Thomson Resources : Large Gold System Confirmed at Harry Smith

ASX ANNOUNCEMENT

21 January 2021

LARGE GOLD SYSTEM CONFIRMED AT HARRY SMITH

HIGHLIGHTS

• Assays received from 11 holes drilled at the Harry Smith Gold Project located in the Lachlan Fold Belt in New South Wales with all holes intersecting significant gold
• Wide intersections indicate open-pitgold potential
• Significant intercepts from this drilling program include:

1. HSRC18 - 7m at 4.4 g/t Au from 23m depth (within 87m at 0.9 g/t Au from 22m)

1. HSRC21 - 5m at 4.1 g/t Au from 21m depth (within 14m at 1.8 g/t Au from 12m)

1. HSRC15- 9m at 2.2g/t Au from 69m depth (within 90m at 0.6 g/t Au from 31m)

1. HSRC24 - 8m at 2.1 g/t Au from 44m depth (within 18m at 1.3 g/t Au from 35m)

1. HSRC17 - 11m at 1.7 g/t Au from 38m depth (within 84m at 0.5 g/t Au from 29m)

1. HSRC19 - 6m at 1.1 g/t Au from 66m depth (within 46m at 0.5 g/t Au from 62m)

• 1. HSRC25 - 6m at 1.1 g/t Au from 102m depth (within 20m at 0.6 g/t Au from 90m)
• Drilling has successfully extended the known mineralisation to the west and north west as well as connected the Harry Smith and Silver Splay lodes
• High priority follow up drilling will consist of both in-fill and extensional drilling to the west where mineralisation remains open

Thomson Resources (ASX: TMZ) (Thomson or the Company) advises strong gold results have been returned from the Phase-3 drilling program at the Company's 100% owned Harry Smith gold project, located in the Lachlan Fold Belt in New South Wales.

Thomson's previous drilling programs discovered thick low- grade gold mineralisation from surface as well as deeper high- grade lodes.1 The December 2020 drilling program was designed to extend the known mineralisation.2

The program has extended the Silver Spray and Golden Spray lodes to the west and northwest; and connected the Harry Smith lode to the Silver Spray lode (Figure 2).

Figure 1 - RC rig on site drilling at the Harry Smith gold project

1. ASX Releases dated 16 September 2016, 26 March 2018, 19 June 2018, 16 January 2019 and 29 January 2019
2. ASX Release dated 3 December 2020

THOMSON RESOURCES LTD ASX:TMZ ABN 82 138 358 728

1

Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

21 January 2021

The mineralisation is open to the west and further drilling is planned to extend the lodes in that direction.

Commenting on the results, Executive Chairman David Williams:

"These latest results from the Harry Smith Gold Project are highly encouraging and mark a further significant exploration success for the Company. Not only have all holes intersected significant gold, but the continuity of these high-grade and relatively shallow results bodes extremely well for the development of a commercial scale open pit resource.

This is exemplified by the presence of high-grade mineralisation in holes HSRC17 and HSRC15 which have provided us with evidence that the Silver Spray and Harry Smith lodes are in fact one large system as opposed to two separate lodes.

With mineralisation remaining open to the west we look forward to getting to work on the next phase of drilling with the objective of extending the known mineralised footprint and delivering further value to shareholders."

Figure 2 - Thomson Resources December 2020 drilling at Harry Smith. Historic workings indicated.

THOMSON RESOURCES LTD ASX:TMZ ABN 82 138 358 728

2

Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

21 January 2021

Harry Smith Drilling Detailed

Holes HSRC15 and HSRC17 were drilled in the gap between the small Silver Spray workings and the historic Harry Smith shallow open pit. Wide intercepts of gold were returned from both holes (e.g. 90m at 0.6g/t Au from 31m depth) with several higher-grade intervals, such as 9m at 2.2g/t Au from 69m depth in hole HSRC15 (see Table 2).

Figure 3 -Section of the Silver Spray lode (see Figure 2 for location).

At Silver Spray holes HSRC18 (Figure 3) and HSRC19 extended the mineralisation down dip with strong, wide intercepts. Particularly notable was HSRC18 with 87m at 0.9 g/t Au from a shallow 22m depth and a high-grade section at the top of that with 7m at 4.4 g/t Au from 23m depth.

Most of the intervals exhibit strong weathering in these meta siltstones and sandstones, which ordinarily might indicate that some supergene dispersion is occurring, accounting for the wide intercepts. However, significant quartz veining was logged in these holes at multiple depths throughout the mineralised intervals, suggesting that the width is in fact an original feature.

THOMSON RESOURCES LTD ASX:TMZ ABN 82 138 358 728

3

Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au

ASX ANNOUNCEMENT

21 January 2021

At Golden Spray (Figures1 and 4) holes HSRC24 and HSRC25 added substantial intercepts to the north-westernmost section with 18m at 1.3 g/t Au from 35m depth and 6m at 1.1 g/t Au from 102m depth respectively, indicating that the mineralisation is open to the northwest. Follow up drilling will target this area.

Figure 4 -Section at the western end of the Golden Spray lode (see Figure 2 for location).

THOMSON RESOURCES LTD ASX:TMZ ABN 82 138 358 728

4

Level 1, 80 Chandos Street, St Leonards, NSW 2065

Tel: [phone] E:[e-mail] www.thomsonresources.com.au