MOU entered into with HNG

Thor Mining PLC
13 March 2007


                                THOR MINING PLC

                      Molyhil - MOU entered into with HNG


Dated: 13 March 2007


Thor Mining PLC ('Thor' or the 'Company') the specialist metals company
currently focussed on advancing tungsten-molybdenum and uranium projects in the
Northern Territory of Australia, today announced that it has entered into a
Memorandum of Understanding with China's Hunan Nonferrous Metals Holdings Group
Co, Ltd ('HNG') in regard to its Molyhil Tungsten-Molybdenum project 
('Molyhil').


Highlights


•   HNG to complete due diligence by 15 April 2007; and

•   Thor and HNG intend to conclude commercial terms and off take arrangements 
    by 30 April 2007.


Summary


The Memorandum of Understanding allows for a period of due diligence to be
conducted by HNG to 15 April 2007. Should HNG decide to proceed following their
due diligence it is the intention of both Thor and HNG to complete binding terms
and suitable off-take arrangements by 30 April 2007.


The Directors believe HNG is a dominant producer of nonferrous and minor metals
in China, owns the world largest deposits of tungsten and bismuth, is the
world's largest producer of cemented carbides, and owns China's largest zinc and
antimony smelters. The Directors also believe HNG is a significant producer of
lead, silver, indium, tantalum and niobium. HNG is headquartered in Changsha
city, Hunan, Peoples Republic of China and is the majority shareholder of Hunan
Nonferrous Metals Corporation Limited, listed in Hong Kong. The Directors
believe the HNG group's combined current market capitalisation of over USD2
billion


Thor has undertaken not to sign binding terms with any other party before 30
April 2007, but other interested parties will be conducting due diligence during
this period.


Enquiries:

John Young           + 61 (0)419 954 020       Thor Mining PLC             Chief Executive
                                                                           Officer
John Simpson         020 7512 0191             ARM Corporate Finance       Nominated Adviser
                                               Limited

Leesa Peters         020 7429 6600             Conduit PR Limited          Public Relations/UK
         or          020 7429 6603

Jos Simson
Nicolas Read         + 61 (0) 8 9388 1474      Jan Hope & Partners         Public Relations/Australia


Updates on the Company's activities are regularly posted on Thor's website
www.thormining.com, which includes a facility to register to receive these
updates by email.


                      This information is provided by RNS
            The company news service from the London Stock Exchange