Thunder Mountain Gold (THMG) 10-Q 15 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	8-May-14
Document and Entity Information	'	'
Entity Registrant Name	'Thunder Mountain Gold Inc	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0000711034	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Common Stock, Shares Outstanding	'	33,907,549

Thunder_Mountain_Gold_Inc_An_E

Thunder Mountain Gold, Inc. (An Exploration Stage Company) Consolidated Balance Sheets March 31, 2014 (unaudited) and December 31, 2013 (USD $)	Mar. 31, 2014		Dec. 31, 2013
Current assets:	'		'
Cash and cash equivalents	$77,032		$35,882
Prepaid expenses and other assets	8,596		12,717
Total current assets	85,628		48,599
Other assets:	'		'
Investment in Owyhee Gold Trust LLC	479,477		479,477
Total assets	565,105		528,076
Current liabilities:	'		'
Accounts payable and other accrued liabilities	76,193		70,688
Note payable Related Party	'	[1]	25,000	[1]
Total liabilities	76,193		95,688
Commitments	0	[2]	0	[2]
Stockholders' equity :	'		'
Preferred stock; $0.0001 par value, 5,000,000 shares authorized; no shares issued or outstanding	0		0
Common stock; $0.001 par value; 200,000,000 shares authorized, 33,907,549 and 31,467,549, respectively shares issued and outstanding	33,908		31,468
Additional paid-in capital	3,548,839		3,429,279
Less: 11,700 shares of treasury stock, at cost	-24,200		-24,200
Deficit accumulated prior to 1991	-212,793		-212,793
Accumulated deficit during the exploration stage	-2,856,842		-2,791,366
Total stockholders' equity	488,912		432,388
Total liabilities and stockholders' equity	$565,105		$528,076
[1]	Note 5
[2]	Note 3

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical (USD $)	Mar. 31, 2014	Dec. 31, 2013
Statement of financial position	'	'
Preferred Stock, Par Value	$0.00	$0.00
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	33,907,549	31,467,549
Common Stock, Shares Outstanding	33,907,549	31,467,549

Thunder_Mountain_Gold_Inc_An_E1

Thunder Mountain Gold, Inc. (An Exploration Stage Company) Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended				279 Months Ended
	Mar. 31, 2014		Mar. 31, 2013		Mar. 31, 2014
Revenue:	'		'		'
Royalties, net	'		'		$328,500
Owyhee Gold Trust LLC management fee income	'		45,104		113,353
Gain on sale of property and mining claims	'		'		2,576,112
Total revenue	'		45,104		3,017,965
Expenses:	'		'		'
Exploration expenses	4,820		31,154		2,207,221
Legal and accounting	41,241		29,353		1,261,803
Management and administrative	18,914		48,603		3,425,529
Directors' fees and professional services	'	[1]	'	[1]	1,012,093	[1]
Gain on sale of equipment	'		'		-17,815
Depreciation and depletion	'		109		145,658
Total expenses	64,975		109,219		8,034,489
Other income (expense):	'		'		'
Interest and dividend income	'		'		284,752
Interest expense	-500		'		-436,840
Gain (loss) change in fair value of warrant liabilities	'	[2]	-257,831	[2]	1,803,277	[2]
Loss on common stock and warrants	'		'		-271,587
Gain on change in fair value of conversion option liability	'		'		109,399
Financing expense	'		'		-17,945
Gain on forgiveness of Debt	'		'		1,000,000
Gain on sale of securities	'		'		166,116
Impairment of investments	'		'		-52,299
Total other income (expense)	-500		-257,831		2,584,872
Net income (loss) before income taxes	-65,475		-321,946		-2,431,651
(Provision) for income taxes	'		'		-151,496
Net income (loss)	-65,475		-321,946		-2,583,147
Treasury stock cancelled	'		'		-273,695
Comprehensive income (loss)	($65,475)		($321,946)		($2,856,842)
Net income (loss) per common share-basic and diluted	$0		($0.01)		($0.12)
Weighted average common shares outstanding-basic and diluted	31,333,231		30,167,549		23,652,924
[1]	Note 6
[2]	Note 2

