Thunder Mountain Gold (THMG) 10-K 20 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 01, 2020	Jun. 30, 2019
Details
Registrant CIK	0000711034
Fiscal Year End	--12-31
Registrant Name	Thunder Mountain Gold Inc
SEC Form	10-K
Period End date	Dec. 31, 2019
Trading Symbol	THMG
Trading Exchange	NONE
Tax Identification Number (TIN)	91-1031015
Number of common stock shares outstanding		60,145,579
Public Float			$ 2,597,392
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Shell Company	false
Small Business	true
Emerging Growth Company	false
Entity File Number	001-08429
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	11770 W President Dr. STE F
Entity Address, Postal Zip Code	83713
Entity Address, City or Town	Boise
Entity Address, State or Province	ID
City Area Code	208
Local Phone Number	658-1037
Title of 12(g) Security	Common Stock, $0.001 par value
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false

Thunder Mountain Gold, Inc. Con

Thunder Mountain Gold, Inc. Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 252,415	$ 3,710
Prepaid expenses and other assets	18,824	29,425
Total current assets	271,239	33,135
Property and Equipment:
Land	280,333	280,333
Equipment, net	25,911	58,221
Total property and equipment	306,244	338,554
Right to use asset (Note 11)	16,625
Investment in BeMetals, at fair value (Note 4)	1,735,830	0
Mineral interests (Note 3)	0	479,477
Total assets	2,329,938	851,166
Current liabilities:
Accounts payable and other accrued liabilities	96,973	138,092
Accrued related party liability (Note 7)	216,685	241,685
Accrued interest payable to related parties (Note 6)	73,343	52,787
Operating lease liability - current (Note 11)	15,265	0
Advance from BeMetals	78,539	0
Deferred compensation (Note 7)	1,041,500	1,041,500
Related parties notes payable (Note 6)	106,576	126,576
Total current liabilities	1,628,881	1,600,640
Operating lease liability - long-term (Note11)	1,360	0
Accrued reclamation costs	65,000	65,000
Total liabilities	1,695,241	1,665,640
Commitments and Contingencies (Notes 2 and 3)	0	0
Stockholders' equity (deficit):
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, 60,145,579 and 57,645,579 shares issued and outstanding, respectively	60,146	57,646
Additional paid-in capital	6,176,576	5,811,988
Less: 11,700 shares of treasury stock, at cost	(24,200)	(24,200)
Accumulated deficit	(5,751,527)	(6,833,610)
Stockholders' Equity Attributable To Parent	460,995	(988,176)
Noncontrolling interest in Owyhee Gold Trust (Note 3)	173,702	173,702
Total stockholders' equity (deficit)	634,697	(814,474)
Total liabilities and stockholders' equity (deficit)	$ 2,329,938	$ 851,166

Thunder Mountain Gold, Inc. C_2

Thunder Mountain Gold, Inc. Consolidated Balance Sheets - Parenthetical - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Details
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 156,694	$ 124,384
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	60,145,579	57,645,579
Common Stock, Shares, Outstanding	60,145,579	57,645,579

Thunder Mountain Gold, Inc. C_3

Thunder Mountain Gold, Inc. Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Gain on mineral interest	$ 1,754,398	$ 0
Management service income	200,000	0
Total revenues	1,954,398	0
Operating expenses:
Exploration	26,773	205,814
Legal and accounting	135,015	117,802
Management and administrative	501,197	235,752
Depreciation	32,310	48,425
Total operating expenses	695,295	607,793
Net operating income (loss)	1,259,103	(607,793)
Other income (expense):
Interest expense, related parties	(21,290)	(28,739)
Unrealized loss on investment	(148,045)	0
Other	(2,685)	3,845
Total other income (expense)	(172,020)	(24,894)
Net income (loss)	1,087,083	(632,687)
Net income - noncontrolling interest in Owyhee Gold Trust	5,000	5,000
Net income loss attributable to parent	$ 1,082,083	$ (637,687)
Net income (loss) per common share-basic and diluted	$ 0.02	$ (0.01)
Weighted average common shares outstanding-basic	59,042,839	57,208,045
Weighted average common shares outstanding-diluted	59,329,735	57,208,045

