News Releases

Vancouver, British Columbia--(Newsfile Corp. - July 23, 2020) -  Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or the "Company") is pleased to announce that 5,197,000 warrants have been exercised at $0.10, for total proceeds of $519,700.00. This represents a 93% rate of conversion with the remaining 7% now expired.

This comes just a month after the company announced closing its $1,050,450 private placement to commence drilling at its Liwa Creek Gold asset in Fiji (see release dated June 25, 2020).

"We again can't thank our shareholders enough for the vote of confidence in exercising this round of warrants," commented Thunderstruck President and CEO Bryce Bradley, "This gives us significantly more runway to strategically execute our exploration plans at Liwa."

The Company is also pleased to announce that it has entered into a strategic advisory agreement with Red Cloud Financial Services Inc. who will support the company to execute its new and aggressive corporate access strategy. As a kickoff to this program Red Cloud will be hosting a webinar featuring Thunderstruck on Wednesday July 29^th at 2pm EST. To register please click here.

Image 1

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About Red Cloud Financial Services Inc.

Red Cloud Financial Services is a globally oriented, resource-focused financial services platform which offers clients an extensive array of corporate access services including advisory, marketing and media.

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. 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".

For additional information, please contact:
Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60408

Drilling for Gold to Commence at Liwa Creek

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2020) -  Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or "the Company") is pleased to announce that it has closed an oversubscribed non-brokered private placement for gross proceeds of $1,050,450.00, with lead order from Palisade Goldcorp Ltd.

"We are ecstatic to have raised the funds necessary to commence exploration and drilling on our primary Liwa gold asset," stated Thunderstruck President and CEO, Bryce Bradley, 'Drill rigs have been approved for mobilization to site and drilling is set to commence shortly after their arrival. Myself and our entire team are thankful to all of our new and loyal shareholders and proud to be working in a country where strict policies have led to no new COVID cases for over two months. We will continue to work closely with authorities to ensure that our practices meet or exceed the high standard outlined by Fijian governing bodies."

Liwa Creek is characterized by a series of coincident geochemical and geophysical anomalies extending over three kilometres in strike and open in all directions.

Recent work by Thunderstruck (detailed in release dated June 8, 2020) has yielded surface trench results highlighted by 0.61 g/t gold over 71 meters at Liwa Ridge (see release dated February 13, 2018) as well as rock grab samples grading as high as 55.2 g/t gold at Jensen's Showing (see release dated October 11, 2019) and 42 g/t gold and 1,205 g/t silver at Lower Vatuvatulevu. An IP/Resistivity geophysical survey over four line-kilometers conducted last exploration season has detailed coincident anomalies at depth that will be targeted in this drill program (see release dated April 2, 2019).

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Gross proceeds of $1,050,450.00 were raised through the sale of 17,507,500 units at a price of $0.06 per unit (each a "Unit"). Each Unit comprised one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.10 per share for five years. The Company has elected not to include an accelerated expiry option on the Warrants.

The Company paid a total of $11,520.00 in finders fees in connection with the placement.

All securities issued are subject to a hold period in Canada expiring on October 25, 2020. Additional restrictions may apply pursuant to Rule 144 of the Securities Act of 1933, as amended, to U.S. investors. The private placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

Insiders participated in the private placement acquiring an aggregate of 1,270,000 units on the same basis as other subscribers. The participation in the private placement by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the private placement in so far as the private placement involved interested parties did not exceed 25% of the Company's market capitalization.

In other news, the Company has granted an aggregate of 1.7 million stock options exercisable at $0.08 per share to directors, officers, employees and consultants for periods of between three to five years.

About Palisades Goldcorp

Palisades Goldcorp is Canada's newest resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. 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".

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to its Liwa gold prospect.

For additional information, please contact:

Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58546

Vancouver, British Columbia--(Newsfile Corp. - June 8, 2020) -  Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck") announces that it has arranged a private placement of up to $1,000,000 to fund a drill program on its Liwa gold prospect in Fiji.

This will be the maiden drill program on a prospect that has been the focus of sporadic surface exploration programs for decades. Only in recent years, under direction of Thunderstruck's team, has a broader geologic understanding developed for the five separate targets spanning three kilometers that make up the Liwa prospect.

Recent work by Thunderstruck has yielded surface trench results highlighted by 0.61 g/t gold over 71 meters¹ (Liwa Ridge) as well as rock grab samples grading as high as 55.2 g/t gold² (Jensen's Showing) and 42 g/t gold and 1,205 g/t silver (Lower Vatuvatulevu). An IP/Resistivity geophysical survey over four line-kilometers conducted last exploration season has detailed coincident anomalies at depth that will be targeted in this drill program³.

