Great Thunder Gold Announces $2,600,000 Private Placement, Eric Sprott Increases his Investment

Vancouver, July 23, 2020 - Great Thunder Gold Corp. (CSE: GTG) (OTC: MLBVF) (FSE: M4KQ) ("Great Thunder" or the "Company") is pleased to announce a non-brokered private placement financing ("Private Placement") of up to 4,000,000 units (the "Unit") at a price of $0.65 per Unit.

The Private Placement includes up to 600,000 Units to Mr. Eric Sprott, a strategic investor, and shareholder of the Company, as he increases his investment into Great Thunder.

Each Unit will consist of one common share and one-half of one warrant. Each full warrant will, in turn, entitle the holder to purchase an additional common share at a price of $0.85 for two years following the closing date. The net proceeds from the offering will be used to develop its properties in the Fenelon Gold Camp of Quebec and for general working capital purposes.

The Units will be subject to a hold period of four months following the closing date, except as permitted by applicable securities legislation and the Canadian Securities Exchange. The Private Placement is subject to the approval of the Canadian Securities Exchange.

The participation of Great Thunder Gold's officers and directors, and other related parties in the Private Placement will rely on sections 5.5(c) and 5.7(b) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. To the Company's knowledge, there is no material information concerning the Company or its securities that has not been generally disclosed.

About Great Thunder Gold

Great Thunder Gold is a junior Canadian mining exploration company focused on exploration and development along the Detour Gold trend in Quebec. The Company is one of the largest mineral claim holders next to the leading Wallbridge Mining (post-completed merger with Balmoral Resources).

On Behalf of the Board of Directors,
Great Thunder Gold Corp.

"Blair Naughty"
President & CEO

Investor Relations
Email: info@greatthundergold.com
Direct Line: (236) 513-4653
www.greatthundergold.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60362