Thunder Mountain Gold, Inc. C_4

Thunder Mountain Gold, Inc. Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Noncontrolling Interest	Total
Equity Balance at Dec. 31, 2017	$ 55,096	$ 5,457,538	$ (24,200)	$ (6,195,923)	$ 174,111	$ (533,378)
Equity Balance at Dec. 31, 2017	55,095,579
Shares and warrants issued for cash	$ 1,807	251,181	0	0	0	252,988
Shares and warrants issued for cash	1,807,057
Shares and warrants issued for payment of related parties notes payable and accrued interest	$ 743	103,269				104,012
Shares and warrants issued for payment of related parties notes payable and accrued interest	742,943
Distribution to noncontrolling interest	$ 0	0	0	0	(5,409)	(5,409)
Shares and warrants issued for payment of related parties notes payable and accrued interest						0
Net income (loss)	$ 0	0	0	(637,687)	5,000	(632,687)
Equity Balance at Dec. 31, 2018	57,645,579
Equity Balance at Dec. 31, 2018	$ 57,646	5,811,988	(24,200)	(6,833,610)	173,702	(814,474)
Shares and warrants issued for payment of related parties notes payable and accrued interest						0
Distribution to noncontrolling interest	0	0	0	0	(5,000)	(5,000)
Shares issued for cash, value	$ 2,500	247,500	0	0	0	250,000
Shares issued for cash	2,500,000
Shares and warrants issued for payment of related parties notes payable and accrued interest	$ 0	117,088	0	0	0	117,088
Net income (loss)	$ 0	0	0	1,082,083	5,000	1,087,083
Equity Balance at Dec. 31, 2019	60,145,579
Equity Balance at Dec. 31, 2019	$ 60,146	$ 6,176,576	$ (24,200)	$ (5,751,527)	$ 173,702	$ 634,697

Thunder Mountain Gold, Inc. C_5

Thunder Mountain Gold, Inc. Consolidated Statements of Cash Flows - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)		$ 1,087,083	$ (632,687)
Depreciation		32,310	48,425
Stock based compensation		117,088	0
Amortization of related party notes payable discount		0	8,889
Gain on mineral interest		(1,754,398)	0
Unrealized loss on investment		148,045	0
Change in:
Prepaid expenses and other assets		10,601	(952)
Accounts payable and other accrued liabilities		(31,119)	45,781
Accrued related party liability		(25,000)	60,372
Accrued interest payable to related parties		20,556	19,849
Advance from BeMetals		78,539	0
Deferred compensation		0	170,000
Net cash used by operating activities		(316,295)	(280,323)
Cash flows from investing activities:
Proceeds from mineral interest (Note 3)		350,000	0
Net cash provided by investing activities		350,000	0
Cash flows from financing activities:
Proceeds from sale of common stock and warrants		250,000	252,988
Borrowings on related parties notes payable		40,000	0
Payments on related parties notes payable		(70,000)	0
Distribution to noncontrolling interest		(5,000)	(5,409)
Net cash provided by financing activities		215,000	247,579
Net increase (decrease) in cash and cash equivalents		248,705	(32,744)
Cash and cash equivalents, beginning of year		3,710	36,454
Cash and cash equivalents, end of year		252,415	3,710
Supplemental disclosure of cash flows information:
Interest paid in cash		736	0
Noncash financing and investing activities:
Common stock and warrants issued for payment of related parties notes payable and accrued interest		0	104,012
Fair value shares received in option agreement	[1]	1,883,875	0
Accounts payable settled with related party notes payable		10,000	0
Operating lease liability arising from obtaining right to use asset (Note 11)		$ 29,617	$ 0
[1]	Note 3

