Molyhil Mining Agreement

Thor Mining PLC
25 October 2007


                               THOR MINING PLC

                        MOLYHIL MINING AGREEMENT SIGNED


Dated: 25th October 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, today announces that it has signed a landmark
Native Title Mining Agreement for its 100%-owned Molyhil Tungsten-Molybdenum
Project in the Northern Territory of Australia ('Molyhil') which will enable the
Molyhil Mining Leases to be granted and the project to proceed to development.

The Agreement was signed with representatives of the community of the Eastern
Arrernte people of the central Northern Territory, one of the largest indigenous
groups in central Australia.

The signing follows the completion of an Indigenous Land Use Agreement in 2002
for exploration in the area. A meeting with the Traditional Owners and the
Central Land Council ('CLC') was held on site in March 2007, to obtain approval
for the proposed location of project infrastructure for the development of
Molyhil.

The signing ceremony, which was held at Molyhil site north-east of Alice
Springs, was attended by community members as well as the Chairman of the CLC,
Mr Lindsay Bookie, and the Chairman and CEO of Thor, Mr John Barr and Mr John
Young, together with several senior company executives.

As well as being the CLC's elected Chairman, Mr. Bookie is also a highly
respected member of the Eastern Arrernte people.

Mr Young said the Company was very pleased to have achieved such a milestone and
looked forward to a long-standing, mutually beneficial relationship with the
Eastern Arrernte community and its members.

'We have been able to forge a constructive, open and strong relationship with
the Eastern Arrernte people and we look forward to continuing to develop and
enhance this relationship in the years ahead as Molyhil commences operations,'
Mr Young commented.

'The development of this project will bring important employment and training
opportunities to the local community and we will be working hard to ensure that
the Traditional Owners of this region benefit from the investment that will be
made,' he continued.

The Mining Agreement has been structured to ensure that the community benefits
directly from the proposed mining activities at Molyhil and that these benefits,
which will be distributed by the CLC, are delivered back to the community and
its members.

'Thor is committed to ensuring that community members are given every
opportunity to benefit from the Company's proposed exploration and mining
activities carried out on its land.' said Mr Young.

Mr Young said the signing of the Mining Agreement represented the final step
required for the Northern Territory Government to process Thor's application for
the granting of the Mining Leases at Molyhil, where it will base its mining
operations.

The Company is currently in the process of finalising a Mining Reserve for
Molyhil, as well as an off-take and project financing agreement. The Project is
anticipated to be a 400,000 tpa mining and processing operation with an initial
5-year mine life. The total investment is anticipated to be in excess of AUS$60
million, with the project expected to generate significant employment
opportunities during construction and operation.


Enquiries:

John Young     [phone]   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  [phone]  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