Artemis Resources Limited — Major Shareholding Notification 2021

Feb 2, 2021

ASX Code: “THR”

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3 February 2021

THOR MINING PLC

NOTIFICATION OF MAJOR INTEREST IN SHARES

Registered Numbers: United Kingdom 05276 414 Australia 121 117 673

Registered Office: 58 Galway Avenue MARLESTON, SA, 5035 Australia

The Directors of Thor Mining PLC (AIM, ASX THR) (“Thor” or “Company”) wish to advise of the receipt of a notification of a change in the holding of a substantial shareholder (Form TR-1, attached). The Form TR-1 has been released in the UK, under the AIM rules of the London Stock Exchange and Thor makes this equivalent announcement to the ASX.

Ph: +61 8 7324 1935 Fx: +61 8 8351 5169

Email: corporate@thormining.com

Authorised for release by Ray Ridge, Company Secretary.

For further information please contact

THOR MINING PLC

Website: www.thormining.com

Ray Ridge , Company Secretary +61 8 7324 1935

Twitter

@ThorMining Enquiries: Mick Billing Executive Chairman Thor Mining PLC +61 8 7324 1935

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company’s twitter page @ThorMining.

About Thor Mining PLC

Nominated Advisor Colin Aaronson Grant Thornton +44 (0) 20 7383 5100

AIM & ASX Listings: Shares: THR

Directors: Michael Billing Mark Potter Mark McGeough

Key Projects:

• Gold Ragged Range WA

• Tungsten Molyhil NT

• Pilot Mountain USA

• Copper Kapunda SA Moonta SA

• Uranium/Vanadium Colorado/Utah USA

Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

At the 100% owned Ragged Range in the Pilbara region of Western Australia, Thor has exciting early stage results for which gold and nickel drilling is planned.

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR).

Thor also holds a 30% interest Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery⁴, and also holds rights to earn a 75% interest in portion of the Moonta Copper project also in South Australia, and is considered amenable to recovery by way of in situ recovery⁵.

Thor holds mineral claims in the US states of Colorado and Utah with historical highgrade uranium and vanadium drilling and production results.

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit².

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3 February 2021

ASX Code: “THR”

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Thor holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits.

Notes

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcement of 26 November 2018

³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018

⁴ Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018

⁵ Refer ASX and AIM announcement of 15 August 2019

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TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)[i]

NOTIFICATION OF MAJOR HOLDINGS (to be sent t Word format if possible)i	o the relevant issuerandto the FCA in Microso	ft
1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are at-	Thor Mining PLC
tachedii:
1b. Please indicate if the issuer is a non-UK issuer	(please mark with an “X” if appropriate)
Non-UK issuer

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii:	1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii:	1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii:	Thor Mining PLC	Thor Mining PLC	Thor Mining PLC	Thor Mining PLC
1b. Please indicate if the issuer is a non-UK issuer(please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification(please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name			Artemis Resources Limited
City and country of registered office (if applicable)			Perth, Australia
4. Full name of shareholder(s)(if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi:			27/01/2021
6. Date on which issuer notified (DD/MM/YYYY):			01/02/2021
7. Total positions of person(s) subject to the notification obligation
	% of voting rights at- tached to shares (to- tal of 8. A)	% of voting rights through financial instru- ments (total of 8.B 1+8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights of is- suervii
Resulting situation on the date on which threshold was crossed or reached	2.50%	1.25%		3.76%	1,622,703,822
Position of previous notification (if applicable)

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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached[viii]

A: Voting rights attached to shares

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rightsix		% of voting rights
	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB00BD0NBV71 Ordinary Shares	40,647,060		2.50%
SUBTOTAL 8. A	40,647,060		2.50%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))	B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))	B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))	B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))	B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial in- strument	Expiration datex	Exercise/ Conversion Periodxi	Number of voting rights that may be acquired if the instrument is exercised/converted.	% of voting rights
		SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))	B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))	B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))	B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))	B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))	B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration datex	Exercise/ Conversion Pe- riodxi	Physical or cash settlementxii	Number of voting rights	% of voting rights
Warrants	23/10/2022	To 23/10/2022	Cash - £0.01 per new ordi- nary share	11,500,000	On exercise 0.71%
Warrants	27/01/2023	To 27/01/2023	Cash - £0.016 per new ordi- nary share	8,823,530	On exercise 0.54%
			SUBTOTAL 8.B.2	20,323,530	1.25%

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Commercial in confidence

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)

9. Information in relation to the person subject to the notification obligation(please mark the applicable box with an “X”)	9. Information in relation to the person subject to the notification obligation(please mark the applicable box with an “X”)	9. Information in relation to the person subject to the notification obligation(please mark the applicable box with an “X”)	9. Information in relation to the person subject to the notification obligation(please mark the applicable box with an “X”)	9. Information in relation to the person subject to the notification obligation(please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii				X
Fullchain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)
Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial in- struments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held

11. Additional information[xvi]

Place of completion	London, United Kingdom
Date of completion	1 February 2021

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