Thunder Mountain Gold Inc (OTC: THMG) is a mineral exploration company focused on gold exploration and development activities. The company generates no revenue from operations, as it does not have producing mines or commercial production. THMG is headquartered in Boise, Idaho, and operates as an exploration-stage company, funding activities through financing rather than sales. For the fiscal year ended December 31, 2025, the company reported a net loss of $2,829,759 ($0.03 per share), compared to a net loss of $631,111 ($0.01 per share) in FY2024. The increase in net loss was driven by higher exploration activity, professional fees, and stock-based compensation. Total operating expenses in Q4 FY2025 reached $903,862, a 369% increase over Q4 FY2024. The company carries no insurance against mining-related risks and acknowledges capital constraints limit the scope and pace of exploration. Eric T. Jones serves as President, CEO, and CFO, receiving $172,150 in total compensation in FY2025.

Revenue model

No revenue from operations as of FY2025. The company is exploration-stage and funds itself through external financing. It has no producing mines and no commercial production.

Products and services

Mineral exploration and development activities, including exploration of gold-bearing properties. The company maintains compliance obligations including a Storm Water Pollution Prevention Plan (SWPPP) under EPA NPDES permitting, managed by Idaho DEQ as of July 2021.

Customers and end markets

No customers or commercial end markets as of FY2025. The company has no revenue-generating operations.

Value-chain role

Early-stage mineral explorer. The company conducts exploration activities on mining properties but does not operate a producing mine, process ore, or sell metals. It sits at the pre-production stage of the mining value chain.

Geographic exposure

Operations based in Idaho, United States, including a mine site with infrastructure subject to Idaho DEQ oversight. Headquarters located at 11770 W. President Drive, Ste. F, Boise, ID 83713.

Source: SEC 10-K, filed 2026-03-31

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