1. Summary of Significant Accou

1. Summary of Significant Accounting Policies and Business Operations	12 Months Ended
	Dec. 31, 2019
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”, “THMG”, 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. On February 27, 2019, the Company entered into an Option Agreement, (the “BeMetals Option Agreement”) with BeMetals Corp. Under the terms of the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the issued and outstanding shares of South Mountain Mines, Inc. (“SMMI”) from Thunder Mountain Resources, Inc. (“TMRI”), both wholly owned subsidiaries of the Company. The term of the agreement is for two years, with an option to extend to three years, with BeMetals conducting a preliminary economic assessment ("PEA") completed by a mutually agreed third-party engineering firm. Over its term, this agreement requires cash payments to the Company of $1,350,000; $1,100,000 in cash and $250,000 in exchange for shares of the Company’s common stock. Through December 31, 2019, cash proceeds of $350,000 and $250,000 in exchange for shares of the Company’s common stock have been received by the Company. In the event that BeMetals decides not to proceed with the South Mountain Project, BeMetals will not be obligated to make any additional payments. See Note 3 for further information. Basis of Presentation and 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, however, under the BeMetals Option Agreement (Note 3), the Company now has a recurring source of revenue, and its ability to continue as a going concern is no longer dependent on equity capital raises and borrowings. However, if necessary, the Company continues to have the ability to raise additional capital in order to fund its future exploration and working capital requirements. The Company’s plans for the long-term continuation as a going concern include operating on the cash flows and consideration payments provided under the BeMetals Option Agreement. Principles of Consolidation The consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. (“TMRI”) and South Mountain Mines, Inc. (“SMMI”); and a company in which the Company owns 75% and has majority control, Owyhee Gold Trust, LLC (“OGT”). The Company’s consolidated financial statements reflect the other investor’s 25% non-controlling, capped interest in OGT. 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. Revenue Recognition Management service revenue is recognized when the Company has satisfied its performance obligation required under its management contract. Such obligation is satisfied over time as work is performed and the Company has a contractual right to payment. 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. 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 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. At December 31, 2019, the Company has one financial asset, investment in equity security, that is adjusted to fair value on a recurring basis for which the fair value is determined based on Level 1 inputs as the equity security is traded on a stock exchange. The Company has no financial liabilities that are adjusted to fair value on a recurring basis. Financial Instruments The Company’s financial instruments include cash and cash equivalents, investment in equity security and related party notes payable the carrying value of which approximates fair value based on the nature of those instruments. Investments The Company determines the appropriate classification of investments at the time of acquisition and re-evaluates such determinations at each reporting date. Equity securities determined to be marketable are carried at fair value determined using Level 1 fair value measurement inputs with the change in fair value recognized as unrealized gain (loss) in the consolidated statement of operations each reporting period. Gains and losses on the sale of securities are recognized on a specific identification basis. 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 interests are periodically assessed for impairment of value and any subsequent losses are charged to operations at the time of impairment. If a mineral interest is abandoned or sold, its capitalized costs are charged to operations. Consideration received by the Company pursuant to joint ventures or purchase option agreements is applied against the carrying value of the related mineral interest. When and if payments received exceed the carrying value, the excess amount is recognized as a gain in the consolidated statement of operations in the period the consideration is received. Investments in Joint Venture The Company’s accounting policy for joint ventures is as follows: 1. 2. 3. 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 consolidated statement of operations over the vesting period. Recent Accounting Pronouncements Accounting Standards Updates Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02 Leases (Topic 842). The update modified the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update was effective for fiscal years beginning after December 15, 2018, with early adoption permitted. Adoption of this update as of January 1, 2019 did not have a material impact on the Company’s consolidated financial statements. The Company entered into an operating lease in February 2019 that was subject to the accounting proscribed by this update. See Note 11. In June 2018, the FASB issued ASU No. 2018-07 Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The update involves simplification of several aspects of accounting for nonemployee share-based payment transactions by expanding the scope of Topic 718 to include nonemployee awards. The update was effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. Adoption of this update as of January 1, 2019 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Updates to Become Effective in Future Periods In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The update removes, modifies and makes additions to the disclosure requirements on fair value measurements. The update is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Management is evaluating the impact of this update on the Company’s fair value measurement 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 (loss) divided by the weighted average number of common shares outstanding for the periods. 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. For the year ended December 31, 2019, stock options of 960,000 are included in and 4,075,000 are excluded from the calculation of diluted income per share. Options are excluded because their exercise prices were greater than the average trading price of the Company’s common stock for the year. For the year ended December 31, 2018, stock options of 3,710,000 and warrants of 1,275,000 are excluded in the calculation of diluted income per share as their effect would have been anti-dilutive due to the net loss recognized in that period.

2. Mineral Interest Commitments

2. Mineral Interest Commitments	12 Months Ended
	Dec. 31, 2019
Notes
2. Mineral Interest Commitments	2. Mineral Interest Commitments The Company has two lease arrangements with landowners 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 leases 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 2019 Trout Creek -State of Nevada $ 12,090 Trout Creek -Lander County, Nevada 940 South Mountain-State of Idaho 3,255 Total $ 16,285

3. South Mountain Project

3. South Mountain Project	12 Months Ended
	Dec. 31, 2019
Notes
3. South Mountain Project	3. South Mountain Project BeMetals Option Agreement: On February 27, 2019, the Company entered into an Option Agreement, (the “BeMetals Option Agreement”) with BeMetals Corp., a British Columbia corporation (“BeMetals”), and BeMetals USA Corp., a Delaware corporation (“BMET USA”), a wholly owned subsidiary of BeMetals. Under the terms of the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the issued and outstanding shares of SMMI from TMRI, both wholly owned subsidiaries of the Company. SMMI is the Company’s subsidiary that holds the Company’s investment in the South Mountain project mineral interest. The term of the agreement is for two years with BeMetals completing a preliminary economic assessment ("PEA") completed by a mutually agreed third-party engineering firm. Pursuant to the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the outstanding shares of SMMI from TMRI if the following obligations are satisfied: · · · · · · · · The “Tranche 2 Completion Date” as defined by the Option Agreement was subject to several conditions, including, among other things: · · · · · Tranche 2 was completed on June 10, 2019. As per the agreement, BeMetals purchased 2,500,000 shares of the Company’s common stock for $250,000 in cash. In addition, as per the agreement, the Company received 10,000,000 shares of BeMetals common stock that had a fair value of $1,883,875 on the Tranche 2 Completion Date. To date, the Company has received consideration of $350,000 in cash and shares of BeMetals common stock with a fair value of $1,883,875 when received. Prior to the agreement, the carrying value of the Company’s investment in the South Mountain mineral interest was $479,477. The Company recognized a gain on mineral interest of $1,754,398 during the year ended on December 31, 2019. Concurrent with the BeMetals Option Agreement, BMET USA and SMMI entered into a management contract whereby BeMetals will pay $25,000 monthly to SMMI for management services to enable BMET to perform exploration and development work with respect to the South Mountain Project. Management service income of $200,000 was recognized for the year ended December 31, 2019. BeMetals provides funding to SMMI for ongoing project expenses, including office lease payments. Under the terms of the Option Agreement, SMMI’s management provides BeMetals a request for funding monthly to cover the upcoming month’s expenses. At December 31, 2019, advances received from BeMetals that have not yet been spent total $73,343. SMMI Joint Venture – OGT, LLC 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. Years Ended December 31, 2019 2018 Balance at beginning of period $ 173,702 $ 174,111 Distribution to non-controlling interest (5,000) (5,409) Net income attributable to noncontrolling interest 5,000 5,000 Balance at end of period $ 173,702 $ 173,702