Thunder_Mountain_Gold_Inc_An_E2

Thunder Mountain Gold, Inc. (An Exploration Stage Company) Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended		279 Months Ended
	Mar. 31, 2014		Mar. 31, 2014
Cash flows from operating activities:	'		'
Net income (loss)	($65,475)		($2,583,147)
Adjustments to reconcile net income (loss) to net cash used by operating activities:	'		'
Depreciation and depletion	'		145,658
Gain on sales of equipment	'		-17,815
Stock-based compensation	'		904,304
Adjustment for anti-dilution provisions	'		86,084
Conversion option liability eliminated	'		-5,575
Debt forgiveness	'		-1,000,000
Amortization of directors' fees prepaid with common stock	'		53,400
Amortization of deferred financing costs	'		231,015
Amortization of notes payable discounts	'		120,086
Compensation expense for stock issued	'		76,500
Gain on sale of mining claims and other assets	'		-2,736,553
Impairment loss on securities	'		52,335
Gain on change in fair value of warrant liability	'	[1]	-1,803,277	[1]
Loss on common stock and warrants	'		271,587
Gain on change in fair value of conversion option liability	'		-108,032
Financing expense	'		17,945
Change in:	'		'
Prepaid expenses and other assets	4,121		-8,596
Accounts payable and other liabilities	5,504		82,625
Receivables	'		124,955
Net cash used by operating activities	-55,850		-6,096,501
Cash flows from investing activities:	'		'
Proceeds from sale of property and mining claims	0		5,500,000
Purchase of investments	'		-354,530
Purchase of mining claims and leaseholds	'		-3,403,365
Purchase of equipment	'		-168,577
Proceeds from disposition of investments	'		642,645
Proceeds from sales of equipment	'		59,310
Net cash provided (used) by investing activities	'		2,275,483
Cash flows from financing activities:	'		'
Proceeds from sale of common stock and warrants, net	122,000		2,565,906
Proceeds from exercise of stock options and warrants	'		508,600
Acquisition of treasury stock	'		-376,755
Borrowing on related party note payable	'		611,500
Payments on related party note payable	-25,000		-597,000
Borrowing on notes payable	'		1,070,000
Payments on note payable	'		-50,000
Net cash provided by financing activities	97,000		3,732,251
Net increase (decrease) in cash and cash equivalents	41,150		-88,767
Cash and cash equivalents, beginning of period	35,882		165,799
Cash and cash equivalents, end of period	77,032		77,032
Supplemental Cash Flow Information	'		'
Cash paid for interest	2,000		29,046
Cash paid for income taxes	'		503,514
Non-cash investing and financing activities:	'		'
Stock issued to acquire equipment from related party	'		11,850
Stock issued for mining contract	'		50,000
Stock issued for payment of accounts payable	'		29,250
Stock issued for payments on related party and convertible note payable	'		24,500
Fair value of warrants issued in private placement classified as liabilities	'		1,795,587
Note proceeds allocated to conversion option at inception	'		123,031
Stock issued for deferred compensation	'		21,000
Beneficial conversion feature on convertible note payable	'		384,425
Mineral properties transferred to investment	'		479,477
Equipment exchanged for payment on related party note payable	'		$10,000
[1]	Note 2

