Exploration Update

Thor Mining PLC
03 October 2007



                                THOR MINING PLC

                           URANIUM EXPLORATION UPDATE

Dated: 2 October 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, today releases an update on current exploration
activities on its uranium exploration projects in the Northern Territory of
Australia.



HIGHLIGHTS



•  Reconnaissance air core drilling completed at Plenty Highway Project
   with assay results expected in mid-to-late November 2007.



•  Encouraging rock chip results received from ground surveys at the
   Harts Range Project including elevated uranium values.



Plenty Highway Uranium Project



A program of reconnaissance air core drilling has been completed at the Plenty
Highway Uranium project in the Northern Territory, with assay results currently
awaited. A total of 16 air core holes (07PHAC001-016) were drilled for 1,582 m.
However, only 55% of the overall program was completed due to slow drilling in
difficult ground conditions.  Drilling to date has completed wide spaced
reconnaissance air core holes on two north-south lines and one east-west
traverse along a fence line track.



A number of the holes did not reach bedrock due to the intersection of deep clay
horizons which exceeded the capabilities of the drill rig. At this stage, the
Company has not sourced another rig to complete more drilling.



The HoistEM data appears to have correctly defined the extent and approximate
depth of the palaeo-channels in the area. Drilling has identified a thin sandy
layer covering up to 10m of calcrete while below this thick horizons of
calcareous clay have been identified with thin units of gypsum and calcrete
being common. Anomalous scintillometer readings have been restricted to units of
quartz sand below the clays.



The most prospective area to date appears to be between holes 07PHAC010 and 012,
along the fence line traverse, where quartz sands up to 8m thick have been
identified returning twice the background radioactivity in the area. More
drilling is required in the area.



Assay results from this drilling will be available mid to late November 2007.



Harts Range Project



The Harts Range project area lies on the eastern margin of the Entia Dome. The
Entia Gneiss forms the core of the Entia Dome, which is located on the western
part of the Exploration Licence area.



In late July, a mapping and rock chip survey was carried out on tenements
EL24736 and EL24734, two of the tenements within the Harts Range Uranium Project
which is located approximately 200km east-northeast of Alice Springs in the
Arunta Province of the Northern Territory. The project includes five other
tenements, EL24827, EL24735, EL24765 and A24766.



The main objective of the sampling program was to follow up on previous rock
chips taken earlier this year from identified areas around the Mt Mary, Daicos
and Haddock prospects in order to identify drilling targets in this difficult
terrain. A number of sub-parallel pegmatites had previously been surveyed at the
Haddock Creek and Daicos prospects, with a maximum count of 19,000 cps returned.

Four samples were taken, with one 1.5kg sample returning a very high uranium
result of 8.87% U. At Mt Mary, two rock chips taken from 'hot spots' in this
area returned elevated uranium values ranging from 107 to 246ppm.



Rock chip sampling and mapping was also completed on the Daicos, Haddock, Mount
Mary (SNAF & Indiana) and Starlight prospects, with a total of 39 rock chip
samples collected.



Daicos



Reconnaissance rock chip samples taken on pegmatite veins mapped at the Daicos
prospect area returned a best assay of 19.37% U from highly radioactive samples
with visible uraninite and columbite.  Other highly anomalous elements
associated with these samples included assays up to 28.32% Nb and 25.52% Ta.
Highly anomalous assays for Dy, Er, Gd, Hf, Ho, Nd, Tb, Y and Zr from these
samples were also noted. The combined average of these 9 associated rare earth
elements is 3.49%. See attached appendix for sample locations



The samples were taken along a number of contact zones associated with an
exposed pegmatite vein system covering an area of 300m by 400m. Drilling is
being planned to determine the thickness and strike extent of the individual
zones. A petrological assessment of the pegmatites is also warranted.




   SAMPLE       EAST        NORTH       PROSPECT    CPS       COMMENTS         Th          U
     ID        (GDA94)     (GDA94)

   DR001       516858      7439893       Daicos    +1000     Pegmatite        0.55%      3.42%
                                                              contact

   DR002       516876      7439834       Daicos    +1000     Pegmatite        1.03%      9.11%
                                                              contact

   DR003       516877      7439844       Daicos    +1000     Pegmatite        0.67%      9.35%
                                                              contact

   DR004       516894      7439851       Daicos    +1000     Pegmatite        0.83%      9.85%
                                                              contact

   DR005       516805      7439631       Daicos    +1000     Pegmatite        1.09%      15.64%
                                                              contact

   DR006       516832      7439555       Daicos    +1000     Pegmatite        1.40%      18.53%
                                                              contact

   DR007       516838      7439560       Daicos    +1000     Pegmatite        1.48%      19.37%
                                                              contact

   DR008       516874      7439418       Daicos    +1000     Pegmatite         40         125
                                                              contact

   DR009       516803      7439633       Daicos    +1000     Pegmatite        1.23%      16.64%
                                                              contact

   DR010       516701      7439604       Daicos    +1000   Quartz Biotite      163         11
                                                               Gniess

   DR011       516808      7439629       Daicos    +1000     Pegmatite        1.18%      13.51%
                                                              contact



All units in this report are in ppm unless otherwise stated.