4. Investment in Equity Securit

4. Investment in Equity Security	12 Months Ended
	Dec. 31, 2019
Notes
4. Investment in Equity Security	4. Investment in Equity Security In 2019 in connection with the BeMetals Option Agreement (see Note 3), the Company received 10,000,000 shares of BeMetals Corp. common stock that had a fair value of $1,883,875 when received. These shares include certain resale restrictions, including a hold period. At December 31, 2019, the fair value of the shares is $1,735,830. For the year ended December 31, 2019, the Company recognized an unrealized loss for the change in fair value of the investment of $148,045.

5. Property and Equipment

5. Property and Equipment	12 Months Ended
	Dec. 31, 2019
Notes
5. Property and Equipment	5. Property and Equipment The Company’s property and equipment are as follows: December 31, 2019 2018 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 (156,694) (124,384) 25,911 58,221 Land 280,333 280,333 Total Property and Equipment $ 306,244 $ 338,554

6. Related Parties Notes Payabl

6. Related Parties Notes Payable	12 Months Ended
	Dec. 31, 2019
Notes
6. Related Parties Notes Payable	6. Related Parties Notes Payable At December 31, 2018, 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 Collord, the Company’s Vice President and Chief Operating Officer, respectively. These notes, as amended, bear interest at 1.0% to 2.0% per month and were due December 31, 2019. 2019 Activity: On February 14, 2019 and May 9, 2019, Mr. Jones loaned an additional $10,000 (in exchange for an accounts payable balance due to him) and $30,000 in cash, respectively, at an interest rate of 1.5% per month and initially payable in full on June 30, 2019. These notes were extended to December 31, 2019. During the year ended December 31, 2019, Mr. Jones and Mr. Collord were each paid $30,000 reducing their notes payable balances. The notes payable balances to Mr. Jones and Mr. Collord were $66,768 and $39,808, respectively, for the year ended December 31, 2019. On December 31, 2019, all note balances due to Mr. Jones and Mr. Collord were amended changing the payment due date to December 31, 2020. On January 18, 2019, the Company executed a promissory note payable with Paul Beckman, a director of the Company. The amount of the note was $10,000 at an interest rate of 1.5% per month. The amount was paid in full on June 17, 2019 with interest expense of $736. 2018 Activity: 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.

7. Related Party Notes Transact

7. Related Party Notes Transactions	12 Months Ended
	Dec. 31, 2019
Notes
7. Related Party Notes Transactions	7. Related Party Transactions In addition to the related parties notes payable discussed in Note 6, the Company had the following related party transactions: Three of the Company’s officers began deferring compensation for services on April 1, 2015. On July 31, 2018, the Company stopped expensing and deferring compensation for the three Company officers in the interest of marketing the SMMI project. As part of the BeMetals agreement (Note 3), the Company resumed compensation for these officers on May 15, 2019. The officers deferred compensation balances at December 31, 2019 and 2018 represent the balances deferred prior to the BeMetals agreement and are as follows: Eric Jones, President and Chief Executive Officer - $420,000; Jim Collord, Vice President and Chief Operating Officer - $420,000; and Larry Thackery, Chief Financial Officer - $201,500. The Company engaged Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services in 2018. In advance of the BeMetals transaction Mr. Baird withdrew Baird Hanson LLP as counsel to avoid any appearance of a conflict with the then-proposed BeMetals Corp. transaction. During the year ended December 31, 2018, the Company incurred $65,530 in legal expense with Mr. Baird. There was no expense for the year ended in 2019. At December 31, 2019 and December 31, 2018, the balance due to Baird was $216,685 and $241,685, respectfully. Since 2017, Eric Jones has advanced funds to the Company for operating expenses. The balance of Mr. Jones’ advances at December 31, 2019 and December 31, 2018 was $17,046 and $20,971, respectively; the balances are included in accounts payable and other accrued liabilities on the consolidated balance sheet. At December 31, 2019 and December 31, 2018, the Company has a payable to Jim Collord of $30,476 and $33,167, respectively, attributed to reimbursement of expenses for the SMMI project. The balances are included in accounts payable and other accrued liabilities on the consolidated balance sheet.

