The directors of Thor Mining Plc provided an update on drilling at the Company's 100% owned Ragged Range Project, located in the Eastern Pilbara, Western Australia. Project highlights: Due to mechanical issues, only 50% of the planned maiden Reverse Circulation (RC) drilling program completed at the Sterling prospect; Significant sulphides (pyrite, chalcopyrite, sphalerite), quartz veining and sericite-pyrite-fuchsite alteration identified, characteristic of gold mineralisation in the East Pilbara Craton; Low grade gold in 3m composites and pathfinder elements will assist to vector in on stream and soil gold source; Thor is targeting Archaean structurally controlled lode gold mineralisation hosted in basaltic and ultramafic rocks of the Warrawoona Group, within the 100% held Kelly greenstone belt; Thor plans to complete the planned drilling program at the Sterling prospect whilst undertaking further geophysics, mapping and geochemical sampling over additional gold, nickel and lithium targets in the project area. RC Drilling Program: 41 shallow (50-96m) RC drillholes totalling 2,155m were completed at the Sterling Prospect.

Drill holes were designed to angle-overlap, orientated at -60 degrees toward the west, near perpendicular to the structural controls of the dominant, faulted contact between the Euro Basalt and the Dalton Suite ultramafics. 3m composite samples returned no significant gold intercepts (max of 0.1g/t Au), though intersections of strong broad zones of quartz veining, sericite, silica alteration, sulphides and fuchsite, characteristic of gold mineralisation in the Pilbara, are positive indicators of close proximity to the gold source (Photo Plate 1). In many of the drill holes close to the fault contact, sericite and silica alteration of the Euro Basalt is strong (Photo Plate 2).

This alteration style forms the distal alteration halo around many gold deposits. Sulphide veining with chalcopyrite, pyrite and sphalerite was observed in drill chips. Higher grade gold is associated with sulphide mineralisation at Calidus Resources' Warrawoona Project.

This maiden RC program was designed to test eight strong gold anomalies at Sterling Central and Sterling South prospects, defined from soil and stream sediment sampling programs. Due to numerous mechanical drilling issues, only half of the proposed drilling program was completed, with 50% of the anomalies remaining untested.