Thor Mining : 28/11/2016 Appendix 3B

Name of entity

Thor Mining PLC

ABN

121 117 673

1

+Class of+securities issued or to be issued

1. Ordinary shares / CDIs

2. CDIs

3. Ordinary Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

1. Transfers of 7,000,000 to ASX listed CDI's from AIM listed shares on the AIM Market of the London Stock Exchange, during the period 4 November 2016 to 25 November 2016.

2. Issue of 430,622,010 CDIs on 25 November 2016, to Directors and former Directors in lieu of amounts owed for Directors Fees through to 30 September 2016.

3. Issue of 15,948,963 Ordinary Shares on 25 November 2016, to a Director in lieu of amounts owed for Directors Fees through to 30 September 2016.

Thereby increasing the total number of securities, listed on both AIM and ASX, to 7,928,958,483 as at 25 November 2016.

3

Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for payment; if+convertible securities, the conversion price and dates for conversion)

This represents:

1. Transfers of 7,000,000 to ASX listed CDI's from AIM listed shares on the AIM Market of the London Stock Exchange, during the period 4 November 2016 to 25 November 2016.

2. Issue of Ordinary Fully Paid Shares as ASX quoted CDIs.

3. Issue of Ordinary Fully Paid Shares quoted on AIM.

4

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

1. Yes.

2. Yes.

3. Yes.

5

Issue price or consideration

a) N/A

b) A$0.000418 (0.0418 cents) per CDI. The issue price was based on a one month VWAP for AIM traded Shares through to 10 October 2016 of £0.000256, converted to AUD at the exchange rate of 0.6119 at 10 October 2016. Total consideration A$180,000.

c) A$0.000418 (0.0418 cents) per CDI. The issue price was based on a one month VWAP for AIM traded Shares through to 10 October 2016 of £0.000256, converted to AUD at the exchange rate of 0.6119 at 10 October 2016. Total consideration A$6,667.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

1. Transfers of 7,000,000 to ASX listed CDI's from AIM listed shares on the AIM Market of the London Stock Exchange, during the period 4 November 2016 to 25 November 2016.

2. Issued in lieu of cash payment for Directors Fees owing through to 30 September 2016.

3. Issued in lieu of cash payment for Directors Fees owing through to 30 September 2016.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6hin relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

24 November 2016

6c

Number of +securities issued without security holder approval under rule 7.1

N/A

6d

Number of +securities issued with security holder approval under rule 7.1A

N/A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

1. N/A.

2. 430,622,010 Ordinary shares (as CDIs).

3. 15,948,963 Ordinary shares.

AGM date 24 November 2016.

6f

Number of securities issued under an exception in rule 7.2

N/A

6g

If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements.

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

Refer attached Annexure 1

7

Dates of entering +securities into uncertificated holdings or despatch of certificates

1. Transfers: 4 November 2016 to 25 November 2016.

2. 25 November 2016 (UK business hours)

3. 25 November 2016 (UK business hours)

Number and +class of all

+securities quoted on ASX (including the securities in section 2 if applicable)

Number

+Class

2,774,119,029

Ordinary Shares quoted by ASX ("THR" as CDIs) as at 25 November 2016.

Number and +class of all

+securities not quoted on ASX (including the securities in section 2 if applicable)

5,154,839,454

1,200,000,000

400,000,000

1,000,000,000

346,000,000

500,000,000

250,000,000

Ordinary Shares admitted to the AIM Market of the London Stock Exchange, as at 25 November 2016.

Unlisted Options:

0.05 pence unlisted warrants expiring 1 December 2018.

0.05 pence unlisted warrants expiring 5 March 2019.

0.05 pence unlisted warrants expiring 7 April 2019.

0.05 pence unlisted warrants expiring 11 April 2019.

0.05 pence unlisted warrants expiring 26 July 2019.

0.05 pence unlisted warrants expiring 2 September 2019.