast.

BNRC80D was drilled as a diamond hole partly due to weather and logistics. The hole was designed to stay in the greisen (Figure 2) and collect information on the geology and geometry of the mineralisation. It intersected 69.5m at 0.5% Sn from 60m including 2.5m at 2.1% Sn from 70.6m and 7m at 1.7% Sn from 98.4m. One individual 60cm sample at 100.5m depth assayed at 10.1% tin. That sample had 0.84% copper as well and an interval of 4.7m from 100m ran 0.25% Cu (no other significant elements).

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

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Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

19 July 2022

For personal use only

Figure 3: Drill section at the "Stewarts" zone.

Figure 3 shows a section including the discovery hole BNRC069. Follow up holes 78, 79, 82 and 83 show that the overall greisen is at least 50m wide with mineralisation in several zones of 20m wide or more.

BNRC82 found a broad intercept of 36m, which featured four separate 3-5m widths of well mineralised greisen: 3m at 0.6% Sn from 100m; 3m at 0.5% Sn from 114m; 5m at 0.6% Sn from 121m and 3m at 0.4% Sn from 133m. These were separated by barren intervals of less altered granite, suggesting that the mineralisation is "feathering" and weakening towards the north (Figure 3).

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

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Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

For personal use only

ASX ANNOUNCEMENT

19 July 2022

BNRC83 was another hole, like BNRC78, to test the width of the greisen and was successful with 31m at 0.4% Sn from 120m.

Figure 4: Drill section through the Main (to the left) and P380 (to the right) zones.

Figure 4 shows recent drilling of BNRC84D and BNRC85 (results awaited). BNRC84D was a diamond core hole drilled primarily to assist Mineral Resource Estimation. It was designed as a twin hole of BNRC013 which intercepted 46m at 0.8% Sn from 88m depth. The precollar deviated strongly, so the full length of the RC intercept was not "twinned": but a 36m wide greisen was intersected from 69m depth. Within this was a high-grade interval of 7m at 1.7% Sn from 98.4m.

One further batch of assays remain outstanding for the last three holes drilled in the truncated autumn 2022 drilling program. Positive results from nine of the ten holes drilled so far indicate that there remains a significant program of drilling for mineralisation extensions to be carried out in summer 2022-23.

THOMSON RESOURCES LTD (ASX: TMZ) (OTCQB: TMZRF) ABN 82 138 358 728

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Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au