Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

July 16, 2009 08:00 ET

Thundermin and Cornerstone Extend Option on the Little Deer Copper Deposit, Springdale Area, Newfoundland

TORONTO, ONTARIO--(Marketwire - July 16, 2009) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have extended the option with Weyburn Investments Limited ("Weyburn") to earn a 100% interest in the Little Deer Copper Deposit (the "Deposit") which is located approximately 10 km north of Springdale in north-central Newfoundland.

Under the terms of the agreement with Weyburn, in order to extend the option beyond the second anniversary of the agreement, Thundermin and Cornerstone agreed to pay to Weyburn a total of $115,000 ($57,500 each in cash and/or shares at each company's election) on or before July 12, 2009. Thundermin elected to issue 342,262 shares, at a price of $0.168 per share, and Cornerstone elected to pay $57,500 in cash. By electing to make the $115,000 payment to Weyburn, Thundermin and Cornerstone are now committed to make a further $200,000 total payment ($100,000 each in cash and/or shares at each company's election) to Weyburn on or before July 12, 2010, which will keep the option on the Deposit in good standing until July 12, 2011. Further details on the terms of the agreement with Weyburn can be found in a news release dated May 1, 2007 and on Thundermin's and Cornerstone's respective websites and on SEDAR.

Diamond drilling programs undertaken since July 2007 have greatly expanded the known copper resources within the Deposit. To date, the Deposit has been intersected over a strike length of approximately 1,050 m and to a vertical depth of 895 m. The Deposit remains open to the east, west and at depth and the potential for discovery of additional copper resources is believed to be high. Further details on the Deposit and the exploration results to date can be found in news releases dated June 21, July 9, October 30, December 11, 2007 and January 24, April 9, May 15, June 17, July 25, November 26, 2008 and February 25, May 12 and June 16, 2009.

On July 7, 2009, Thundermin and Cornerstone reported a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the Deposit comprising Indicated Resources of 1,087,000 tonnes at an average grade of 2.9% Cu and Inferred Resources of 1,950,000 tonnes at an average grade of 2.3% Cu. The mineral resource estimate was prepared by Mr. Reno Pressacco, M.Sc.(A), P.Geo., Senior Geologist for Micon International Limited ("Micon") of Toronto, Ontario, an independent Qualified Person ("Q.P.") in accordance with NI 43-101. A NI 43-101 Technical Report for the mineral resource estimate is currently being prepared by Micon and it will be filed on SEDAR on or before August 21, 2009 (see news release dated July 7, 2009 for more details on the mineral resource estimate).

Diamond drilling, designed to expand the reported initial mineral resource estimate on the Deposit, is on-going as part of a $900,000 exploration program for the first half of 2009. Results from all unreported holes will be released once assays are received and results compiled. Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the Q.P. responsible for supervising the drilling program on the Deposit for the purposes of NI 43-101.

Thundermin and Cornerstone would like to acknowledge the financial support received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in carrying out a portion of their work on the Little Deer property.

Forward-Looking Statements

This news release may contain "Forward-Looking Statements" that involve risks and uncertainties, such as statements of Thundermin's plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify "Forward-Looking Statements". Although Thundermin believes that its expectations reflected in these "Forward-Looking Statements" are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings that can be viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our "Forward-Looking Statements". Although Thundermin believes the facts and information contained in this news release to be as correct and current as possible, Thundermin does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views subsequent to the date of this news release.

For further information on Thundermin Resources Inc. please visit the SEDAR website at www.sedar.com.

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