| August 6, 2020 | bluethundermining.com|

BLUE THUNDER MINING INC TSX-V:BLUE

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Forward Looking StatementsThis document contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other thanstatements of historical fact, included herein including, without limitation, statements regarding the anticipatedcontent, commencement, anticipated exploration program results, the timing of exploration due to restrictionsrelated to the COVID-19 outbreak, whether future exploration results are similar to those documented fromhistorical work 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 noassurance that such expectations will prove to be correct. Forward-looking statements are typically identified bywords 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-lookingstatements by the Company are not guarantees of future results or performance, and that actual results maydiffer materially from those in forward looking statements as a result of various factors, including, but not limitedto, the state of the financial markets for the Company's equity securities, the state of the commodity marketsgenerally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations inthe market price of any mineral products the Company may produce or plan to produce, the inability of theCompany to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, forits planned activities, the inability of the Company to produce minerals from its properties successfully orprofitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement itsbusiness strategies, and other risks and uncertainties. All of the Company's Canadian public disclosure filingsmay be accessed via www.sedar.com and readers are urged to review these materials, including the technicalreports filed with respect to the Company's mineral properties. This document contains information with respectto adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has nointerest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right toacquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, onadjacent or similar properties, are not indicative of mineral deposits on the Company's properties or any potentialexploitation thereof.

Qualified Person

John Langton, M.Sc., P. Geo., owner of JPL Geoservices, is the Qualified Person under NI 43-101 on standards ofdisclosure for mineral projects.

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“The Nelligan and Monster Lake gold discoveries are potential game

changers for the district and will attract attention on our nearby Muus

Project

Blue Thunder Mining has the right ingredients, in a great location and

at the right time to make amazing mineral discoveries.

We are very excited and have high expectations.”

– Chad Williams, Executive Chairman

2020 has been busy…

but we’re just getting started!February 2020

• Blue Thunder Mining Inc. formed through RTO

• Commences trading on TSX-V under ticker symbol “BLUE”

May 2020

• Acquired the Fancamp and Embry properties from O3 Mining - Muus Project grows to

five properties, totaling 51,000 ha of prime exploration ground

• Compilation, digitization and re-interpretation of hundreds of historical reports and

images

June/July 2020

• Raised $2.3 million through a private placement

• Developed a strong, Québec-based exploration team

• Designed a two-phase exploration program to advance the three principle target areas;

many more targets remain to be evaluated

• Commenced excavator-based trenching and mapping and sampling

Summer/Fall 2020

• Blue Thunder’s first drill campaign to commence on Fancamp and Muus properties

2020 Goals and Beyond

• Continue to identify exceptional opportunities for growth and create

value for our shareholders

• Have the best team in place to unlock value from our projects

• Work within a culture of honesty, integrity and transparency

• Respect our host communities and the environment

• Become the “Go To” Junior in Québec

• Aim big and make new discoveries!

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Blue Thunder Highlights

➢ LARGE STRATEGIC LAND POSTION IN GEOLOGIC HOT SPOT

• 100% interest in the Muus Project; five properties totaling ~51,000 ha in the Chibougamau Gold

District, focus of intense recent consolidation, staking and M&A

• Strategically covers ~24 km of the Guercheville Deformation Zone and ~8 km of the Fancamp

Deformation Zone, both of which are host to many gold showings, deposits and historical mines

• Recent gold discoveries at nearby Nelligan Deposit (97 Mt at 1.0 g/t Au Inferred Resource1) and

Monster Lake Deposit (1.11 Mt at 12.14 g/t Au Inferred Resource2)

1Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources2Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp

Note that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of

mineralization hosted on the Company's property.

➢ DRILLS WILL BE TURNING SOON

• Prospecting, mapping, trenching and channel sampling program underway - Phase I

• With $2.3M financing completed, expanded ~4,500m drill program to begin in mid-August - Phase II

• Focus is at Fancamp, an advanced gold exploration play with five identified gold zones situated

along a significant structural trend

➢ OPERATING IN ONE OF THE BEST JURISDICTIONS • Quebec rated among the best mining jurisdictions in the world by the Fraser Institute (2019)

• Excellent access and infrastructure; ~55 km SSW of Chibougamau; good road access; power and

rail nearby

Blue Thunder Share Structure(as of August 6, 2020)

TSXV:BLUE

80.39 M shares outstanding7.28 M options10.51 M warrants 98.18 M fully diluted$11.7 M Market Capitalization

$0.9 M cash (as of March 31, 2020 -excludes $2.3mm private placement)

