Blue Thunder Provides Additional Information on Yukon Critical Metals Transaction

Toronto, Ontario--(Newsfile Corp. - August 1, 2023) - Blue Thunder Mining Inc. (TSXV: BLUE) ("Blue Thunder" or the "Company") is pleased to provide further information regarding the critical metals transaction (the "Yukon Critical Metals Transaction") announced on July 7, 2023.

The Company determined in the latter half of 2022 to acquire new mineral properties to advance its business and create value for its shareholders. The Company expected that the transaction with Analog Gold announced January 30, 2023, would be such an acquisition, but this transaction was terminated, as announced by the Company in its July 7, 2023, news release.

The Company previously considered the Yukon Critical Metals Transaction, but set this possibility aside when it agreed to do the Analog Gold transaction. When the Analog Gold transaction was terminated, the Company revisited this opportunity, which it believes is an accretive acquisition which will facilitate the Company pivoting into the critical metals space.

Dorian L. (Dusty) Nicol, the Company's CEO, said, "We made the strategic decision to focus on critical metals because we saw a path to enhance shareholder value by making accretive acquisitions of projects with significant discovery potential. We believe that the market interest in these critical metals will be long-term and that by adding these projects to our portfolio now, as well as by looking for additional acquisition opportunities of these metals, we will be ensuring the potential for long-term growth and value enhancement for our shareholders. We will be releasing further updates in due course."

The Yukon Critical Metals Transaction was considered by the board of directors of the Company (excluding Mr. Williams, who owns the private company which is the counterparty to the Yukon Critical Metals Transaction) and was unanimously approved by the board. Negotiations with Mr. Williams regarding the transaction were initiated by the Company. Mr. Williams was not involved in the negotiation of the Yukon Critical Metals Transaction on the Company side, and he abstained from the board vote to approve the transaction.

There are no prior valuations relating to the Yukon Critical Metals Transaction. The transaction is exempt from formal valuation under s. 5.5(b) of MI 61-101 Protection of Minority Security Holders in Special Transactions ("not listed on specified markets"). It is not exempt from the minority approval requirements of MI 61-101 - it will require approval by a majority of the Company's disinterested shareholders at a shareholders' meeting which will be called for this purpose.

It is presently anticipated that the definitive agreement respecting the Yukon Critical Metals Transaction will be signed by August 31, 2023, and that closing will happen following a shareholders' meeting prior to October 30, 2023. The Company will issue further news release and will file material change reports on entering into the definitive agreement and on closing the critical minerals transaction.

About Blue Thunder

Blue Thunder is an exploration company that controls several prospective critical metals (including copper, cobalt, tungsten, gold, and tin) properties in the Yukon and one prospective lithium property in Nevada. The company also owns 100% of a large land position near Chibougamau, Québec. The Muus Gold project covers approximately 51,000 hectares of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Muus Project is prospective for gold mineralization, as it is on strike from Iamgold's 5 million ounces Au Nelligan project. Field work completed during 2022 established that the northern portion of the Muus Project is prospective for copper-gold volcanogenic massive sulphide mineralization.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO & Director

For more information, please visit our website www.bluethundermining.com, or contact Mr. Dorian L. (Dusty) Nicol, dusty@bluethundermining.com (647) 848-1009.

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 release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company's properties or any potential exploitation thereof.

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