8. Stockholders' Equity

8. Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Notes
8. Stockholders' Equity	8. 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 consisted 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. On April 27, 2018 the Company closed its Private Placement. The Company sold Units representing a total of 2,550,000 shares of common stock and 1,275,000 common stock purchase warrants for total proceeds of $357,000. Of this amount, $252,988 was received in cash and $104,012 was in exchange for retirement of a convertible note payable and related accrued interest payable. During the year ended December 31, 2019, as per the agreement, BeMetals purchased 2,500,000 shares of the Company’s common stock for $ 250,000 in cash. See Note 3. At December 31, 2019 and December 31, 2018, the Company has outstanding warrants for purchase of shares of common stock of nil and 1,275,000, respectively. During the year ended December 31, 2019, no warrants were issued or exercised, and 1,275,000 warrants with an exercise price of $0.20 expired unexercised.

9. Stock Options

9. Stock Options	12 Months Ended
	Dec. 31, 2019
Notes
9. Stock Options	9. Stock Options The Company has a Stock Incentive Plan (the “SIP”) that provides for the grant of stock options, incentive stock options, stock appreciation rights, restricted stock awards, and incentive awards to eligible individuals including directors, executive officers and advisors that have furnished bona fide services to the Company not related to the sale of securities in a capital-raising transaction. The SIP has a fixed maximum percentage of 10% of the Company’s outstanding shares The SIP also has terms and limitations, including that the exercise price for stock options and stock appreciation rights granted under the SIP must equal the stock’s fair value, based on the closing price per share of common stock, at the time the stock option or stock appreciation right is granted. In March 2019 the Company granted 1,325,000 stock options to officers and The options are exercisable on or before March 25, 2024 and have an exercise price of $ 0.09 . 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 $0.09 Exercise price $0.09 Expected volatility 209.5% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 2.21% The following is a summary of the Company’s options issued and outstanding under the SIP: Shares Weighted Average Exercise Price Outstanding and exercisable at December 31, 2017 4,700,000 0.09 Granted - - Expired (990,000) (0.07) Outstanding and exercisable at December 31, 2018 3,710,000 $0.09 Granted 1,325,000 $0.09 Expired - - Outstanding and exercisable at December 31, 2019 5,035,000 $0.09 The average remaining contractual term of the options outstanding and exercisable at December 31, 2019 was 2.03 years. As of December 31, 2019, options outstanding and exercisable had a $19,200 aggregate intrinsic value.

10. Income Taxes

10. Income Taxes	12 Months Ended
	Dec. 31, 2019
Notes
10. Income Taxes	10. Income Taxes The Company did not recognize a tax provision for the year ended December 31, 2019 due to the availability of net operating loss carryforwards. The Company did not recognize a tax benefit for the year ended December 31, 2018 due to ongoing net losses. At December 31, 2019 and 2018, net deferred tax assets were calculated based on expected blended future tax rates of 26.7% including both federal and Idaho state components. Significant components of net deferred tax assets at December 31, 2019 and 2018 are as follows: 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 1,448,900 $ 1,935,200 Share-based compensation 90,800 59,500 Deferred compensation 278,000 278,000 Investments 39,500 - Mineral properties 212,400 89,700 2,069,600 2,362,400 Deferred tax liabilities: Investment in OGT (146,800) (146,500) Net deferred tax assets 1,922,800 2,215,900 Less valuation allowance (1,922,800) (2,215,900) Net deferred tax asset $ - $ - At December 31, 2019 and 2018, the Company had net deferred tax assets which were fully reserved by valuation allowances as management cannot determine that it is more likely than not that the Company will realize the benefits of the net deferred tax asset. The income tax benefit shown in the financial statements for the years ended December 31, 2019 and 2018 differs from the federal statutory rate as follows: 2019 2018 (Provision) benefit at statutory rates $ (228,300) (21.0)% $ 132,900 21.0% State taxes (61,800) (5.7)% 7,500 1.2% Miscellaneous permanent differences 600 (0.1)% 500 0.1% Change in prior year tax estimates (2,400) (0.2)% 26,400 4.1% Change in valuation allowance 293,100 27.0% (167,300) (26.4)% Total $ - -% $ - -% The Company has analyzed its filing positions in all jurisdictions where it is required to file income tax returns and found no positions that would require a liability for uncertain income tax benefits to be recognized. The Company is subject to possible tax examinations for the years 2017 through 2019. Prior year tax attributes could be adjusted by taxing authorities. If applicable, the Company will deduct interest and penalties as interest expense on the financial statements.

