Thunderstruck Resources Announces Strategic Investment by Australian Mining Entrepreneur

Vancouver, British Columbia–(Newsfile Corp. – February 14, 2022) – Thunderstruck Resources Ltd. (TSXV:AWE) (“Stunned“or the”Society“) is pleased to announce that Australian businessman Ian Gandel has made a strategic investment in Thunderstruck Resources and seeks to play a vital role in the company as it continues to advance its Fijian precious metals assets. and basis for delivering shareholder value.

“We are honored to have attracted a serially successful investor such as Mr. Gandel. His investment confirms the view that Thunderstuck and Fiji are on the radar of certain major players. The strategic relationship, through which Mr. Gandel will achieve a 25% stake in the lifting of the Company, is one that should benefit all shareholders in the future.” Thunderstruck President and CEO Bryce Bradley commented. “Adding a proven enterprise builder at this stage of the enterprise lifecycle is invaluable. We look forward to Ian’s active involvement as we continue to effectively grow Thunderstruck through drilling, strategic partnerships and the addition of accretive Fijian land packages.”

Mr. Gandel is a successful Melbourne-based businessman with over 20 years experience in the exploration and mining sectors. Currently, Mr. Gandel is the Independent Non-Executive Chairman of Alliance Resources Ltd (gold and iron ore), Alkane Resources Ltd (gold and copper) and Australia Strategic Materials Ltd (rare earths and critical metals) and has contributed to their growth in market capitalization. of AU$31 million, AU$485 million and AU$1.2 billion respectively.

Outside of the resource sector, Mr. Gandel has also been involved in the construction and property development of some of Australia’s largest shopping centers and, previously, the construction of the famous Australian retail drugstore chain Priceline.

Ian Gandel, Chairman of Gandel Metals Pty Ltd, said: “I am delighted to be involved with Thunderstruck, which I consider to be a very promising company. Fiji has abundant mining potential and is only a four hour flight from Sydney. Successful exploration could result in a large increase in shareholder value relative to the current low market capitalization, and most importantly, would increase the value of Fijian stakeholders. We place the utmost importance on local community involvement and ESG values. My team in Australia looks forward to helping Thunderstruck’s capable geologists unlock the potential of its projects in Fiji.”

The Company is also pleased to announce that in addition to his investment, Mr. Gandel will join the Thunderstruck Advisory Board, alongside his highly experienced colleague, Anthony (Tony) Lethlean.

“We welcome Tony Lethlean to the Thunderstruck family. Tony and Ian have worked extensively on projects together, and Tony’s corporate and geological expertise has proven invaluable to the success of their projects. We are also looking forward to utilizing his technical skills, as I’m sure our land package has more hidden gems than we currently see.” Bradley continued.

Mr. Lethlean is a seasoned geologist (BAppSc) having worked on the Golden Mile Kalgoorlie and many other global mining and development projects. He holds non-executive directorships at both Alkane Resources Ltd and Alliance Resources Ltd. Previously, Mr. Lethean was a senior mining analyst with Australia-based investment banks, including CIBC World Markets. He is currently a director of Corporate Advisor Rawson Lewis.

Investment Conditions / Financing

Ian Gandel (together with his associates, “Gandel”) will directly and indirectly enter into a subscription agreement (the “Subscription Agreement”) for a number of units (the “Units”) of the Company representing approximately 25% of the issued and outstanding common shares of the Company following the completion of the placement and the concurrent private placement (the “Gandel Placement”).

Including the Gandel Investment, the Company arranged a non-brokered private placement for the sale of up to 35,714,285 million units at a price of $0.07 per unit for aggregate gross proceeds of up to $2,500 000 $ CAD. Each unit will consist of one common share and one stock purchase warrant. Each whole warrant entitles its holder to purchase another common share at a price of $0.15 per share for a period of 5 years. The Warrants are subject to accelerated exercise provisions such that if the closing price of the Company’s common stock exceeds $0.30 per share for a period of 20 consecutive trading days, the Company may give notice acceleration of the term of the warrants to a period of 30 days following this notification.

Proceeds from the placement will be applied to our 2022 exploration and drilling programs on the Company’s prospects and general working capital.

The Offer remains subject to the approval of the TSX Venture Exchange, which, in respect of the Investment in Gandel, will include the requirement of approval of 51% of the shareholders of the Company for the creation of a control block of the Company which will be held by Gandel. The Company currently anticipates that it will seek such approval by written consent.

As part of Gandel’s strategic investment, the Company and Gandel will enter into an investor rights agreement pursuant to which, subject to certain conditions, including term and ownership thresholds, Gandel will have certain rights, including the right to appoint a director of the Company.

In addition, Gandel will have the right to participate in future equity issues to maintain its percentage ownership in the Company for up to 15 years. In addition, for a period of two years (which the Company may modify at its sole discretion), Gandel also agrees not to (a) launch a tender offer; (b) acquire shares of the Company, or direct or indirect rights to acquire shares of the Company; (c) make or otherwise participate in any solicitation of proxies to vote shares of the Company; (d) make a public announcement regarding, or submit a proposal or offer (with or without conditions) to any business combination, merger or merger or similar transaction involving the Company.

At the closing of the Offering, a copy of the Investor Rights Agreement will be available under the Company’s SEDAR profile at

Grant of stock options

The Company’s Board of Directors has granted a total of 600,000 stock options pursuant to its stock option plan to various insiders, advisers and consultants, each option being exercisable in one common stock at a price of 0.115 cents per share for a period of 10 years.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has collected large and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metal mineralization. The Company offers investors exposure to a diversified portfolio of exploration-stage projects with potential for zinc, copper, gold and silver in a politically secure and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE” and in the United States OTC under the symbol “THURF”.

For more information, please contact:
Rob Christl, Vice President of Business Development and Investor Relations
E-mail: This email address is protected from spam. You need JavaScript enabled to view it.
Phone: 1-778 840-7180
or visit our website:

Neither TSX Venture Exchange Inc. 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.

This press release contains certain statements that may be considered “forward-looking statements”. Although Thunderstruck believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Thunderstruck management as of the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.