ELKO, Nev., Feb. 20 /PRNewswire-FirstCall/ -- Thunder Mountain Gold, Inc. (BULLETIN BOARD: THMG) is pleased announce the following updates to shareholders:
1. At a special meeting of shareholders held in Boise, Idaho on January 25, 2008, the Company received shareholder approval to move the corporation from Idaho to Nevada. The Company has been an Idaho corporation for over eighty years, but the move to Nevada will maximize the potential for growth. The number of authorized common shares has been increased from 12 million to 200 million, plus 5 million preferred. The move to Nevada will also provide an updated corporate structure so that decisions that allow for growth of the Company can be made in an efficient manner. 2. Effective February 11, 2008 Eric T. Jones was appointed as Vice President of Investor Relations and Corporate Development. He will be working directly for the Company in that capacity and will be devoting his time to improving the Company's value in the market place. This position is critical as additional funding will be necessary in order to expand exploration efforts on the South Mountain Mine Project. Eric has had a varied professional career that spans nearly twenty years. After receiving a degree in geological engineering (BS 1986, University of Idaho), he worked in the mining industry for Hecla Mining and Dakota Mining in the position of Project Manager, Environmental Manager and Mine General Manager at mines in Nevada and Idaho. In 1997, Eric started the Mountain West Capital Group in Boise, a successful private equity fund. His most recent professional work was with NxEdge (2003-2008) where he was involved with business development, production and operating plans. With the efforts to grow the Company, and the addition of Eric to the staff, an office has been opened in Boise. The office will be the base of operations for exploration, particularly the South Mountain Mine Project, and for corporate affairs. Jim Collord, President, has closed the Elko, Nevada office and is working out of his home in Elko, as well as the Boise office. 3. Thunder Mountain Resources, Inc., a wholly-owned subsidiary of the Company, has contracted with Kleinfelder, a consulting firm, to review the extensive historic data on the South Mountain Mine. The extensive data set consists of surface mapping and sampling, underground sampling and drilling, and production information collected from the pre-World War II period through the work completed by South Mountain Mines in the 1980s. They will also assist in the development of a three-dimensional model for all the underground workings and drill data. Their deliverable report will be a 43-101-quality technical report based solely on the information made available to the Company through the acquisition of South Mountain Mines, Inc. in 2007. The synthesis of information will guide the exploration program planned for 2008, and will further assist in raising the needed funds for exploration.
Jim Collord, President of the Company, said of these developments, "The whole Thunder Mountain Gold Team is excited about growing the Company. These recent steps have set the stage to do just that, and we are now poised to continue our exploration efforts. Our South Mountain property, located about 70 airline miles from Boise, will be the main focus of our attention this year. Eric Jones, the newest member of our Team, will add great shareholder value by ensuring the market understands our goals and successes."
About Thunder Mountain Gold, Inc.:
Thunder Mountain Gold is an exploration company focused on the generation of precious and base metal projects in the Western United States, Mexico, and Alaska. Thunder Mountain Gold performs its own natural resource exploration and generates value for shareholders by aggressively developing high-grade, high-quality precious and base metal resources in politically stable mining regions.
Forward-Looking Statements: Statements made which are not historical facts, such as anticipated production, exploration results, costs or sales performance are "forward-looking statements", and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals prices volatility, volatility of metals production, exploration project uncertainties, industrial minerals market conditions and project development risks. Refer to the Company's Periodic Filings for a more detailed discussion of factors that may impact expected future results. Thunder Mountain Gold undertakes no obligation to publicly update or revise any forward-looking statements.
Cautionary Note to Investors -- The United States Securities and Exchange Commission ("SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.
