Thunder Mountain Gold (THMG) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 22, 2018
Document and Entity Information
Entity Registrant Name	Thunder Mountain Gold Inc
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Entity Central Index Key	711,034
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding		57,645,579
Trading Symbol	thmg

Thunder Mountain Gold, Inc. Con

Thunder Mountain Gold, Inc. Consolidated Balance Sheets Interim period unaudited - USD ($)		Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents		$ 30,115	$ 36,454
Prepaid expenses and other assets		32,176	28,473
Total current assets		62,291	64,927
Property and Equipment:
Land		280,333	280,333
Equipment, net of accumulated depreciation of $113,161 and $75,959, respectively		69,444	106,646
Total property and equipment		349,777	386,979
Mineral interests	[1]	479,477	479,477
Total assets		891,545	931,383
Current liabilities:
Accounts payable and other accrued liabilities		129,929	92,311
Accrued related party liability	[2]	241,685	181,313
Accrued interest payable to related parties	[3]	48,240	36,949
Deferred payroll	[2]	1,041,500	871,500
Related party notes payable	[3]	126,576	217,688
Total current liabilities		1,587,930	1,399,761
Accrued reclamation costs		65,000	65,000
Total liabilities		1,652,930	1,464,761
Commitments and Contingencies	[4]	0	0
Stockholders' equity (deficit):
Common stock; $0.001 par value; 200,000,000 shares authorized, 57,645,579 and 55,095,579, respectively, shares issued and outstanding		57,646	55,096
Additional paid-in capital		5,811,988	5,457,538
Less: 11,700 shares of treasury stock, at cost		(24,200)	(24,200)
Accumulated deficit		(6,780,509)	(6,195,923)
Total Thunder Mountain Gold, Inc. stockholders' equity (deficit)		(935,073)	(707,489)
Noncontrolling interest in Owyhee Gold Trust	[1]	173,690	174,111
Total stockholders' equity (deficit)		(761,385)	(533,278)
Total liabilities and stockholders' equity (deficit)		$ 891,545	$ 931,383
[1]	Note 3
[2]	Note 6
[3]	Note 5
[4]	Notes 2, 3

Statement of Financial Position

Statement of Financial Position - Parenthetical - USD ($)	Sep. 30, 2018	Dec. 31, 2017
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	57,645,579	55,095,579
Common Stock, Shares Outstanding	57,645,579	55,095,579
Accumulated depreciation	$ 113,161	$ 75,959
Treasury stock, shares	11,700	11,700
Treasury stock, value	$ 24,200	$ 24,200

Thunder Mountain Gold, Inc. C_2

Thunder Mountain Gold, Inc. Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Expenses:
Exploration	$ 21,470	$ 46,613	$ 197,543	$ 144,881
Legal and accounting	5,489	9,728	113,524	48,975
Management and administrative	53,986	69,354	214,170	284,074
Loss on sale of equipment		1,021		1,021
Depreciation	12,193	15,003	37,202	57,582
Total expenses	93,138	141,719	562,440	536,533
Other income (expense):
Interest expense, related parties	(4,547)	(4,612)	(24,191)	(12,454)
Miscellaneous income (expense)	1,337	1,200	2,044	1,295
Total other income (expense)	(3,210)	(3,412)	(22,147)	(11,159)
Net Loss	(96,348)	(145,131)	(584,586)	(547,692)
Net Loss - Thunder Mountain Gold, Inc.	$ (96,348)	$ (145,131)	$ (584,586)	$ (547,692)
Net Loss per common share-basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average common shares outstanding-basic and diluted	57,645,579	54,864,185	57,554,653	54,791,550