1_Summary_of_Significant_Accou

1. Summary of Significant Accounting Policies and Business Operations	3 Months Ended
	Mar. 31, 2014
Notes	'
1. Summary of Significant Accounting Policies and Business Operations	'
	1.   Summary of Significant Accounting Policies and Business Operations
	Business Operations
	Thunder Mountain Gold, Inc. (“Thunder Mountain” or “the Company”) was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc.  In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company’s activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today.
	Basis of Presentation and Going Concern
	The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to the Form 10-Q.  Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of our management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month period ended March 31, 2014 is not necessarily indicative of the results that may be expected for the full year ending December 31, 2014. All amounts presented are in U.S. dollars. For further information refer to the financial statements and the footnotes thereto in our Annual Report on Form 10-K for the year ended December 31, 2013.
	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2014 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is currently investigating a number of alternatives for raising additional capital with potential investors, lessees and Owyhee Gold Trust LLC partners.
	The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis was not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.
	Exploration Stage Enterprise
	The Company’s financial statements are prepared using the accrual method of accounting and according to, “Accounting for Development Stage Enterprises,” as it devotes substantially all of its efforts to acquiring and exploring mining interests that will eventually provide sufficient net profits to sustain the Company’s existence. The Company began the exploration stage in 1991.  Until such interests are engaged in commercial production, the Company will continue to prepare its financial statements and related disclosures in accordance with entities in the exploration stage.
	Reclassifications
	Certain reclassifications have been made to conform prior year’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity or cash flows.
	Principles of Consolidation
	The Consolidated Financial Statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. and South Mountain Mines, Inc. after elimination of the intercompany accounts and transactions.
	Accounting Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral claims, environmental remediation liabilities, deferred tax assets, stock options granted and the fair value of financial and derivative instruments. Management’s estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.
	Cash and cash equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent.
	Fair Value Measures
	Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC prioritizes the inputs into three levels that may be used to measure fair value:
	·         Level 1: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
	·         Level 2: Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
	·         Level 3: Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
	Our financial instruments currently consist principally of cash and derivative warrant liabilities. The table below sets forth our assets and liabilities measured at fair value whether recurring or non-recurring and basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category.
		Balance		Balance	Input
		31-Mar-14		31-Dec-13	Hierarchy level
	Recurring:
	Cash and cash equivalents	$            77,032		$                35,882	Level 1
	Mining Properties and Claims
	The Company capitalizes costs for acquiring mineral properties, and expenses costs to maintain mineral rights and leases as incurred.  Exploration costs are expensed in the period in which they occur.  Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method on the basis of periodic estimates of ore reserves. Mineral properties are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, its capitalized costs are charged to operations.
	Investments in Joint Ventures
	In determining the Company’s accounting policy in the disclosure of joint ventures, the company decided as follows;
	1.)     The Company will use the cost method when it does not have joint control or significant influence in a joint venture. Under the cost method, these investments are carried at the lower of cost or fair value.
	2.)    If the Company enters into a joint venture, in which there is joint control between the parties, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount.
	3.)    In a joint venture, where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest.  In determining whether significant influences exist, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee.  If other than temporary impairment in value was determined, it would then be charged to current net income or loss.
	Reclamation and Remediation
	The Company’s operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company would record the fair value of an asset retirement obligation as a liability in the period in which the Company incurred a legal obligation for the retirement of tangible long-lived assets. A corresponding asset would also be recorded and depreciated over the life of the asset.
	After the initial measurement of the asset retirement obligation, the liability is adjusted at the end of each reporting period to reflect changes in the estimated future cash flows underlying the obligation.
	Determination of any amounts recognized upon adoption is based upon numerous estimates and assumptions, including future retirement costs, future inflation rates and the credit-adjusted risk-free interest rates.
	For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Such costs are based on management’s estimate of amounts expected to be incurred when the remediation work is performed.
	Share-Based Compensation
	Share-based payments to employees and directors, including grants of employee stock options are measured at fair value and expensed in the statement of operations over the vesting period.
	Net Income (Loss) Per Share
	The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS.  Basic EPS is computed as net income divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company’s common stock.
	As of March 31, 2014 and 2013, the remaining potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are:
		March 31,	March 31,
	For periods ended	2014	2013
	Stock options	2,990,000	2,000,000
	Warrants	1,885,000	7,991,271
	Total possible dilution	4,875,000	9,991,271