Haddock



The Haddock prospect covers the base of a large hill over a fold structure
containing highly radioactive epidosite altered country rock and pegmatite.
Previous trenching in the 1990's also returned highly anomalous U from trenches
across the base of the hill. Recent sampling in this area returned a best
uranium assay of 1,658 ppm from sample HK006. Additional trenching and
reconnaissance drilling is required to determine the full extent of
mineralisation in the area.



Of the 17 rock chip sample assays taken at the Haddock prospect to date, only
three exceed 0.1% uranium. The prospect should be evaluated in terms of a large
tonnage/low grade uranium resource. Haddock type anomalies have been recognised
at points along a stratigraphic arc extending north. Approximately 12 km of
prospective strike length provides potential host extensions or repetitions of
epidosite-pegmatoid layers. An detailed airborne radiometric survey should
delineate the broad corridor in which these extensions of epidosite-pegmatoid
may occur.


 SAMPLE    EAST       NORTH       PROSPECT       CPS               COMMENTS            U(ppm)
   ID     (GDA94)    (GDA94)

 HK001    515667     7441235      Haddock       +1000     Epidosite altered country        1,415
                                                              rock and pegmatoid
                                                
 HK002    515667     7441235      Haddock       +1000     Epidosite altered country        1,283
                                                              rock and pegmatoid
                                                
 HK003    515667     7441235      Haddock       +1000     Epidosite altered country          697
                                                              rock and pegmatoid
                                                
 HK004    515667     7441235      Haddock       +1000     Epidosite altered country          908
                                                              rock and pegmatoid
                                                
 HK005    515667     7441235      Haddock       +1000     Epidosite altered country        1,358
                                                              rock and pegmatoid
                                               
 HK006    515667     7441235      Haddock       +1000     Epidosite altered country        1,658
                                                              rock and pegmatoid
                                                
 HK007    515667     7441235      Haddock       +1000     Epidosite altered country          793
                                                              rock and pegmatoid
                                                
 HK008    515667     7441235      Haddock       +1000     Epidosite altered country        1,107
                                                              rock and pegmatoid
                                                
 HK009    515694     7441305      Haddock       +3000        Further east up hill          1,041

 HK010    515642     7441351      Haddock       +2000        Further east up hill            454

 HK011    515532     7441231      Haddock        n/a         Western limb ex PNC             392

 HK012    515535     7441226      Haddock        n/a         Western limb ex PNC             866

 HK013    515532     7441244      Haddock        n/a         Western limb ex PNC              25

 SL001    515150     7436830     Starlight       n/a       Epidosite metasomatised           331
                                                                  pegmatoid

 SL002    515678     7439225     Starlight       n/a      Gniessic metasediments at           16
                                                            contact with pegmatite

 NT001    515021     7439795        Near         n/a      Gniessic metasediments at            9
                                 Starlight                  contact with pegmatite



All units in this report are in ppm unless otherwise stated.

n/a - not applicable



Mt Mary



The newly identified Indiana prospect is associated with multiple pegmatite
intrusions in sheared country rock in a valley at the base of Mount Mary. Highly
anomalous scintillometer readings were returned from numerous samples in the
area. Further mapping, rock chip sampling, trenching and drilling will be based
on these initial rock chip assay results.



The full extent of the Indiana prospect is still not known; a best assay of
673ppm uranium was returned from initial sampling in the area.


