Thor Energy Plc · LSE:THR

Thor Energy — Thor Mining — Investor Presentation (December 2020)

23 slides from Thor Energy's investor presentation, Dec 9, 2020

1. Slide 1: Investor Presentation ASX announcement cover

   ASX Code: “THR” 9 Dec 2020 THOR MINING PLC Company Announcements Office For personal use only Registered Numbers: ASX Securities Limited, United Kingdom 05276 414 Australia 121 117 673 20, Bridge Street, Sydney, N.S.W. 2000 Registered Office: 58 Galway Avenue Investor Presentation MARLESTON, SA, 503

2. Slide 2: Investor Presentation December 2020

   For personal use only AIM/ASX: THR INVESTOR PRESENTATION DECEMBER 2020

3. Slide 3: Disclaimer & Legal Notice

   DISCLAIMER & LEGAL NOTICE For personal use only 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

4. Slide 4: Corporate Snapshot

   CORPORATE SNAPSHOT For personal use only CAPITAL STRUCTURE SHARE PRICE PERFORMANCE AIM/ASX Code THR Market Cap UK£15.0M Cash (Sep 2020) UK£1.2M Debt NIL Directors Interest 3.7% 3 AIM/ASX: THR

5. Slide 5: Board & Management

   BOARD & MANAGEMENT For personal use only Ray Ridge Mick Billing Mark Potter Mark McGeough Nicole Galloway Warland CFO CEO & Chairman Non-Executive Director Non-Executive Director Exploration Manager Joint Company Secretary Accounting Finance Geologist Geologist Accounting Career includes experience

6. Slide 6: Project Portfolio

   PROJECT PORTFOLIO For personal use only BASE & PRECIOUS METALS SPECIALITY & ENERGY METALS Copper (Australia) Uranium and Vanadium (USA)  Alford East (South Australia)  Colorado & Utah (USA)  Joint Venture farm-in to acquire an 80% interest in an  100% interest in mining claims over areas of high

7. Slide 7: Copper in South Australia

   COPPER IN SOUTH AUSTRALIA For personal use only LOCATION  Alford East – JV Farmin earning 80% direct interest  EnviroCopper Limited (ECL) – Thor hold 30% Equity Interest  Kapunda – ECL earning a 75% interest  Alford West – ECL earning a 75% interest GEOLOGY  Substantial near surface oxidised co

8. Slide 8: Alford East Copper – Thor Earning 80%

   ALFORD EAST COPPER – THOR EARNING 80% LOCATION For personal use only  Approx 150km north-west of Adelaide, South Australia  Adjacent EnviroCopper Ltd Alford West project GEOLOGY  Substantial near surface oxidised copper mineralisation, transitioning at depth to readily leachable chalcocite then p

9. Slide 9: EnviroCopper Ltd – Thor Interest 30%

   ENVIROCOPPER LTD – THOR INTEREST 30% For personal use only LOCATION  Kapunda - 90km north of city of Adelaide  Alford West - 150km north-west of Adelaide GEOLOGY  Substantial near surface oxidised copper mineralisation, transitioning at depth to readily leachable chalcocite then primary chalcopyr

10. Slide 10: Enviro Copper Resources & Exploration Targets

    ENVIRO COPPER RESOURCES & EXPLORATION TARGETS GROWING COPPER RESOURCES – ALSO WITH GOLD POTENTIAL For personal use only KAPUNDA COPPER RESOURCE ESTIMATE (12 FEB 2018) GOLD POTENTIAL RESOURCE COPPER MINERALISATION CLASSIFICATION MT GRADE % CU METAL (T)  Substantial evidence of gold in ~⅓ of historic

11. Slide 11: In-Situ Recovery (ISR) Recovery Model

    IN-SITU RECOVERY (ISR) RECOVERY MODEL For personal use only  Low cost / low environmental impact metal production  A chemical process rather than a high-cost mining operation (No large pit / no crushing or grinding / no waste dumps etc)  Substantial Australian government & research body funding g

12. Slide 12: Ragged Range Gold – 100% Thor

    RAGGED RANGE GOLD – 100% THOR For personal use only LOCATION  Pilbara Region Western Australia  Initial zone of Interest approx 40km west of Nullagine GEOLOGY  Greenstone & Granite of Archean Pilbara Craton  Proximity to large scale gold deposits in similar geological setting  Thrust faulted ma

