INVESTOR UPDATE

Off-hole Electromagnetic Conductor identified beneath Nickel Gossan

The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that anomalous nickel assays results from RC drilling have been returned and that an off-hole conductive anomaly has been identified from a subsequent down-hole electromagnetic geophysics survey at the Krona Prospect, within the Company’s 100% owned Ragged Range Project,located in the Eastern Pilbara, Western Australia. Project highlights:

• The shallow conductor, identified from the recent high-powered Fixed Loop Electromagnetics (FLEM) ground geophysics survey beneath the nickel gossan at the Krona Prospect, was drill tested with one RC drill hole, returning: 

   o 22RRRC045: 66m @ 0.19% nickelfrom 81m 

• The drill hole intersected the edge of the modelled FLEM conductor. 

• A down-hole electromagnetic (DHEM) geophysics survey was completed and revealed anoff-hole conductor consistent with sulphides and warrants drill testing to validate.

• The nickel gossan is located at the basal contact of the Dalton Suite ultramafic unit (altered Archean Komatiite) in the classic location for nickel-copper sulphide mineralisation.

I am encouraged that the down-hole geophysics survey at the Krona Prospect, Ragged Range has identified an off-hole electromagnetic conductor, and that the target is genuinely anomalous for nickel with assay values above background lithological values. This result warrants further drill testing to confirm this understanding. We are currently designing a drilling program at the Kelly’s Prospect following up the high-grade gold in rock chips.

- Managing Director Nicole Galloway Warland

THE

RAGGED RANGE PROJECT

The Ragged Range Project covers 92 square kilometres of exploration licences at one of the best addresses for mining exploration in Australia. 

Aproximately 40 kms west of Nullagine, in the Pilbara region of Western Australia, the Ragged Range Project area lies on the eastern boundary of the Greatland Gold Panorama project and predominantly comprises of Eastern Pilbara greenstone which is highly prospective for both gold and nickel.

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