  SAMPLE      EAST        NORTH           PROSPECT            CPS         COMMENTS      U(ppm)
    ID       (GDA94)     (GDA94)

  MM001      532528      7452392     Mt Mary (Indiana)     800-1200      Pegmatite        112

  MM002      532515      7452359     Mt Mary (Indiana)     800-1200      Pegmatite        27

  MM003      532420      7452401     Mt Mary (Indiana)     800-1200      Pegmatite        184

  MM004      532418      7452392     Mt Mary (Indiana)     800-1200      Pegmatite        286

  MM005      532330      7452340     Mt Mary (Indiana)     800-1200      Pegmatite        44

  MM006      532286      7452342     Mt Mary (Indiana)     800-1200      Pegmatite        75

  MM007      532235      7452337     Mt Mary (Indiana)     800-1200      Pegmatite        410

  MM008      532188      7452327     Mt Mary (Indiana)     800-1200      Pegmatite        118

  MM009      532130      7452325     Mt Mary (Indiana)     800-1200      Pegmatite        196

  MM010      532065      7452312     Mt Mary (Indiana)     800-1200      Pegmatite        87

  MM011      530994      7452687       Mt Mary (SNAF)      800-1200      Pegmatite        451
                                                                         intrusives

  MM012      531020      7452644       Mt Mary (SNAF)      800-1200      Pegmatite        673
                                                                         intrusives



All units in this report are in ppm unless otherwise stated.



Commenting on the latest results, Thor Mining's Chief Executive Officer, Mr John
Young said: 'With further ground based exploration in the area we believe we can
outline a number of drill targets in late stage pegmatitic intrusives within our
project areas. Of particular interest is the strong rare earth elements'
signature in the vicinity of Daicos, which upgrades the prospectivity of this
area.'



GLOSSARY OF GEOLOGICAL AND TECHNICAL TERMS



Ba                   The chemical symbol for the element Barium

Biotite              A brown to black magnesium aluminium silicate mineral, 
                     common in most volcanic rocks

Ce                   The chemical symbol for the element Cerium

Cs                   The chemical symbol for the element Caesium

Dy                   The chemical symbol for the element Dysperosium

Er                   The chemical symbol for the element Erbium

Epidote              A yellow to green silicate mineral, formed during low 
                     grade metamorphism or hydrothermal processes.

Felsic               Descriptive of light coloured rock containing an 
                     abundance of feldspar (generally Potassium rich) and quartz.

Hf                   The chemical symbol for the element Hafnium

Ho                   The chemical symbol for the element Holmium

Ga                   The chemical symbol for the element Gallium

Gd                   The chemical symbol for the element Gadolinium

Gneiss               High grade metamorphic rock composed of alternating bands 
                     respectively rich in light and dark coloured minerals.

Granite              Light coloured, coarse-grained, intrusive igneous rock; 
                     comprises large sections of the Earth's continental crust.

Intrusion            A body of igneous rock that invades older rocks.

Mafic                Descriptive of rocks containing major proportions of 
                     magnesium and iron silicate minerals.

Mineralisation       The concentration of metals and their minerals within a
                     body of rock.

Mineralogy           The science of the study of minerals.

Nd                   The chemical symbol for the element Neodymium

Nb                   The chemical symbol for the element Niobium

Pb                   The chemical symbol for the metallic element Lead.

Pegmatite            Very coarse-grained igneous intrusive body, usually 
                     granitic, usually in dyke or sill form.

ppm                  Parts per million.

Plagioclase          Plagioclase is an important rock-forming mineral and occurs 
                     widely, primarily in igneous rocks such as basalts.

Radiometric          Measurement of radiation.  An airborne radiometric survey 
                     may distinguish different rock units on the basis of their
                     inherent radioactive minerals.

Rock Chip Sampling   Systematic collection of rock samples at a series of 
                     different locations in order to study the distribution of 
                     rock geochemical values.

REE                  Rare earth elements

Rb                   The chemical symbol for the element Rubidium

Scintillometer       Instrument used for measuring radiation

Shear                A zone in which rocks have been deformed, primarily in a 
                     ductile manner, as a result of applied stress.

Strontium            Strontium is a rare alkaline-earth metal

Structural           Pertaining to geological structure; including folds, 
                     faults, shears, cleavage, and joints. Structures range 
                     from regional scale to microscopic.

Ta                   The chemical symbol for the element Tantalum

Tb                   The chemical symbol for the element Terbium

Th                   The chemical symbol for the element Thorium

U                    The chemical symbol for the element Uranium

Uraninite            The chief ore mineral of uranium. Uraninite has the
                     idealized chemical composition UO2, uranium dioxide. 
                     Thorium and rare earths, chiefly cerium, are usually 
                     present in variable and sometimes large amounts.
                     Lead always is present by radioactive decay of the thorium 
                     and uranium present

Vein                 A thin sheet-like intrusion into a fissure or crack, 
                     commonly bearing quartz

Y                    The chemical symbol for the element Yttrium

Zn                   The chemical symbol for the element Zinc.

Zr                   The chemical symbol for the element Zirconium



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     [phone]   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  [phone]  Read Corporate             Public Relations/
                                                               Australia




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