"We're excited to raise the funds to drill our highly prospective Liwa gold asset," stated Bryce Bradley, Thunderstruck's President/CEO. "With five highly prospective gold-silver targets defined so far over a three-kilometer geologic structure, the potential scope for a discovery is exceptional."

¹See Thunderstruck news release dated February 13, 2018
²See Thunderstruck news release dated October 1, 2019
³See Thunderstruck news release dated April 2, 2019

Figure 1: 2019 Liwa Creek Prospect Rock Sample Results and 2020 Proposed Diamond Drill Holes

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The non-brokered private placement involves the sale of up to 16,666,667 units at a price of $0.06 per unit for aggregate gross proceeds of $1,000,000. Each unit will comprise one common share and one whole share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.10 per share for a period of 5 years. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company's common shares exceeds $0.20 per share for a period of 20 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 applied to the maiden drilling program on Liwa gold prospect and general working capital. The placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

Senior Exploration Geologist

Thunderstruck's Board of Directors is pleased to announce that Robert Phillips has joined the team as Senior Exploration Manager, with the bulk of his time to be spent on site in Fiji.

As a results-driven geologist with experience working for majors and juniors across the world, Mr. Phillips brings years of experience in drill program management, geochemical and geophysical program design and interpretation and ore body modeling.

As Project Geologist for global resource companies, he has advanced their understanding of deposits by managing all facets of the exploration process - sampling, mapping, drilling, interpreting results and creating 3D modeling and resource estimates.

He has also trained with the Canadian Armed Forces where he completed infantry, weapons and specialist training. That breadth of experience sets up Mr. Phillips to provide geological leadership and logistical oversight to the various Thunderstruck exploration programs which will soon be underway in Fiji.

Chief Financial Officer

Thunderstruck also welcomes Wilson Michael to the team as its Chief Financial Officer. Mr. Michael is a Fijian national and has acted as CFO for other resource companies in Fiji, so is familiar with industry-specific accounting requirements. He brings a sound knowledge of Fijian business practices and regulatory issues, having worked in various roles as accountant, CFO and manager for a variety of companies in the Pacific Islands, including property developers, international shipping operators, mobile phone companies and local municipalities.

Mr. Michael is an Associate of the Institute of Chartered Secretaries and Administrators.

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. 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 (TSXV) under the symbol "AWE" and United States OTC under the symbol "THURF".

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to the Liwa Creek Prospect.

For additional information, please contact:

Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57428

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck") is pleased to announce its 2020 exploration program (the "Program) on its Korokayiu Zinc/Copper Prospect ("Korokayiu") in Fiji with JV partner Japan Oil, Gas and Metals National Corporation ("JOGMEC").

Bryce Bradley, President and CEO of Thunderstruck Resources, commented: "After the high-grade copper and zinc drill results from 2019, we are eager to get started on our second year of drilling with our partners at JOGMEC. Like other industries and sectors, we've experienced setbacks and delays due to the pandemic, so we're thrilled to be finally starting our 2020 exploration program. Thunderstruck is fortunate in that our exploration season in Fiji coincides with the gradual re-opening of the global economy. As of this writing, Fiji no longer has any new cases of COVID-19, so local Fijian employees are free to prepare the camp, maintain roadworks and build drill pads now throughout the month of June, with social distancing measures in place, in expectation of the full-scale commencement of the exploration program at the beginning of July, or earlier, once their borders fully re-open."

The program over the next year includes:

1. Geology, mapping and soil/rock geochemistry at and around the seven presently known target areas.

2. Induced Polarization (IP) survey at Wainaleka and its extension (Kove Kove ~ Echo Creek) to fine-tune definition of drill targets. Additional IP surveys may be carried out at Kula Creek and Palu Creek depending upon results from the mapping and rock/soil geochemistry at those target areas.

3. Drill program of at least 1500m to test lateral and depth extensions of the mineralized zone outlined by earlier drilling, consisting of at least three diamond core holes conducted on the high-gravity anomaly, with additional holes based on results from the IP survey, mapping and soil/rock geochemistry.

4. Two or three shallow diamond holes at Wainaleka to obtain samples from the mineralized zone for processing test work in order to get a first estimate of recoverability and projected concentrate quality.

