Good to see:20th October 2006 • Major helicopter borne HoistEMTM...

Good to see:


20th October 2006




• Major helicopter borne HoistEMTM survey to commence next week
covering the Hale River and Plenty Highway tenements

• These two projects cover almost 1200 sq km of tertiary palaeo-
drainage channels

• Thor’s Northern Territory uranium portfolio comprises over 3,000 sq
km and includes numerous prospective areas with strong exploration
history and proximity to existing uranium discoveries

Thor Mining PLC (AIM: THR, ASX: THR) is pleased to announce the commencement of the
first phase of a comprehensive uranium exploration program within its recently acquired
portfolio in the Northern Territory of Australia. Thor’s uranium portfolio comprises five
advanced uranium projects covering a total area of 3,000 sq km.

The first phase of the program comprises a helicopter borne HoistEMTM survey (see attached
photograph) covering the Company’s Hale River and Plenty Highway tenements, which cover
some 1,200 sq km of tertiary basin sediments and palaeo-drainage channels prospective for
sandstone and roll-front style uranium deposits.

The survey is being flown by WorleyParsons GPX Airborne Pty Ltd, a WA-based geophysical
company that specializes in airborne electromagnetic techniques (see
www.worleyparsonsgpx.com.au). Based on previous experience, it is anticipated that the
electromagnetic survey will respond to saline water in buried tertiary palaeo-channels and
define basin shapes prospective for roll-front uranium deposits, thereby defining targets for
follow up drilling.

The survey is being conducted over the northern section of the garden sub-basin (Hale River)
and the Waite Basin (Plenty Highway.) These basins are believed to hold the highest promise
for a new uranium discovery. The airborne surveys will be completed on 200m and 400m line
spacings respectively.

Thor’s Northern Territory uranium exploration program is being conducted in parallel with the
Definitive Feasibility Study on its other major asset, the Molyhil Tungsten-Molybdenum
Project, also located in the Northern Territory.

Thor’s Chief Executive Officer, Mr John A. Young, said: “We are pleased to announce the
commencement of our first major uranium exploration campaign following our recent IPO and
listing on the ASX. We will be utilising the latest in exploration technology in this helicopter-
borne HoistEMTM survey in order to identify specific target areas that will rank as priority
drilling targets in our forthcoming drilling program.”


Regards,
Snake13.