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Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration, development and
production of mineral properties located in Nigeria, Senegal and Cote d’Ivoire. Thor Explorations holds a 100% interest in
the Segilola Gold Project located in Osun State, Nigeria and has a 70% interest in the Douta Gold Project located in southeastern Senegal. In Cote d’Ivoire, Thor Explorations has also recently acquired a 100% interest of the Guitry Gold Project ,
as well as entering into two further option agreements to earn up to an 80% interest in the Marahui and Boundiali
Exploration licences. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol “THX”.

At Segilola, In 2025, Thor has entered into its fourth full year of production, having produced 85,057 ounces of gold in
2024, 84,609 ounces in 2023, and 98,006 ounces in 2022. Early results of near mine exploration drilling programs confirm
mineralisation below the pit design.

At Douta, having provided an updated Mineral Resource Estimate of 1.78 million ounces; workstreams in support of a
Preliminary Feasibility Study were advanced in 2024. Drilling has confirmed continuity of gold mineralisation with several
high grade intersections. The discovery of additional prospects have justified an accelerated drilling program.

In Cote d’Ivoire, at Guitry, Thor is assessing the legacy database and planning for target-generative geochemical surveys.
Soil geochemical sampling was conducted at Boundiali, identifying a gold-in-soil anomaly in the eastern sector. Further
infill sampling is planned. Exploration activities at the Marahui Permit were initiated in Q4 2024

In Nigeria, regional exploration efforts continued. Thor delineated a 10 by 5km area of gold anomalism approximately
52km south of Segilola. Thor secured new exploration tenure covering the area. A follow-up exploration program
commenced in the period over selected geochemical targets and has continued in 2025