Figure 1: Korokayiu joint venture property, showing the recently extended area. After last year's drill results, the Korokayiu property has been expanded from 30 square kms to 136 square kms

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The Schedule for the Program is tentatively as follows:

Table 1

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MOBILIZATION OF DRILLER

Thunderstruck has commissioned Bonga Drilling, of Vancouver, Canada to mobilize two diamond core drills to Fiji, in preparation for the Korokayiu drill program. Bonga has a solid reputation for getting good core recoveries quickly and efficiently, with a fee structure heavily slanted toward production. They have agreed to leave their drills on-site in anticipation of further drilling for Thunderstruck in the near term.

WAINALEKA ZINC/COPPER PROSPECT

Wainaleka is a high-grade zinc-copper-silver volcanogenic massive sulphide (VMS) discovery drilled by Anglo Pacific in 1977. That 15-hole, 1,763-metre Anglo diamond drill program intersected highly anomalous values including:

• 6.2m @ 1.8% copper, 12.0% zinc and 25 g/t silver (WLK-1A)
• 10m @ 2.3% copper, 5.5% zinc and 47 g/t silver (WLK-4)
• 15.5m @ 1.5% copper, 1.3% zinc and 8.0 g/t silver (WLK-10)

The Anglo drilling results left the main mineralised zone open at both ends and at depth. True widths are estimated to be 80%-100% of the drilled intercept. Geologic mapping indicates a 15 km prospective strike length; including eight additional, under-explored zinc-copper VMS prospects (see Company's press release dated February 28, 2019).

ABOUT JOGMEC

JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for Japanese industries. To achieve that objective, they contribute financial and technical resources to exploration, development, production and other measures intended to provide a long-term supply of key metals.

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture of Newcrest, Mitsubishi and Nittetsu. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu) (please see Company's Press Release October 19, 2019). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

ABOUT THUNDERSTRUCK RESOURCES

Thunderstruck Resources is a Canadian mineral exploration company that has assembled four extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. 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".

On behalf of Thunderstruck Resources Ltd.

Bryce Bradley
President/CEO, Director

For additional information, please contact:

Rob Christl, Investor Relations Manager
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 778 840-7180

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56278

Results Prompt Company to Increase Land Position From 30 to 136 Square Kilometres

Vancouver, British Columbia--(Newsfile Corp. - January 30, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (The "Company") is pleased to report significant assay results for the remaining diamond drill holes completed during 2019 on its Korokayiu Joint Venture zinc-copper VMS prospect. Based on the strength of these and previously reported 2019 drill results, together with other recent results from the project, the JV has applied to increase the tenement holdings by over 350%. Arrangements are underway to begin the next phase of drilling, which will be focused on scouting holes and completely funded by the JV partner.

Highlights

• Drill hole WLK17 intersected 13.8% zinc (Zn), 2.94% copper (Cu), 114 grams-per-tonne silver (g/t Ag), and 1.08 g/t gold (Au) over a drill core interval of 11 metres. The hole was collared 80 metres east along strike from the Korokayiu VMS Discovery Outcrop to infill and verify historical drill intercepts reported by Anglo Pacific Prospecting Ltd. ("Anglo") in the 1970s.
• Drill hole WLK16A, collared 120 metres south of WLK17, intersected 21.6% Zn, 2.0% Cu, 81 g/t Ag, and 0.42 g/t Au over a drill core interval of 2.77 metres.
• These highly encouraging results greatly elevate the potential of the eight additional, underexplored zinc-copper VMS prospects along 15 kilometres of prospective geologic trend.
• As VMS deposits commonly occur in clusters, the JV has applied to increase the tenement from 30 sq kms to 136 sq kms to adequately bracket the district.

Bryce Bradley, Thunderstruck's President/CEO, stated "Zinc grades have increased 2.5 times for two of our modern diamond drill holes versus the historically reported Anglo drill intercepts. Our current drilling program has also shown a sizable increase in copper, gold and silver grades relative to historical data. We are now in the process of securing a rig capable of testing these showings further down dip as well as continuing to test them laterally. This next phase of scouting holes will help to give size and direction beyond the historical discovery. And since the Korokayiu program is fully funded, it gives Thunderstruck the opportunity to advance its efforts on our other three 100%-owned projects in Fiji."

Map 1

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The Korokayiu tenement features approximately 15 kilometres of prospective geologic strike length, including eight additional, underexplored zinc-copper VMS prospects (see Thunderstruck News Release August 19, 2019). The results of 2019 geologic mapping and prospect assessment indicate that the geologic horizon and volcanic stratigraphy hosting the Korokayiu VMS mineralization and other high-priority prospects may extend outside the current landholdings. VMS deposits worldwide commonly occur in clusters within districts, with one or two large deposits and many smaller deposits/prospects.¹ The move to expand the Korokayiu landholdings will allow the JV to capitalize on the potential for additional VMS discoveries.