2_Stockholders_Equity

2. Stockholders' Equity	3 Months Ended
	Mar. 31, 2014
Notes	'
2. Stockholders' Equity	'
	2.         Stockholders’ Equity
	The Company’s common stock is at $0.001 par value with 200,000,000 shares authorized. The Company also has 5,000,000 authorized shares of preferred stock with a par value of $0.0001.
	On October 3, 2013, the Board of Directors approved a Private Placement financing of up to 5,000,000 units of the Company (“Unit”) at a price of $0.05 per Unit for gross proceeds of up to $250,000.  Each Unit consists of one share of the Company’s common stock and one-half of one common share purchase warrant.  Each whole warrant entitles the holder to purchase one additional share of common stock of the Company at a price of $0.15 for a period of 18 months.
	Pursuant to a Selling Agreement, the Selling Agent was entitled to compensation in the following form: (a) a cash commission equal to 10% of the price of the Units sold.  At March 31, 2014, $1,500 in commissions were paid based on the sale of 300,000 shares; (b) an additional cash commission of 10% of gross proceeds received from the exercise of Warrants issued as part of such Units or any other equity investment made by investors introduced by the Agent within a 24 month period following closing; and (c) non-transferable broker warrants to purchase a number of additional Units equal to 5% of Units sold by the Agent in the initial offering. The Agent Warrants will have the same exercise price and otherwise be on the same terms as the Warrants.  Through March 31, 2014, 15,000 agent warrants have been issued.
	Through March 31, 2014, the Company received $167,000 in gross proceeds from the Private Placement, issuing a total 3,340,000 in shares of common stock and 1,670,000 share equivalent warrants.
	On December 1, 2013, the Company converted a note payable to Rolf Hess in the amount of $20,000 for a total of 400,000 shares of common stock and 200,000 warrants, under same terms as private placement.
	The following is a summary of warrants as of March 31, 2014.
	Outstanding Warrants:	Share Equivalent Warrants	Exercise Price	Expiration Date
	Warrants outstanding December 31, 2013	665,000	0.15	30-Jun-15
	Warrants issued	1,220,000	0.15	30-Sep-15
	Total warrants outstanding at March 31, 2014	1,885,000	$  0.15

3_Commitments

3. Commitments	3 Months Ended
	Mar. 31, 2014
Notes	'
3. Commitments	'
	3.         Commitments
	On March 21, 2011, the Company signed an exploration agreement with Newmont Mining Corporation on the Trout Creek Project that significantly expands the Trout Creek target area. Newmont’s private mineral package added to the Project surrounds the Company’s South Mountain claim group and consists of about 9,565 acres within a thirty-square mile Area of Influence defined in the agreement.  Under the terms of the agreement, the Company is responsible for conducting the exploration program and is obligated to expend a minimum of $150,000 over the ensuing two years, with additional expenditures possible in future years.  Newmont agreed to extend the date for completion of the work commitment to June 22, 2013. The Company met this requirement, and had total expenditures of $160,314 on this project through March 31, 2014.
	Additionally, the Company is required to spend $300,000, including $150,000 in drilling expenditures, on the project in third year, or by March 22, 2014. This date has been extended to October 31, 2014 by Newmont. All subsequent dates for work commitments were extended to October 31 as well.

4_South_Mountain_Project_LLC

4. South Mountain Project LLC	3 Months Ended
	Mar. 31, 2014
Notes	'
4. South Mountain Project LLC	'
	4.           South Mountain Project LLC
	On November 8, 2012, the Company and Idaho State Gold Company, LLC (“ISGC”) formed the Owyhee Gold Trust, LLC, (“OGT”) a limited liability company.  The Company’s contribution for its membership units was its South Mountain Mine property and related mining claims located in southwestern Idaho in Owyhee County which was valued at $479,477 and the date of contribution. As its initial contribution to OGT, ISGC will fund operations totaling $18 million; or $8 million if the Company exercises its option to participate pro-rata after ISGC expends $8 million.  ISGC is also the manager of the joint venture. Upon payment of $1 million, and a work commitment of $2 million in pre-determined qualifying expenditures not later than December 31, 2014, ISGC will receive 2,000 units representing a vested 25% ownership. As of March 31, 2014, the Company has not issued any ownership units.  The Company accounts for its investment in the OGT by the cost method.

5_Convertible_Note_Payable

5. Convertible Note Payable	3 Months Ended
	Mar. 31, 2014
Notes	'
5. Convertible Note Payable	'
	5.           Notes Payable
	On June 6, 2013, the Company received funds of $20,000 from Jim Collord, a director.  In accordance with the terms of the note, the Company pays Mr. Collord 1% per month for interest. See Note 7.
	On July 31, 2013 the Company received $20,000 from Rolf Hess, a stockholder, under a convertible promissory note.  Terms of the note call for interest at 1% per month, with the entire balance of principal and interest due in full on December 1, 2013.  The convertible promissory note contains the option for the holder to convert any portion of the principle and interest into Company common stock at 75% of the average closing bid price of the stock for the twenty trading days ending the day prior to the conversion.  At inception, management determined the conversion price would have been $0.054.  On that date, the market price for the Company’s common stock exceeded the conversion price as calculated.
	The convertible note contained a beneficial conversion feature of $9,425 which was recognized as a discount on the note on the date of issuance. The discount was amortized over the note term using the straight-line method, which approximates the effective interest method. For the year ended December 31, 2013, the Company recorded $9,425 in interest expense related to the amortization of the discount. This note was converted to common stock and warrants in the private placement on December 1, 2013 (See Note 2).

