Elko, Nevada and Boise, Idaho — October 4, 2010: Thunder Mountain Gold, Inc. (OTCBB: THMG; TSX-V: THM), a US-based exploration company focused on discovering and defining high grade, high quality precious and base metal resources is pleased to announce that the initial drilling program has begun on its 100 percent owned South Mountain Project located in Owyhee County, Idaho. The primary focus for this season’s drilling is the gold anomaly in the Intrusive Breccia target that covers an area approximately one mile long by nearly one-half a mile wide. The zone is located approximately 2,500 feet south of the historic South Mountain polymetallic mine area. Envirotech Drilling of Winnemucca, Nevada has been contracted to drill approximately 3,000 to 6,000 feet (925 to 1,850 meters) of reverse circulation drilling. The total drilled for this season will depend upon the weather conditions as the Project is located at elevations of up to 7,800 feet (2,400 meters) above sea level.
The initial round of drilling is to test the four main targets associated with the mile-plus long gold breccia zone. If time allows, additional drill holes are also being designed to test the down dip extensions of the Texas and DMEA 2 sulfide replacement ore zones in the main mine area. Although these two areas are being targeted separately, the Company believes that there is a relationship between them due to a common mineralizing event. Although the initial round of drilling will be completed by reverse circulation drilling, any favorable geology and mineralization results encountered will be either simultaneously core drilled or followed by core drilling.
Jim Collord, President of Thunder Mountain Gold, commented, “The Thunder Mountain Team is excited to begin drilling at the South Mountain Project to test the potential extent and grade of this large gold anomaly. The recent sample results taken from the road cuts were outstanding and as a result we believe the target has the potential to be more extensive than we initially expected. With our recently completed $1.2 million private placement we are well positioned to complete this drilling program at South Mountain starting this season and finishing early next year.”
About South Mountain
The 100% owned South Mountain Mine was purchased by Thunder Mountain Gold in 2007. This flagship property was first mined in the late 1800s through the 1950s, and consists of a land package of approximately 1,200 acres of mostly private land — both patented and leased. A new gold target was revealed during fieldwork at South Mountain in 2009, and additional exploration was conducted on the new target to further identify the gold potential of this gold bearing intrusive breccia.
About Thunder Mountain Gold, Inc.
Thunder Mountain Gold was founded in 1935 and is an exploration company focused on discovering and defining quality, high-grade precious and base metal projects, primarily in politically stable regions such as the Western United States. Thunder Mountain Gold — THMG on the OTCBB, and newly listed on the TSX Venture Exchange under the symbol THM, performs its own natural resource exploration and generates value for shareholders by demonstrating the value of its properties through comprehensive exploration, and seeking strategic partners to move its properties into production. South Mountain, the Company’s flagship property located in Owyhee County, Idaho — just north of the Nevada border – is 100% owned and controlled by Thunder Mountain Gold, Inc. The Company’s other precious metals properties include Clover Mountain in Idaho, the Trout Creek and West Tonopah in Nevada and two properties in Arizona. For additional information please visit www.ThunderMountainGold.com.
Statements made which are not historical facts, including statements regarding planned exploration activities and exploration results, are “forward-looking statements”, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to metals prices volatility, exploration project uncertainties (including the impact of adverse weather conditions), industrial minerals market conditions, project development risks and the Company’s ability to obtain additional financing. Readers are encouraged to refer to the Company’s public disclosure documents for a more detailed discussion of factors that may impact expected future results. Thunder Mountain Gold, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.
Cautionary Note to Investors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The United States Securities and Exchange Commission (“SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.
For further information, please contact:
Phone: (212) 554-5469
Thunder Mountain Gold Inc.
Eric Jones, C.F.O.
Phone: (208) 658-1037
Jim Collord, President and C.E.O.