Thunder Mountain Gold has closed its non-brokered private placement, securing gross proceeds of US$5,663,316 through the issuance of 8,090,451 units at a price of US$0.70 per unit.

Each unit consists of one common share of the company and one-half of a common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at an exercise price of US$1.00 for a period of 24 months from issuance.

The proceeds will directly fund the ongoing 10,000-foot exploration drilling campaign at the flagship South Mountain Project in Idaho, alongside related assaying, geophysical surveys, and general administrative expenses. That program is designed to expand the carbonate replacement deposit massive sulfide resource and test specific geophysical targets across the site, building on the company's recent expansion of its district land position through a 20-year mineral lease covering approximately 3,675 acres of adjacent state-owned land.

In connection with the completion of the financing, Thunder Mountain paid a cash finder's fee of US$66,563 to four Canadian brokers and issued 94,089 non-transferable finder warrants. Each finder warrant entitles the holder to acquire one common share at US$1.00 for 24 months. The private placement remains subject to the final approval of the TSX Venture Exchange, and securities issued to Canadian subscribers are subject to a statutory four-month hold period under applicable Canadian securities legislation and exchange policies.

During the trading session coinciding with the announcement, shares of Thunder Mountain fell 0.83% on a volume of 9,075 shares.

Read the full announcement: Thunder Mountain Gold Announces Closing of Private Placement