Thackeray Mines & Minerals Inc. Expands Gold Potential at Quartz Mountain Project, British Columbia

Thackeray Mines & Minerals Inc. is pleased to provide an update on the ongoing exploration program at its Quartz Mountain Project in British Columbia. The company reports assay results from the first eleven drill holes, totalling over 5,100 metres, out of a total of 24 diamond drill holes (10,657 metres) completed in the past six months.

Significant intercepts include:

• Drill hole TMMI-24-10: 24.4 metres grading 5.21 grams of gold per ton, including 6.8 metres at 4.99 grams per ton and 5.7 metres at 9.10 grams per ton
• Drill hole TMMI-24-07: 32.1 metres grading 21.67 grams of gold per ton, including 16.1 metres at 15.89 grams per ton

The 2024 summer drilling program targeted high-potential areas along a 1-kilometer trend and associated shear zones to enhance confidence and expand known zones of mineralization. This includes a recently discovered second zone located 200 to 400 metres north, as well as mineralization in a parallel lower shear zone. Structural patterns suggest the potential for additional mineralized shoots along this major corridor.

Results from hole TMMI-24-07, drilled in the new northern zone, confirm previous findings of multiple mineralized shears and may indicate an extension of the zone. Two areas of mineralization were also intersected, warranting further testing. Infill drilling has positively demonstrated continuity of the high-grade nature of this lens where tested. Further results from this drilling program are pending and will be assessed upon receipt, validation, and compilation.

"Assays from this drilling program continue to return encouraging results, including those from a new zone along the main hosting structure, as well as from a lower parallel shear zone. The potential for the discovery of additional mineralized shoots is considered extremely favourable. Once the remaining assay results are in hand, they will be assessed and may lead to an estimation of an initial mineral resource by year-end. Further drilling will be required to evaluate the potential of the new mineralized areas, the timing of which will depend on ground conditions to allow access for drilling equipment" - Dr. Barry Seabrook – Chief Geologist at Thackeray Mines & Minerals Inc.