Thunder Mountain Gold, Inc. C_3

Thunder Mountain Gold, Inc. Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net loss	$ (145,131)	$ (584,586)	$ (547,692)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	15,003	37,202	57,582
Loss on sale of Equipment	1,021		1,021
Common stock options issued for services			53,558
Amortization of related party notes payable discount		8,888
Change in:
Prepaid expenses and other assets		(3,703)	3,723
Accounts payable and other accrued liabilities		37,618	2,384
Accrued related party liability		60,372
Accrued interest payable to related parties		15,303	12,453
Deferred payroll		170,000	234,000
Net cash used by operating activities		(258,906)	(182,971)
Cash flows from investing activities:
Proceeds from sale of equipment			41,000
Net cash provided by investing activities			41,000
Cash flows from financing activities:
Proceeds from sale of common stock and warrants		252,988
Proceeds from exercise of common stock options			20,550
Borrowing on related parties notes payable			20,000
Distribution to noncontrolling interest		(421)
Net cash provided by financing activities		252,567	40,550
Net increase (decrease) in cash and cash equivalents		(6,339)	(101,421)
Cash and cash equivalents, beginning of period		36,454	108,184
Cash and cash equivalents, end of period	$ 6,763	30,115	6,763
Noncash financing and investing activities:
Common stock and warrants issued for payment of related parties notes payable and accrued interest		$ 104,012
Stock options exercised in exchange for payment of related parties notes payable and related accrued interest			$ 20,125

1. Summary of Significant Accou

1. Summary of Significant Accounting Policies and Business Operations	9 Months Ended
	Sep. 30, 2018
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 These unaudited interim consolidated financial statements have been prepared by the management of the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim consolidated financial statements have been included. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company's financial position and results of operations. Operating results for the nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2018. For further information refer to the financial statements and footnotes thereto in the Company’s audited financial statements for the year ended December 31, 2017 as filed with the Securities and Exchange Commission. The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has historically incurred losses and does not have sufficient cash at September 30, 2018 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. 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. If the going concern basis was not appropriate for these financial statements, adjustments would be necessary to the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used. Reclassifications Certain reclassifications have been made to conform prior period’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity (deficit) 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. (“SMMI”); and Owyhee Gold Trust, LLC (“OGT”) a company in which the Company has majority control. Intercompany accounts are eliminated in consolidation. Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 interests, environmental remediation liabilities, deferred tax assets, and stock-based compensation. 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. Income Taxes The Company recognizes deferred income tax liabilities or assets at the end of each period using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. The Company has no financial assets or liabilities that are adjusted to fair value on a recurring basis. Financial Instruments The Company’s financial instruments include cash and cash equivalents and related party notes payable the carrying value of which approximates fair value based on the nature of those instruments. Mineral Interests The Company capitalizes costs for acquiring mineral interests 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 based on 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 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 venture’s 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. In a joint venture where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is typically 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. See Note 3 regarding the Company’s investment in Owyhee Gold Trust, LLC. 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. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The adoption of this update on January 1, 2018 had no impact on the Company’s consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The adoption of this update on January 1, 2018 had no impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after January 1, 2018. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures. 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 options and warrants to purchase the Company’s common stock. 2018 2017 Stock options 3,710,000 4,700,000 Warrants 1,275,000 - Total possible dilution 4,985,000 4,700,000

2. Commitments

2. Commitments	9 Months Ended
	Sep. 30, 2018
Notes
2. Commitments	2. Commitments The Company has two lease arrangements with land owners that own land parcels adjacent to the Company’s South Mountain patented and unpatented mining claims. The leases were originally for a seven-year period, with annual payments of $20 per acre. The leases were renewed for an additional 10 years at $30 per acre paid annually; committed payments are listed in the table below. The lease payments have no work requirements. Annual Payment Acree Lease (June) $ 3,390 Lowry Lease (October) 11,280 Total $14,670 The Company has 78 unpatented claims (1,600 acres) in the Trout Creek area and 21 unpatented claims in the South Mountain area. The claim fees are paid on these unpatented claims annually as follows: Target Area 2018 Trout Creek -State of Nevada $12,090 Trout Creek -Lander County 940 South Mountain-State of Idaho 3,255 Total $ 16,285

