Thor Commences Trading on OTCQB Venture Market

17 March 2021

Thor Mining PLC

THOR MINING COMMENCES TRADING ON OTCQB Venture MARKET in the United States

Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce that trading in the Company's ordinary shares will begin today on the OTCQB Market in the United States, under the ticker "THORF".

The OTCQB Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process.

B. Riley Securities acted as the Company's OTCQB sponsor. B. Riley Securities, Inc. is a full-service investment bank and subsidiary of B. Riley Financial, Inc., based in Los Angeles with offices across the United States, providing corporate finance, research, sales and trading services.

Trading on the OTCQB market has no impact on existing Thor ordinary shares, which will continue to trade on the London Stock Exchange (LSE) and the Australian Securities Exchange (ASX) under the symbol "THR", and no new ordinary shares will be issued as part of the cross-trade. Thor will continue to rely on the announcements and disclosures it makes to LSE and ASX and will have no Sarbanes-Oxley or SEC reporting requirements.

Mick Billing, Executive Chairman of Thor Mining, commented:

"We are delighted to be able to commence trading on the OTCQB platform, and to improve access for U.S. institutional and retail investors to invest in the Company and share in the growth of Thor Mining PLC.

"In addition to our portfolio of Australian projects, the Company holds a 100% interest in exciting uranium and vanadium exploration assets in Colorado, and Utah, where drilling is scheduled shortly, and 100% of the large Pilot Mountain tungsten resource in Nevada.  We are hopeful that these projects will be attractive to U.S. investors, and are pleased to be able to provide the US investment platform opportunity."

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For further information on the Company, please visit www.thormining.com or contact the following: 

About Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified resource company quoted on the AIM Market of the London Stock Exchange, ASX in Australia and OTCQB Market in the United States.

The Company is advancing its diversified portfolio of precious, base, energy and strategic metal projects across USA and Australia. Its focus is on progressing its copper, gold, uranium and vanadium projects, while seeking investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km² of exploration licences with highly encouraging early stage gold and nickel results in the Pilbara region of Western Australia, for which drilling is planned in the first half of 2021.

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate of 177,000 tonnes contained copper & 71,000 oz gold¹.

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 and the Alford West copper project, both situated in South Australia and both considered amenable to recovery by way of ISR.²³

Thor holds 100% interest in two private companies with 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, including indicated and inferred resources⁴, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.

Adjacent to 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 deposits.⁵

Thor holds 100% of the Pilot Mountain tungsten project in Nevada, USA which has a JORC 2012 Indicated and Inferred Resources Estimate on 2 of the 4 known deposits.⁶

Notes

¹ Refer AIM announcement of 26 January 2021

²Refer AIM announcement of 12 February 2018

³Refer AIM announcement of 15 August 2019

⁴ Refer AIM announcement of 10 October 2019

⁵ Refer AIM announcement of 26 November 2018 and AIM announcement of 29 January 2020

⁶ Refer AIM announcements of 13 December 2018, and 22 May 2017