Thesis Gold Files Pre-Feasibility Technical Report for the Lawyers-Ranch Gold-Silver Project

Core Viewpoint - Thesis Gold Inc. has filed the Pre-feasibility Study (2025 PFS) for its wholly owned Lawyers-Ranch gold-silver Project, highlighting strong economic metrics including an after-tax NPV5% of C$2.37 billion and an IRR of 54.4% at gold and silver prices of US$2,900/oz and US$35/oz respectively [1][7]. Project Overview - The Lawyers-Ranch Project is located in the Toodoggone District of Northern British Columbia and is fully owned by Thesis Gold Inc. [1][7]. - The 2025 PFS was prepared by a consortium of engineering and consulting firms in accordance with NI 43-101 standards [2]. Economic Highlights - The 2025 PFS indicates a pre-tax IRR of 73.5% and a pre-tax NPV5% of C$3.73 billion, with a quick payback period of 1.1 years [6]. - At higher metal prices of US$4,100/oz for gold and US$51/oz for silver, the project shows a pre-tax IRR of 117.4% and a pre-tax NPV5% of C$6.86 billion [6]. Production Metrics - The project is expected to have strong early production, averaging 266,000 ounces of gold-equivalent (AuEq) annually for the first three years and 187,000 ounces over a 15-year life of mine [6]. - The maiden Mineral Reserve statement reports 76.16 million tonnes of ore with an average grade of 0.97 g/t Au and 28 g/t Ag, resulting in a total AuEq grade of 1.33 g/t [6]. Cost Structure - The average All-in Sustaining Costs (AISC) are estimated at US$1,185 per AuEq ounce, which includes all costs associated with production [5][10]. - Initial capital expenditure is projected at C$736.2 million, with a compelling after-tax NPV5% to initial capital ratio of 3.2:1 [6]. Future Plans - The company has initiated the Environmental Assessment Process and plans to commence a Feasibility Study in 2026 to further advance the project [7]. - There is significant potential for project optimization and exploration that remains untapped [6].