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Thesis Gold Unveils Positive Prefeasibility Study for Lawyers-Ranch Project

In an exciting development for the mining sector, Thesis Gold Inc. has released promising findings from its independent Prefeasibility Study (PFS) for the Lawyers-Ranch Project, fully owned by the company and located in the highly productive Toodoggone Mining District of British Columbia. The results indicate a hefty after-tax Net Present Value (NPV) of $2.37 billion and an impressive Internal Rate of Return (IRR) of 54.4%. These figures reinforce Thesis Gold's position as a significant contender in the burgeoning mining sector, showcasing the economic viability of the project.

The PFS was meticulously prepared by a consortium of reputable engineering and consulting firms, including Ausenco Engineering Canada, Mining Plus Canada, Knight Piésold, and others, following the standards set out in National Instrument 43-101. This technical assessment reveals a comprehensive strategy for simultaneously developing both open pit and underground mining at the Lawyers-Ranch Project, leveraging economies of scale through centralized ore processing facilities.

Economic Highlights of the Prefeasibility Study

The PFS underscores several pivotal economic metrics:

• - Robust Profit Margins: At assumed gold prices of US$2,900/oz and silver at US$35/oz, the study estimates a pre-tax NPV5% of $3.73 billion and an astounding 73.5% pre-tax IRR. Should gold and silver prices rise to US$4,100/oz and US$51/oz, respectively, the project could yield an after-tax NPV of $4.36 billion and an IRR of 87.8%.
• - Production Capacity: The project anticipates strong annual production during its initial three years, averaging about 266,000 gold-equivalent ounces. Over its lifespan, the project is expected to produce approximately 2.84 million ounces of gold equivalent.
• - Extended Mine Life: The PFS indicates an extended mine life of 15 years, reflecting a 9% increase in processing tonnes from previous assessments, even after excluding inferred resources.
• - Low Operating Costs: The projected average All-in Sustaining Costs (AISC) per gold equivalent ounce sit at US$1,185, demonstrating the project's potential for sustainable operations.
• - Fast Payback Period: The project is poised to achieve a swift after-tax payback period of just 1.1 years at current metal prices, further enhancing its attractiveness to investors.

Strategic Advantages and Future Potential

Dr. Ewan Webster, Thesis Gold's President and CEO, expressed his enthusiasm regarding the PFS findings. He believes that these results solidify the Lawyers-Ranch Project’s standing as one of the most promising development-stage gold projects worldwide. The study not only emphasizes the project's strong early production profile but also suggests avenues for resource expansion and optimization going forward.

Furthermore, the PFS indicates substantial room for improving project economics through forthcoming engineering analyses and exploratory activities. Specific areas for potential enhancements include:

• - Optimization of Mine Sequencing: The study highlighted the value-added potential in scheduling high-margin ore extraction earlier in the project timeline, particularly from the Ranch Area.
• - Crown Pillar Recovery: Future assessments could unveil additional mineable ore without disrupting existing open pit forecasts.
• - Geotechnical Optimization: Modifications to pit geotechnics could enable improved extraction strategies, thereby increasing the overall viability of the underground mining component.

Environmental Considerations and Project Advances

As the project moves toward the next phase, Thesis Gold remains committed to environmental stewardship and the engagement of local Indigenous communities. The company's plans include initiating an Environmental Assessment process in late 2025, ensuring that the project aligns with both corporate and community standards while also fulfilling necessary regulatory requirements.

In summary, the Prefeasibility Study results from Thesis Gold's Lawyers-Ranch Project illuminate a pathway to robust economic performance, sustainable practices, and potential enlargement of the project scope. Prospective investors and stakeholders can look forward to informative updates and further developments as Thesis Gold continues to advance this compelling mining opportunity toward fruition.