Thor Mining : 22/05/2017 Tungsten Resources Increase of 55%

Company Announcements Office, ASX Securities Limited, 20, Bridge Street, Sydney, N.S.W. 2000 TUNGSTEN RESOURCE INCREASE OF 55% - PILOT MOUNTAIN , NEVADA USA

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) is pleased to announce a 55% tungsten resource inventory increase at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA (figure 1), representing a maiden resource estimate for the Garnet prospect, and an increase in the resource estimate at Desert Scheelite.

Following drilling in March this year, an inferred resource estimate for the Garnet deposit has beencompleted comprising 1.83 million tonnes (Mt) at an average grade of 0.36% WO3(usingcut-off grade of 1,000 ppm WO3).

Further, a re-evaluation of the Desert Scheelite deposit has resulted in an upgrading of the resource estimate to 9.9 million tonnes at an average grade of 0.26% WO₃, 19.39 gram/tonne Silver (Ag),and 0.14% copper (Cu) (using cut-off grade of 1,500 ppm WO3,previously2,000ppm).

Thetotal Pilot Mountain resource inventory now stands at 11.73 Million tonnes at 0.28% WO3(Table 1).

Resource			WO3		Ag		Cu
MT			Grade %	Contained metal (t)	Grade g/t	Contained metal (t)	Grade %	Contained metal (t)
Garnet	Indicated	-	-
Inferred	1.83	0.36	6,590
Sub Total	1.83	0.36	6,590
Desert Scheelite	Indicated	8.41	0.27	22,700	21.3	179	0.14	11,800
Inferred	1.49	0.23	3,430	9.07	13	0.17	2,500
Sub Total	9.90	0.26	26,130	19.39	192	0.14	14,300
Summary	Indicated	8.41	0.27	22,690
Inferred	3.32	0.30	10,020
Pilot Mountain Total		11.73	0.28	32,720

Table 1: Pilot Mountain Resource Summary 2017 (JORC 2012) - 100% owned by Thor Mining Plc

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 Alastair Middleton

Key Projects:

• Tungsten

  Molyhil NT

  Pilot Mountain USA

  Note:

  • All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.

Mr Mick Billing, Executive Chairman of Thor: "This is a significant step forward for the Pilot Mountain project. The resource inventory still has considerable growth potential via the GunMetal and Good Hope deposits, as well as more potential upside at Desert Scheelite and Garnet"

"Importantly, the grade of mineralisation at Pilot Mountain is relatively high and this underpins the robust nature of the project."

Garnet Deposit

Figure 1. Pilot Mountain Location

Six holes were drilled to validate historic drill data from Union Carbide Corp drilling undertaken in the 1970's

(Figure 2). Significant intercepts include:

Hole 17GRRC01 3.8m @ 0.31%WO3and 2.2%Zn from4.6m

3.8m @ 0.72%WO3and 1.6%Zn from 45.0m 5.3m @ 1.0%WO3and 0.9%Zn from83.1m

Hole 17GRRC06 6.1m @ 0.24%WO3from16.5m

14.5m @ 0.31%WO3, 0.3%Zn from25.9m

Figure 2: Map of the Garnet and Gunmetal prospect area. The 2017 Garnet drill holes tested less than a third of the total historic drill data over the entire Garnet and Gunmetal area.

Zinc grades from the 2017 drilling appear sufficient to produce a saleable bi-product to the Scheelite stream. Assays for zinc are not available in the historic database and the 2017 drilling zinc data alone is insufficient to estimate an inferred zinc resource. On the basis of the 2017 drill data, the following zinc exploration target*has been derived for the Garnet deposit:

1.4 - 1.8 Mt at 0.5 to 1.0% Zinc (7,000 - 18,000 tonnes contained Zn metal)

Further opportunities for the growth of the Garnet resource are being evaluated for follow up drilling.

*Exploration Targets are conceptual in nature and there is insufficient data to define a Mineral Resource under the JORC Code. It is uncertain if further exploration will result in the determination of a Mineral Resource.

Desert Scheelite Deposit

Following a review of the Desert Scheelite deposit and a comparison with the Garnet deposit where a WO₃ cut-off grade of 1,000ppm was applied, it was decided to amend the Desert Scheelite resource cut- off grade to 1,500ppm WO₃, from the previously applied 2,000ppm WO₃.

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 the Desert Scheelite and Garnet JORC Resource Estimates is based on information compiled by Mr. Stephen Godfrey, who is a Member of the Australian Institute of Geoscientists and Australasian Institute of Mining & Metallurgy and who has had sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activities which are being undertaken 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' . Mr. Godfrey is an employee of Resource Evaluation Services and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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