Thunder Mountain Gold (THMG) 10-Q 18 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 12, 2015
Document and Entity Information
Entity Registrant Name	Thunder Mountain Gold Inc
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	711,034
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	2,015
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding		44,167,549
Entity Incorporation, Date of Incorporation	Nov. 9, 1935
Trading Symbol	thmg

Thunder Mountain Gold, Inc. Con

Thunder Mountain Gold, Inc. Consolidated Balance Sheets (Interim period unaudited) - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 7,668	$ 31,992
Prepaid expenses and other assets		26,783	15,926
Total current assets		34,451	47,918
Other assets:
Investment in Owyhee Gold Trust LLC		479,477	479,477
Total assets		513,928	527,395
Current liabilities:
Accounts payable and other accrued liabilities		156,058	$ 73,854
Accrued related party liability	[1]	96,038
Accrued interest payable to related parties		15,000	$ 3,921
Deferred payroll	[1]	196,000
Related party convertible notes payable	[2]	83,616	$ 38,435
Total Liabilities		546,712	116,210
Commitments and Contingencies	[3]	0	0
Stockholders' equity :
Preferred stock; $0.0001 par value, 5,000,000shares authorized; no shares issued or outstanding		0	0
Common stock; $0.001 par value; 200,000,000 shares authorized, 44,167,549 and 40,167,549, respectively shares issued and outstanding		44,168	40,168
Additional paid-in capital		4,193,797	3,869,071
Less: 11,700 shares of treasury stock, at cost		(24,200)	(24,200)
Stock subscription receivable			(50,000)
Accumulated deficit		(4,246,549)	(3,423,854)
Total stockholders' equity (deficit)		(32,784)	411,185
Total liabilities and stockholders' equity (deficit)		$ 513,928	$ 527,395
[1]	Note 3
[2]	Note 4
[3]	Note 2

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of financial position
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
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	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	44,167,549	40,167,549
Common Stock, Shares Outstanding	44,167,549	40,167,549

Thunder Mountain Gold, Inc. Co4

Thunder Mountain Gold, Inc. Consolidated Statements of Operations (unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Expenses:
Exploration expenses		$ 46,901	$ 18,252	$ 119,936	$ 28,270
Legal and accounting		176,201	51,122	272,845	141,922
Management and administrative		82,946	31,615	304,851	69,222
Total expenses		306,048	100,989	697,632	239,414
Other income (expense):
Interest expense, related party		(15,000)	$ (94)	(56,337)	$ (807)
Loss on modification of debt	[1]	(68,726)		(68,726)
Total other income (expense)		(83,726)	$ (94)	(125,063)	$ (807)
Net Loss		$ (389,774)	$ (101,083)	$ (822,695)	$ (240,221)
Net Loss per common share-basic and diluted		$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Weighted average common shares outstanding-basic and diluted		44,167,549	36,032,549	43,259,124	34,251,505
[1]	Note 4

Thunder Mountain Gold, Inc. Co5

Thunder Mountain Gold, Inc. Consolidated Statements of Cash Flows (unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss		$ (389,774)	$ (101,083)	$ (822,695)	$ (240,221)
Adjustments to reconcile net loss to net cash used by operating activities:
Loss on modification of debt	[1]	68,726		68,726
Options issued for services				60,000
Amortization of related party notes payable discounts				11,565
Change in:
Prepaid expenses and other assets				(10,857)	$ 49
Accounts payable and other liabilities				82,204	10,659
Accrued related party liability				96,038
Accrued interest related parties				44,695	3,921
Deferred payroll				196,000
Net cash used by operating activities				(274,324)	(229,513)
Cash flows from financing activities:
Proceeds from sale of common stock and warrants, net				250,000	317,000
Payments on related party note payable					(25,000)
Net cash provided by financing activities				250,000	292,000
Net increase (decrease) in cash and cash equivalents				(24,324)	62,487
Cash and cash equivalents, beginning of period				31,992	35,882
Cash and cash equivalents, end of period		$ 7,668	$ 98,369	7,668	$ 98,369
Noncash financing activities:
Accrued interest payable converted to related party notes payable				$ 33,616
[1]	Note 4

