Mr. Ibu Lawson reports

THOR ANNOUNCES CORRECTION - EXERCISE OF SHARE OPTIONS

Thor Explorations Ltd. has made a correction to the exercise of share options announcement made on Jan. 21, 2025.

The number of options exercised and received by other contractors was incorrectly reported as 700,000 shares. A total of 790,000 share options were exercised and received by other contractors of the company.

Application has been made for the additional 90,000 shares (the new shares) to be admitted to trading on AIM (Alternative Investment Market) on Jan. 31, 2025. The new shares will also trade on the TSX Venture Exchange and rank pari passu to existing shares.

Following the admission, Thor Explorations' issued share capital will consist of 664,334,710 common shares. The company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the company.

Following this share options exercise, the company has no outstanding share options.

About Thor Explorations Ltd.

Thor Explorations is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100-per-cent interest in the Segilola gold project located in Osun state of Nigeria and has a 70-per-cent economic interest in the Douta gold project located in southeastern Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol THX.