Exercise of Warrants

Thor Mining PLC
16 February 2007

                                 THOR MINING PLC

                              Exercise of Warrants


Dated: 16 February 2007

Thor Mining PLC ('Thor' or the 'Company') the specialist metals company
currently focussed on advancing tungsten-molybdenum and uranium projects in the
Northern Territory of Australia announces that as at 31 January 2007 55,519
Warrants had been exercised. Each Warrant entitles the holder to subscribe for
one new ordinary share of 0.3p in the share capital of the Company (the 
'Shares') at a price of 8p per share.

Following the issue of these Shares the Company's total issued share capital
will be 129,947,186 ordinary shares. Application has been made to the London
Stock Exchange for the Shares to be admitted to trading of on AIM. Dealings are
expected to commence at 8.00 a.m. on 19 February 2007.


Enquiries:

John Barr       00 61 418 912 885  Thor Mining PLC            Executive Chairman

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


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