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Principal Shareholders

28.8%

23.5%

9.0%

8.3%

5.7%

24.8%

O3 Mining

Board and

Management

Honey

Badger

Red Cloud

Mining

Capital Inc.Retail and

Others

Institutional

Investors

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Muus East

Nisk

Muus

Nelligan

Chapais

Monster Lake

Chevrier

Joe MannPhillibert

Meston

Fenton

Fancamp

Embry

Historic Chibougamau-Chapais Mining Camp (2): 3 billion pounds of copper and 4 million ounces of gold produced

Chibougamau

Well-maintained Forestry Service gravel

road provides direct access to property

Chibougamau Gold District

Muus Project Location and Claims

(1) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources

(2) DV 98-04, Geology and Metallogeny of the Chapais-Chibougamau Mining District, Pierre Pilote

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MUUS PROJECT - HISTORICAL CONTEXT

➢ Muus was explored 1950’s to 1980’s; Fancamp mostly drilled 1950’s to 1990’s; Nisk

and Muus East remain mostly unexplored.

➢ Previous work includes 343 core holes; shallow and wide-space

→ Anomalous assays were generally not followed-up

RECENT BLUE THUNDER EXPLORATION

➢ In 2017 Blue Thunder acquired Muus (12,000 ha); currently grown to ~51,000 ha

through staking and low cost option agreements.

➢ Exploration on Blue Thunder claims includes:

• Aeromagnetic survey in early 2019 (covering the original Muus block (50-100 m

spaced flight lines)

• Helicopter aeromagnetic survey (50-250 m spaced flight lines) in late 2019

covering the newly acquired ground at Muus, as well the Muus East and Nisk

properties

• Regional prospecting/sampling and a trenching/sampling program at the

prospective Welb Showing

The recent Nelligan1 and Monster Lake1 discoveries highlight the prospectivity of this gold district

1- Note that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of

mineralization hosted on the Company's property.

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Muus Project: Priority Target Areas→ Focus is on Target Areas 1, 2 and 3

Priority I Target Areas

Priority II Target Areas

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2 3

Adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

Monster Lake Deposit (1): Inf: 1.1Mt @ 12 g/t = 433Koz Au

Philibert Deposit (4): 1.4Mt @ 5.3g/t = 200Koz Au

Meston Deposit (4): 1.2Mt @ 6.3g/t = 200Koz Au

Nelligan Deposit (2): Iamgold/Vanstar JV

Inf: 97Mt @ 1.0 g/t = 3.2Moz Au

Chevrier Main Zone Deposit (3): Ind: 11Mt @ 1.2 g/t = 423KozInf: 6.3 Mt @ 1.3 g/t = 259Koz

(1) Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp

(2) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources

(3) Chevrier NI 43-101 Tehcnical Evaluation Report, Feb 4, 2019, Prepared for Genesis Metals Inc

(4) Historical Resource estimate - Not in compliance with NI 43-101 and should not be relied upon

Muus East

Nisk

Muus

Fancamp

Joe Mann Mine Historical Production (4):

1.8Moz @ 8.5 g/t Au

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2020 Exploration Program – Priority I Target Areas

➢ Target Area 1: Focus will be on the Fancamp A and B-Zones,

where high-grade gold intervals have been returned from historic

drilling and surface channel sampling

➢ Target Area 2: Covers ≈17 km segment of the Guercheville

Deformation Zone (“GDZ”) along the west-northwest trending

sediment-volcanic contact extending from the Nelligan gold deposit

(3.2M inferred ounces)

➢ Target Area 3: Occurs at the cross-roads of the Fancamp and the

Guercheville Deformation Zones - two major regional structural

corridors and prime setting for classic Abitibi style lode gold deposits

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Phase I : Evaluation of Target Areas 1, 2 & 3 (underway)

➢ Regional prospecting and mapping

➢ Excavator-based trenching and channel sampling

➢ Detailed geological mapping and sampling

➢ Geochemical sampling

➢ Results to be integrated into the database to optimize drill targets

ahead of Phase 2 drilling

2020 Exploration Program

Phase 2 : Further Evaluation of Target Areas 1, 2 & 3 (summer/fall)

➢ ~50 line kilometres of IP/resistivity

➢ 4,000 to 4,500 metres of core drilling (18-20 holes)

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Target Area 1- Fancamp PropertyGeology and Main Targets – Historical Significant Drill Results

(1) The drill results shown above are historical in nature, having been reported by previous exploration companies. A

qualified person has not done sufficient work to verify or validate these analytical data, as the historic core is not

available for sampling as at the date of this release.