1. Summary of Significant Accou

1. Summary of Significant Accounting Policies and Business Operations	9 Months Ended
	Sep. 30, 2015
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 nine month period ended September 30, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015. 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, 2014. 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 September 30, 2015 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 joint venture 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. 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. Investments in Joint Venture The Company’s accounting policy for joint ventures is as follows: 1. The Company uses 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 cost. If other than temporary impairment in value is determined, it would then be charged to current net income or loss. 2. If the Company enters into a joint venture in which there is joint control between the parties or the Company has significant influence, 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. If other than temporary impairment in value is determined, it would then be charged to current net income or loss. 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 and non-controlling interest is presented separately. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the ventures management committee. 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 September 30, 2015 and 2014, the potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are: For the period ended September 30, 2015 2014 Stock options 3,990,000 2,990,000 Warrants 5,015,000 3,835,000 Total possible dilution 9,005,000 6,825,000

2. Commitments

2. Commitments	9 Months Ended
	Sep. 30, 2015
Notes
2. Commitments	2. Commitments On March 21, 2011, the Company signed an exploration agreement with Newmont Mining Corporation (“Newmont”) 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. In late 2014, Newmont agreed to extend the date for completion of the work commitment, and is redrafting the agreement to allow the Company additional time to conduct the exploration (see Note 7).

3. South Mountain Project

3. South Mountain Project	9 Months Ended
	Sep. 30, 2015
Notes
3. South Mountain Project	3. South Mountain Project On November 8, 2012, the Company, through its wholly owned subsidiary South Mountain Mines, Inc., (“SMMI”), and Idaho State Gold Company II, LLC (“ISGC”) formed the Owyhee Gold Trust, LLC, (“OGT”) a limited liability company. On January 27, 2015, SMMI was voted as Manager of the OGT by unanimous vote of Management Committee meeting, under the terms of the November 8, 2012 operating agreement. Beginning on that date, SMMI began paying OGT’s expenses to ensure ongoing operations at the site. Accordingly, there is a possible loss contingency or financial impairment from the ongoing default by ISGC. The parties continue to engage in discussions as to possible courses of agreement and cure. Due to ongoing discussions with ISGC over the future of the venture, the Company decided to recognize these payments as its own expenses because it is not clear whether SMMI will be reimbursed by OGT. For the nine months ending September 30, 2015, SMMI recorded $196,000 of deferred payroll. These deferred salaries were earned made in accordance with the OGT LLC operating agreement and have been recorded on SMMI’s books. OGT Management includes SMMI`s Eric Jones, Jim Collord, and Larry Thackery as CFO. These salaries will continue be deferred until a later date. On September 27, 2015 the Company reached an agreement with our legal counsel, Baird Hanson LLP, a company owned by a director. In this agreement, Baird Hanson LLP will provide legal services in the execution of a mining lease with option to purchase agreement between SMMI and OGT. The amount of $96,038 represents the total billing hours accrued for the nine months ended September 30, 2015.

4. Related Party Convertible No

4. Related Party Convertible Notes Payable	9 Months Ended
	Sep. 30, 2015
Notes
4. Related Party Convertible Notes Payable	4. Related Party Convertible Notes Payable On December 9, 2014 the Company executed two promissory notes payable to directors, Eric Jones and Jim Collard. The amount of the notes was $25,000 each for a total of $50,000, and identical in terms. The interest rate on these notes is 10% per month of the principal balance. The notes were due in full no later than July 1, 2015, and had a minimum amount due of 5 months of interest if the notes are paid back earlier. Interest expense recorded in connection with these notes was $33,616 during the nine months ended September 30, 2015. The original convertible notes contained a beneficial conversion feature of $13,492 which was recognized as a discount on the notes 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 nine months ended September 30, 2015, the Company recorded the full amount of $11,565 in interest expense related to the amortization of the discount. On July 1, 2015, these notes were extended to December 31, 2015, by Eric Jones and Jim Collord. As part of this extension the outstanding interest payable on the notes of $33,616 was added to the principal balance of $50,000 resulting in a new outstanding principal balance of $83,616. The interest charge remains the same, as per the original notes agreement at $5,000 per month. The extension contained a conversion feature. The note holder can convert all of the outstanding principal and interest at 75% of the average closing bid price of the Company for the 20 days prior to the notice of conversion. The fair value of the conversion feature using the Black Scholes model was $68,726. This amount plus the additional interest to be paid due to the extension is more than 10% of the outstanding balance of the original notes. Thus the debt amendment has been accounted for as a debt extinguishment. Therefore, $ 68,726 was expensed to recognize the loss on modification of debt during the quarter ended September 30, 2015.

