Thor Explorations Ltd. · TSXV:THX
Thor Explorations — Investor Presentation (April 2025)
22 slides from Thor Explorations's investor presentation, April 2025
Slide 1: West African Gold Producer Investor Presentation
WEST AFRICAN GOLD PRODUCER INVESTOR PRESENTATION APRIL 2025 AIM: THX.L TSXV: THX.V
Slide 2: Disclaimer
DISCLAIMER Certain statements contained in this presentation, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, but are n
Slide 3: Overview
OVERVIEW • Advancing Projects in 3 West African Countries • Positioned for organic growth through exploration • Shareholder value underpinned by high margin gold production Segilola Gold Project, Nigeria Cote d’Ivoire • DFS open pit reserve of 518,000@ 4.2g/tAu • Acquisition of prospective Birimian
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Capitilisation 12 Month Share Price Performance Basic Shares Outstanding 664,334,710 Options & Warrants Outstanding 0 Fully Diluted Shares Outstanding 664,334,710 Share Price (TSX.V: THX) CAD 0.62 Share Price (AIM: THX) GBP 0.35 Basic Market Cap CAD 412.48m Top Institutional Inves
Slide 5: Introduction
INTRODUCTION
Slide 6: Segilola Gold Mine – Key 2024 Highlights
SEGILOLA GOLD MINE – KEY 2024 HIGHLIGHTS Strong financial performance • FY 2024 gold poured of 85,057 ounces (“oz”) • 84,965 oz of Gold Sales for the year • Full repayment of the senior debt facility with Africa Finance Corporation • FY 2024 revenue of US$193.1 million (FY 2023: US$141.2 million) •
Slide 7: 2024 Production Summary
2024 PRODUCTION SUMMARY Mining Units Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Total Mined Tonnes 2,874,533 3,781,881 4,024,002 4,710,220 4,939,647 Waste Mined Tonnes 2,602,158 3,398,182 3,668,487 4,171,122 4,473,752 Ore Mined Tonnes 272,375 383,699 355,515 491,935 465,895 Grade g/t Au 2.42 2.30 2.01
Slide 8: 2024 Financial Summary
2024 FINANCIAL SUMMARY Three months period ended Year ended December September June March December December December 31, 2024 30, 2024 30, 2024 31, 2024 31, 2023 31, 2024 31, 2023 Operating Gold Sold Au 25,790 18,167 23,588 17,420 11,930 84,965 73,356 Average $/oz 2,414 2,328 2,309 2,033 1,927 2,288
Slide 9: Social Responsibility & Community Development
SOCIAL RESPONSIBILITY & COMMUNITY DEVELOPMENT 98% - Nigerian $138k Land and Crop Nationals Compensation 2024 Zero Chemical spills 37% - Recruited from $7m 2020-2024 the local communities 2% expats 40 Completed 0.019ml per Oz Highlights our trust community projects in Water Intensity and development
Slide 10: Segilola Underground Exploration
SEGILOLA UNDERGROUND EXPLORATION Initial 12-hole drilling program was designed to test continuation of mineralization Initial program and proof of concept successful in testing mineralisation High grade mineralisation intersected over 140m below designed final pit profile Optimisation studies of pit
Slide 11: Nigeria Regional Exploration
NIGERIA REGIONAL EXPLORATION • Several areas for follow up exploration identified • Increased exploration budget for 2025 • Purchase of own drilling rigs to enable flexible, low cost and faster exploration • New area of interest assembled based on extensive gold anomalism with exploration ongoing ww
Slide 12: Senegal – Douta Project
SENEGAL – DOUTA PROJECT Strategic land-holding in prolific gold region – Kéniéba Inlier • Two gold exploration permits, E02038 and E03709 Kéniéba Inlier • >40Moz gold endowment Sadiola and Loulo deposits >10Moz each Strategic land-holding in Kéniéba Inlier • Mining leases straddles the major structu
Slide 13: Douta Project
DOUTA PROJECT Global resource of 1,780,000 ounces 874,900oz @ 1.3g/tAu Indicated • Work streams in support of a Preliminary Feasibility Study (“PFS”) advanced • Further drilling within Makosa East and Makosa North pit shells ongoing in order to convert additional inferred material to be included in
Slide 14: Baraka Discovery
BARAKA 3 DISCOVERY Wide, shallow high-grade discovery • Identification of 3km long gold bearing structure confirmed by mapping, soil geochemistry and rock chip sampling • Rock chip results include 9.46g/t, 6.91g/t, 3.67g/t, and 2.78g/t • Two discovery holes been drilled: o Hole DWRC134: 17m @ 1.26g/
Slide 15: Côte d'Ivoire Portfolio
CÔTE D’IVOIRE PORTFOLIO Key Highlights • Low-cost entry into Cote D’Ivoire • Acquisition of prospective Birimian Greenstone exploration tenure • The country hosts over 30% of West Africa’s greenstone belts • Underexplored emerging gold mining jurisdiction • Modern transparent mining code • Several w
Slide 16: Côte d'Ivoire - Guitry Project
CÔTE D’IVOIRE - GUITRY PROJECT Advanced Exploration Project acquired ▪ Large gold system anomaly highlighted from Endeavour Mining Corporation (8.5km long, 4km width area) including 4.5km² soil anomaly >50ppb Au. ▪ Three main mineralisation clusters • Over 11,000 metres of historical drilling 8.5km
Slide 17: Côte d'Ivoire - Marahui Project
CÔTE D’IVOIRE - MARAHUI PROJECT • 250 sq. km permit • Activities commenced in Q4 2024 • Detailed mapping and a permit-wide soil geochemical sampling program undertaken to define drill targets in a previously unexplored portion of Birimian Greenstone 4 km 4km 3 www.thorexpl.com | AIM: THX.L | TSXV: T
Slide 18: FY 2025 Outlook & Catalysts
FY 2025 OUTLOOK & CATALYSTS • Production guidance of 85,000-95,000 oz for 2025 with an AISC guidance of US$ $800 - $1,000 per oz • Increased Exploration expenditure of • US$7.5 million - $10 million in Nigeria; and • US$5 million - $7.5 million across West Africa for 2025 • Advance exploration progr
Slide 19: www.thorexpl.com
FOR ADDITIONAL INFORMATION, PLEASE VISIT: WWW.THOREXPL.COM E-mail enquiries Info@thorexpl.com Ibu Lawson - Business Development and Investor Relations Manager Ibu.lawson@thorexpl.com Ibu Lawson - VP Corporate Development Thor Explorations Ltd. +1 (778) 373-0102 info@thorexpl.com 4th Floor 32 Wigmore
Slide 20: Appendix
APPENDIX
Slide 21: Board of Directors
BOARD OF DIRECTORS Segun Lawson Adrian Coates Chief Kayode Aderinokun Folorunso “Folli” Adeoye Dr. Julian Barnes Collin Ellison, BSc, CEng Franklin Edochie Chief Executive Officer, Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-
Slide 22: Executive Management
EXECUTIVE MANAGEMENT Segun Lawson James Philip Chris Omo-Osagie Alfred Gillman Louise Porteus Ettienne Du Plessis Chief Executive Officer, Chief Operations Officer Chief Financial Officer Group Exploration Environmental and Social General Manager President and Director Manager Manager James is a hig
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