Thunderstruck Resources Ltd. — Capital/Financing Update 2023

Jul 19, 2023

TSXV: AWE OTC: THURF

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Thunderstruck Provides Update

July 18, 2023 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) reports that it is extending the time for completion of its previously announced private placement (the “ Financing ”) to August 17, 2023 (see press releases dated July 6 and July 7, 2023). The Company completed an initial tranche of the Financing on July 7, 2023, raising aggregate gross proceeds of $80,499.90 through the sale 536,666 units at a price of $0.15 per unit (each a “ Unit ”) and still intends to raise a further $420,000 through the sale of up to 2,800,000 Units.

Each Unit will comprise one common share and one share purchase warrant. Each whole warrant (a “ Warrant ”) entitles the holder to acquire an additional common share at a price of $0.20 per share for a period of 36 months. The Warrants will be subject to an accelerated expiry provision such that if the closing price of the Company’s common shares is equal to or greater than $0.30 for a period of 10 consecutive trading days, the Company may give notice of the acceleration of the Warrants’ term to a period of 30 days following such notice.

Proceeds of the placement will be utilized as working capital and for repayment of liabilities. The placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.

Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One LIO:TSX.V), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (TuvatuPEA-Update-NI-43-101) and Namosi (Newcrest Mining NCM:ASX), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).

The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE” and United States OTC under the symbol “THURF.”

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For additional information, please contact: Bryce Bradley, Chief Executive Officer Email: bryce@thunderstruck.ca or, visit our website: http://www.thunderstruck.ca

THUNDERSTRUCK RESOURCES LTD.

www.thunderstruck.ca TSX-V: AWE OTC: THURF

Neither the TSX Venture Exchange Inc. 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 release.

This news release contains certain statements that may be deemed “forward-looking statements”. Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck’s management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THUNDERSTRUCK RESOURCES LTD. www.thunderstruck.ca TSXV: AWE; OTC: THURF