▪ 10.62 g/t Au over 2.04 m (B-A at 6.10 m)

▪ 20.55 g/t Au over 0.91 m (T-5 at 10.77 m)

▪ 12.33 g/t Au over 3.05 m (M-5 at 12.20 m)

▪ 8.22 g/t Au over 6.10 m (M-6 at 11.90 m)

▪ 5.14 g/t Au over 3.36 m (G-74-6 at 7.02 m)

▪ 4.79 g/t Au over 2.44 m (AM-81-9 at 26.84 m)

4.60 g/t Au over 3.05 m (MF-88-1 at 108.84 m)

1.42 g/t Au over 2.27 m (MF-88-2 at 161 m)

• 0.55 g/t Au over 2.35 m (MF-88-1 at 106.45 m)

• 8.82 g/t Au over 0.75 m (surface trench)

Muus East

Fancamp

Five drill-ready gold zones (A to E) defined → Zones remain open in most directions

→ Numerous targets never tested

“Geology” and “Regional Structures” adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

Target Area 1: Fancamp Zones-A and B

➢ Historical drilling mainly prior to the 1990’s (105 core holes), often using

very narrow diameter drill core and to limited vertical depths (<100m)

➢ Numerous high-grade intercepts averaging 4 g/t to 20 g/t gold over widths

ranging from less than 1m to more than 6m

➢ 2-6 subparallel veins, each <1 m to 6 m wide, separated by 15 to 30 m

➢ Many veins only intersected by a few drill holes – open in most directions

➢ Plunging shoots at both the A and B-Zones – open at depth

2020 Exploration Plan:

➢ Excavator-based trenching and channel sampling (on-going)

➢ Prospecting and sampling (on-going)

➢ Approximately 14 core holes (3,200 m) to test down-plunge and along strike

potential of A and B-Zones, as well as C, D and E-Zones (summer/fall,

pending drill permitting)

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Target Area 1: Fancamp Zones-A and B

Note: Veins projected to surface

Multiple subparallel

veins interpreted at

both the A and B

Zones

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Target Areas 2 and 3

NW-SE Segment of GDZ and Fancamp/Philibert Trends

Lac Bernard-South Drillhole LB-11 g/t Au over 1.6mFrom 139.3m to 140.9m

Drillhole VS-93-011.1 g/t Au over 0.6mFrom 57.8m to 58.4m

Drillhole SP-93-021.6 g/t Au over 1mFrom 23.5m to 24.5m

Drillhole LDV-282.3 g/t Au over 1.5mFrom 76m to 77.5m

Lac des Vents SouthHole LDV-94.0 g/t Au over 2.0mFrom 16.6m to 18.6m

Drillhole LC-201.2 g/t Au over 0.4m From 66.5 to 66.9m

Adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

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Exploration for Target Areas 2 and 3: Muus Property

Exploration Plan:

➢ Exploration will include regional prospecting and mapping, trenching,

geophysics over selected targets (IP/resistivity) with the aim to delineate

targets for diamond drilling later this fall.

➢ Approximately 2-3 drill holes (600 meters) are proposed for each of Target

Area 2 and 3, pending permitting.

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• Founder and Chairman of Red Cloud

Securities

• Former CEO of Victoria Gold Corp

• Former Head of Mining Investment

Banking at Blackmont Capital

Executive Chairman and Director

Chad Williams

• Former VP, Research at Red Cloud Securities

• Former Manager of Corporate Development at

Victoria Gold Corp from 2010 to 2015

• Over 10 years of experience exploration geologist

in the DRC, Canada and Indonesia

Corporate Development

Edmond Thorose

• More than 20 years of finance and capital

markets experience

• Previously CFO of Stornoway Diamond Corp.

and VP Investor Relations at CB Gold Inc.

• CFA Charterholder

Chief Financial Officer

Orin Baranowsky

Our Strong Management Team

• Former VP Corporate Development at Entrée

Resources and COO at Mason Resources

• More than 30 years experience in the mining and

exploration industry with a strong background in

project management and evaluation, exploration

program design and execution, and evaluation of

M&A opportunities

President, CEO and Director

Robert Cinits P.Geo (APEGBC)

Advisors

• Louis Gariepy: geological engineer with over 30 years experience; currently VP Exploration for O3 Mining; previously

Exploration Manager Anglo American in Peru, Exploration Manager for IAMGOLD in Peru and Minera Milpo in Peru.

1919

• President of Red Cloud Securities

• Former Director in the Mining Equity Research

Group for National Bank Financial

• Over the past 20 years has worked in mining

equity research at Wellington West, Scotia Capital

and TD Securities

Director

Paolo Lostritto

• Mining Executive and Geologist with over 30

years of experience

• At Toronto Stock Exchange from 1997 to 2005

culminating as National Leader of Mining

• Director of Aurania Resources Ltd., Almaden

Minerals Ltd and Alamos Gold Inc.

Director

Elaine Ellingham

• Entrepreneur with 20 years of experience in

management and business development in

technology

• Areas of expertise: strategic planning, business

development, providing strategic solutions,

creating business initiative and identifying

opportunities.

DirectorRick Paolone

Accomplished Board of Directors

Phil GirardDirector

• 30 year capital markets professional, specialized in

funding Junior & Mid-Cap growth public

companies.