5. Stockholders' Equity

5. Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Notes
5. Stockholders' Equity	5. Stockholders’ Equity The Company’s common stock has a par value of $0.001 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; (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 have the same exercise price and terms as the Warrants. Through December 31, 2014, 15,000 agent warrants have been issued, and $1,500 in commissions were paid based on the sale of 300,000 shares. Through December 31, 2014 the Company received $460,000 in gross proceeds from the Private Placement, issuing a total 9,240,000 in common stock and 4,620,000 common stock purchase warrants. For the year ended December 31, 2014, the Company received $417,000 in gross proceeds, issued 8,340,000 in shares of common stock and 4,170,000 common stock purchase warrants. During 2014, the Company awarded 300,000 in common shares and 150,000 common stock purchase warrants, in lieu of $15,000 cash for Professional services, legal and accounting. Pixellight of Boise, Idaho developed photos to be used in advertising and brochures by Thunder Mountain Gold. On October 1, 2014, in lieu of payment on account of $3,000, Pixellight elected to participate in the private placement, and received 60,000 common shares and 30,000 common stock purchase warrants. On February 28, 2015, the Company entered into a subscription agreement with a two individuals whereby the company sold 4,000,000 shares at US $0.05 per share. There were no warrants associated with the subscriptions. As of March 15, 2015, the Company has issued the 4,000,000 shares under this agreement, and the placement is closed.

6. Stock Options

6. Stock Options	9 Months Ended
	Sep. 30, 2015
Notes
6. Stock Options	6. Stock Options The Company has established a Stock Option Incentive Plan (“SIP”) 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. On February 6, 2015, the Board approved a grant of one million options to purchase shares of common stock under the SIP to Directors, Executive Officers and other non-employees consultants. The granted options have been valued and recorded using the Black Scholes model. The Black Scholes calculation on the 1,000,000 options that were issued was a fair value of $0.06 per option ($60,000 in total). The SIP was approved by shareholder vote during the January 20, 2015 annual shareholder meeting. The options were fully vested upon grant and recognized as compensation expense in the nine months ended September 30, 2015. The fair value of each option award was estimated on the date of the grant using the assumptions noted in the following table: Stock price $ 0.06 Exercise price $ 0.06 Expected volatility 224.20% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 1.48% Expected forfeiture rate - The following is a summary of the Company’s options issued under the Stock Option Incentive Plan: Shares Weighted Average Exercise Price Outstanding at December 31, 2013 and 2014 2,990,000 $ 0.20 Granted in 2015 1,000,000 0.06 Outstanding and exercisable at September 30, 2015 3,990,000 $ 0.17 The average remaining contractual term of the options outstanding and exercisable at September 30, 2015 was 2.744 years. As of September 30, 2015 options outstanding and exercisable had no aggregate intrinsic value.

7. Subsequent Events

7. Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes
7. Subsequent Events	7. Subsequent Events In early October, the Company signed an Amendment with Newmont USA Limited that modifies and extends the original Trout Creek Joint Exploration Agreement (see Note 2). The extension allows the Company modified work commitments on the project reducing the annual work obligations.

1. Summary of Significant Acc13

1. Summary of Significant Accounting Policies and Business Operations: Accounting Estimates (Policies)	9 Months Ended
	Sep. 30, 2015
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 Acc14

1. Summary of Significant Accounting Policies and Business Operations: Cash and Cash Equivalents (Policies)	9 Months Ended
	Sep. 30, 2015
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 Acc15

1. Summary of Significant Accounting Policies and Business Operations: Investments in Joint Venture (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Investments in Joint Venture	Investments in Joint Venture The Company’s accounting policy for joint ventures is as follows: 1. The Company uses 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 cost. If other than temporary impairment in value is determined, it would then be charged to current net income or loss. 2. If the Company enters into a joint venture in which there is joint control between the parties or the Company has significant influence, 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. If other than temporary impairment in value is determined, it would then be charged to current net income or loss. 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 and non-controlling interest is presented separately. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the ventures management committee.

1. Summary of Significant Acc16

1. Summary of Significant Accounting Policies and Business Operations: Share-based Compensation (Policies)	9 Months Ended
	Sep. 30, 2015
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.

