Thor Mining : Investor Presentation - May 2019

May 2019

1

Disclaimer & Legal Notice

This document and all other information (whether in writing or otherwise) which may be made available is:

1. Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purpose.
2. Provided confidentially and only to assist the recipient to make independent enquiries.

The distribution or transmission of this document in certain jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves about and observe any such restrictions. Any such distribution or transmission could result in a violation of the law of such jurisdictions. Neither this document nor any copy of it may be taken to be distributed or transmitted into a jurisdiction which by law restricts or prohibits the same or to any national, citizen or resident thereof or any corporation, partnership or other entity created or organised under the laws thereof. The Company has not taken any action to permit the distribution or transmission of this document in any jurisdiction.

This document and all other information (whether in writing or otherwise) which may be made available or part thereof does not:

1. Contain all information that investors and their professional advisers would require to make an informed assessment of the following:
2. 1. assets and liabilities, financial position and performance, profits and losses and prospects of the Company; and
   2. rights and liabilities attaching to the Company's securities.
3. Constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any securities nor shall this document, or any part of it, or the fact of its distribution or transmission, form the basis of, or be relied on, in connection with any contract.
4. Constitute a promise or representation as to the future. Recipients must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company or the Company's securities.

No representation or warranty, express or implied, is made or given by or on behalf of the Company, its directors and officers or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and all other information (whether in writing or otherwise) which may be made available or part thereof or any further information supplied by or on behalf of the Company or in connection with the Company and no responsibility or liability is accepted for any such information or opinions.

All statements in this document (other than statements of historical fact) are forward looking statements that involve risks and uncertainties. The Company can give no assurance that statements will prove accurate and results and future events could differ materially.

The Company, its directors and officers or any other person:

1. Do not accept liability for any loss or damage suffered or incurred by any investor or any other person however caused (including negligence) relating in any way to this document, including (without limitation) the information contained in it, any errors or omissions however caused, or the investor or any other person placing any reliance on this document, its accuracy, completeness, currency or reliability.
2. Do not accept any responsibility to inform the recipient or any other person of any matter arising or coming to its notice which may affect any matter referred to in this document.
3. To the maximum extent permitted by law, expressly disclaimed and excluded any liability of the Company, its directors and officers or any other person to the recipient or to any other person arising out of this document.

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.

AIM | ASX : THR

2

Corporate Snapshot

Thor Mining PLC

AIM / ASX Code	THR
Market Cap	UK£6.5M
Cash ‐ April 2019	UK£1.0M
Debt	NIL

Top Shareholders

Metal Tiger PLC	9.8%
Paul Johnson	5.7%
Directors & Management	5.5%

AIM | ASX : THR

3

Investment Case

High Value Commodities in Demand!

Tungsten	US$27,400/tonne*
	A strategic and supply constrained commodity
	‐ Global price outlook strong.
	‐ Unique properties ensure no substitutes
	‐ Tungsten Classified as a Critical Commodity by US Dept of the Interior

Molybdenum	US$27,000/tonne*
	New supply restrictions & demand growth
	‐ Global price up over past 2 years & appears sustained
Copper	US$6,000/tonne*
	Huge global market with high demand growth and constrained supply
	growth
	*Prices Effective May 2019
	AIM | ASX : THR 4

What is Tungsten?

Tungsten is the hardest metal of all!!

Features Hardest Known Metal

Very High Melting & Boiling Points

Highly Corrosion Resistant - Will Not Oxidise in Air

Uses	Diverse Commercial Industrial & Military Applications
	Wear Resistant Products used in Metalworking, Mining,
	Oil, & Construction
	Electrical & Electronic applications
	Some chemical applications

AIM | ASX : THR

5