The exploration program on Korokayiu is funded by Japan Oil, Gas and Metals National Corporation (JOGMEC), a Japanese agency funded by the national government with the intent of discovering large-scale mineral deposits that will benefit Japanese industry.

Details

Drill hole WLK17 intersected 13.8% zinc (Zn), 2.94% copper (Cu), 114 grams-per-tonne silver (g/t Ag), and 1.08 g/t gold (Au) over a drill core interval of 11 metres² (Table 1 and Figure 1). WLK17 (-45^o dip / 334^o azimuth) was collared 80 metres east along strike from the Korokayiu VMS Discovery Outcrop to infill and verify historical drill intercepts reported by Anglo. The mineralization is hosted by intensely altered fragmental volcaniclastic dacite hosting massive sphalerite-chalcopyrite-pyrite mineralization.

The WLK17 intercept is significant in that it represents the highest-grade drill intercept to date, current or historically reported, from Korokayiu. WLK17 was in part designed to twin historic hole WLK4, drilled by Anglo over 40 years ago, which returned assays of 5.5% Zn and 2.3% Cu over a drill core interval of 10 metres.^2,3 The fact that WLK17 returned a zinc grade 2.5 times that of WLK4 underscores the importance of modern verification drilling at Korokayiu and its potential to add value to the project.

Drill hole WLK16A, collared 120 metres south of WLK17, was designed to test the depth extent of high-grade massive sulphide mineralization intersected in Thunderstruck's recent 2019 drill hole WLK14B, and disseminated mineralization within WLK14A. WLK16A (-60^o dip / 334^o azimuth) intersected fine-grained felsic volcaniclastic rocks hosting clastic semi-massive to massive sphalerite-chalcopyrite-pyrite mineralization that assayed 21.6% Zn, 2.0% Cu, 81 g/t Ag, and 0.42 g/t Au over a drill core interval of 2.77 metres² (Figure 2). Similar to WLK17, drill hole WLK16A returned a zinc grade 2.5 times that of the historic Anglo drill hole that it was designed to twin, WLK11, which returned 8.3% Zn and 2.8% Cu over a 2.1-metre drill core interval.^2,3 Drill hole WLK16B (-90^o dip) collared from the same setup did not intersect significant mineralization, similar to historic Anglo drilling nearby.

Table 1: Korokayiu Cu-Zn Deposit 2019 Significant Diamond Drill Intercepts

¹Gemmell, J.B., PhD. (2018) Review if Fijian Volcanic-hosted Massive Sulfide (VHMS) Prospects, Confidential Report for Thunderstruck Resources, June 2018
²The true width of mineralization is estimated to be 80-100% of the drilled interval
³For full descriptions of mineralized intercepts see: Technical Report on Aljen (Pacific) Mineral Properties Viti Levu, Fiji, Prepared for Thunderstruck Resources Ltd., September 15, 2014

The 2019 Korokayiu Joint Venture (JV) zinc-copper volcanogenic massive sulphide (VMS) prospect diamond drill program comprised seven drill holes totaling 904 metres designed to verify the presence of historically reported copper-zinc massive mineralization and further test the extent of the deposit area.

Figure 1: Korokayiu WLK17 Drill Section

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Figure 2: Korokayiu WLK16A/16B Drill Section

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Stock Option Grant

The Company announces that it has granted an aggregate of 1,100,000 options to various directors and consultants, with each option being exercisable into one common share at a price of $0.075 per share for a period of 10 years.

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About JOGMEC

JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for their industries, and contributes to a wide range of fields including surveying, exploration, financial support for Japanese companies and stockpiling, to recycling and environmental protection.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. 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."

Methodology and QA/QC

The analytical work reported on herein was performed by Australian Laboratory Services Pty. Ltd. (ALS) at Perth, WA. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Thunderstruck Resources and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250 gram split to 85% passing 75 microns (PREP-31). A 0.25 gram sample pulp was then subject to 4-acid (HF-HNO₃-HClO₄) digestion and analysis via 33 element ICP-AES analysis (ME-ICP61) for base metals and silver, and 30 gram fire assay fusion (Au-AA25) for gold determination. Base metal over limit values returning greater than 1%, or greater than 100 g/t for silver, were analyzed by four-acid digestion of a 0.40 gram sample pulp, followed analysis via ICP-AES (ME-OG62).

Thunderstruck Resources follows industry standard procedures for the work carried out on the Korokayiu prospect, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Thunderstruck Resources detected no significant QA/QC issues during review of the data. Thunderstruck Resources is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to Korokayiu VMS prospect.

For additional information, please contact:
Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51954