11. Leases

11. Leases	12 Months Ended
	Dec. 31, 2019
Notes
11. Leases	11. Leases In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company implemented this standard effective January 1, 2019. Upon implementation of the new guidance, the Company had no leases that met the classification criteria. In February 2019, the Company entered into an operating lease for its office that met the criteria of the update. A liability and right-of-use asset of $29,617 was recognized on the lease inception date. To calculate the liability and right of use asset, the Company utilized an 8.0% incremental borrowing rate to discount the future rent payments of approx. $1,300 per month over the lease term of 2.0 years. The lease contains no renewal option. As of December 31, 2019, total future payments required through the remaining lease term of 1.09 years are as follows: For the 12 months ending December 31, 2020 $ 16,369 2021 1,369 Total 17,738 Less imputed interest (1,113) Net lease liability $ 16,625 Current portion (1,360) Long term $ 15,265 For the years ended December 31, 2019, costs relating to the operating lease were recognized in the consolidated statements of operations as follows: Base rent pursuant to lease agreement $ 14,437 Variable lease costs 5,156 Total 19,593 Less lease costs reimbursed by BeMetals (see Note 3) (12,631) $ 6,962

1. Summary of Significant Acc_2

1. Summary of Significant Accounting Policies and Business Operations: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2019
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. (“TMRI”) and South Mountain Mines, Inc. (“SMMI”); and a company in which the Company owns 75% and has majority control, Owyhee Gold Trust, LLC (“OGT”). The Company’s consolidated financial statements reflect the other investor’s 25% non-controlling, capped interest in OGT. Intercompany accounts are eliminated in consolidation.

1. Summary of Significant Acc_3

1. Summary of Significant Accounting Policies and Business Operations: Accounting Estimates (Policies)	12 Months Ended
	Dec. 31, 2019
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: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Revenue Recognition	Revenue Recognition Management service revenue is recognized when the Company has satisfied its performance obligation required under its management contract. Such obligation is satisfied over time as work is performed and the Company has a contractual right to payment.

1. Summary of Significant Acc_5

1. Summary of Significant Accounting Policies and Business Operations: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2019
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: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2019
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_7

1. Summary of Significant Accounting Policies and Business Operations: Fair Value Measurements (Policies)	12 Months Ended
	Dec. 31, 2019
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. At December 31, 2019, the Company has one financial asset, investment in equity security, that is adjusted to fair value on a recurring basis for which the fair value is determined based on Level 1 inputs as the equity security is traded on a stock exchange. The Company has no financial liabilities that are adjusted to fair value on a recurring basis.

1. Summary of Significant Acc_8

1. Summary of Significant Accounting Policies and Business Operations: Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Financial Instruments	Financial Instruments The Company’s financial instruments include cash and cash equivalents, investment in equity security 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_9

1. Summary of Significant Accounting Policies and Business Operations: Investments (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Investments	Investments The Company determines the appropriate classification of investments at the time of acquisition and re-evaluates such determinations at each reporting date. Equity securities determined to be marketable are carried at fair value determined using Level 1 fair value measurement inputs with the change in fair value recognized as unrealized gain (loss) in the consolidated statement of operations each reporting period. Gains and losses on the sale of securities are recognized on a specific identification basis.

1. Summary of Significant Ac_10

1. Summary of Significant Accounting Policies and Business Operations: Mineral Interests (Policies)	12 Months Ended
	Dec. 31, 2019
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 interests are periodically assessed for impairment of value and any subsequent losses are charged to operations at the time of impairment. If a mineral interest is abandoned or sold, its capitalized costs are charged to operations. Consideration received by the Company pursuant to joint ventures or purchase option agreements is applied against the carrying value of the related mineral interest. When and if payments received exceed the carrying value, the excess amount is recognized as a gain in the consolidated statement of operations in the period the consideration is received.

1. Summary of Significant Ac_11

1. Summary of Significant Accounting Policies and Business Operations: Investments in Joint Venture (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Investments in Joint Venture	Investments in Joint Venture The Company’s accounting policy for joint ventures is as follows: 1. 2. 3.

1. Summary of Significant Ac_12

1. Summary of Significant Accounting Policies and Business Operations: Reclamation and Remediation (Policies)	12 Months Ended
	Dec. 31, 2019
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_13

1. Summary of Significant Accounting Policies and Business Operations: Share-based Compensation (Policies)	12 Months Ended
	Dec. 31, 2019
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 consolidated statement of operations over the vesting period.