• Extensive understanding of financial analysis,

accounting, and proper capital structure to mitigate

investment risk.

• Former Branch Manager (2000-2015), member of

the Executive Management Team, Board of

Director of Haywood Securities Inc.

• Co-Founder of Green Rise Capital Corp.(2017)

• Former VP Corporate Development at Entrée

Resources and COO at Mason Resources

• More than 30 years experience in the mining

and exploration industry with a strong

background in project management and

evaluation, exploration program design and

execution, and evaluation of M&A opportunities

President, CEO and Director

Robert Cinits P.Geo (APEGBC)

• Founder and Chairman of Red Cloud

Securities

• Former CEO of Victoria Gold Corp

• Former Head of Mining Investment

Banking at Blackmont Capital

Executive Chairman and Director

Chad Williams

CONTACT US

Blue Thunder Mining Inc.

401 Bay Street

Suite 2100, P.O. Box 55

Toronto, ON

M5H 2Y4

info@bluethundermining.com

1-647 848-1009

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Appendix / Supplemental Slides

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Adjacent Properties

Note: Property

boundaries of

adjacent

properties are

approximate

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MUUS AIR-MAG SURVEYS (Total Magnetic Intensity)

Muus

Joe Mann Mine Historical Production (3):

1.8Moz @ 8.5 g/t Au

Monster Lake Deposit (1): Inf: 1.1Mt @ 12 g/t = 433Koz Au

Philibert Deposit (3): 1.4Mt @ 5.3g/t = 200Koz Au

Meston Deposit (3): 1.2Mt @ 6.3g/t = 200Koz Au

Nisk

MuusEast

Fancamp

Nelligan Deposit (2): Iamgold/Vanstar JV

Inf: 97Mt @ 1.0 g/t = 3.2Moz Au

(1) Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp

(2) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources

(3) Historical Resource estimate - Not in compliance with NI 43-101 and should not be relied upon

January 2019 most of the Muus

property was flown; December

2019, the un-flown portions of

Muus were flown, along with Nisk

and Muus East; data merged

“Deposits and Showings” and “Regional Structures” adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

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MUUS HISTORICAL RC TILL SAMPLING / GEOLOGY

Muus Property

Clusters of till concentrate samples

ranging up to >23,000 ppb Au

Guercheville Deformation Zone

Adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

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SELECTED MUUS AND ADJACENT HISTORICAL SHOWINGS

Lac Bernard-South Drillhole LB-11 g/t Au over 1.6mFrom 139.3m to 140.9m Lac Bernard West

Drillhole F1: 0.6m @ 13.6 g/t Ag From 58.2m to 58.8m

Welb8 g/t Au over 1m Channel sample

Chesbar 2-BDrillhole 150.3% Cu over 5.5mFrom 282’ to 300’

Chesbar Deposit(1)

Historic Resource14Kt @ 1.9% Cu

Lac Rane1.2% Cu + 0.4 g/t Au Over 0.5m Channel Sample

PS-32.6 g/t Au grab sample

Riverside Hole 1-A29.5 g/t Au over 0.6mFrom 379 ft to 381 ft

Drillhole VS-93-011.1 g/t Au over 0.6mFrom 57.8m to 58.4mLac des Vents South

Hole LDV-94.0 g/t Au over 2.0mFrom 16.6m to 18.6m

Drillhole SP-93-021.6 g/t Au over 1mFrom 23.5m to 24.5m

Drillhole LC-201.2 g/t Au over 0.4m From 66.5 to 66.9m

Drillhole LDV-282.3 g/t Au over 1.5mFrom 76m to 77.5m

Lac Des Stables0.6% Cu and 1.7 g/t AgGrab Sample

Fancamp - See Page 18

Adapted and modified from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website

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Nelligan Maiden Resource Announced October 2019(75% IAMGOLD, 25% Vanstar)

Inferred Resource: 97Mt @ 1.0 g/t Au = 3.2Moz Au

(currently deposit is ~1 km along strike and open in most directions)

October 22, 2019 IAMGOLD Corporation News Release

Mineralization at Nelligan is Not Typical of the Abitibi

➢ Gold hosted in ductile-deformed sedimentary units within the Druillette syncline

and associated with the Guercheville Deformation Zone.

➢ Pervasive alteration and replacement, with disseminated mineralization (rather

than veins); this style of mineralization is not common locally.

DISTRICT ACTIVITYNEW DISCOVERY AT NELLIGAN → Game-Changing Discovery

Note that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative

of mineralization hosted on the Company's property26

Another Nelligan to be Found?

➢ The Nelligan host sedimentary units and structural fabrics strike WNW towards

the Muus Property; Muus and Nelligan have similar underlying geology and

setting.

➢ Regional and local structures and deformation zones are common to both

Muus and Nelligan.