1. Summary of Significant Acc17

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Policies)	9 Months Ended
	Sep. 30, 2015
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 September 30, 2015 and 2014, the potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are: For the period ended September 30, 2015 2014 Stock options 3,990,000 2,990,000 Warrants 5,015,000 3,835,000 Total possible dilution 9,005,000 6,825,000

1. Summary of Significant Acc18

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)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For the period ended September 30, 2015 2014 Stock options 3,990,000 2,990,000 Warrants 5,015,000 3,835,000 Total possible dilution 9,005,000 6,825,000

6. Stock Options_ Schedule of S

6. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Stock price $ 0.06 Exercise price $ 0.06 Expected volatility 224.20% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 1.48% Expected forfeiture rate -

6. Stock Options_ Schedule of20

6. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value	Shares Weighted Average Exercise Price Outstanding at December 31, 2013 and 2014 2,990,000 $ 0.20 Granted in 2015 1,000,000 0.06 Outstanding and exercisable at September 30, 2015 3,990,000 $ 0.17

1. Summary of Significant Acc21

1. Summary of Significant Accounting Policies and Business Operations (Details)	9 Months Ended
	Sep. 30, 2015
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.
Entity Incorporation, Date of Incorporation	Nov. 9, 1935
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 nine month period ended September 30, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015. 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, 2014.
Substantial Doubt about Going Concern	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 September 30, 2015 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 joint venture 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.
Substantial Doubt about Going Concern, Conditions or Events	The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at September 30, 2015 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.
Substantial Doubt about Going Concern, Management's Evaluation	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 joint venture partners.

1. Summary of Significant Acc22

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) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	$ 3,990,000	$ 2,990,000
Warrants	5,015,000	3,835,000
Dilutive Securities, Effect on Basic Earnings Per Share	$ 9,005,000	$ 6,825,000

3. South Mountain Project (Deta

3. South Mountain Project (Details)	Sep. 30, 2015USD ($)
Details
Deferred Compensation Liability, Current and Noncurrent	$ 196,000
Accrued Professional Fees	$ 96,038

4. Related Party Convertible 24

4. Related Party Convertible Notes Payable (Details) - USD ($)		Dec. 09, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Details
Due to Related Parties			$ 83,616		$ 83,616		$ 50,000
Debt Instrument, Interest Rate During Period							10.00%
Debt Instrument, Convertible, Beneficial Conversion Feature		$ 13,492
Amortization of related party notes payable discounts					11,565
Loss on modification of debt	[1]		$ 68,726		$ 68,726
[1]	Note 4

5. Stockholders' Equity (Detail

5. Stockholders' Equity (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended	15 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2014	Feb. 28, 2015	Feb. 06, 2015
Details
Common Stock, Par Value		$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares Authorized		200,000,000	200,000,000	200,000,000
Preferred Stock, Shares Authorized		5,000,000	5,000,000	5,000,000
Preferred Stock, Par Value		$ 0.0001	$ 0.0001	$ 0.0001
Private placement description		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.
Agent warrants issued			15,000
Payments for Commissions			$ 1,500
Proceeds from Issuance of Private Placement			$ 417,000	$ 460,000
Private placement stock issued			8,340,000	9,240,000
Private placement warrants issued			4,170,000	4,620,000
Stock Issued During Period, Shares, Issued for Services			300,000
Common stock purchase warrants issued for services			150,000
Stock issued for accounts payable			$ 3,000
Stock issued for accounts payable stock			60,000
Warrants issued for accounts payable, warrants			30,000
Stock Issued During Period, Shares, New Issues	4,000,000
Sale of Stock, Price Per Share					$ 0.05	$ 0.06

6. Stock Options (Details)

6. Stock Options (Details) - $ / shares	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Feb. 28, 2015	Feb. 06, 2015
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	1,000,000	1,000,000
Sale of Stock, Price Per Share			$ 0.05	$ 0.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value	$ 60,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		2 years 8 months 28 days

6. Stock Options_ Schedule of27

6. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2015	Feb. 28, 2015	Feb. 06, 2015
Details
Sale of Stock, Price Per Share		$ 0.05	$ 0.06
Fair Value Assumptions, Exercise Price			$ 0.06
Fair Value Assumptions, Expected Volatility Rate	224.20%
Fair Value Assumptions, Expected Term	5 years
Fair Value Assumptions, Risk Free Interest Rate	1.48%

6. Stock Options_ Schedule of28

6. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Details) - $ / shares	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		3,990,000	2,990,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 0.17	$ 0.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	1,000,000	1,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 0.06

7. Subsequent Events (Details)

7. Subsequent Events (Details)	9 Months Ended
	Sep. 30, 2015
Details
Subsequent Event, Description	In early October, the Company signed an Amendment with Newmont USA Limited that modifies and extends the original Trout Creek Joint Exploration Agreement (see Note 2). The extension allows the Company modified work commitments on the project reducing the annual work obligations.