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Thor Announces New Director Appointed to the Board

December 23, 2016


Following Thor Explorations Ltd’s (TSX VENTURE:THX) ("Thor" or the "Company") Annual General Meeting on December 15, 2016, the Company is pleased to announce the addition of Mr. Adrian Coates to the Board of Directors.

Mr. Adrian John Geoffrey Coates has over 20 years' experience in the mining sector and his City experience is extensive. He served as the Global Sector Head of Resources and Energy Group, Global Banking and Markets Division of HSBC Bank plc until 2008 with strategic responsibility for its relationships and businesses with major clients globally in the resources and utilities sectors. He was the Lead HSBC Banker on a number of large scale metals and mining transactions. At HSBC, his advisory clients included Randgold Resources. He was cited in the press as "HSBC's star advisory banker" and named in Financial News' "Top 20 European Dealmakers" in late 2007. He has also held senior roles in UBS, Warrior International and Credit Suisse First Boston with a specialisation in the resources sector. He served as Managing Director, Metals and Mining at UBS Investment Bank, London and was responsible for originating the landmark Billiton IPO, a deal which both restarted the London mining market and set a precedent for the subsequent influx of emerging market companies. He has been a Non-Executive Director of Regal Petroleum plc since 2008. He served as a Senior Independent Non-Executive Director of Polyus Gold International Limited from 2011 until 2015 when the company was taken private. He served as an Independent Non-Executive Director of Kazakhgold Group, Ltd from 2010 until 2011 when the company was acquired. In his non-executive career, he has also served as an Adviser to a number of leading mining companies. Mr. Coates holds an MA degree in Economics from Cambridge University and an MSc (MBA) from London Business School.

The Company’s board of directors now consists of Mr. Segun Lawson, Mr. Adrian Coates, Mr. Folorunso Adeoye and Mr. Kayode Aderinokun.

About Thor

Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor holds a 100% interest in the Segilola Gold Project in Osun State Nigeria approximately 120km northeast of Lagos. The Segilola Gold Project is considered to be the most advanced gold project in Nigeria. Thor holds a 70% interest in the Douta Gold Project located in southeastern Senegal. The Douta Gold Project lies within the Kéniéba Inlier which hosts significant gold resources and has attracted major international mining companies. Thor also holds a 100% interest in the Bongui and Legue gold permits located in Houndé greenstone belt, south west Burkina Faso. Thor trades on the TSX Venture Exchange under the symbol "THX".


Per: "Segun Lawson"
President & CEO

For further information please contact:

Tel: 778-373-0102
Fax: 604-434-1487

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to the use of the proceeds of the private placement. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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