Off-take agreement signed

Thor Mining PLC
12 March 2008


                                 THOR MINING PLC


Molyhil Tungsten - Molybdenum Project Off-take Agreement entered into with CITIC

Dated: 12 March 2008


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 announces that it has entered into an
Off-take Agreement with CITIC Australia Commodity Trading Pty Ltd ('CITIC') for
its Molyhil Tungsten - Molybdenum Project in the Northern Territory of Australia
('Molyhil'). The agreement is for CITIC to take 100% of the Molybdenum and
Tungsten concentrates to be produced from Molyhil.


Highlights
     
•    100% life-of-mine off-take agreement for Molybdenum and Tungsten 
     concentrates to be produced at Molyhil;

•    Final development approvals for Molyhil expected in during second quarter 
     of 2008;

•    Signing of off-take agreement triggers final stage of funding process for 
     Molyhil; and

•    Alternative financing also under consideration.


CITIC is wholly owned by the CITIC Group, one of China's largest state-owned
companies with assets in excess of US$180 billion. The activities of the CITIC
Group include banking and financial businesses, individual investments
(including energy and raw materials) and international trade.

The CITIC Group in Australia, comprising CITIC Australia Commodity Trading Pty
Ltd and CITIC Resources Australia Pty Ltd and has assets and annual sale of over
A$1.2 billion. Its operations include a 22.5% interest in the Portland Aluminium
Smelter Joint Venture in Victoria, a 17.66% shareholding in Macarthur Coal
Limited, a 7% direct interest in the Coppabella/Moorvale Coal Joint Venture, a
76.35% shareholding in the ASX-listed CITIC Australia Trading Limited, and
interests in a series of exploration projects.

Final approvals for the development of Molyhil are expected during second
quarter of 2008, with the mine management plan currently under review by the
Department of Primary Industries Fishing and Mining in the Northern Territory.

Molyhil has a current resource of 3.73 million tonnes at 0.51% combined tungsten
(WO3) and molybdenum (MoS2). The mining plan provides for the development of an
open pit mining operation and a new processing facility.  The mining reserve
contains a total of 4.9 million pounds of molybdenum metal and 700,000 mtu's of
tungsten which will be produced over the expected 5.7 year life of the open pit
design.

Commenting on the signing of the off-take agreement, Thor's Chief Executive
Officer, Mr John A. Young, said: 'The negotiation of a long term off-take
agreement has been a critical factor in progressing the development of Molyhil.
We are very pleased to have secured CITIC as a partner and, with this off-take
agreement now in place, we will now move forward to finalise funding
arrangements ahead of the planned commencement of construction at Molyhil.'

Mr Ting Hu Guo, the executive director of CITIC, said he was very pleased to
enter into this agreement with Thor. 'CITIC has been seeking to secure a
long-term supply of Tungsten and Molybdenum, which are important raw materials
for the Group's expanding steel business in China,' he said.  'We are therefore
delighted to support Molyhil through this life-of-mine off-take agreement, which
clears the way for financing and development of this project to proceed,' Mr Guo
added.


Enquiries:

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

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.



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