Thor Mining PLC Unlisted Warrants Lapsed (5605I)

TIDMTHR

RNS Number : 5605I

Thor Mining PLC

02 April 2020

2 April 2020

THOR MINING PLC

UNLISTED WARRANTS LAPSED

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) announced on 1 April 2020, as required under the listing rules of the Australian Stock Exchange ("ASX"), that the following unlisted warrants have lapsed:

   Date Granted:                   28 July 2017 
   Date of Expiry:                  31 March 2020 
   Exercise Price:                   GBP0.018 per share (1.8 pence) 
   Number of Warrants:     15,000,000

3,000,000 of the above options were held by a Director, Mick Billing, and accordingly an Appendix 3Y will be lodged in due course as required under the ASX Listing Rules.

Enquiries:

 
Mick Billing             +61 (8) 7324        Thor Mining PLC        Executive Chairman 
                           1935 
 Ray Ridge                +61 (8) 7324        Thor Mining PLC        CFO/Company 
                           1935                                       Secretary 
 Colin Aaronson/            +44 (0) 207 383   Grant Thornton UK LLP  Nominated Adviser 
  Richard Tonthat/ Niall     5100 
  McDonald 
 Nick Emerson               +44 (0) 1483      SI Capital Ltd         Joint Broker 
  Claire Louise Noyce        413 500           Hybridan LLP           Joint Broker 
  /                          +44 (0) 203 764 
  John Beresford-Peirse      2341

Updates on the C o m pan y 's activities are regular ly p o sted on Thor's we bsite w w w.th o r m i n i ng .c o m , which includes a facility to regi ster to receive these updates by email, and on the Co m pan y's twitter page @ThorMining.

Ab o u t T hor M i n i ng PLC

Thor Mining P LC (AI M, A S X: THR) is a r esources comp any quoted on the AIM M a rket of the London Stock Exchange and on ASX in Austr alia.

Thor holds 1 0 0% of the ad v anced Molyhil t ungsten p r oject in t he No rthe rn T e rr ito ry of Aust r alia, for w hich an updated feasibility study in August 2018(1) suggest ed attr a ctive retur ns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit (2).

Thor a lso holds 1 0 0% of t he Pilot Mountain tungst en p roject in Nevada U SA which has a JORC 20 12 Indicated and Inferred Res o u rces Estimate (3) on 2 of the 4 k nown deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.

Thor holds a 25% in ter est Aust r alian copper d evelopment company EnviroCopper Limited (with rights to increase its interest to 30%). EnviroCopper Limited holds:

-- r ights to earn up to a 7 5% interest in the mineral rights and claims over the resource on the p o r tion of the historic Kapunda copper mi ne in South Aust r alia recover able by way of in situ recove ry; and

-- rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate for several deposits.

Thor also holds a production royalty entitleme nt from t he S p ring Hill Gold project of :

-- A$5.70 p er ounce of gold p rod uced from the S p ring Hill te neme nts whe re the gold produced is sold for up to A$ 1,5 00 per ounce; and

-- A$13.30 p er ounce of gold p roduced from the S p ring Hill tenements where the gold p roduced is sold for amounts over A $1 , 5 00 per ounce.

N ot e s

   (1) Refer  ASX and AIM an n o u ncement  of  23   August   2 0 18 
   (2) Refer  ASX and AIM an n o u ncements  of  26   November   2 0 18 and 29 January 2020

(3) Refer AIM ann o un cement of 13 December 2018 and ASX ann o unce ment of 14 December 2018

Refer AIM a nn o un c e m e nt of 10 F e b r u ary 2 0 18 a nd ASX ann o uncement of 12 February 2 0 18

   Refer  ASX and AIM an n o u ncement  of  15 August   2 0 19

Refer AIM a nn o un c e m e nt of 26 F e b r u ary 2 0 16 a nd ASX ann o uncement of 29 February 2 0 16

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April 02, 2020 04:15 ET (08:15 GMT)

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