Thor Mining PLC Warrants issued under ESOP (5727A)

TIDMTHR

RNS Number : 5727A

Thor Mining PLC

30 September 2020

30 September 2020

THOR MINING PLC

WARRANTS ISSUED UNDER AN EMPLOYEE SHARE OPTION PLAN

The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) advise of the issue of 7,500,000 unlisted warrants to employees of the Company under its shareholder approved Employee Share Option Plan.

The warrants expire on 28 September 2023 and have an exercise price of A$0.026.

Enquiries:

 
Mick Billing        +61 (8) 7324     Thor Mining PLC        Executive Chairman 
                      1935 
 Ray Ridge           +61 (8) 7324     Thor Mining PLC        CFO/Company 
                      1935                                    Secretary 
 Samantha Harrison/  [phone]  Grant Thornton UK LLP  Nominated Adviser 
  Niall McDonald      5100 
 Nick Emerson        +44 (0) 1483     SI Capital Ltd         Joint Broker 
                      413 500 
 

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.

About Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR) 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 August 2018(1) suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit(2).

Thor is also acquiring up to a 30% interest 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 in South Australia recoverable by way of in situ recovery , and also holds rights to earn a 75% interest in portion of the Moonta Copper project also in South Australia, and is considered amenable to recovery by way of in situ recovery .

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate(3) on 2 of the 4 known 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.

The Company also has exciting gold interests at Ragged Range in the Pilbara region of Western Australia.

Notes

(1) Refer ASX and AIM announcement of 23 August 2018

(2) Refer ASX and AIM announcement of 26 November 2018

(3) Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018

Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018

Refer ASX and AIM announcement of 15 August 2019

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September 30, 2020 03:30 ET (07:30 GMT)