Drilling starts at Molyhil Tungsten Project

The directors of Thor Energy PLC ("Thor") ("The Company") (AIM, ASX: THR, OTCQB: THORF) are pleased to advise that Investigator Resources Limited ("IVR") (ASX: IVR) has commenced drilling at the Company's Molyhil tungsten project.

Thor holds 100% of the Molyhil project, in the Northern Territory of Australia. On 24 November 2022, Thor executed an AUD$8m Farm-in and Funding Agreement with IVR to accelerate exploration at the Molyhil Project.

Further information has been provided in an ASX Announcement made by IVR on 8 November 2023, which may be accessed as follows:

The Board of Thor Energy PLC has approved this announcement and authorised its release.

The information in this report that relates to exploration results is based on information compiled by Nicole Galloway Warland, who holds a BSc Applied geology (HONS) and who is a Member of The Australian Institute of Geoscientists. Ms Galloway Warland is an employee of Thor Energy PLC. She has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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'. Nicole Galloway Warland consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

Notes

4 https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/

6 https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf