molyhil grant of mining leases

RNS out 12 noon London:

'MOLYHIL - GRANT OF MINING LEASES

Dated: 28 May 2008

Thor Mining PLC (the "Company" or "Thor"), AIM, ASX: "THR" the specialist metals company
focused on advancing tungsten-molybdenum and
uranium projects in the Northern Territory of Australia, today announces that the three mining
leases required for the development of the
Company's 100%-owned Molyhil Tungsten-Molybdenum Project in the Northern Territory of
Australia ("Molyhil") have been granted.

The three granted mining leases, ML 23825, ML 24429 and ML 25721, cover a total area of
246ha. The initial focus of mining at Molyhil
will centre on the eastern half of ML 23825, with the areas covered by both ML 24429 and ML
25721 required for infrastructure purposes.

The grant of the three mining leases marks a further key milestone in the approvals
process for Molyhil, following the signing of a
native title mining agreement with the area's traditional owners in October 2007. The final
review of the Mine Management Plan ("MMP") by
the Department of Primary Industries, Fishing and Mining ("DPIFM") in the Northern Territory
has been completed and official approval is
expected following the granting of the mining leases.

Earlier this year Thor signed an off-take agreement with CITIC Australia Commodity Trading
Pty Ltd to take 100% of the Molybdenum and
Tungsten concentrates to be produced at Molyhil. Molyhil will produce a total of 4.9 million
pounds of molybdenum metal and 700,000mtu's of
tungsten over an expected 5.7 year mine life. Both metals are experiencing record demand and
prices.

Commenting on the announcement, Thor's Chief Executive Officer, Mr John A. Young, said:
"The granting of these mining leases by the
DPIFM clears the way for the MMP to be approved, marking another important milestone for
Molyhil which has been strongly supported by the
DPIFM."'