3. South Mountain Project

3. South Mountain Project	9 Months Ended
	Sep. 30, 2018
Notes
3. South Mountain Project	3. South Mountain Project The Company’s wholly-owned subsidiary SMMI is the sole manager of the South Mountain Project in its entirety through a separate Mining Lease with Option to Purchase (“Lease Option”) with the Company’s majority-owned subsidiary OGT. The Lease Option includes a capped $5 million less, net returns royalties paid through the date of exercise. The Lease Option expires in November 2026. If SMMI exercises the option, the option payment of $5 million less advance royalties will be distributed 100% by OGT to OGT’s minority member. Under the Lease Option, SMMI pays an advance $5,000 net returns royalty to OGT annually on November 4 which is distributed to OGT’s minority member. OGT’s financial information is included 100% in the Company’s consolidated financial statements and reflects its minority member’s non-controlling interest. Changes in the non-controlling interest equity balance is as follows: Nine Months Ended September 30, 2018 2017 Balance at beginning of period $ 174,111 $ 178,702 Distribution to non-controlling interest (421) - Net income (loss) attributable to noncontrolling interest - - Balance at end of period $ 173,690 $ 178,702

4. Property and Equipment

4. Property and Equipment	9 Months Ended
	Sep. 30, 2018
Notes
4. Property and Equipment	4. Property and Equipment The Company’s property and equipment are as follows: September 30, 2018 December 31, 2017 Vehicles $ 22,441 $ 22,441 Buildings 65,071 65,071 Construction Equipment 36,447 36,447 Mining Equipment 58,646 58,646 182,605 182,605 Accumulated Depreciation (113,161) (75,959) 69,444 106,646 Land 280,333 280,333 Total Property and Equipment $ 349,777 $ 386,979

5. Related Parties Notes Payabl

5. Related Parties Notes Payable	9 Months Ended
	Sep. 30, 2018
Notes
5. Related Parties Notes Payable	5. Related Parties Notes Payable At both September 30, 2018 and December 31, 2017, the Company had notes payable balances of $56,768 and $69,808 with Eric Jones, the Company’s President and Chief Executive Officer and Jim Collard, the Company’s Vice President and Chief Operating Officer, respectively. These notes, as amended, are due December 31, 2018. On October 25, 2017 the Company received $100,000 from Paul Beckman, a director of the Company, under a convertible promissory note. Terms of the note called for interest at 1% per month, with the entire balance of principal and interest due in full on April 24, 2018. The convertible promissory note contained the option for the holder to convert any portion of the principal and interest into Company common stock at $0.15 per common share (a total of 666,667 shares). At inception, the market price for the Company’s common stock was $0.17 per common share which exceeded the conversion price. As such, the convertible note contained a beneficial conversion feature of $13,333 which was recognized as a discount on the note on the date of issuance. The discount was being amortized over the note term using the straight-line method, which approximates the effective interest method. On February 26, 2018, Mr. Beckman participated in the Company’s Private Placement (see Note 7) and acquired 1,000,000 Units for $140,000. A portion of this amount was in exchange for retirement of Mr. Beckman’s convertible note payable of $100,000 and accrued interest payable of $4,012. Upon the retirement of Mr. Beckman’s convertible promissory note, the Company recognized the unamortized portion of the discount of $5,100 as interest expense. After this transaction, the Company had no remaining obligation under the convertible note agreement with Mr. Beckman. During the nine months ended September 30, 2018 and 2017, the Company recognized a total of $24,191 and 12,454, respectively, in interest expense for the notes discussed above. Accrued interest payable was $48,240 and $36,949 at September 30, 2018 and December 31, 2017, respectively.

6. Related Party Transactions

6. Related Party Transactions	9 Months Ended
	Sep. 30, 2018
Notes
6. Related Party Transactions	6. Related Party Transactions In addition to the related parties notes payable discussed in Note 5, the Company had the following related party transactions. Three of the Company’s officers had been deferring compensation for services The officer’s balances at September 30, 2018 are as follows: Eric Jones, President and Chief Executive Officer - $420,000 (December 31, 2017 – $350,000), Jim Collord, Vice President and Chief Operating Officer - $420,000 (December 31, 2017 – $350,000), and Larry Thackery, Chief Financial Officer - $201,500 (December 31, 2017 – $171,500). On July 31, 2018 the Company stopped expensing and deferring compensation for the three Company officers in the interest of marketing the SMMI project. The Company engages Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services. During the nine-month periods ended September 30, 2018, the Company incurred $65,530 in legal expense with Mr. Baird. There was no expense for the comparable periods in 2017. At September 30, 2018 and December 31, 2017, the balance due to Baird was $241,685 and $181,313, respectively. During 2017, Eric Jones advanced funds to the Company for operating expenses. The balance of Mr. Jones’ advance at both December 31, 2017 and September 30, 2018 was $10,971 and is included in accounts payable and other accrued liabilities on the consolidated balance sheet.

