Nicole Galloway Warland, Managing Director of Thor Energy,...

Nicole Galloway Warland, Managing Director of Thor Energy, commented:“The targeted 12-hole diamond drilling program completed by IVR in December 2023, along with QAQCvalidation of historic data, has provided a strong level of increased resource confidence, lifting tonnageand increased tungsten grade to the higher Measured Resource category. This is a positive result forthe Project, and along with strong tungsten and molybdenum prices, it will be valuable for the scopingstudy assessment to be undertaken by IVR early in the second half of 2024.Based on the HoA, IVR is now entitled to a 25% interest in the Project and surrounding tenure, as suchThor is looking forward to working with IVR to complete all documentation to effect the transfer andform a JV.”