Molyhil & Uranium Update

Thor Mining PLC
20 June 2007

                              THOR MINING PLC

                           MOLYHIL AND URANIUM UPDATE


Dated: 20 June 2007



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, announces an update on drilling and exploration
programs at both its Molyhil Tungsten-Molybdenum Project ('Molyhil') and its
Hale River and Bundeya Uranium Project ('Hale River') in the Northern Territory.


Highlights


•  Further results received from resource drilling at Molyhil, with all
   assay results now received;


•  Updated resource estimation in progress to be followed by revised
   mining reserve;


•  Final metallurgical results received, confirming expected concentrate
   specifications, indicating primary concentrate grades of MoS2 at @ 
   51.4% Mo with a recovery of 77.8% and WO3 at 72.9% with a recovery of 
   65.4%; and


•  Reconnaissance air core drilling at Hale River now 50% complete, with
   24 holes drilled for 1,549m.




Molyhil - Drilling Results


All results from the recent program of Reverse Circulation ('RC') resource
in-fill drilling have now been received, including drill holes 07MHRC007 and
07MHRC011. The drilling program was completed in March 2007 with a total of 25
RC holes drilled for 2,586 metres (previously reported).



Additional results have now been received, including:


Table 1

     Hole ID        Width         Depth         % MoS2       % WO3   Combined %
                     (m)        From (m)                             WO3 + MoS2

    07MHRC007         9             0            0.11         0.44      0.55

    07MHRC011         13           13            0.52         0.13      0.65
       Inc            5            18            0.18         0.32      0.50



With the receipt of these final assays, work can now commence on the estimation
of a revised JORC resource as well as a revised mining reserve.



Final Metallurgical Results


Final metallurgical test work on the Molyhil deposit has been carried out by
independent consultants Nagrom and IMO under the supervision of Proteus
Engineering, with the following results received:



Table 2


Primary Molybdenum Concentrate                Primary Tungsten Concentrate

Concentrate grade at @ 51.4% Mo, the          Concentrate grade at 72.9% WO3 the
recovery is 77.8%                             recovery is 65.4%

•  Mo           51.4%                         •  WO3            72.9%                 
•  WO3          0.088%                        •  Cu             0.004%
•  Cu           1.2%                          •  Pb             0.014%
•  Fe           5.2%                          •  SiO2           1.10%
•  Si           1.6%                          •  Mo             1.68%
•  Al           0.46%                         •  SnO2           1.65%
•  Bi           17 ppm                        •  Al2O3          0.07%
•  Pb           245  ppm                      •  Fe             0.2%
•  Zn           0.152%                        •  S              0.09%
•  P            100  ppm                      •  U3O8           0.058%
•  S Total      37.7%                         •  Th             0.002%
•  U            15 ppm
•  Th           2 ppm







Finance and Off-take Negotiations



With the receipt of final concentrate specifications and the updated resource
due to be completed shortly, information packages have been sent to prospective
off-take parties. Thor expects to be able complete off-take negotiations by the
end of August 2007.



Hale River



Reconnaissance air core drilling at Hale River is now approximately 50%
complete, with a total of 24 holes completed to date for 1,549m. The drilling
rig has suspended operations for approximately 10 days while new equipment is
sent to site, but drilling should recommence shortly.



Four out of the planned six prospective areas at Hale River have been drilled so
far. Where channel sands are shallow (<50m), geological logging of the drill
holes has confirmed the presence of downward coarsening sandy sequences and
carbonaceous horizons within the targeted channels. These are complex
interbedded units with irregular boundaries noted between oxidised and
unoxidised sands.



Because the sands are unconsolidated, a number of holes did not reach bedrock
and have therefore not fully tested some of the deeper channels. In these
difficult areas, a trial using mud rotary techniques will be completed. If this
trial is successful, mud rotary techniques may be used in future programs as a
greater end-of-hole depth is likely to be achieved through this technique.



Samples taken mostly from the top of the upper carbonaceous horizon have
returned scintillometer readings several times background. Detailed sample
results are expected by late June.



Commenting on the recent progress, Thor's Chief Executive Officer, Mr John A.
Young, said: 'Work is progressing steadily at both our Molyhil and Hale River
projects. The resource drilling program at Molyhil has been very successful, and
we are looking forward to completion of a revised resource and mining reserve
estimate shortly, in parallel with ongoing off-take negotiations. At Hale River,
our drilling has intersected a number of prospective zones which will provide a
focus for our ongoing uranium exploration.'



Glossary of geological and technical terms


TERM                 DESCRIPTION

MOLYBDENUM           Molybdenum (Mo) is a transition metal. The pure metal is 
                     silvery white in colour, fairly soft, and has one of the 
                     highest melting points of all pure elements. In small 
                     quantities, molybdenum is effective at hardening steel.

TUNGSTEN             Tungsten (W) is found in several ores including wolframite 
                     and scheelite. It is a very hard, heavy, steel-grey to 
                     white transition metal

                     . The pure form is used mainly in electrical applications 
                     but its many compounds and alloys are widely used in many 
                     applications.

WSO3                 Scheelite
Cu                   Copper
Fe                   Iron
S                    Sulphur
Si                   Silicon
SiO2                 Silica (silicon oxide)
SnO2                 Cassiterite (tin oxide)
Al                   Aluminium
Al2O3                Alumina
Bi                   Bismuth
Pb                   Lead
Zn                   Zinc
P                    Phosphorous
U                    Uranium
U3O8                 Uranium Oxide
Th                   Thorium




JORC Compliance



The information in this report that relates to exploration results, mineral
resources or ore reserves is based on information compiled by John Young, who is
a Member of The Australasian Institute of Mining and Metallurgy. John Young is a
director of Thor Mining PLC.  John Young has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'.  John Young consents
to the inclusion in the report of the matters based on his information in the
form and context in which it appears.



Enquiries:


John Young     + 61(0)419 954 020   Thor Mining PLC            Chief Executive Officer

John Simpson   020 7512 0191        ARM Corporate Finance Ltd  Nominated Adviser


Leesa Peters   020 7429 6600        Conduit PR Limited         Public Relations
    or
Jos Simson     020 7429 6603


Nicholas Read  + 61(0) 8 9388 1474  Read Corporate            Public Relations/
                                                              Australia




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