Issue of Equity

Thor Mining PLC
23 July 2007


                               THOR MINING PLC

                               Issue of Equity

Dated: 23 May 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 has issued a further 6,800,000 new ordinary
shares of 0.3p each in the capital of the Company (the 'Shares'), conditional on
the Shares being admitted to trading on AIM. The funds are to supplement the
Company's working capital and to provide additional finance for the development
of the Molyhil Tungsten and Molybdenum Project.

City Equities Limited has agreed to subscribe for 6,000,000 Shares at 11p per
Share. Following the subscription, City Equities Limited will hold 6,000,000
Shares, which is approximately 4.3% of the issued share capital of the Company
as enlarged by the placing.

Following the issue of these Shares the Company's total issued share capital
will be 139,659,508 Shares. Application has been made to the London Stock
Exchange for the Shares to be admitted to trading on AIM. Dealings are expected
to commence at 8.00 a.m. on 27 July 2007.


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

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