Thor Energy Plc Quarterly Activities and Cash Flow Report January to March 2024

Thor Energy Plc (ASX: $THR) has reported progress in its uranium and vanadium projects in the USA and copper projects in Australia. Managing Director Nicole Galloway Warland highlighted the high-grade uranium and vanadium assay results driving resource drilling at the Groundhog and Rim Rock prospects within the Wedding Bell Project. The company also made significant progress with its copper projects in Australia, including 3D ANT modelling at the Alford East Project, refining targeting strategy and focusing on areas with potential high-grade REE and oxide copper-gold mineralisation. IVR has completed their Stage 1 Earn-in Commitment by funding A$1m on exploration activities at the Molyhil Project, marking a significant milestone for Thor Energy Plc.

Executive Commentary

Nicole Galloway Warland, Managing Director of Thor Energy Plc, expressed satisfaction with the progress made in the uranium and vanadium projects in the USA, citing high-grade uranium and vanadium assay results driving resource drilling at the Groundhog and Rim Rock prospects. She also highlighted the company's advancements in the copper projects in Australia, particularly the 3D ANT modelling at the Alford East Project, providing significant lithological and structural insights. Warland emphasized the completion of IVR's Stage 1 Earn-in Commitment at the Molyhil Project and expressed optimism for the future as the company prepares for resource drilling at its uranium and vanadium assets in the US portfolio, pump testing for ISR assessment in the Alford Copper Belt portfolio, and copper-gold recoveries from SELT at Kapunda.

Summary

Thor Energy Plc has made significant progress in its uranium and vanadium projects in the USA, with high-grade uranium and vanadium assay results driving resource drilling at the Groundhog and Rim Rock prospects. The company is also advancing well with its copper projects in Australia, conducting 3D ANT modelling at the Alford East Project, refining targeting strategy, and focusing on areas with potential high-grade REE and oxide copper-gold mineralisation. The completion of IVR's Stage 1 Earn-in Commitment at the Molyhil Project marks a key milestone for Thor Energy Plc. Looking ahead, the company is preparing for resource drilling at its uranium and vanadium assets in the US portfolio, pump testing for ISR assessment in the Alford Copper Belt portfolio, and copper-gold recoveries from SELT at Kapunda. Thor Energy Plc continues to focus on the uranium potential at Wedding Bell, Radium Mountain, and Vanadium King, while identifying new opportunities to add to its portfolio.