THOR ENERGY PLC — Capital/Financing Update 2021

Dec 23, 2021

ASX Code: "THR"

THOR

MINING PLC

24 December 2021

THOR MINING PLC

Registered Numbers:
United Kingdom 05276 414
Australia 121 117 673

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

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

Email:
corporate@thormining.com

Website:
www.thormining.com

Twitter
@ThorMining

Enquiries:
Nicole Galloway Warland
Managing Director
Thor Mining PLC
+61 8 7324 1935

Nominated Advisor
Jessica Cave
WH Ireland Ltd
+44 (0) 20 7220 1666

AIM & ASX Listings
Shares: THR
ASX Options: THROA
OTCQB Listing
Shares: THORF

Directors:
Nicole Galloway Warland
Mark Potter
Mark McGeough
Alastair Clayton

Key Projects:
- Gold
Ragged Range WA
- Copper
Alford East SA
Kapunda SA
Alford West SA
- Uranium/Vanadium
Colorado/Utah USA
- Tungsten
Molyhil NT

CLEANSING NOTICE – NOTICE UNDER SECTION 708A

This notice is given by Thor Mining PLC (“Thor” or the “Company”) (AIM, ASX: THR; OTCQB: THORF), under section 708A of the Corporations Act 2001 (Cth) (the Act).

The Company gives notice that, it issued the following securities:
- on 22 December 2021, it issued 227,200,000 ordinary fully paid shares in the capital of the Company, issued as Chess Depositary Interests,
- on 23 December 2021, it issued 3,800,000 ordinary fully paid shares in the capital of the Company, issued as Chess Depositary Interests,
- on 23 December 2021, it issued 190,666,666 options, to be quoted on the ASX, convertible into ordinary fully paid shares in the capital of the Company,

The above securities were issued without disclosure to investors under Part 6D.2 of the Act.

This notice is given under section 708A(5)(e) of the Act and accordingly as at the date of this notice:

1. the Company has complied with:
   (a) the provisions of Chapter 2M of the Act as they apply to the Company;
   (b) section 674 of the Act;
2. there is no information which is "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed by the Company under section 708A(6)(e) of the Act.

Authorised by the Board.

For further information please contact

THOR MINING PLC

Ray Ridge, Company Secretary
+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

Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified resource company quoted on the AIM Market of the London Stock Exchange, ASX in Australia and OTCQB Market in the United States.

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ASX Code: "THR"

24 December 2021

THOR MINING PLC

The Company is advancing its diversified portfolio of precious, base, energy and strategic metal projects across USA and Australia. Its focus is on progressing its copper, gold, uranium and vanadium projects, while seeking investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km² of exploration licences with highly encouraging early stage gold and nickel results in the Pilbara region of Western Australia, for which drilling is planned in the first half of 2021.

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate of 177,000 tonnes contained copper & 71,000 oz gold¹.

Thor also holds a 30% interest in 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 and the Alford West copper project, both situated in South Australia and both considered amenable to recovery by way of ISR.²³

Thor holds 100% interest in two private companies with mineral claims in the US states of Colorado and Utah with historical high-grade uranium and vanadium drilling and production results.

Thor holds 100% of the advanced Molyhil tungsten project, including indicated and inferred resources⁴, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵

Notes

¹ www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
² www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
³ www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
⁴ www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf
⁵ www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf

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