news release thunder mountain gold and bemetals agree to terminate the south mountain project option agreement boise, idaho and vancouver b. c. - december 30, 2022 : thunder mountain gold, inc. ( otcqb : thmg ; tsx - v : thm ), ( the " company " or " thmg " ) announced today that effective december 29, 2022, the company has agreed to the termination of the option agreement ( the " option agreement " ) with bemetals corp. ( tsxv : bmet, otcqb : bmtlf, frankfurt : 1oi. f ) ( " bemetals " ), to acquire up to a 100 % interest in the south mountain project ( " south mountain " or the " project " or the " property " ) in southwest idaho, u. s. a. eric t. jones, president and ceo of thunder mountain gold inc. commented, " we appreciate the hard work and capital that bemetals has provided to advance the south mountain project. thunder mountain gold inc. remains committed to advancing the project through the next phase and expects to raise necessary capital through equity financing or partnerships with other strategic partners who have expressed interest. we believe our project has tremendous potential to be a low - cost producer of zinc, silver, and gold, with copper credits. " the south mountain project the south mountain mine is a high - grade polymetallic pre - development project focused on zinc, silver, gold and copper, located seventy miles southwest of boise, idaho ( see figure 1 ). high - grade mineralization occurs as a carbonate replacement deposit ( " crd " ), both in massive sulfide zones, and skarn - altered mineralized zones. the project was intermittently mined from the late 1800s to the mid - 1950s and its existing 8, 000 + / - feet of underground workings remain intact and well - maintained. historic production at the project has largely come from high - grade massive sulfide bodies that remain open at depth and along strike. according to historical smelter records, approximately 53, 642 tons of mineralized material was mined, milled, and smelted. these records also indicate average grades ; 14. 5 % zn, 363. 42 g / t ag, 1. 98 g / t au, 2. 4 % pb, and 1. 4 % cu. ( see ni 43 - 101 technical report : updated mineral resource