Thor Energy Regulatory News (THR)

16 June 2015

THOR MINING PLC

Placing to raise £525,000

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR), are pleased to announce that the Company has raised a total of £525,000 before expenses through the placing of 1,050,000,000 ordinary shares of 0.01p each ("Ordinary Shares") at a price of 0.05p each with new investors (the "Placing"). The Placing was undertaken by the Company's broker Northland Capital Partners Limited. Subscribers for these Ordinary Shares under the Placing will also be granted one warrant for every two shares subscribed for under the Placing, to subscribe for further Ordinary Shares at a price of 0.075p per share, valid for 12 months.

The net proceeds of the Placing will enable the Company to progress its Spring Hill gold project, in which it is in the process of acquiring a 100% interest. Proposed activities include further drilling of selected mineralised zones to test for continuity of the screen fire assay upgrade reported in 2014, along with additional gravity extraction testwork following encouraging initial gravity testwork, also in 2014. Additional exploration work at its Molyhil tungsten project is also proposed to test for tungsten mineralisation at selected targets very close to Molyhil. The Placing will also provide the Company with additional working capital.

The Company will shortly issue 175,000,000 Ordinary Shares and will convene a general meeting of the Company at which shareholders will be asked to give the directors the necessary authorities to issue the remaining 875,000,000 Ordinary Shares. A notice of general meeting will shortly be sent to shareholders and further announcements will be made as soon as practicable.

Application has been made for the admission to trading on AIM of the first 175,000,000 Ordinary Shares, with admission expected to take place on 19 June 2015.

Following the allotment of the 175,000,000 shares, Thor will have 3,228,091,211 shares in issue with voting rights. Thor has no shares in treasury. This number of shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the FCA's Disclosure and Transparency Rules.

Enquiries:

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.