6_Stock_Options

6. Stock Options	3 Months Ended
	Mar. 31, 2014
Notes	'
6. Stock Options	'
	6.           Stock Options
	The Company has established a Stock Option Incentive Plan to authorize the granting of stock options up to 10 percent of the total number of issued and outstanding shares of common stock to employees, directors and consultants. Upon exercise of options, shares are issued from the available authorized shares of the Company.  Option awards are generally granted with an exercise price equal to the fair market value of the Company’s stock at the date of grant.
	During 2013, the Company granted 990,000 non-qualified stock options to certain officers, directors and outside consultants with an exercise price of $0.09.  Shareholder approval for the award was granted on April 30, 2013.  The options immediately vested.  Management valued the options as of the date of grant using a Black-Scholes option pricing model resulting in $89,038 expense being recorded. The average remaining contractual term of the options outstanding and exercisable at March 31, 2014 was 2.75 years. There were no options vested or granted during the three months ended March 31, 2014.

7_Related_Party_Transactions

7. Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Notes	'
7. Related Party Transactions	'
	7.         Related Party Transactions
	In July 2013, a Company vehicle with no book value was transferred to Mr. Collord in satisfaction of $10,000 of the principal, which resulted in a $10,000 gain on the disposal of the asset. During August 2013, Mr. Collord advanced an additional $15,000 to the Company, under a new note was entered into and the total amount of $25,000 is due on February 28, 2014.  The note was paid in full on February 4, 2014.  By March 31, 2014 the Company had fulfilled its obligation on the note paying Mr. Collord $2,000 in interest, $500 of which was earned during the three months ended March 31, 2014.

8_Subsequent_Events

8. Subsequent Events	3 Months Ended
	Mar. 31, 2014
Notes	'
8. Subsequent Events	'
	8.         Subsequent Events
	None.

1_Summary_of_Significant_Accou1

1. Summary of Significant Accounting Policies and Business Operations: Exploration Stage Enterprise (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Exploration Stage Enterprise	'
	Exploration Stage Enterprise
	The Company’s financial statements are prepared using the accrual method of accounting and according to, “Accounting for Development Stage Enterprises,” as it devotes substantially all of its efforts to acquiring and exploring mining interests that will eventually provide sufficient net profits to sustain the Company’s existence. The Company began the exploration stage in 1991.  Until such interests are engaged in commercial production, the Company will continue to prepare its financial statements and related disclosures in accordance with entities in the exploration stage.

1_Summary_of_Significant_Accou2

1. Summary of Significant Accounting Policies and Business Operations: Reclassifications (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Reclassifications	'
	Reclassifications
	Certain reclassifications have been made to conform prior year’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity or cash flows.

1_Summary_of_Significant_Accou3

1. Summary of Significant Accounting Policies and Business Operations: Principles of Consolidation (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Principles of Consolidation	'
	Principles of Consolidation
	The Consolidated Financial Statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. and South Mountain Mines, Inc. after elimination of the intercompany accounts and transactions.

1_Summary_of_Significant_Accou4

1. Summary of Significant Accounting Policies and Business Operations: Accounting Estimates (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Accounting Estimates	'
	Accounting Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral claims, environmental remediation liabilities, deferred tax assets, stock options granted and the fair value of financial and derivative instruments. Management’s estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.

1_Summary_of_Significant_Accou5

1. Summary of Significant Accounting Policies and Business Operations: Cash and Cash Equivalents (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Cash and Cash Equivalents	'
	Cash and cash equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent.

