Thesis Gold & Silver announces AngloGold Ashanti to increase its strategic investment through a C$58.5M offering. Aug 17, 2026, 07:00 ET VANCOUVER, BC, Aug. 17, 2026 /CNW/ - Thesis Gold & Silver Inc. ("Thesis", or the "Company") (TSXV: TAU) (OTCQX: THSGF) (WKN: A422AH) is pleased to announce that AngloGold Ashanti plc ("AngloGold Ashanti") will purchase securities of the Company through an offering of hard-dollar common shares and flow-though shares with aggregate gross proceeds of $58,462,111 (the "Offering"). Pursuant to the Offering, AngloGold Ashanti will increase its strategic investment in Thesis from approximately 5% to 9.7% of the issued and outstanding common shares of the Company (the "Common Shares"). The investment increase follows AngloGold Ashanti's initial 5% strategic investment in Thesis completed in February 2026 and further strengthens the relationship between the two companies as Thesis continues to advance its 100%-owned Lawyers-Ranch gold-silver Project in British Columbia's Toodoggone Mining District. Dr. Ewan Webster, President & CEO of Thesis, commented, "We are very pleased that AngloGold Ashanti has elected to significantly increase its investment in Thesis. We believe their decision to increase their position represents a strong endorsement of the quality and scale of Lawyers-Ranch and the progress our team continues to make advancing the Project. Having AngloGold Ashanti as a global gold producer as significant strategic shareholder, provides further validation of Lawyers-Ranch and positions Thesis exceptionally well as we advance through feasibility, permitting and continued exploration." The Offering will consist of: (i) 8,342,257 Common Shares at a price of C$3.4118 per Common Share for gross proceeds of C$28,462,112; (ii) 2,020,202 Common Shares issued as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")) (the "BC CEE Flow-Through Shares") at a price of C$4.95 per BC CEE Flow-Through Share for gross proceeds of C$10,000,000; and (iii) 4,282,655 Common Shares issued as "flow-through shares" within the meaning of subsection 66(15) of the Tax Act ("National CEE Flow-Through Shares" and together with the BC CEE Flow-Through Shares (the "Flow-Through Shares")) at a price of C$4.67 per National CEE Flow-Through Share for gross proceeds of C$19,999,999. The gross proceeds of the Offering from the issuance of Flow-Through Shares will be used by the Company to incur (or be deemed to incur) eligible "Canadian exploration expenses" (as defined in subsection 66.1(6) of the Tax Act) that qualify as "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act) (the "Qualifying Expenditures") related to Lawyers-Ranch. Qualifying Expenditures with respect to the BC CEE Flow-Through Shares will also qualify as "BC flow-through mining expenditures" as such term is defined in section 4.721(1) of the Income Tax Act (British Columbia). Qualifying Expenditures in an aggregate amount not less than the gross proceeds from the issue of the Flow-Through Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2027 and will be renounced by the Company in favor of the subscribers for the Flow-Through Shares effective on or before December 31, 2026. The gross proceeds of the Offering from the issuance of Common Shares will be used for working capital and general corporate purposes, including work related to the technical studies currently underway at Lawyers-Ranch. In connection with closing of the Offering, the Company and AngloGold Ashanti will enter into an amended and restated investor rights agreement, superseding the current investor rights agreement dated February 26, 2026, which will provide for, among other things, certain investor rights to AngloGold Ashanti that are customary for transactions of this nature upon satisfaction of certain conditions. All securities issued pursuant to the Offering are subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange ("TSXV") and applicable securities laws. The Offering is subject to final approval by the TSXV. The Company anticipates the Offering will close on or around August 27, 2026, subject to satisfying customary closing conditions. On behalf of the Board of Directors, Thesis Gold & Silver Inc., "Ewan Webster" Ewan Webster Ph.D., P. Geo. President, CEO, and Director About Thesis Gold & Silver Inc. Thesis is a Canadian precious metals development company focused on advancing its 100%-owned Lawyers-Ranch Gold-Silver Project in British Columbia's prolific Toodoggone Mining District, one of North America's most prospective emerging precious-metals districts. Lawyers-Ranch hosts a large, high-quality gold equivalent Mineral Resource with meaningful exposure to silver, which represents a significant component of the Project and long-term value proposition. Thesis is advancing Lawyers-Ranch through feasibility, permitting, and continued exploration, with the objective of unlocking long-term value for shareholders and stakeholders. 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 press release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Forward-looking information includes, without limitation, statements regarding closing of the Offering, approval of the TSXV, customary closing conditions respecting the Offering, the anticipated use of proceeds of the Offering the renunciation of Qualifying Expenditures and the anticipated closing date of the Offering. