Idaho

Technical Report

South Mountain 43-101 report (PDF, 7MB)

South Mountain 43-101 report - Tables (PDF, 3MB)

Resource Data Evaluation South Mountain Property South Mountain Mining District Owyhee County, Idaho (PDF, 3MB)

Appendices A, B, C (PDF, 9MB)

Appendices D, E (PDF, 9MB)

Overview

Thunder Mountain Gold owns 100% of the South Mountain Mine, which has a land package consisting of approximately 1,200 acres of mostly private land - both owned outright and leased. A new gold discovery was revealed during fieldwork at South Mountain in 2009, and THMG conducted further exploration on the new discovery to further identify the gold potential of the gold bearing intrusive breccia.

A soil grid survey was completed with over 400 soil samples, along with over 100 rock chip samples to better define the size of the anomalous gold mineralization in the intrusive breccia area to the south of the main part of the South Mountain Mine. The anomalous gold at South Mountain was discovered through rock chip sampling and a soil orientation survey on private land leased by the Company.

The gold mineralization occurs in a multi-lithic intrusive breccia located approximately 2,500' south of the main sulfide replacement mineralization, and covers an area of at least 60 acres. Rock chip samples obtained from outcrop and float in the mineralized area were anomalous with gold values ranging from 0.047 ppm to 5.81 ppm. The Company is upgrading the South Mountain Technical Report to a NI 43-101 compliant resource report in preparation for the TSX-V listing. This report will include all new drilling and sampling on the property.

Thunder Mountain plans a comprehensive drilling and exploration program at South Mountain in 2010 and 2011 as this property is the company's focus for near term production.

History:

South Mountain Claim Group was purchased by Thunder Mountain Gold in 2007 from a private landowner. This flagship property was first mined in the late 1800s. Mineralization consists of skarn-hosted polymetallic sulfide ore bodies hosted in a Paleozoic and/or Mesozoic carbonate unit. The principal metals at South Mountain are silver, zinc, lead, copper, and gold. The property was mined underground extensively during World War II, and smelter records for direct ship from the mine during the periods 1940 through 1954 showed a total of 53,642 tons of ore that contained 15,593,000 pounds of zinc (14.5%), 2,562,300 pounds of lead (2.4%), 1,485,200 pounds of copper (1.4%), 566,439 ounces of silver (10.6 ounces per ton)(opt) and 3,120 ounces of gold (0.058 opt). In addition to the direct ship ore, a flotation mill operated on the property during the mid-1950s, and processed in excess of 20,000 tons of ore.