30 August 2017

THOR MINING PLC

TUNGSTEN & COPPER INTERCEPTS AT DESERT SCHEELITE

PILOT MOUNTAIN - NEVADA

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to report positive outcomes from a diamond drill hole at the Desert Scheelite deposit at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA (Figure 1).

Highlights:

·   Several scheelite (tungsten trioxide) mineralised intervals were identified by blue fluorescence under ultra violet "UV" light

·   Intercepts of sulphide mineralisation including copper bearing chalcopyrite

Significant Intercepts:

·   15 metres (m) of scheelite mineralisation from 198 metres.

·   4m of scheelite mineralisation from 217m.

·   18m of scheelite mineralisation from 256m, including sub massive sulphide mineralisation, including chalcopyrite, for 5m from 256m and for a further 4m from 266m.

Detailed logging of the core samples is complete and samples submitted for laboratory assay.

Mr Mick Billing, Executive Chairman of Thor:  

"Very encouraging looking core samples from Desert Scheelite, and hopefully the assays, expected in several weeks, will confirm this.

"Desert Scheelite continues to shape as a very exciting deposit, amongst the suite of deposits at Pilot Mountain with extremely promising growth potential."

Table 1: Drill hole orientation summary

The Desert Scheelite diamond drilling program was designed as to test for high grade extensions to previous mineralisation with a best result in 2012 of 17.5m @ 1.80% copper plus 2.2% zinc and 32 g/t silver, along with 13.5m of 0.89% scheelite.

Hole 17DS-DD01 was designed to test a zone approximately 50m below these historic intersections

**Link to Desert Scheelite east - west longitudinal projection showing approximate intercept location for drill hole 17DS-DD01. Other 2017 holes noted are from the reverse circulation drill program earlier in 2017.

http://www.rns-pdf.londonstockexchange.com/rns/2171P_-2017-8-29.pdf

In response to challenging drilling conditions through the volcanic cover to the north of Desert Scheelite, the Company has elected to sight the next hole to the south of the deposit and drill through more competent quartz monzonite.  Regulatory permitting to drill from this new site is in process, and subsequent drilling at Desert Scheelite will be deferred until this permitting is in place.

The drill rig has now moved to the Good Hope site and has commenced re-drilling hole 17GH-RC01 which terminated prior to target depth. Preliminary XRF analyses on 17GH-RC01 reported on 18^th August 2017 comprised 27.4m @ 1.1% copper, 1.3% zinc and 0.19% tungsten trioxide (WO₃ ) including 10.0m (true width estimate of 6.5m) from 17.5m depth at 0.32% WO₃

On completion of the drill programme and the receipt of all final assay data the Company will issue an updated report with the full results. XRF analyses are considered indicative, preliminary data and are only undertaken on small subsamples of the RC drill cuttings. XRF analyses is not suited for core or whole rock. Follow up laboratory analyses are more definitive than XRF results.

Enquiries:

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.

 Competent Person's Report

The information in this report that relates to exploration results is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy.  Mr Bradey is an employee of Thor Mining PLC.  He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.  Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 

About Thor Mining PLC

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

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in 2015¹ suggested attractive returns.  Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated Resources Estimate² on 1 of the 4 known deposits. 

Thor also holds a production royalty entitlement from the Spring Hill Gold project³ of:

·    A$6 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and

·    A$14 per ounce of gold⁴ produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.

Notes

·     ¹ Refer ASX and AIM announcement of 12 January 2015

·     ² Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017

·     ³ Refer ASX and AIM announcement of 29 February 2016

·     ⁴ At the date of this announcement gold is trading at approximately A$1,650/oz

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data