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information include that closing of the Offering may not occur when anticipated or at all, risk relating to obtaining approval of the TSXV, failure by the Company to renunciate Qualifying Expenditures on or before December 31, 2026 and the impact on the Flow-Through Shares, risks respecting the ability of Thesis to complete further exploration activities, including drilling, the ability of exploration activities to accurately predict mineralization, errors in management's geological and financial modeling, changes to the parameters of Lawyers-Ranch, including budget and schedule, uncertainties with respect to actual results of current exploration activities, delays in the advancement of Lawyers-Ranch, including with respect to drilling activities, equipment availability and/or issues, labour force shortages, fluctuations in metal and foreign exchange rates, limitation on insurance coverage, accidents, lack of available capital to the Company, failure to obtain necessary regulatory approvals within the anticipated timeline as the Lawyers-Ranch advances, labour disputes and other risks of the mining industry, the ability of the Company and stakeholders to realize the anticipated benefits of the Lawyers-Ranch, delays in obtaining governmental approvals or in the completion of development or construction activities, opposition by social and non-government organizations to mining projects, including First Nations communities, the Company's interest in and title to its properties, including the Lawyers-Ranch, resulting from unanticipated title disputes, claims or litigation, the ability of the Company to maintain all current and required permits, cyber-attacks and other cybersecurity risks and changes to tax regimes and other regulatory environments in the jurisdictions relevant to the Company, the ability of the Company to obtain additional financing on satisfactory terms or at all, the ability of management of the Company to operate and grow Thesis' business effectively, fluctuations in metal prices, the speculative nature of mineral exploration and development, and other risks described in the Company's filings, including in the risk factors in the Company's most recent management's discussion and analysis, which are available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. SOURCE Thesis Gold & Silver Inc. For further information or investor relations inquiries, please contact: Kettina Cordero, Vice President Investor Relations, Email: [email protected], Tel: +1 672-910-0026

AngloGold Ashanti's stake would rise from approximately 5% to 9.7%, funding Lawyers-Ranch work; closing is expected around Aug. 27, subject to TSXV approval.

AngloGold Ashanti Q2 earnings call highlights. July 31, 2026 Key points. * Strong second-quarter financial performance: AngloGold Ashanti's EBITDA rose 46% year over year to $2 billion, while headline earnings increased 58% to $1 billion and free cash flow climbed 36% to $727 million, driven largely by higher gold prices. * Operational and cost pressures remain: A fatality-related suspension at Obuasi affected production, although the mine has resumed at a normalized rate and full-year production guidance was reaffirmed. Total cash costs increased 21% to $1,480 per ounce due to inflation, fuel prices, royalties, currency effects and the Obuasi disruption. * Shareholder returns and growth plans: The company declared $364 million in second-quarter dividends and may supplement dividends with share buybacks under its approved $2 billion program, pending regulatory approval. AngloGold is prioritizing organic growth across existing mines and advancing the Arthur project in Nevada and a grid connection at Sukari. * Interested in AngloGold Ashanti? Here are five stocks we like better. AngloGold Ashanti NYSE: AU reported higher second-quarter earnings, cash flow and free cash flow as stronger gold prices more than offset inflation, fuel costs, currency effects and a temporary operational suspension at its Obuasi mine. Chief Executive Officer Alberto Calderon said the company generated $2 billion in EBITDA during the quarter, up 46% from a year earlier, while headline earnings rose 58% to $1 billion. Chief Financial Officer Gillian Doran said basic earnings per share increased to $1.97 from $1.32 in the prior-year quarter. Free cash flow rose 36% year over year to $727 million in the second quarter, supported by a 41% increase in net cash flow from operating activities to $1.4 billion. Doran attributed the improvement to cost discipline, a 35% increase in the average gold price received and improved cash receipts from Kibali. Obuasi suspension affects production. Calderon opened the call by addressing a fatality at the Obuasi mine on April 24. AngloGold suspended operations for two weeks while it conducted an investigation and implemented measures intended to prevent a recurrence. The suspension, along with the sale of Serra Grande, affected second-quarter production. However, Calderon said first-half production, excluding Serra Grande, was broadly stable year over year at about 1.5 million ounces. Tropicana and Cuiabá delivered what he described as strong performances. Obuasi is operating at a normalized run rate, and the company expects second-half production from the mine of 150,000 ounces. Calderon said