Thesis Gold & Silver Inc.

Description

Thesis Gold & Silver Inc. is a Canadian precious-metals developer advancing the 100%-owned, approximately 495 km² Lawyers-Ranch Project in north-central British Columbia. The project combines the Lawyers development area, the Ranch satellite area and district-scale exploration upside within the Toodoggone region.

The investment case is based on a large gold-silver reserve in a Tier 1 jurisdiction, strong PFS economics, meaningful silver contribution, established access and strategic validation from major mining shareholders. The 2025 PFS defines approximately 3.246 Moz AuEq of Proven & Probable reserves grading 1.33 g/t AuEq, a 15.2-year mine life, approximately 187 koz/year average AuEq production and US$1,185/oz AISC. At US$2,900/oz gold and US$35/oz silver, the study reports approximately C$2.37B after-tax NPV5, 54.4% IRR and a 1.1-year payback.

The 2026 programme combines feasibility-level engineering with approximately 20,000 m of drilling and a substituted provincial-led impact assessment. The company targets completion of a Feasibility Study before the end of 2027 and an environmental-assessment decision in early 2029.

List of Projects:

Project 1: Lawyers Area
British Columbia, Canada — Gold and silver. Core development area containing Cliff Creek, AGB and Dukes Ridge. The 2025 PFS includes open-pit and underground mining feeding a central approximately 13,700 tpd process plant. Lawyers contains most of the project's silver inventory.

Project 2: Ranch Area
British Columbia, Canada — Gold and silver. Higher-grade satellite area scheduled early in the PFS mine plan. It includes eight planned pits plus Bonanza, Ridge, Thesis II/III, BV, JK, Steve and Bingo. Current drilling targets resource growth, mine-life extension and deeper porphyry-style potential.

Project 3: Ranch East
British Columbia, Canada — Gold, silver and porphyry-style exploration optionality. Non-contiguous claims approximately 15 km east of Ranch. Mapping, copper-silver sampling and alteration support a separate porphyry target, but no current MRE is defined.

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