29 May 2025

Thor Energy PLC

("Thor" or the "Company")

Upsized HY-Range Natural Hydrogen/Helium Geochemical Survey Successfully Completed

Thor Energy plc (AIM/ASX: THR), the dual-listed natural hydrogen and helium exploration company, is pleased to announce the successful completion of its comprehensive soil air geochemical survey across its HY-Range project (RSEL 802) in South Australia. This survey, which commenced in early May, as detailed in the Company's announcement on 28 April 2025 ("HY-Range Exploration and Corporate Update Hydrogen and Helium Geochemical Survey to Commence in May"), marks a significant step in evaluating the natural hydrogen and helium potential of the licence area.

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§ Successful completion of the planned geochemical survey at the HY-Range Project (RSEL 802), South Australia.

§ A total of 103 sample sites were investigated, including several additional step-out sample sites, based on field observations.

§ Survey completed efficiently, safely, on time, and within budget.

§ Dual objectives achieved: Comprehensive licence-wide soil air sampling for natural hydrogen and helium, and successful deployment and establishment of novel operational procedures for mobile hydrogen and helium gas chromatography.

§ Analysis and interpretation of samples from the investigated sites are underway, with initial findings anticipated in June 2025.

§ Results will be crucial for proving active gas generation and migration, high-grading areas of interest, and underpinning future work programs.

Andrew Hume, Managing Director of Thor Energy, commented:

"We are delighted to announce the successful and efficient completion of our geochemical survey at HY-Range, which was not only executed flawlessly to fulfil pre-drill acquisition objectives but also saw an expansion in sample locations beyond our initial target list. The ability to gather real-time high-resolution data, test and adjust acquisition methodology and step out with follow-up locations justifies the utilisation of a mobile gas chromatograph.

"The innovative approach of SGS Australia Pty Ltd and CSI Australia, combined with the Company being available for commentary on the survey, was key to maximising this success. The effective deployment and validation of the mobile gas chromatograph in the field is an exciting development that will deliver future benefits to Thor across our natural hydrogen and helium portfolio.

"We eagerly await the initial results in June, which we believe will be pivotal in unlocking the potential of HY-Range. This will help us to identify high-priority targets and confidently advance our exploration strategy in our very promising natural hydrogen and helium project."

Expanded Scope and Operational Success

The survey operations were conducted with exceptional efficiency and safety, concluding on time and within budget. A total of 103 sample sites were investigated, with samples collected from shallow holes across the licence. This expanded program resulted in comprehensive sample collection exceeding the initially planned 94 samples, reflecting additional step-out work in certain areas to increase understanding adjacent to some primary locations, as shown in Figures 1 and 2.

The Company extends its great credit to its contractors, SGS Australia Pty Ltd and CSI Australia, for their professionalism, adaptability, solution-oriented thinking and innovation throughout the program.

Figure 1: Soil air drilling and sampling operations

Dual Objectives Achieved with Future Benefits

The geochemical survey was designed with dual objectives, both of which were successfully met:

·      Comprehensive Soil Gas Analysis: Designed to systematically sample and analyse soil air samples at specific investigated sites located throughout RSEL 802. This analysis provides a baseline throughout the licence for understanding the presence, concentration, and distribution of natural hydrogen and helium across the RSEL 802 licence area.

·      Innovative Mobile Gas Chromatograph Deployment: A key feature driven by R&D was to incorporate and establish optimised methodologies for novel mobile, onsite gas chromatography. As highlighted in our previous announcement, this innovative approach allows for real-time, lab-level accuracy measurements at the sample location. This will provide significant advantages, including high-accuracy readings, immediate follow-up capabilities, and elimination of sample contamination risk.

Analysis Underway and Next Steps

Samples from the 103 sites investigated are now undergoing detailed analysis and interpretation. The Company anticipates releasing its initial findings from this survey in June 2025, which will provide answers to the survey's objectives of:

·      Assessing the presence of active gas generation and migration pathways within the HY-Range project area.

·      Identifying and contributing to the high grading of specific areas of interest and prospectivity for natural hydrogen and helium.

·      Underpinning and refining the design of future work programs, including potential exploration drilling.

              Figure 2: Sample injection and chromatograph testing operations

The Company looks forward to updating the market on the results of the geochemical survey and further corporate developments in due course.

The Board of Thor Energy Plc has approved this announcement and authorised its release.

For further information on the Company, please visit the website or please contact the following:

Thor Energy PLC

Andrew Hume, Managing Director

Alastair Clayton, Executive Chairman

Rowan Harland, Company Secretary

Tel: +61 (8) 6555 2950

Zeus Capital Limited (Nominated Adviser and Joint Broker)

Antonio Bossi / Darshan Patel / Gabriella Zwarts

Tel: +44 (0) 203 829 5000

SI Capital Limited (Joint Broker)

Nick Emerson

Tel: +44 (0) 1483 413 500

Yellow Jersey (Financial PR)

Dom Barretto / Shivantha Thambirajah / Bessie Elliot

[email protected]

Tel: +44 (0) 20 3004 9512

About Thor Energy Plc

The Company is focused on hydrogen and helium, with a portfolio that also includes uranium and other energy metals that are crucial in the shift to a clean energy economy.

For further information on Thor Energy and to see an overview of its projects, please visit the Company's website at https://thorenergyplc.com/.