Elko, Nevada and Boise, Idaho — December 1, 2010: Thunder Mountain Gold, Inc. (OTCBB: THMG; TSX-V: THM), a U.S.-based exploration company focused on discovering and defining high grade, high quality precious and base metal resources, is pleased to provide reverse circulation drill results from their 2010 exploration program at its 100% owned South Mountain Project located in Owyhee County, Idaho. Seven holes were drilled for a total of 5,100 feet, with five of the holes drilled into the new intrusive breccia target to the south of the historic mine area and two holes drilled to test the down-dip extension of the polymetallic zones in the main mine area to confirm the continuity of the ore zones to a greater depth.
“The 2010 drill results confirm that the Intrusive Breccia gold mineralization is part of a very large system,” said Jim Collord, President and CEO of Thunder Mountain Gold Inc. “Our objective was to verify the vertical dimension of gold mineralization for this zone and, based on the initial results, we plan to embark on a more detailed and aggressive core drilling campaign to advance the intrusive breccia in the spring of 2011 in an effort to build on the success of this season. Additionally, our success in the historic mine area proves that the high-value polymetallic ore shoots remain open to depth, further enhancing the potential value of South Mountain. We are planning to follow up on the polymetallic intercepts with detailed core drilling in 2011.”
In the Intrusive Breccia, the preliminary assay results for the first five holes drilled had a total footage of 3,530 feet with 705 total samples taken every five feet of drill hole. Of the 705 five-foot drill samples taken, 97%, or 686 intervals, contained anomalous gold. The highest value intercept was 5 feet of 0.038 ounce per ton (1.20 gr/ton).
In the historic mine area, two reverse circulation drill holes targeted the down dip extension of the polymetallic zones in an effort to confirm continuity of the ore zones to a greater depth. Vertical drill hole LO 6 was placed to intercept the down dip extension of the DMEA 2 ore shoot exposed on both the Laxey and Sonneman levels of the underground workings, as well as the 2008 core hole drilled by the Company that extended the zone 300 feet down dip of the Sonneman level. Drillhole LO 6 cut a thick zone of skarn alteration and polymetallic mineralization at 760 feet to 790 feet. The intercept contained 30 feet of 3.55% zinc, 1.87 ounce per ton silver, and 0.271% copper. Internal to this zone was 15 feet of 0.060 OPT gold and 20 feet of 0.21% lead. Importantly, this intercept proves the continuity of the ore zone an additional 115 feet down dip of the 2008 drill hole, or 415 feet below the Sonneman level. It remains open at depth.
Drill hole LO 7 was placed to test the down dip extension of the Laxey ore zone, the zone that produced a majority of the silver, zinc, copper, lead and gold during World War II. A portion of the ore zone was intercepted approximately 180 feet below the bottom of the Laxey Shaft which mined the zone over an 800-foot length. Assays for this intercept are pending.
The reverse circulation drilling was done under contract with EnviroTech Drilling, Winnemucca, Nevada. A map showing the location of the drill holes reported in this press release is located on the Company’s website www.thundermountaingold.com.
Qualified Person — G. Peter Parsley, Professional Geologist, is the Qualified Person as defined by National Instrument 43-101 responsible for the technical data reported in this news release.
About Thunder Mountain Gold, Inc.:
Thunder Mountain Gold, founded in 1935, 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 performs its own natural resource exploration and generates value for shareholders by demonstrating the value of its properties through a comprehensive drilling program and then seeking strategic partners to move the properties into production. South Mountain, its flagship property located in Owyhee County, Idaho — just north of the Nevada border, is 100% owned/controlled with a mostly private land package of over 1,200 acres. The Company’s other precious metals properties include Clover Mountain in Idaho, the Trout Creek and West Tonopah in Nevada, along with two properties in Arizona.
Forward-Looking Statements: Statements made which are not historical facts, such as anticipated production, exploration results, costs or sales performance 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, volatility of metals production, exploration project uncertainties, industrial minerals market conditions and project development risks. Refer to the Company’s Periodic Filings for a more detailed discussion of factors that may impact expected future results. Thunder Mountain Gold 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.