THOR ENERGY PLC — Capital/Financing Update 2015

Oct 21, 2015

ASX Code: "THR"

THOR

MINING PLC

Date: 22 October2015

Company Announcements Office,
ASX Securities Limited,
20, Bridge Street,
Sydney, N.S.W. 2000

THOR MOVES TO 100% OWNERSHIP OF SPRING HILL GOLD PROJECT

The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to advise the receipt of ministerial approval for the acquisition of the balance of the Spring Hill Gold Project in Australia's Northern Territory.

On 30 April 2015, Thor advised it had agreed terms to acquire the 49% equity interest in Spring Hill that it did not own, from WDR Gold Pty Ltd, a subsidiary entity of Western Desert Resources Limited which is presently in Liquidation - the previous equity holder of the gold project stake acquired by Thor.

All approvals for the acquisition have been obtained and the tenements are now registered in the name of Thor's wholly owned subsidiary, TM Gold Pty Ltd with a 100% interest.

Consideration for the acquisition of A$210,000 (approximately UK£99,000) plus Thor CDIs to the value of A$100,000, is now payable, and Thor will proceed with settlement. As previously stated, Thor has agreed terms with an Australian investor for loan finance for the cash component of the acquisition.

Figure 1: Spring Hill project location

Mr Mick Billing, Executive Chairman of Thor Mining:

"The gold price now sits around A$1,600/ounce, and the Spring Hill project has potential for development at low capital and operating costs. Holding 100% of Spring Hill places Thor in a robust position to secure maximum benefit, and a number of strategies are currently being explored to progress to near term development and mine start."

For further information, please contact:

THOR MINING PLC

Mick Billing
Executive Chairman
+61 8 7324 1935

THOR MINING PLC

Registered Numbers:
United Kingdom 05 276 414
Australia 121 117 673

Registered Office:
58 Galway Avenue,
MARLESTON SA, 5033
Australia

Postal Address:
PO BOX 458
MARLESTON SA, 5033
Australia

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

Email:
corporate@thormining.com

Website:
www.thormining.com

Enquiries:

Mick Billing
Executive Chairman
Thor Mining PLC
+61 8 7324 1935

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

ASX Listings:
Shares: THR

AIM Listings:
Shares: THR

Directors:
Michael Billing
Michael Ashton
Gregory Durack
Trevor Ireland
David Thomas

Projects:
- Tungsten
Molyhil NT
Pilot Mountain USA
- Gold
Spring Hill NT
Dundas WA

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