Press Release, Thesis Gold Strengthens Board of Directors

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2021) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis" or the "Company") is pleased to announce the appointment of Dr. Thomas Mumford as a Director of the Company. In addition, Mr. Xiang has stepped down from the Board of Directors effective September 30, 2021 but will remain as an advisor to the Company.

Dr. Mumford is an exploration geologist with over 15 years experience. He has extensive technical and project management experience in Au, REE, Cu-porphyry, and U deposits. He is a registered professional geologist and professional engineering licensee with Engineers and Geoscientists British Columbia (EGBC), and currently acts as the Vice President, Exploration for Scottie Resources Corp. He is a director for the Association for Mineral Exploration (AME) and has served as a lecturer at Carleton University and British Columbia Institute of Technology. He holds a B.Sc. and M.Sc. from University of New Brunswick, and a Ph.D. from Carleton University which focused on magmatic controls of the Nechalacho REE deposit in the NWT.

"We would like to thank James for his contributions to Thesis over the past year and we look forward to continuing working with him in his new role as an advisor to the Company," Ewan Webster, President and CEO commented.

"I am delighted to welcome Thomas to the board. His extensive exploration experience will be invaluable to the Company as we continue to advance our Ranch Gold project."

The Company is also pleased to announce it has entered into a letter agreement (the "Letter Agreement") dated September 15, 2021 with Steven Scott, pursuant to which the Company acquired British Columbia mineral claim numbers 1074376, 1074335 and 1074333 (the "Acquisition") (Figure 1). The mineral claims are all British Columbia mineral claims that were originally staked and are owned by an arm's length third party, Mr. Scott (the "Vendor"). Under the terms of the Letter Agreement, the Company paid cash consideration the amount of $5,000 plus the cost of transferring the title of the mineral claims to the Company. No finder's fees were paid in connection with the Acquisition.

Figure 1: Ranch project outline and inset showing the acquired claims.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2191/98200_e9261cc5e4b709a0_001full.jpg

On behalf of the Board of Directors
Thesis Gold Inc.

"Ewan Webster"

Ewan Webster Ph.D., P.Geo.
President, CEO and Director

About Thesis Gold Inc.

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project, please refer to the Company's current geological Technical Report dated September 18, 2020 available under the Company's profile on SEDAR at www.sedar.com.

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President
The Howard Group Inc.
Email: dave@howardgroupinc.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

Nick Stajduhar
Director
Thesis Gold
Telephone: 780-701-3216
Email: nicks@thesisgold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.