Exploration Update

Thor Mining PLC
15 November 2006


                                THOR MINING PLC


               Uranium Exploration Update - Harts Range tenements



Dated: 15 November 2006


Thor Mining PLC ('Thor') the specialist metals company currently focussed on
advancing tungsten-molybdenum and uranium projects in the Northern Territory of
Australia, today announce the results of the reconnaissance sampling at its
Harts Range uranium project in the Northern Territory. These results will be an
important focus of Thor's ongoing exploration activity.


Highlights


  • encouraging initial results including elevated uranium values; and


  • sampling returns anomalous uranium values, confirming the potential of the
    central corridor of the Harts Range tenements.


First-pass reconnaissance sampling of the Harts Range tenement area was
completed during October, with several areas traversed. The main objective of
the sampling program was to identify known prospects and determine optimal
access routes and logistics for follow-up exploration in 2007. Eleven rock chips
were taken on two out of the six granted tenements. Analysis was completed for
39 elements, with the following results returned:


SAMPLE             Ba     Ce    Cs    Ga    Nb     Pb     Rb     Th         U          Y     Zn   Zr
  ID

HR001             627   55.7  0.46  36.4   5.2     67   92.7   28.4      7.61      103.5     35   82
HR002           101.5     35  0.13  50.8   3.2    120   12.5   9.04      6.71        115  0.52%   71
HR003           122.5   71.2  0.11  36.1   0.4     92    9.1   35.5      7.19       57.9     45   59
HR004             137    114  0.19  45.2  16.7     20   19.2   8.49      6.65       95.7     13  189
HR005              86  103.5  0.03  52.3   9.5     39    3.1  19.55      6.36       60.5     19  274
HR006            22.3   19.7  0.07  27.2   4.2     50      2   3.55     16.45       21.7     99   86
HR007             862  173.5  3.84  15.4  10.8  1.62%  100.5    684    31.60%     >10000     48  923
HR008            1395   90.3  5.23  21.3  14.5     50  197.5   5.52       227         36     90  457
HR009            1225   89.3  5.41  22.6  13.6     33    153    5.5     120.5       38.3     91  369
HR010           185.5   69.8  1.16  13.1   3.5     60   81.9   50.3       210      117.5     12   10
HR011             240   12.5  1.43  17.3   647    294     84   50.1     0.61%        245      9   29



All units are in ppm unless otherwise stated

> 10,000 ppm - beyond detection limits



Six samples HR1-6 were taken in the Eagle Beak area on EL24827. Strong epidote
alteration was noted related to shearing of altered felsic rocks, although no
significant uranium values were returned. Samples HR1-3 were elevated in
strontium and sample HR2 returned a value in excess of 0.52% Zn.

Five samples were taken at the Ryoma and Casper prospects on EL24735, with
results confirming the prospectivity of this area returning elevated uranium
values ranging from 121ppm to 227ppm U. Results were also elevated in rare earth
elements (REE) such as Yittrium and Zirconium. Sample HR8 also returned up to
1.62% Pb.

  Sample ID      East(GDA94)      North(GDA94)       Prospect      Tenement    Description

     HR1           512496            7454754        Eagle Beak      EL24827    Epidote alt
     HR2           512440            7454848        Eagle Beak      EL24827    Epidote alt 10m
     HR3           512544            7454964        Eagle Beak      EL24827    Epidote alt 5m
     HR4           511278            7454386        Eagle Beak      EL24827    Epidote alt
     HR5           511510            7454706        Eagle Beak      EL24827    Epidote alt
     HR6           512496            7454754        Eagle Beak      EL24827    Epidote alt
     HR7           518760            7418900          Ryoma         EL24735    Biotite/Amph- vis
                                                                               Uraninite
     HR8           518760            7418900          Ryoma         EL24735    Biotite/Amph- vis
                                                                               Uraninite
     HR9           518760            7418900          Ryoma         EL24735    Biotite/Amph- vis
                                                                               Uraninite
    HR10           518170            7419160          Casper        EL24735    Quartz Plagioclase
    HR11           518170            7419160          Casper        EL24735    Quartz Plagioclase


The results included a single sample result of 31.6% U. This hand-picked sample
contained a significant portion of visible uraninite, and is not representative
of the complete zone of shearing noted in mafic amphibolites. Results were also
elevated in REE, which is often associated with late-stage intrusives.
Significantly, a number of large pegmatite bodies are located within the Harts
Range project. The result of 0.61% U from the Casper Prospect confirms this,
with the sample also anomalous in Nb, Ta and Cs

Work to date in the Harts Range Project indicates that sporadic high uranium
grades occur along NW trending structural corridors, suggesting a vein-type
model for mineralisation such as that at Schwartzwalder in Colorado (USA).
Mineralisation here occurs in numerous lenses associated with a major shear
fault network and along contacts between mica schist and gneissic rocks. They
occur generally in clusters and are of smaller tonnage but high in grade and
have the potential to host resources in the order of 10 to 20,000 tonnes of
uranium.

Uranium is also associated with REE in large-scale pegmatite intrusives, similar
to the Rossing Mine in Namibia. This type of deposit generally has lower grades
and high tonnage.

In light of these encouraging initial results, Thor is mobilising a field team
to complete a detailed ground-based scintillometer survey on the major NW
trending structure associated with the Ryoma and Casper prospects in the central
part of EL24735. This team will be headed by Thor's recently appointed uranium
consultant, Mr Phillippe Koehn.

Commenting on the results, Thor's Chief Executive Officer, Mr John A. Young,
said: 'I am encouraged by these initial results from this major NW structure
within the Harts Range tenements which hosts a number of high-priority uranium
prospects. The next phase of reconnaissance work will focus along this corridor,
as well as a parallel structure to the north east. We are currently in the
process of completing the HoistEM survey at Hale River and Plenty Highway, with
results expected in late December ahead of drilling programs which are scheduled
to commence in the first quarter of 2007'.


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

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.

Ga                    The chemical symbol for the element gallium

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.

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

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 yittrium

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, the
Chief Executive Officer of Thor, 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 this RNS announcement 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
CEO

John Simpson         020 7512 0191             ARM Corporate Finance       Nominated Adviser
                                               Limited

Leesa Peters         020 7429 6600             Conduit PR Limited          Public Relations/UK
         or
Abigail Singleton    020 7429 6606

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
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