Thor Mining : Notification of Major Interest in Shares

ASX Code: "THR"

14 October 2020

THOR MINING PLC

Registered Numbers:

United Kingdom 05276 414

Australia 121 117 673

Registered Office:

58 Galway Avenue

MARLESTON, SA, 5035

Australia

Ph: [phone]

Fx: [phone]

Email: [e-mail]

Website:

www.thormining.com

Twitter @ThorMining

Enquiries:

Mick BillingExecutive Chairman Thor Mining PLC [phone]

Nominated Advisor Colin Aaronson Grant Thornton

[phone]

AIM & ASX Listings:

Shares: THR

Directors:

Michael Billing

Mark Potter

Mark McGeough

Richard Bradey

Key Projects:

• Tungsten Molyhil NT
  Pilot Mountain USA
• Copper Kapunda SA Moonta SA

NOTIFICATION OF MAJOR INTEREST IN SHARES

The Directors of Thor Mining PLC (AIM, ASX THR) ("Thor" or "Company") wish to advise of the receipt of a notification of a change in the holding of a substantial shareholder (Form TR-1, attached). The Form TR-1 has been released in the UK, under the AIM rules of the London Stock Exchange and Thor makes this equivalent announcement to the ASX.

Authorised for release by Ray Ridge, Company Secretary

For further information please contact

THOR MINING PLC

Ray Ridge, Company Secretary [phone]

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.

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 2018¹ 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 deposit².

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 recovery⁴, 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 recovery⁵.

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ 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.

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ASX Code: "THR"

14 October 2020

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

• Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018 ⁴ 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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Commercial in confidence

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are at-			Thor Mining plc
tachedii:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights							X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name				Paul and Michelle Johnson
City and country of registered office (if applicable)
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or		8 October 2020
reachedvi:
6. Date on which issuer notified (DD/MM/YYYY):		12 October 2020
7. Total positions of person(s) subject to the notification obligation
	% of voting rights at-	% of voting rights			Total number of
	through financial instru-	Total of both in %
	tached to shares (to-		voting rights of is-
		ments	(8.A + 8.B)
	tal of 8. A)			suervii
	(total of 8.B 1 + 8.B 2)
Resulting situation
on the date on which	3.92%				3.92%		1,439,371,467
threshold was
crossed or reached
Position of previous	4.81%				4.81%
notification (if
applicable)
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Commercial in confidence

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type of	Number of voting rightsix	% of voting rights
shares
Direct	Indirect	Direct	Indirect
ISIN code (if possible)
(Art 9 of Directive	(Art 10 of Directive	(Art 9 of Directive	(Art 10 of Directive
	2004/109/EC) (DTR5.1)	2004/109/EC)	2004/109/EC) (DTR5.1)	2004/109/EC)
		(DTR5.2.1)		(DTR5.2.1)
GB00BD0NBV71
Ordinary Shares	56,432,307		3.92%

SUBTOTAL 8. A

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

			Number of voting rights
Type of financial in-	Expiration	Exercise/	that may be acquired if	% of voting rights
strument	datex	Conversion Periodxi	the instrument is
			exercised/converted.

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial	Expiration	Exercise/	Physical or	Number of
Conversion Pe-	cash	% of voting rights
instrument	datex	voting rights
riod xi	settlementxii

SUBTOTAL 8.B.2

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Commercial in confidence

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not	X
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Fullchain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv
(please add additional rows as necessary)

% of voting rights if it

Namexvequals or is higher than the notifiable

threshold

• of voting rights through financial in- struments if it equals or is higher than the notifiable threshold

Total of both if it

equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Place of completion	Farnborough, UK
Date of completion	12 October 2020

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