7. Stockholders' Equity

7. Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
Notes
7. Stockholders' Equity	7. 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 February 20, 2018, the Board of Directors approved a Private Placement financing of up to $750,000 from the sale of equity units at a price of $0.14 per unit. 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 $0.20 for a period of 12 months. Through March 31, 2018, the Company has sold Units representing a total of 2,050,000 in shares of common stock and 1,025,000 common stock purchase warrants for total proceeds of $287,000. Of this amount, $182,988 was received in cash and $104,012 was in exchange for retirement of Mr. Beckman’s convertible note payable and related accrued interest payable See Note 5. At September 30, 2018, the Company has outstanding warrants for 1,275,000 shares of common stock with an exercise price of $0.20 that expire in 2019. There were no outstanding warrants at December 31, 2017.

8. Stock Options

8. Stock Options	9 Months Ended
	Sep. 30, 2018
Notes
8. Stock Options	8. Stock Options In March 2017, the Company granted 600,000 stock options to The options are exercisable on or before March 31, 2022 at a price of $0.10 for 200,000 shares, and at a price of $0.09 for the remaining 400,000 shares. The fair value of each option award granted in March 2017 was estimated on the date of the grant using the assumptions noted in the following table: Number of Options 600,000 Stock price $0.09 - $0.10 Exercise price $0.09 - $0.10 Expected volatility 235.5% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 1.96% The following is a summary of the Company’s options issued under the Stock Option Incentive Plan: Shares Weighted Average Exercise Price Outstanding and exercisable at December 31, 2016 4,515,000 $0.08 Granted 600,000 0.09 Exercised (415,000) 0.10 Outstanding and exercisable at December 31, 2017 4,700,000 0.09 Granted - - Expired (990,000) (0.07) Outstanding and exercisable at September 30, 2018 3,710,000 $0.09 The average remaining contractual term of the options outstanding and exercisable at September 30, 2018 was 2.23 years. As of September 30, 2018, options outstanding and exercisable had an aggregate intrinsic value of approximately $79,500 based on the Company’s stock price of $0.11.

1. Summary of Significant Acc_2

1. Summary of Significant Accounting Policies and Business Operations: Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2018
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. (“SMMI”); and Owyhee Gold Trust, LLC (“OGT”) a company in which the Company has majority control. Intercompany accounts are eliminated in consolidation.

1. Summary of Significant Acc_3

1. Summary of Significant Accounting Policies and Business Operations: Accounting Estimates (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 interests, environmental remediation liabilities, deferred tax assets, and stock-based compensation. 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 Acc_4

1. Summary of Significant Accounting Policies and Business Operations: Cash and Cash Equivalents (Policies)	9 Months Ended
	Sep. 30, 2018
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 Acc_5

1. Summary of Significant Accounting Policies and Business Operations: Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Income Taxes	Income Taxes The Company recognizes deferred income tax liabilities or assets at the end of each period using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized.

1. Summary of Significant Acc_6

1. Summary of Significant Accounting Policies and Business Operations: Fair Value Measurements (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Fair Value Measurements	Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. The Company has no financial assets or liabilities that are adjusted to fair value on a recurring basis.

1. Summary of Significant Acc_7

1. Summary of Significant Accounting Policies and Business Operations: Financial Instruments (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Financial Instruments	Financial Instruments The Company’s financial instruments include cash and cash equivalents and related party notes payable the carrying value of which approximates fair value based on the nature of those instruments.