the mine is currently operating without the KM Shaft and certain ore passes following the incident, but management expects to restore normal operations and complete a replacement ore pass during the fourth quarter. For the full portfolio, AngloGold reaffirmed its annual guidance and expects production to be weighted toward the second half, particularly the fourth quarter. Calderon said the company anticipates second-half production could rise about 6% from the first half if operations proceed as expected. Discover more Cryptocurrency News Production at Tropicana is expected to decline slightly as open-pit mining moves into the lower-grade Havana 6 pit. At Iduapriem, production has been affected by difficulty accessing temporarily flooded higher-grade areas. Costs rise amid external pressures. Total cash costs increased 21% year over year to $1,480 per ounce in the second quarter, compared with $1,226 per ounce a year earlier. Doran said inflation, higher gold-price-linked royalties and foreign-exchange effects added about $216 per ounce, or 18%, to the company's cost base. The Obuasi suspension added another $38 per ounce. The company said a 45% increase in Brent crude prices increased energy costs across the portfolio, while a weaker U.S. dollar and strengthening local currencies created additional pressure. Doran said AngloGold's internal realized inflation rate was just under 6%. Management said it is seeking to offset those pressures through its Full Asset Potential program and a total-cost-of-ownership supply-chain framework. Calderon said the company's controllable costs remained below inflation-adjusted levels, despite external cost increases and operational factors such as grade changes and mining farther from infrastructure. At Iduapriem, Calderon said higher royalties were the primary reason for the quarter-over-quarter cost increase. He added that a reduction in Ghana's COVID levy partly mitigates the royalty effect, although that benefit is reflected below the line in taxes rather than in reported operating costs. Cash position, dividends and buyback plans. AngloGold ended the quarter with net cash of $991 million, representing a $1.3 billion improvement from June of the previous year. Liquidity totaled $4.2 billion. Calderon noted that the company had reported net debt of $311 million 12 months earlier. The company declared $364 million in dividends for the second quarter, bringing first-half declared dividends to $949 million. AngloGold's dividend policy provides for quarterly payments and an annual true-up intended to bring total dividends to 50% of free cash flow. Management used discretion to make a true-up payment at the half year. Calderon said the company intends to return additional cash to shareholders if gold prices remain at current levels, potentially through share repurchases in addition to dividends. Shareholders have approved a $2 billion open-market share buyback program, though the company is awaiting approval from the South African Reserve Bank before proceeding. In April, AngloGold repurchased $666 million of its 2028 and 2030 notes, reducing its longer-term financing obligations. Cash tax payments reached a record $542 million in the second quarter. Doran and Calderon said the payments reflected improved profitability and timing across operating jurisdictions. Management expects cash taxes to decline to roughly $230 million to $250 million in each of the third and fourth quarters, which it said should support stronger cash conversion in the second half. Organic growth focus. Management said it sees its most compelling near-term growth opportunities within its existing portfolio, particularly at Obuasi, Geita, Sukari, Siguiri and Cuiabá. Calderon said the company expects to provide a more detailed project update in the third quarter. AngloGold has previously outlined potential production growth of 300,000 to 450,000 ounces from its existing operations over roughly three years. Calderon said the identified opportunities generally require relatively low capital intensity, involving additional mining, equipment, exploration, processing improvements and related infrastructure rather than large-scale expansions. The company is also advancing the Arthur project in Nevada toward a full feasibility study. Calderon said Nevada is expected to become a significant production center for AngloGold in the early 2030s. At Sukari, AngloGold said feasibility work on an 80-megawatt connection to Egypt's national grid is nearly complete, with commissioning targeted for early 2028, subject to grid upgrades. The operation currently has a 30-megawatt solar facility. Calderon said the company has no immediate urgency to sell its Tier 2 assets, citing their cash-flow generation at current gold prices. He said Serra Grande was sold because of its relatively small scale and management demands, while other assets remain valuable contributors to the portfolio. About AngloGold Ashanti (NYSE:AU). AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company's core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by-products depending on local geology and processing methods. The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider AngloGold Ashanti, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AngloGold Ashanti wasn't on the list. 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