Thor Mining PLC (THR.ASX.L) Half-year Report

The Directors of Thor Mining plc (AIM, ASX: THR) are pleased to announce the Company’s results for the six months ended 31 December 2020.

The Company’s Half Year Report was also today lodged with the Australian Stock Exchange (“ASX”) as required under the listing rules of the ASX. A copy of the Half Year Report will shortly be available on the Company’s website www.thormining.com

Key Highlights:

GOLD (Ragged Range in the Pilbara region of Western Australia)

· High grade stream sediment samples

· Geochemical sampling delineates 13km anomalous gold trend

COPPER (Alford East, SA Australia)

· JV farm-in agreement to acquire an 80% interest in copper deposits

· Maiden Mineral Resource Estimate (MRE) containing 177,000 tonnes of copper and 71,500 oz gold

COPPER (Alford West & Kapunda, SA Australia)

· Increased equity in EnviroCopper Ltd (ECL) to 30%

· ECL continued to advance the Kapunda project with hydro-geological test-work and copper production tests on drill samples

URANIUM & VANADIUM (Colorado & Utah, USA )

· completed the acquisition of American Vanadium Pty Ltd

· field sampling program returned a number of high-grade uranium and vanadium assays from the Colorado claims.

TUNGSTEN & MOLYBEDENUM (Molyhil, NT Australia)

· Major project status was awarded to the Molyhil tungsten and molybdenum

· Discussions to fund critical minerals project development are on-going

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) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

At the 100% owned Ragged Range Project in the Pilbara region of Western Australia, Thor has exciting early stage results for which gold and nickel drilling is planned.”

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR)

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 in South Australia recoverable by way of in situ recovery⁴. Thor also holds rights to earn a 75% interest in portion of the Alford West copper project also in South Australia, and is also considered amenable to recovery by way of in situ recovery⁵.

Thor holds 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 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 Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits².

Thor 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.

Notes

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcement of 26 November 2018, and 29 January 2020

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

http://www.share-talk.co.uk/announcements/rns/thor-mining-plc/half-year-report/202103151014062538S


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