13. Slide 13: Ragged Range Gold Strike Potential

    RAGGED RANGE GOLD STRIKE POTENTIAL For personal use only 13 KILOMETRES OF STRIKE POTENTIAL  High tenor stream sediment samples draining SW-NE from interpreted Ultramafic /Mafic thrust faulted contact  Anomalous Gold reported in pan, in BLEG samples and -2mm samples, assayed by aqua regia – 2.2g/t

14. Slide 14: Ragged Range Magnetics Survey

    RAGGED RANGE MAGNETICS SURVEY For personal use only MAGNETIC INTERPRETATION CONTINUING  Close spaced airborne magnetics survey was flown by MAGSPEC Airborne Surveys Pty Ltd over E46/1190, E46/1262 & E46/1355 (ASX:THR 6 October 2020)  High resolution airborne magnetics data aims to define structura

15. Slide 15: US Uranium & Vanadium – 100%

    US URANIUM & VANADIUM – 100% For personal use only LOCATION  Located SE Utah & SW Colorado USA – Uravan Mineral Belt  400km south-west of city of Denver GEOLOGY  Sandstone filled paleochannels hosting uranium & vanadium  Field sampling returned high grade uranium (up to 1.25% U3O8) and vanadium

16. Slide 16: Molyhil Tungsten Project – 100% Thor

    MOLYHIL TUNGSTEN PROJECT – 100% THOR LOCATION For personal use only  Northern Territory, Australia – 320km east of Alice Springs GEOLOGY  Two adjacent magnetite skarn bodies with economic mineralization of scheelite and molybdenite HISTORY  2018 DFS demonstrated profitable production with low ope

17. Slide 17: Molyhil High Grade Resource & Reserves

    MOLYHIL HIGH GRADE RESOURCE & RESERVES Summary of Molyhil Mineral Resource Estimate (Reported 10 Oct 2019) For personal use only HIGH GRADE RESOURCE WO3 Mo Cu Fe RESOURCE  Molyhil is one of the higher-grade open pit tungsten Mt Grade % tonnes Grade % tonnes Grade % tonnes Grade % projects in the We

18. Slide 18: Molyhil Underground & Bonya Satellite Deposits

    MOLYHIL UNDERGROUND & BONYA SATELLITE DEPOSITS Molyhil For personal use only TUNGSTEN RESOURCES ESTIMATES - 29th Jan 2020 Oxidation Tonnes WO3 Cu ‘000 % Tonnes % Tonnes Oxide 50 0.26 120 0.14 60 Inferred Fresh 690 0.21 1,410 0.08 550 Total 740 0.21 1,530 0.09 610 COPPER RESOURCE ESTIMATE(26th NOV 20

19. Slide 19: Pilot Mountain – 100% Thor

    PILOT MOUNTAIN – 100% THOR For personal use only LOCATION  Located IN Nevada, USA  250km south-east of Reno GEOLOGY  Tungsten-copper-zinc-silver skarn style mineralization at four primary locations: – Desert Scheelite, garnet, gunmetal & Good hope deposits HISTORY  Explored by Union Carbide Corp

20. Slide 20: Pilot Mountain Resource Estimate

    PILOT MOUNTAIN RESOURCE ESTIMATE The largest Reported Tungsten Resource in USA Pilot Mountain Resource Estimate (Reported 13 December 2018) For personal use only Resource WO3 Ag Cu Zn Mt Grade % Contained Grade % Contained Grade % Contained Grade % Contained Metal Metal (t) Metal (t) Metal (t) (t) I

21. Slide 21: Next Step Exploration Activities

    NEXT STEP EXPLORATION ACTIVITIES For personal use only Focussed on copper resources, and gold discoveries…. Alford-East Copper Project, SA  JORC Exploration Target in Progress  Resource work in early 2021 Ragged Range Gold (+copper) Project located in the Pilbara Craton WA  Four targets area warr

22. Slide 22: Investment Highlights

    INVESTMENT HIGHLIGHTS For personal use only  Focussed on copper resources, and gold discoveries….  Multiple projects with large scale potential in first class jurisdictions  Experienced management and geological team with track record of success  Cash in bank  THOR is Leveraged for Exploration

23. Slide 23: Contact Details

    For personal use only CONTACT DETAILS • Thor Mining PLC • 58 Galway Ave, Marleston SA 5033 • P: +61 8 7324 1935 • F:+61 8 8351 5169 • E: corporate@thormining.com • www.thormining.com • Twitter: @ThorMining AIM/ASX: THR 22

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