MOU with HNG

Thor Mining PLC
17 April 2007



                                THOR MINING PLC

                          Memorandum of Understanding
                     Hunan Nonferrous Metals Holding Group


Dated: 17 April 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 an update to the Memorandum of
Understanding (the 'MOU') with China's Hunan Nonferrous Metals Holdings Group
Co, Ltd ('HNG') in regard to its Molyhil Tungsten-Molybdenum project 
('Molyhil').


The original terms of the MOU allowed for a period of due diligence to be
conducted by HNG until 15 April 2007. Subsequently, if HNG decided to proceed it
was the intention of both Thor and HNG to complete binding terms and suitable
off-take arrangements by 30 April 2007.


HNG approached Thor, late Friday afternoon 13 April 2007, to consider extending
the above deadlines as the due diligence was not yet complete and the revised
JORC resource for Molyhil is due shortly.



Thor has today agreed with HNG to:



1.   Postpone the date to conclude due diligence until 30 April 2007; and

2.   Postpone the date for completion of commercial negotiations until 11 May
     2007.



Thor and HNG continue to work closely together on the outstanding due diligence
matters, and Thor is optimistic that all outstanding matters will be resolved.



The parties are scheduled to meet in Perth, to commence commercial negotiations,
on Monday 30 April 2007. In preparation for those discussions Penfold Marketing
are currently visiting HNG in China; and Thor's taxation and other advisors are
preparing various briefing documents.



Thor's consultants will determine a revised JORC resource as soon as the assay
results from the recent drilling become available. Thor is endeavouring to have
this completed within the above time restrictions.



The Directors believe HNG is a dominant producer of nonferrous and minor metals
in China. Thor understands that HNG 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 in May 2006. The Directors believe the HNG group's combined current
market capitalisation to be in excess of US$2 billion.



The Company has requested a trading halt in its shares and warrants on the
Australian Stock Exchange (the 'ASX') pending the release of this announcement
on the ASX. The announcement will be released on the ASX prior to the start of
trading tomorrow, Wednesday 18 April 2007.



Enquiries:

John Young      + 61 (0)419 954 020      Thor Mining PLC                 Chief Executive Officer
John Simpson    020 7512 0191            ARM Corporate Finance Limited   Nominated Adviser
Leesa Peters    020 7429 6600            Conduit PR Limited              Public Relations/UK
         or     020 7429 6603
Jos Simpson
Nicolas Read    + 61 (0) 8 9388 1474     Read Corporate                  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