Blue Thunder Mining Inc. Defines Drill Targets at Muus

Three IP and four EM surveys were completed over several target areas, followed by a field prospecting program.

Jean-François Métail, President of Blue Thunder commented: "We are very excited by the new information obtained from our recent work programs. The collected high-resolution geophysical data and excellent interpretation from our team have defined strong targets for our next drilling campaign."

2022 Field and Exploration Activities

In 2022, the Company concentrated on its flagship Muus Property, completing IP surveys over the Guercheville, Lac Caopatina, and Lac Irène target areas (see Press Release of April 13^th, 2022). In addition, EM surveys were completed over the Welb, Chinook, Muus-West, and Discovery target areas. The geophysics campaigns were followed-up with three weeks of field prospecting and sampling over these targets. Figure 1 depicts areas of 2022 field work to date.

Earlier in the year, Windfall-Geotek was retained to apply its proprietary Artificial Intelligence targeting software to the Muus Property's geological database (see Press Release of March 20, 2022). Eight areas of interest were highlighted as high-potential targets. The Company continues to compile and re-assess historical data in light of new information gleaned from recent field activities. These continued enhancements to the Company's integrated geological model are proving invaluable in defining areas of maximum exploration success.

2022 EM Surveys

The Welb gold showing comprises a set of 0.5-1.0 m thick east-west trending, sub-vertical quartz veins containing traces of pyrite, chalcopyrite and native copper, that crosscut ankeritized basalts and gabbros. The area has been previously exposed by trenching and has been channel-sampled.

A detailed structural interpretation of the EM survey anomaly map led to a better understanding of the internal structure of the Welb deformation zone, and provided a better understanding of the structural controls affecting the gold mineralization model.

As shown on Figure 2, the results of the EM survey can be interpreted as follow:

• Continuous high-conductivity zones: graphitic and/or mineralized sedimentary/volcano-sedimentary rocks.
• Continuous low-conductivity zones: background of unmineralized mafic volcanic rocks.
• Localized moderate-conductivity zones: e.g., Welb gold showing mineralization.

A spatial relationship between the moderate-conductivity zones and the presence of an east-west trending axial-plane (associated with D2 folding) intersected by a later north-east trending structure has been observed. The intersection of these 2 structural features is interpreted as a principal structural control on the mineralization at Welb. Using this new information, several drilling targets were defined for a future drilling program.

Interpretation of the EM surveys completed over the Discovery, Chinook and Muus-West grids is ongoing and expected to generate additional exploration targets.

2022 IP Surveys

The IP surveys over the Lac Bernard area show two types of geophysical targets, as follows:

• Chargeability associated with resistivity: silicified rocks with disseminated sulfides, potential "Nelligan-type" deposit.
• Chargeability associated with conductivity: potential polymetallic massive sulfides deposit.

Linear IP trends are coincident with several gold and arsenic anomalies defined by RC till-drilling results that following the local glacial dispersion trend. The hydrothermal alteration index (Faure, 2012) gives a good estimate of the footprint of the expected mineralization (Figure 3). Potential drilling targets at Lac Bernard are being defined.

The IP surveys completed at Lac Irène and Lac Caopatina are still being interpreted alongside with other information that has been compiled by our team to define the best targets in those areas.

2022 Follow-Up Prospecting

A short prospecting program was carried out in June 2022 to field-check geophysical and geochemical anomalies. Accessing bedrock in many of the targeted areas proved to be a challenge due to extensive and thick overburden, as well as widespread wetlands. Still, many of the samples collected show a high potential for gold and/or copper mineralization. Complete analytical results are pending.

Trenching on Lac Rane Area

Two trenches excavated in the Lac Rane area identified at least two massive sulfide ("VMS") lenses comprising pyrite, chalcopyrite and pyrrhotite.

The geological setting of the area has characteristics of a VMS depositional environment such as an interpreted rhyolite dome and a dalmatianite unit showing strong black-chlorite and silica alteration. This type of alteration is typically observed within a few hundred metres of the core zone of some VMS deposits. Further work remains to be done on this new target.

Analytical results of collected trench samples are pending.

References

Faure, S. (2012). Réévaluation de la géologie et des modèles d'exploration pour l'or dans le segment Caopatina-Desmaraisville, sud de Chibougamau. Rapport, Projet Consorem 2012-09, 57p.

Figure 1 - Location of 2022 Geophysics Surveys and field work.

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Figure 2 - Interpretation of the Welb area Max-Min Electromagnetic Survey.

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Figure 3 - Interpretation of the Lac Bernard area Induced Polarization Survey.

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About the Muus Property

Blue Thunder's Muus Gold project (the "Project") is among the largest aggregate claim holding in the Chibougamau Gold District (the "District"), comprising more than 51,000 hectares in five non-contiguous claim blocks (Muus, Fancamp, Muus East, Nisk and Embry properties). The Project is strategically located in the eastern part of the Archean Abitibi Greenstone Belt and underlain by several key regional structures, including the Guercheville Deformation Zone, the Fancamp Deformation Zone and the Philibert-Joe Mann Deformation Zone. These major structural discontinuities are associated with many of the known gold deposits and occurrences in the District, including the recently discovered Nelligan and Monster Lake deposits, which underlie properties adjacent to and along strike from some of Blue Thunder's properties. The Project is host to numerous underexplored mineralized occurrences, some currently being further explored. Mineralization underlying adjacent and/or nearby properties is not necessarily indicative of mineralization at the Company's properties.

QAQC and Qualified Person

The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by John Langton (P.Geo.), who is a Qualified Person (QP) as defined by National Instrument 43-101.

COVID-19

In conformity with guidelines proposed by the Québec government's Commission des normes, de l'équité, de la santé et de la sécurité au travail, the Company has implemented a strict COVID-19 management plan that complies with provincial government directives and guidelines with the main objective to safeguard the health and safety of its workers, stakeholders and local community members in light of the COVID-19 pandemic.

About Blue Thunder

Blue Thunder (TSXV: BLUE) (OTCQB: BLTMF) is a gold exploration company that controls 100% of a large land position near Chibougamau, Québec. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault‐sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious‐ and base‐metal mines in the District.

ON BEHALF OF THE BOARD

Chad Williams, Director

Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, Toronto, Ontario, M5H 2Y4
cslater@bluethundermining.com
(647) 848-1009

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

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company's properties or any potential exploitation thereof.