Thesis Gold Announces Results of AGSM and Appointment of New Chief Executive Officer and Director

Vancouver, January 26, 2021 - Thesis Gold Inc. (TSXV: TAU) ("Thesis" or the "Company") is pleased to announce that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated December 7, 2020, were approved unanimously with 100% of the votes cast in favour of all matters put forth at the Company's Annual General and Special Meeting ("AGSM") held on Thursday, January 14, 2021.

The Company would like to thank its shareholders for their continued support and participation in the Meeting.

Appointment of New President & CEO

Thesis is also pleased to announce that Ewan Webster Ph.D., P.Geo. has been appointed as President, Chief Executive Officer, and Director to lead the Company's growth and expansion of its Ranch Gold Project. Dr. Webster's appointment expands the Company's Board of Directors to five.

Ewan holds a First-Class Honours degree (B.Sc.) in geology from the University of Glasgow, Scotland, a Geoscience B.C funded Ph.D., from the University of Calgary, and is a registered professional geoscientist in British Columbia (P.Geo.). Ewan has worked as an exploration geologist for a number of public companies in North and South America, on a variety of different deposit types. Ewan holds the position of senior geologist for the Metals Group of companies and has been instrumental in the advancement of Benchmark Metals Lawyers gold and silver project, adjacent to Thesis Gold's Ranch project. His experience and knowledge in the Toodoggone region of British Columbia will be tremendously valuable as we advance our district scale Ranch gold project.

Thesis Gold would like to thank Roy Bonnell for his tenure and dedication as CEO and will continue to seek his valuable counsel as a remaining board member.

Grant of Restricted Stock Units

The Company has granted 1,400,000 restricted stock units ("RSUs") to various directors, officers and consultants under the Company's RSU plan. The RSUs are payable in common shares of Thesis and will be vested in four equal installments of 350,000 over eighteen months.

About Thesis Gold

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project, please refer to the Company's website or current geological Technical Report dated September 18, 2020 available under the Company's profile on SEDAR at www.sedar.com.

On behalf of the Board of Directors
Thesis Gold Inc.

"Roy Bonnell"

Roy Bonnell
President, CEO and Director

For further information:

Nick Stajduhar
Director
Telephone: 780-701-3216
Email: nicks@thesisgold.com

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

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