1_Summary_of_Significant_Accou6

1. Summary of Significant Accounting Policies and Business Operations: Fair Value Measures (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Fair Value Measures	'
	Fair Value Measures
	Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC prioritizes the inputs into three levels that may be used to measure fair value:
	·         Level 1: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
	·         Level 2: Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
	·         Level 3: Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
	Our financial instruments currently consist principally of cash and derivative warrant liabilities. The table below sets forth our assets and liabilities measured at fair value whether recurring or non-recurring and basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category.
		Balance	Balance	Input
		31-Mar-14	31-Dec-13	Hierarchy level
	Recurring:
	Cash and cash equivalents	$            77,032	$                35,882	Level 1

1_Summary_of_Significant_Accou7

1. Summary of Significant Accounting Policies and Business Operations: Capitalization of Internal Costs, Policy (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Capitalization of Internal Costs, Policy	'
	Mining Properties and Claims
	The Company capitalizes costs for acquiring mineral properties, and expenses costs to maintain mineral rights and leases as incurred.  Exploration costs are expensed in the period in which they occur.  Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method on the basis of periodic estimates of ore reserves. Mineral properties are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, its capitalized costs are charged to operations.

1_Summary_of_Significant_Accou8

1. Summary of Significant Accounting Policies and Business Operations: Investments in Joint Venture (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Investments in Joint Venture	'
	Investments in Joint Ventures
	In determining the Company’s accounting policy in the disclosure of joint ventures, the company decided as follows;
	1.)     The Company will use the cost method when it does not have joint control or significant influence in a joint venture. Under the cost method, these investments are carried at the lower of cost or fair value.
	2.)    If the Company enters into a joint venture, in which there is joint control between the parties, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount.
	3.)    In a joint venture, where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest.  In determining whether significant influences exist, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee.  If other than temporary impairment in value was determined, it would then be charged to current net income or loss.

1_Summary_of_Significant_Accou9

1. Summary of Significant Accounting Policies and Business Operations: Reclamation and Remediation (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Reclamation and Remediation	'
	Reclamation and Remediation
	The Company’s operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company would record the fair value of an asset retirement obligation as a liability in the period in which the Company incurred a legal obligation for the retirement of tangible long-lived assets. A corresponding asset would also be recorded and depreciated over the life of the asset.
	After the initial measurement of the asset retirement obligation, the liability is adjusted at the end of each reporting period to reflect changes in the estimated future cash flows underlying the obligation.
	Determination of any amounts recognized upon adoption is based upon numerous estimates and assumptions, including future retirement costs, future inflation rates and the credit-adjusted risk-free interest rates.
	For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Such costs are based on management’s estimate of amounts expected to be incurred when the remediation work is performed.

Recovered_Sheet1

1. Summary of Significant Accounting Policies and Business Operations: Share-based Compensation (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Share-based Compensation	'
	Share-Based Compensation
	Share-based payments to employees and directors, including grants of employee stock options are measured at fair value and expensed in the statement of operations over the vesting period.

Recovered_Sheet2

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Net Income (loss) Per Share	'
	Net Income (Loss) Per Share
	The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS.  Basic EPS is computed as net income divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company’s common stock.
	As of March 31, 2014 and 2013, the remaining potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are:
		March 31,	March 31,
	For periods ended	2014	2013
	Stock options	2,990,000	2,000,000
	Warrants	1,885,000	7,991,271
	Total possible dilution	4,875,000	9,991,271

Recovered_Sheet3

1. Summary of Significant Accounting Policies and Business Operations: Fair Value Measures: Fair Value, Assets Measured on Recurring and Nonrecurring Basis (Tables)	3 Months Ended
	Mar. 31, 2014
Tables/Schedules	'
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	'
		Balance	Balance	Input
		31-Mar-14	31-Dec-13	Hierarchy level
	Recurring:
	Cash and cash equivalents	$            77,032	$                35,882	Level 1

Recovered_Sheet4

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Tables/Schedules	'
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
		March 31,	March 31,
	For periods ended	2014	2013
	Stock options	2,990,000	2,000,000
	Warrants	1,885,000	7,991,271
	Total possible dilution	4,875,000	9,991,271

2_Stockholders_Equity_Summary_

2. Stockholders' Equity: Summary of Warrants (Tables)	3 Months Ended
	Mar. 31, 2014
Tables/Schedules	'
Summary of Warrants	'
	Outstanding Warrants:	Share Equivalent Warrants	Exercise Price	Expiration Date
	Warrants outstanding December 31, 2013	665,000	0.15	30-Jun-15
	Warrants issued	1,220,000	0.15	30-Sep-15
	Total warrants outstanding at March 31, 2014	1,885,000	$  0.15

