INVESTOR UPDATE

Quarterly Activities and Cash Flow Report (March 2024)

WATCH: MD Nicole Galloway Warland runs through the highlights from latest quarterly report in this 12minute interview with Stockbox – including the upcoming exploration plans for it’s US uranium projects.

READ THE FULL QUARTERLY REPORT

Managing Directors comments:

High-grade uranium and vanadium assay results continue to drive Thor’s resource drilling at our Groundhog, Rim Rock prospects within the Wedding Bell Project. We were particularly pleased to confirm high-grade uranium up to 0.63% and vanadium up to 3.0% at Groundhog, during the period.

Uranium spot price remains at its high levels, with continued long-term demand and persistent threats to near-term supply. These positive fundamentals are supported by US producers reviving their deposits, including the reopening of Energy Fuels La Sal Operation in the Uravan Mineral Belt. Given the close proximity to Thor’s assets, it validates the Company’s continued optimism in its green energy metals portfolio.

We are also progressing well with our copper projects in Australia. We recently conducted 3D ANT modelling at our Alford East Project, which provided significant lithological and structural insights. Our exciting new 3D model now indicates key observations such as that the highest-grade copper oxide mineralisation is commonly found in metasediments (pelitic and carbonaceous sediments) and intermediate intrusives. This has allowed us to refine our targeting strategy and focus on the areas with potential high-grade REE and oxide copper-gold mineralisation.

We are delighted that IVR has completed their Stage 1 Earn-in Commitment by funding A$1m on exploration activities at the Molyhil Project and look forward to working with them as we move to the next joint venture phase.

Looking ahead, we are preparing for resource drilling at our uranium and vanadium assets in our US portfolio, pump testing for ISR assessment in our Alford Copper Belt portfolio, with ECL continuing copper- gold recoveries from SELT at Kapunda.

The Company continues its primary focus on the uranium potential at Wedding Bell, Radium Mountain and Vanadium King, as well as always continuing to identify new opportunities to add to the Thor portfolio.

READ THE FULL QUARTERLY REPORT

LATEST

NEWS

RIU – Investor Presentation (May 2024)

Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation titled “Uranium Focus”, prepared by MD Nicole Galloway Warland, for the RIU Conference in Sydney.

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