Thor Mining : 3,120m RC Drilling Program Completed

ASX Code: "THR"

11 July 2022

THOR MINING PLC

onlyRegistered Numbers: United Kingdom 05276 414 Australia 121 117 673

Registered Office:

58 Galway Avenue

MARLESTON, SA, 5035

Australia

Ph: [phone] useEmail:

[e-mail]

Web ite:

www.thormining.com

Twitter @ThorMining

personalEnquiries:

Nicole Galloway Warland M n ging Director Thor Mining PLC

[phone]

Nominated Advisor

Jessica Cave

WH Ireland Ltd

[phone]

AIM & ASX Listings:

Sha es: THR

OTCQB Listing

Shar s: THORF

Dir ctors:

Nicole Galloway Warland Alastair Clayton

Mark McGeough

ForKey P ojects:

• Gold

Ragged Range Pilbara WA

• C pper Alford East SA

• Uranium / Vanadium

Colorado / Utah USA

• Tungsten

Molyhil NT

Ragged Range Project, WA

RC Drilling Program Completed

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the completion of the drilling program at the Company's 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia.

Project highlights:

• Thor drilled 48 reverse circulation ("RC") holes totalling 3,120m at Ragged Range over the last three weeks.
• Drilling tested both structural and geochemical targets along the Sterling Prospect 13km gold corridor, with 11 drill traverses completed (Figure 1).
• Drilling targeted interpreted dilational zones associated with faulting and folding along the regional thrust faulted contact between the mafic and ultramafic units (Figure 1).
• The drilling program also included 1 drillhole at the Krona Prospect to test the electromagnetic ("EM") conductor recently identified beneath the nickel gossan (ASX: THR 17 June 2022). This hole has been cased in preparation for a Downhole Electromagnetic Survey (DHEM).
• Assays have been expedited to a laboratory in South Australia, with results anticipated in August 2022.

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

"Thor has successfully completed its second phase of drilling at the Sterling prospect, testing several exciting structural targets associated with complex faulting and folding along the 13km gold corridor. We were pleased to also drill test the Krona nickel-copper Fixed Loop Electromagnetic target as part of this drilling program.

"We now eagerly await assay results and look forward to updating the market as results come through."

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Figure 1: Sterling and Krona prospects highlighting completed drilling traverses

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The Ragged Range Project, located in the prospective Eastern Pilbara Craton, Western Australia, is 100% owned by Thor Mining and comprises E46/1190, E46/1262, E46/1355, E46/1340 and the recently granted E46/1393 (Figure 2 and Figure 3).

Figure 2: Tenement & Prospect Location Plan

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Figure 3: Ragged Range Tenement Location Plan showing Sterling, Krona and Kelly's prospects

RC Drilling Program

STERLING PROSPECT

48 drillholes totalling 3120m were drilled along the Sterling Prospect 13km structural gold corridor, with drill holes generally angled -60 degrees toward the west, near perpendicular to the structural controls of the dominant faulted contact between the Euro Basalt and the Dalton Suite ultramafics (Figure 1). Drill depths range from approximately 60-170m.

This second phase of drilling tested interpreted dilational zones (potential trap sites for mineralisation and the potential source of the gold anomalies found in stream and soil samples). Surface anomalism is associated with a series of faults and folds, subparallel or at a high angle to the regional thrust faulted contact (Norman Cairns Fault) between the Euro Basalt and the Dalton Suite ultramafics along the Sterling Prospect 13km gold corridor (Figure 1 and 3).

KRONA PROPSECT

As part of the drilling program, one drill hole was drilled into the Fixed Loop Electromagnetic ("FLEM") conductor identified below the nickel gossan at Krona Prospect, Figure 1 (ASX: THR 17 June 2022). This hole has been cased

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in preparation for DHEM survey.

DJC Drilling Pty Ltd completed drilling program. Drill samples are being freighted to the Bureau Veritas laboratory in Adelaide, SA, for analysis with assay results anticipated in August.

Photo Plate 2: Drilling operation showing drilling team placing PVC casing down the Krona hole in

preparation for DHEM Survey.

Sterling Prospect

Since acquiring the Ragged Range project in late 2019, Thor has completed a series of systematic stream sediment programs over the tenure and an airborne magnetic survey, defining a 13km structurally controlled gold corridor - the Sterling Prospect (Figure 2). High-grade gold stream results, including up to 2.2g/t Au, were reported from sampling in 2019 and 2020 (THR: ASX announcement 23 June 2021).

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