Recovered_Sheet5

1. Summary of Significant Accounting Policies and Business Operations (Details)	3 Months Ended
	Mar. 31, 2014
Details	'
Nature of Operations	'Business Operations Thunder Mountain Gold, Inc. (“Thunder Mountain” or “the Company”) was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc. In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company’s activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today.
Basis of Accounting	'The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to the Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of our management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month period ended March 31, 2014 is not necessarily indicative of the results that may be expected for the full year ending December 31, 2014. All amounts presented are in U.S. dollars. For further information refer to the financial statements and the footnotes thereto in our Annual Report on Form 10-K for the year ended December 31, 2013.
Going Concern Note	'The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2014 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is currently investigating a number of alternatives for raising additional capital with potential investors, lessees and Owyhee Gold Trust LLC partners.

Recovered_Sheet6

1. Summary of Significant Accounting Policies and Business Operations: Fair Value Measures: Fair Value, Assets Measured on Recurring and Nonrecurring Basis (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Details	'	'
Cash	$77,032	$35,882

Recovered_Sheet7

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Details	'	'
Stock options	2,990,000	2,000,000
Warrants	1,885,000	7,991,271
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,875,000	9,991,271

2_Stockholders_Equity_Details

2. Stockholders' Equity (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Details	'
Private Placement	'On October 3, 2013, the Board of Directors approved a Private Placement financing of up to 5,000,000 units of the Company (“Unit”) at a price of $0.05 per Unit for gross proceeds of up to $250,000. Each Unit consists of one share of the Company’s common stock and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share of common stock of the Company at a price of $0.15 for a period of 18 months.
Private placement agent fees	$1,500
Agent warrants issued	15,000
Gross proceeds private placement	$167,000
Private placement agent fees	3,340,000
Private placement agent fees	1,670,000
Stock issued for convertible note	400,000
Warrants issued for convertible note	200,000

2_Stockholders_Equity_Summary_1

2. Stockholders' Equity: Summary of Warrants (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Details	'
Class of Warrant or Right, Outstanding	1,885,000
Investment Warrants, Exercise Price	$0.15

3_Commitments_Details

3. Commitments (Details)	3 Months Ended
	Mar. 31, 2014
Details	'
Exploration agreement description	'On March 21, 2011, the Company signed an exploration agreement with Newmont Mining Corporation on the Trout Creek Project that significantly expands the Trout Creek target area. Newmont’s private mineral package added to the Project surrounds the Company’s South Mountain claim group and consists of about 9,565 acres within a thirty-square mile Area of Influence defined in the agreement. Under the terms of the agreement, the Company is responsible for conducting the exploration program and is obligated to expend a minimum of $150,000 over the ensuing two years, with additional expenditures possible in future years.

5_Convertible_Note_Payable_Det

5. Convertible Note Payable (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Jun. 30, 2013
Details	'	'
Debt Instrument, Description	'On June 6, 2013, the Company received funds of $20,000 from Jim Collord, a director. In accordance with the terms of the note, the Company pays Mr. Collord 1% per month for interest. See Note 7.	'
Debt Instrument, Face Amount	'	$20,000

6_Stock_Options_Details

6. Stock Options (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Details	'	'
Non-qualified stock options granted	'	990,000
Non-qualified stock options exercise price	'	$0.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	'	$89,038
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	'2 years 9 months	'

7_Related_Party_Transactions_D

7. Related Party Transactions (Details) (USD $)	3 Months Ended	279 Months Ended
	Mar. 31, 2014	Mar. 31, 2014
Details	'	'
Related Party Transaction, Description of Transaction	'In July 2013, a Company vehicle with no book value was transferred to Mr. Collord in satisfaction of $10,000 of the principal, which resulted in a $10,000 gain on the disposal of the asset. During August 2013, Mr. Collord advanced an additional $15,000 to the Company, under a new note was entered into and the total amount of $25,000 is due on February 28, 2014. The note was paid in full on February 4, 2014. By March 31, 2014 the Company had fulfilled its obligation on the note paying Mr. Collord $2,000 in interest, $500 of which was earned during the three months ended March 31, 2014.	'
Cash paid for interest	$2,000	$29,046