Elko, Nevada, Boise, Idaho and Vancouver B.C. – September 23, 2010: Thunder Mountain Gold, Inc. (OTCBB: THMG; TSX-V: THM-pending), is pleased to announce that its common shares will commence trading on the TSX Venture Exchange (the “TSX-V”) on Friday, September 24, 2010 under the trading symbol “THM”. The Company’s common shares will continue to trade in the U.S. on the OTC Bulletin Board.
The Company’s President, Jim Collord, stated, “We are pleased to finalize our listing on the TSX-V in order to gain access to the Canadian capital markets. It has been a long process and we are confident that the listing will greatly benefit our shareholders. We are also pleased to successfully close our latest financing, with the proceeds to be used on our flagship South Mountain Project located in southwestern Idaho. Drilling is scheduled to commence by early October on the extensive gold anomaly identified by the Company.”
Upon closing of the private placement, the Company will have approximately 27 million common shares issued and outstanding. As part of the Company’s listing requirements, an aggregate of 4,799,239 common shares controlled by Company Officers and Directors will be subject to the TSX-V’s value security escrow requirements, applicable to a Tier 1 issuer, and will be released from escrow as follows: 25% of the escrowed shares at the time of listing and 25% of the escrowed shares every six months thereafter.
As a result of Thunder Mountain’s receipt of TSX-V listing approval and commencement of trading, the Company is now in a position to close its previously announced non-brokered private placement. The Company will receive proceeds of US$922,330 (CAD$950,000) remaining from the sale of 6,208,271 Units. A finder’s fee will be payable to Haywood Securities Inc. on the CDN$950,000, equal to a cash commission of 10 percent and share purchase warrants equal to 10 percent of the Units sold in the Offering. Proceeds of the private placement will be used for exploration on the Company’s South Mountain Project, along with maintenance of other properties.
The securities were offered and sold in connection with applicable exemptions under U.S. and Canadian securities laws; and cannot be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
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 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 the Company and consists of a majority-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 and two properties in Arizona.
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.
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. 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.