Thor Energy Regulatory News (THR)

4 October 2021

THOR MINING PLC

Board Change

The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the appointment of Mr Alastair Clayton as a Non-Executive Director with immediate effect.

Mr Clayton has over 25 years' experience in in the mining and exploration industry, identifying, financing and developing mineral, energy and materials processing projects in Australia, Europe and Africa. He is a qualified geologist, having obtained a BSc (Hons) Geology from the University of Western Australia, and holds a Graduate Diploma in Finance and Economics from the Securities Institute of Australia.

Mr Clayton, who is based in London, has considerable experience with both ASX and AIM listed companies, notably as a Director of then ASX100 component Extract Resources Ltd, representing Kalahari Minerals PLC, in the ~£1.25B takeover by CGNPC to secure the Husab Uranium project in 2012. He is currently Executive Director at Artemis Resources Limited (ASX:ARV).

Nicole Galloway Warland, Managing Director of Thor Mining, commented:

"We are pleased to announce the appointment of Alastair as a Non-Executive Director of Thor. His commercial experience will strengthen Thor's Board, and I look forward to working with him as we continue to progress our exciting portfolio of projects."

Alastair Clayton, Non-Executive Director of Thor Mining, commented:

"I am looking forward to joining the Board of Thor and helping to support Nicole and her team to grow its balance sheet by advancing its excellent suite of projects. I believe my experience in the international uranium sector and current work in the Pilbara Gold sector with Artemis Resources in Australia is complimentary with these aims."

Alastair Raoul Clayton, aged 49, does not own any shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.

A list of Mr Alastair Clayton current directorships and partnerships together with those held within the last five years is set out below:

- Ends -

For further information on the Company, please visit www.thormining.com or contact the following: 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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.

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 scheduled in last quarter 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

Thor holds 100% of the Pilot Mountain tungsten project in Nevada, USA which is subject to a sale option agreement.6

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

⁶ http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210901-pilot-mountain-project-us1.8m-sale-option.pdf