Thor Mining : 08/03/2017 Drilling update Pilot Mountain

Company Announcements Office, ASX Securities Limited, 20, Bridge Street, Sydney, N.S.W. 2000 51 METRES OF MINERALISATION INTERSECTED AT PILOT MOUNTAIN - NEVADA

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to advise the intersection of 51 metres of mineralisation from the second drill hole designed to test for extensions to the Desert Scheelite deposit at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA (Figure 1).

Highlights:

• 51 metres of scheelite mineralisation including 9 metres of visible sulphide mineralisation, including visible chalcopyrite, intersected 25 metres to the east and approximately 50 metres closer to surface from high grade Desert Scheelite intersection from DSDD015;

• Drill hole designed to follow up the 2012 high grade intersection at DSDD015 (17.5m @ 5.7% Cu equivalent) which comprised; 13.9 metres (m) @ 0.89% tungsten trioxide (WO3) from 198m, and 17.5m @1.80% copper and 2.2% zinc from 196m (refer ASXannouncements 2 March 2017, and 10 June 2014) (Figure 2);

• Drill hole sample assays expected within several weeks;

• Following this much better than expected result, a previously unplanned third hold hole has commenced targeting a further 25 metre extension of the Desert Scheelite deposit;

• The first hole at Desert Scheelite terminated without intersecting any visible mineralisation, due to what appears to be a fault displacement above the targeted zone of mineralisation.

Mr Mick Billing, Executive Chairman of Thor: "The objective of testing for potential extension of high grade mineralisation at the eastern end of the Desert Scheelite resource appears to have achieved, and exceeded that aim. While we await assays to have an indication of the grade of mineralisation, and estimation of the true thickness, extension of the zone by 25 metres with such an apparent thickening, is a very exciting development for the project."

"While the initial planning for this program at Desert Scheelite included plans for only two holes, we are sufficiently encouraged by this result to immediately conduct a third drill hole to test for further extensions".

THOR MINING PLC

Registered Numbers: United Kingdom 05 276 414

Australia 121 117 673

Registered Office: 58 Galway Avenue

MARLESTON, SA, 5035

Australia

Ph: [phone]

Fx: [phone]

Email:[e-mail]

Website: www.thormining.com

@ThorMining

Enquiries: Mick Billing

Executive Chairman Thor Mining PLC

[phone]

Nominated Advisor Colin Aaronson Grant Thornton

[phone]

ASX Listings: Shares: THR

AIM Listings: Shares: THR

Directors: Michael Billing David Thomas Gervaise Heddle Paul Johnson

Key Projects:

• Tungsten

Molyhil NT

Pilot Mountain USA

Figure 1: Pilot Mountain location map

The Desert Scheelite deposit currently comprises 100% of the Pilot Mountain Resource estimate of 6.7Mt. The objective of the two holes programmed at this deposit is to test for extensions to the high grade mineralisation intersected in the last hole drilled into this deposit in 2012.

Table 1: Pilot Mountain Resource Summary 2014 (JORC 2012, announced 10 June 2014. 100% owned by Thor Mining Plc

Resource	WO3		Ag		Cu
Desert Scheelite	Tonnes	Grade %	Contained metal (t)	Grade g/t	Contained metal (t)	Grade %	Contained metal (t)
Indicated	6,090,000	0.31	18,900	24.2	150	0.16	10,000
Inferred	700,000	0.30	2,100	9.1	10	0.24	2,000
Total	6,790,000	0.31	21,000	22.8	160	0.17	12,000

The Company confirms that, until assay results are available for the current drilling program, it is not aware of any new information or data that materially affects the information included in the above table, and, that all material assumptions and technical parameters underpinning these estimates continue to apply and have not materially changed.

The two initially planned drill holes targeting Desert Scheelite mineralisation in the vicinity of previously drilled DSDD15 have now been completed.

The first of these (Hole 1) was designed to test for mineralisation 100 metres vertically above DSDD15. This hole failed to intersect mineralisation due to what appears to be fault displacement.

Hole 2 targeted mineralisation 75 metres above and 25 metres to the east of DSDD15 and intersected 51 metres of visible scheelite mineralisation from 142 metres down hole including 9 metres of higher sulphide style mineralisation, including visible chalcopyrite from 172 metres down hole. While this very encouraging drill intersection appears to be comparable with the intersection of DSDD15, assay results are required to confirm actual metal content.

Intersections quoted in this hole, and also for previous drilling results for DSDD15, are down-hole measurements only, as at this stage there is insufficient data to adequately assess true width of mineralisation. The quantity of data available is generally not sufficient to allow any reasonable estimates of Mineral Resources in accordance with the JORC code. We anticipate being in a position to update the Mineral Resource estimate following the receipt of assay results expected in approximately four weeks.

A third hole has now commenced targeting mineralisation a further 25 metres to the east of this second hole, following which drilling will commence on the Garnet prospect.

Figure 2: Desert Scheelite drill intersections viewed in long section looking northwards. Proposed drill targets and hole paths

shown at the eastern (right hand) end.

Table 2: Drill hole orientation summary

Hole Id	Alias	Easting NAD83 zone 11	Northing NAD83 zone 11	Hole collar dip*	Hole collar Azimuth*	Final Depth (m)
17DS-RC01	Hole 1	424 458	4 248 320	-60	179	142
17DS-RC02	Hole 2	424 460	4 248 320	-75	150	210
* Down hole surveys of these holes have shown dip and azimuth variation to be less than 5 degrees.

For further information, please contact:

THOR MINING PLC

Mick Billing Executive Chairman

[phone]

Competent Person's Report

The information in this report that relates to exploration results and exploration targets 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 Pilot Mountain

Thor's Pilot Mountain Project, acquired in 2014, is located approximately 200 kilometres south of the city of Reno and 20 kilometres east of the town of Mina located on US Highway 95.

The Pilot Mountain Project comprises four tungsten deposits: Desert Scheelite, Gunmetal, Garnet and Good Hope. All are in close proximity (~three kilometres) to each other and have been subjected to small-scale mining activities at various times during the 20th century. Union Carbide acquired the project in 1978, for US$7.0 million (estimated at US$26million - US$40million in 2017 dollars), and conducted detailed exploration and feasibility activities until, following a global downturn in the tungsten industry in the 1980s, they suspended further work.

Figure 3: Drilling at Desert Scheelite