1. Summary of Significant Acc_8

1. Summary of Significant Accounting Policies and Business Operations: Mineral Interests (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Mineral Interests	Mineral Interests The Company capitalizes costs for acquiring mineral interests 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 based on 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 Acc_9

1. Summary of Significant Accounting Policies and Business Operations: Investments in Joint Venture (Policies)	9 Months Ended
	Sep. 30, 2018
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 venture’s 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. In a joint venture where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is typically 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. See Note 3 regarding the Company’s investment in Owyhee Gold Trust, LLC.

1. Summary of Significant Ac_10

1. Summary of Significant Accounting Policies and Business Operations: Reclamation and Remediation (Policies)	9 Months Ended
	Sep. 30, 2018
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.

1. Summary of Significant Ac_11

1. Summary of Significant Accounting Policies and Business Operations: Share-based Compensation (Policies)	9 Months Ended
	Sep. 30, 2018
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 Ac_12

1. Summary of Significant Accounting Policies and Business Operations: Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2018
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The adoption of this update on January 1, 2018 had no impact on the Company’s consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The adoption of this update on January 1, 2018 had no impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after January 1, 2018. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

1. Summary of Significant Ac_13

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Policies)	9 Months Ended
	Sep. 30, 2018
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 options and warrants to purchase the Company’s common stock. 2018 2017 Stock options 3,710,000 4,700,000 Warrants 1,275,000 - Total possible dilution 4,985,000 4,700,000

1. Summary of Significant Ac_14

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, 2018
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	2018 2017 Stock options 3,710,000 4,700,000 Warrants 1,275,000 - Total possible dilution 4,985,000 4,700,000

2. Commitments_ Schedule of lan

2. Commitments: Schedule of land parcel lease payments (Tables)	9 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of land parcel lease payments	Annual Payment Acree Lease (June) $ 3,390 Lowry Lease (October) 11,280 Total $14,670

2. Commitments_ Schedule of unp

2. Commitments: Schedule of unpatented claims lease payments (Tables)	9 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of unpatented claims lease payments	Target Area 2018 Trout Creek -State of Nevada $12,090 Trout Creek -Lander County 940 South Mountain-State of Idaho 3,255 Total $ 16,285

3. South Mountain Project_ Chan

3. South Mountain Project: Changes in non-controlling interest equity balance (Tables)	9 Months Ended
	Sep. 30, 2018
Tables/Schedules
Changes in non-controlling interest equity balance	Nine Months Ended September 30, 2018 2017 Balance at beginning of period $ 174,111 $ 178,702 Distribution to non-controlling interest (421) - Net income (loss) attributable to noncontrolling interest - - Balance at end of period $ 173,690 $ 178,702

4. Property and Equipment_ Prop

4. Property and Equipment: Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Tables/Schedules
Property, Plant and Equipment	September 30, 2018 December 31, 2017 Vehicles $ 22,441 $ 22,441 Buildings 65,071 65,071 Construction Equipment 36,447 36,447 Mining Equipment 58,646 58,646 182,605 182,605 Accumulated Depreciation (113,161) (75,959) 69,444 106,646 Land 280,333 280,333 Total Property and Equipment $ 349,777 $ 386,979

8. Stock Options_ Schedule of S

8. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	9 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Number of Options 600,000 Stock price $0.09 - $0.10 Exercise price $0.09 - $0.10 Expected volatility 235.5% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 1.96%

1. Summary of Significant Ac_15

1. Summary of Significant Accounting Policies and Business Operations (Details)	9 Months Ended
	Sep. 30, 2018
Details
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.
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 has historically incurred losses and does not have sufficient cash at September 30, 2018 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. 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.
Reclassifications	Reclassifications Certain reclassifications have been made to conform prior period’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity (deficit) or cash flows.

