Proposed ASX Listing

Thor Mining PLC
08 August 2006

                           THOR MINING PLC

          PROPOSED ASX LISTING, FUND RAISING AND ACQUISITION


Dated: 8 August 2006

The Director's of Thor Mining PLC ('Thor' or the 'Company'), the specialist
metals company currently focussed on advancing tungsten and molybdenum projects
in the Northern Territory of Australia, announced on 18 April 2006 its proposed
listing on the Australian Stock Exchange (the 'ASX') and Initial Public Offering
in Australia. On 13 June 2006 Thor announced the proposed acquisition of Hale
Energy Limited ('Hale Energy') from Batavia Mining Limited ('Batavia'). Hale
Energy's assets comprise a portfolio of uranium exploration assets in the
Northern Territory of Australia.

Thor has today lodged an Australian Prospectus outlining: a conditional Offer of
up to 52,500,000 Offer Shares at AUD 20 cents per New Share to raise up to
AUD$10.5 million in Australia; the proposed dual listing of its shares on the
ASX; and the proposed acquisition of Hale Energy (the 'Prospectus'). This Offer
does not constitute an offer to sell, or a solicitation of an offer to buy,
Shares or Warrants in the UK and the Prospectus is provided for information only
in the UK. Patersons Securities Limited, an Australian stockbroker, has
conditionally agreed to underwrite AUD$10.0 million of the total fund raising.

The funds raised will be used for the completion of the definitive feasibility
study of the Molyhil Tungsten - Molybdenum Project, for the exploration of the
uranium projects detailed in the Prospectus and to pursue other opportunities to
expand the Company's portfolio of mineral assets.

The Company will issue a circular to Shareholders together with a copy of the
Prospectus and the Annual Report and Accounts for the year to 30 June 2006 on 9
August 2006. The circular and the Prospectus are for information only, to
explain the background to the proposal and the requirement for holding an
Extraordinary General Meeting of the Company on 5 September 2006.The notice of
Extraordinary General Meeting seeks Shareholder approval for: the ASX listing;
the acquisition of Hale Energy; the Share Consolidation required to effect the
ASX listing; Section 80 of the Companies Act 1985 approval; Section 95 of the
Companies Act 1985 approval; the granting of Warrants; and the granting of
Options to Directors and employees.

Admission to AIM

Application for Admission will be made for the New Shares and the Warrants to be
issued as a result of the proposals to be admitted to trading on AIM as soon as
practicable following the Record Date. It is expected that Admission will become
effective at 8.00am on 22 September 2006.

Enquiries:


John W Barr         00 61 418 912 885   Thor Mining PLC             Executive Chairman
John Simpson        020 7512 0191       ARM Corporate Finance Ltd   Nominated Adviser
Abigail Singleton   020 7429 6606       Conduit PR                  Public Relations
                    or
                    07739 461 061



The Prospectus, the Circular and the Annual Report and Accounts will be
available on Thor's website www.thormining.com, which includes a facility to
register to receive regular updates by email.


                      This information is provided by RNS
            The company news service from the London Stock Exchange