1. Summary of Significant Ac_14

1. Summary of Significant Accounting Policies and Business Operations: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Updates Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02 Leases (Topic 842). The update modified the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update was effective for fiscal years beginning after December 15, 2018, with early adoption permitted. Adoption of this update as of January 1, 2019 did not have a material impact on the Company’s consolidated financial statements. The Company entered into an operating lease in February 2019 that was subject to the accounting proscribed by this update. See Note 11. In June 2018, the FASB issued ASU No. 2018-07 Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The update involves simplification of several aspects of accounting for nonemployee share-based payment transactions by expanding the scope of Topic 718 to include nonemployee awards. The update was effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. Adoption of this update as of January 1, 2019 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Updates to Become Effective in Future Periods In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The update removes, modifies and makes additions to the disclosure requirements on fair value measurements. The update is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Management is evaluating the impact of this update on the Company’s fair value measurement disclosures.

1. Summary of Significant Ac_15

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Policies)	12 Months Ended
	Dec. 31, 2019
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 (loss) divided by the weighted average number of common shares outstanding for the periods. 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. For the year ended December 31, 2019, stock options of 960,000 are included in and 4,075,000 are excluded from the calculation of diluted income per share. Options are excluded because their exercise prices were greater than the average trading price of the Company’s common stock for the year. For the year ended December 31, 2018, stock options of 3,710,000 and warrants of 1,275,000 are excluded in the calculation of diluted income per share as their effect would have been anti-dilutive due to the net loss recognized in that period.

2. Mineral Interest Commitmen_2

2. Mineral Interest Commitments: Other Commitments (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Other Commitments	Annual Payment Acree Lease (June) $ 3,390 Lowry Lease (October) 11,280 Total $ 14,670

2. Mineral Interest Commitmen_3

2. Mineral Interest Commitments: Schedule of unpatented claims lease payments (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of unpatented claims lease payments	Target Area 2019 Trout Creek -State of Nevada $ 12,090 Trout Creek -Lander County, Nevada 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)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Changes in non-controlling interest equity balance	Years Ended December 31, 2019 2018 Balance at beginning of period $ 173,702 $ 174,111 Distribution to non-controlling interest (5,000) (5,409) Net income attributable to noncontrolling interest 5,000 5,000 Balance at end of period $ 173,702 $ 173,702

5. Property and Equipment_ Prop

5. Property and Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Property, Plant and Equipment	December 31, 2019 2018 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 (156,694) (124,384) 25,911 58,221 Land 280,333 280,333 Total Property and Equipment $ 306,244 $ 338,554

9. Stock Options_ Schedule of S

9. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Stock price $0.09 Exercise price $0.09 Expected volatility 209.5% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 2.21%

9. Stock Options_ Schedule of_2

9. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Tables)	12 Months Ended
	Dec. 31, 2019
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 and exercisable at December 31, 2017 4,700,000 0.09 Granted - - Expired (990,000) (0.07) Outstanding and exercisable at December 31, 2018 3,710,000 $0.09 Granted 1,325,000 $0.09 Expired - - Outstanding and exercisable at December 31, 2019 5,035,000 $0.09

10. Income Taxes_ Schedule of D

10. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2019 2018 Deferred tax assets: Net operating loss carryforwards $ 1,448,900 $ 1,935,200 Share-based compensation 90,800 59,500 Deferred compensation 278,000 278,000 Investments 39,500 - Mineral properties 212,400 89,700 2,069,600 2,362,400 Deferred tax liabilities: Investment in OGT (146,800) (146,500) Net deferred tax assets 1,922,800 2,215,900 Less valuation allowance (1,922,800) (2,215,900) Net deferred tax asset $ - $ -

10. Income Taxes_ Schedule of E

10. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2019 2018 (Provision) benefit at statutory rates $ (228,300) (21.0)% $ 132,900 21.0% State taxes (61,800) (5.7)% 7,500 1.2% Miscellaneous permanent differences 600 (0.1)% 500 0.1% Change in prior year tax estimates (2,400) (0.2)% 26,400 4.1% Change in valuation allowance 293,100 27.0% (167,300) (26.4)% Total $ - -% $ - -%

11. Leases_ Schedule of Future

11. Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases	For the 12 months ending December 31, 2020 $ 16,369 2021 1,369 Total 17,738 Less imputed interest (1,113) Net lease liability $ 16,625 Current portion (1,360) Long term $ 15,265

11. Leases_ Lessee, Operating L

11. Leases: Lessee, Operating Lease, Disclosure (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Lessee, Operating Lease, Disclosure	Base rent pursuant to lease agreement $ 14,437 Variable lease costs 5,156 Total 19,593 Less lease costs reimbursed by BeMetals (see Note 3) (12,631) $ 6,962

1. Summary of Significant Ac_16

1. Summary of Significant Accounting Policies and Business Operations (Details)	12 Months Ended
	Dec. 31, 2019
Details
Nature of Operations	Thunder Mountain Gold, Inc. (“Thunder Mountain”, “THMG”, 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
Going Concern	The Company has historically incurred losses, however, under the BeMetals Option Agreement (Note 3), the Company now has a recurring source of revenue, and its ability to continue as a going concern is no longer dependent on equity capital raises and borrowings.