1. Summary of Significant Ac_16

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, 2018	Sep. 30, 2017
Details
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	$ 3,710,000	$ 4,700,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	1,275,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,985,000	4,700,000

2. Commitments_ Schedule of l_2

2. Commitments: Schedule of land parcel lease payments (Details)	9 Months Ended
	Sep. 30, 2018USD ($)
Details
Acree Lease	$ 3,390
Lowry Lease	11,280
Payments to Acquire Mineral Rights	$ 14,670

2. Commitments_ Schedule of u_2

2. Commitments: Schedule of unpatented claims lease payments (Details)	9 Months Ended
	Sep. 30, 2018USD ($)
Details
Unpatented claims lease payments, detail 1	$ 12,090
Unpatented claims lease payments, detail 2	940
Unpatented claims lease payments, detail 3	3,255
Claim fees	$ 16,285

3. South Mountain Project_ Ch_2

3. South Mountain Project: Changes in non-controlling interest equity balance (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Details
Beginning balance	$ 174,111	$ 178,702
Distribution to noncontrolling interest	(421)
Nonredeemable Noncontrolling Interest	$ 173,690	$ 178,702

4. Property and Equipment_ Pr_2

4. Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Details
Vehicles	$ 22,441	$ 22,441
Buildings	65,071	65,071
Construction Equipment	36,447	36,447
Mining Equipment	58,646	58,646
Property, Plant and Equipment, Gross	182,605	182,605
Accumulated depreciation	(113,161)	(75,959)
Property, Plant, and Equipment, Owned, Net	69,444	106,646
Land	280,333	280,333
Total Property and Equipment	$ 349,777	$ 386,979

5. Related Parties Notes Paya_2

5. Related Parties Notes Payable (Details)	Feb. 26, 2018USD ($)	Feb. 20, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Oct. 25, 2017USD ($)	Sep. 30, 2017USD ($)
Details
Notes payable related parties, Jones			$ 56,768	$ 69,808
Notes payable related parties, Collord			56,768	$ 69,808
Convertible promissory note from related party					$ 100,000
Convertible promissory note from related party beneficial conversion feature					$ 13,333
Private placement units sold	1,000,000
Private placement units sold value	$ 140,000
Repayments of Related Party Debt	$ 4,012	$ 104,012
Convertible promissory note from related party interest expense			$ 24,191			$ 12,454
Interest Payable						$ 36,949

6. Related Party Transactions (

6. Related Party Transactions (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Details
Deferred compensation, Jones	$ 420,000	$ 350,000
Deferred compensation, Collord	420,000	350,000
Deferred compensation, Thackery	201,500	171,500
Fees for legal services	241,685	181,313
Proceeds from related party debt, Jones	$ 10,971	$ 10,971

7. Stockholders' Equity (Detail

7. Stockholders' Equity (Details) - USD ($)	Feb. 26, 2018	Feb. 20, 2018	Sep. 30, 2018	Dec. 31, 2017
Details
Common Stock, Par Value			$ 0.001	$ 0.001
Common Stock, Shares Authorized			200,000,000	200,000,000
Preferred Stock, Shares Authorized			5,000,000	5,000,000
Preferred Stock, Par Value			$ 0.0001	$ 0.0001
Stock Issued During Period, Shares, New Issues		2,050,000
Common stock purchase warrants new issues stock		1,025,000
Proceeds from Issuance of Private Placement		$ 182,988	$ 287,000
Repayments of Related Party Debt	$ 4,012	$ 104,012
Class of Warrant or Right, Outstanding			1,275,000

8. Stock Options (Details)

8. Stock Options (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2017$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016$ / sharesshares
Details
Stock options granted to directors | shares	600,000	600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $		$ 53,558
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares		3,710,000	4,700,000	4,515,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares		$ 0.09	$ 0.09	$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares	600,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $		$ (990,000)	$ (415,000)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 0.10	$ (0.07)
Average remaining term		2.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $		$ 79,500

8. Stock Options_ Schedule of_2

8. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2018	Mar. 31, 2017
Details
Stock options granted to directors	600,000	600,000
Stock price per share minimum	$ 0.09
Stock price per share maximum	0.10
Exercise price per share minimum	0.09
Exercise price per share maximum	$ 0.10
Expected volatility	235.50%
Expected terms	5
Risk-free rate	1.96%