Thor Energy Regulatory News (THR)

4 September 2020

THOR MINING PLC

MANAGEMENT CHANGES - APPOINTMENT OF EXPLORATION MANAGER

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) advise that executive director, and exploration manager Richard Bradey has provided notice of his impending retirement, effective from 29 October 2020.

The directors also advise the appointment of Ms Nicole Galloway Warland as Exploration Manager, commencing from 1st October 2019.

Ms Galloway Warland, who graduated from the University of Technology, Sydney with a BSc (Hons) Geology, has had a career spanning more than 25 years in the mining & exploration industry, working across a broad range of jurisdictions and geological provinces in Australia, Eastern Europe, and South America.

Her experience spans from grassroots exploration through to project evaluation, and both open cut and underground mining. Her commodity focus to date has principally been on gold, copper-gold, base metals, nickel, uranium, and lithium..

Nicole is an active member of the geological fraternity, with Directorship on the Federal Council of the Australian Institute of Geoscientists (AIG) and Chairs the annual South Australian Exploration and Mining Conference (SAEMC).

Mick Billing, Executive Chairman of Thor Mining, commented:

"We would like to thank Richard for his contribution over a period of more than nine years with Thor. His contribution has been very valuable, and his commitment has been highly commendable."

"On behalf of the board, I would like to welcome Nicole Galloway Warland to the Thor team. Her background and enthusiasm for the role are impressive, and we look forward to her contribution."

"Thor Mining is entering a very exciting new phase with the recent outstanding results at Ragged Range which require energetic follow-up, and we believe that the background & skills of Nicole, make her well suited for this challenge."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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About Thor Mining PLC

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.

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.

Thor is also acquiring up to 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 also 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. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.

The Company also has exciting gold interests at Ragged Range in the Pilbara region of Western Australia.

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 2016 and ASX announcement of 12 February 2018

⁵ Refer ASX and AIM announcement of 15 August 2019