1. Summary of Significant Ac_17

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Details)	12 Months Ended
	Dec. 31, 2019shares
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,710,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,275,000

2. Mineral Interest Commitmen_4

2. Mineral Interest Commitments: Other Commitments (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Details
Acree Lease	$ 3,390
Lowry Lease	11,280
Payments to Acquire Mineral Rights	$ 14,670

2. Mineral Interest Commitmen_5

2. Mineral Interest Commitments: Schedule of unpatented claims lease payments (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Details
Trout Creek - State of Nevada	$ 12,090
Trout Creek - Lander County	940
South Mountain - State of Idaho	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 ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Beginning balance		$ 174,111
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders		(5,409)
Net income - noncontrolling interest in Owyhee Gold Trust	$ 5,000	5,000
Nonredeemable Noncontrolling Interest		$ 173,702

5. Property and Equipment_ Pr_2

5. Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Details
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ (156,694)	$ (124,384)
Land	$ 280,333	$ 280,333

6. Related Parties Notes Paya_2

6. Related Parties Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Jones
Notes Payable, Related Parties	$ 66,768	$ 56,768
Collord
Notes Payable, Related Parties	39,808	69,808
Beckman
Notes Payable, Related Parties	10,000	100,000
Interest Expense	$ 736	4,012
Debt Instrument, Unamortized Discount		$ 5,100

7. Related Party Notes Transa_2

7. Related Party Notes Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred compensation, Jones	$ 420,000
Deferred compensation, Collord	420,000
Deferred compensation, Thackery	201,500
Fees for legal services	216,685	$ 241,685
Jones
Funds Advanced from Officers	17,046	20,971
Collord
Funds Advanced from Officers	$ 30,476	$ 33,167

8. Stockholders' Equity (Detail

8. Stockholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Common Stock, Par or Stated Value Per Share	$ 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 or Stated Value Per Share	$ 0.0001	$ 0.0001
Common stock purchase units sold		2,550,000
Common stock purchase warrants new issues stock		1,275,000
Proceeds from Issuance of Private Placement		$ 357,000
Proceeds from private placement, cash		252,988
Repayments of Related Party Debt		$ 104,012
Stock Issued During Period, Shares, Acquisitions	2,500,000
Stock Issued During Period, Value, Acquisitions	$ 250,000
Class of Warrant or Right, Outstanding	0	1,275,000
Warrants expired	1,275,000

9. Stock Options (Details)

9. Stock Options (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Details
Stock options granted to directors | shares	1,325,000
Stock price per share | $ / shares	$ 0.09

9. Stock Options_ Schedule of_3

9. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2019$ / shares
Details
Stock price per share	$ 0.09
Exercise price per share	$ 0.09
Expected volatility	209.50%
Expected terms	5.0
Risk-free rate	2.21%

9. Stock Options_ Schedule of_4

9. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	5,035,000	3,710,000	4,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.09

10. Income Taxes_ Schedule of_2

10. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Deferred Tax Assets, Operating Loss Carryforwards	$ 1,448,900	$ 1,935,200
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	90,800	59,500
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	278,000	278,000
Investments	39,500	0
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount	212,400	89,700
Deferred tax liabilities:
Income tax reconciliation for investment	(146,800)	(146,500)
Deferred Tax Assets, Net	1,922,800	2,215,900
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	(1,922,800)	(2,215,900)
Deferred Tax Assets, Net of Valuation Allowance	$ 0	$ 0

10. Income Taxes_ Schedule of_3

10. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (228,300)	$ 132,900
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	(61,800)	7,500
Effective Income Tax Rate Reconciliation, Deduction, Amount	600	500
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(2,400)	26,400
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	293,100	(167,300)
Income Tax Expense (Benefit)	$ 0	$ 0

11. Leases (Details)

11. Leases (Details)	Dec. 31, 2019USD ($)
Details
Right of Use Lease Asset at Inception	$ 29,617

11. Leases_ Schedule of Futur_2

11. Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 16,369
Operating Leases, Future Minimum Payments, Due in Two Years	1,369
Operating Leases, Future Minimum Payments Due	17,738
Less imputed interest	(1,113)
Right to use asset (Note 11)	16,625
Current portion net lease liability	(1,360)
Longterm portion net lease liability	$ 15,265

11. Leases_ Lessee, Operating_2

11. Leases: Lessee, Operating Lease, Disclosure (Details)	Dec. 31, 2019USD ($)
Details
Base rent pursuant to lease agreement	$ 14,437
Variable lease costs	5,156
Operating lease expense distributied	19,593
Less lease costs reimbursed	$ (12,631)