Vancouver, British Columbia--(Newsfile Corp. - July 15, 2024) - Thor Explorations Ltd. (TSXV: THX) (AIM: THX) ("Thor Explorations" or the "Company") is pleased to provide an operational update for the Segilola Gold mine, located in Nigeria ("Segilola"), and for the Company's mineral exploration properties located in Nigeria and Senegal, for the three months to June 30, 2024 (the "Quarter" or "Q2").

Segilola Q2 2024 Operational Highlights

Gold poured of 21,742 ounces ("oz")

Produced from 174,000 tonnes milled at an improved average grade of 3.42 grammes per tonne ("g/t") of gold ("Au")

Mine production of 491,935 tonnes at an average grade of 1.78g/t of Au for 28,153 oz

Ore stockpile increased by 9,034oz to 38,298oz of Au at an average grade of 1.01g/t of Au which includes a medium-grade stockpile of 7,620 oz of Au at a grade of 2.0g/t of Au

Release of 3,652oz of Au in circuit ("GIC") resulting from improved operational efficiency in the process plant post completion of the previously announced carbon in leach ("CIL") circuit upgrade

Payment of US$7.9 million towards the outstanding senior debt facility with Africa Finance Corporation ("AFC") leaving a balance of $7.9 million scheduled to be fully repaid by the end of 2024

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