NEWS RELEASE

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES

DIVIDEND - FOREIGN EXCHANGE RATE CONFIRMATION

Thor Explorations Ltd (TSXV / AIM: THX) ("Thor Explorations", "Thor" or the "Company") announces the foreign exchange rates that will be applied to its second quarterly dividend which was announced on 14 July, 2025.

For shareholders that have elected to receive the second quarterly dividend in Great British Pound Sterling ("GBP") or United States Dollars ("USD"), the foreign exchange rates that will be applied are CAD$1:£0.54624 and CAD$1:US$0.72537. Accordingly, the GBP and USD equivalents of the second quarterly dividend are £0.006828 and US$0.009067 per Ordinary Share, respectively.

The Company also confirms that the second quarterly dividend will be paid on 15 August, 2025.

THOR EXPLORATIONS LTD.

For further information please contact:

Thor Explorations Ltd

Email: info@thorexpl.com

Canaccord Genuity (Nominated Adviser & Broker)

Henry Fitzgerald-O'Connor / James Asensio / Harry Rees

Tel: +44 (0) 20 7523 8000

Hannam & Partners (Broker)

Andrew Chubb / Matt Hasson / Jay Ashfield / Franck Nganou

Tel: +44 (0) 20 7907 8500

BlytheRay (Financial PR)                                      

Tim Blythe / Megan Ray / Said Izagaren

Tel: +44 207 138 3203

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay

Tel:  +44 (0) 20 3004 9512

About Thor Explorations

Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration, development and production of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100% interest in the Segilola Gold Project located in Osun State, Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol "THX".