REG - Thor Energy PLC - Completion of HY-Range Phase 2 Geochemical Survey

Thor EnergyAnnouncement

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RNS Number : 7995W  Thor Energy PLC  17 March 2026

17 March 2026

 

Thor Energy PLC

("Thor" or the "Company")

 

Completion of HY-Range Phase 2 Natural Hydrogen and Helium Geochemical Survey

 

Thor Energy Plc (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the
successful, safe and on-budget completion of its Phase-2 Geochemistry survey
at the company's 80.2%-owned HY-Range natural hydrogen exploration project,
within Regulated Substance Exploration Licence (RSEL) 802, South Australia.

 

Highlights:

·     Survey Completion: The extensive sampling programme successfully
concluded following a rigorous three-month test period.

 

·    Building on Discovery: The survey was specifically designed to build
upon the outstanding data results and innovative techniques developed during
the Phase 1 survey in May 2025, which recorded highly elevated natural
hydrogen up to 3,000 ppm(1), or approximately 6000 times the normal background
value, along with helium anomalies.

 

·      Core Objectives Achieved: The campaign successfully fulfilled all
its primary design goals:

1.   Targeted Infill: adding exploration knowledge by increasing coverage
of Phase-1 low coverage areas and enhancing density in Thor's high focus
exploration areas, with results confirming Phase-1 outcomes.

2.   Robust Sampling: removing the risk that results could be explained as
anthropogenic (man-made) sample contamination, rather than authentic natural
hydrogen, was imperative. Learning from and evolving Phase-1 techniques, Thor
and its contractor, SGS, developed rigorous sampling methodologies to deliver
robust data acquisition and confidence in Phase-1 and Phase-2 results.

3.   Technique Evolution: Evolving and innovating through the planning and
execution of Phase-2 to refine acquisition and sampling processes for future
programmes.

 

Follow-up news: The preliminary analysis of the acquired survey data is
currently underway, with the Company expecting to announce the results to
shareholders in the coming weeks.

 

Andrew Hume, Managing Director of Thor Energy, commented:

"We are delighted to report the highly successful completion of our phase-2
geochemistry survey at the HY-Range Project, safely and on-budget. Following
the exceptional natural hydrogen and helium readings recorded in May 2025, it
was imperative that we further evolve our techniques to ensure that sampling
is as robust as possible. This required us to add new locations to expand
coverage and deliver further resolutions to focus areas. We have successfully
delivered all our goals, effectively eliminating the risk of man-made
contamination, refining our techniques and optimising increased data volume
and fidelity.

 

"We are currently undertaking preliminary analysis of the data and look
forward to sharing these results with the market as we continue to
aggressively advance the HY-Range Project."

 

Operations Overview

Phase 2 geochemistry operations commenced with the installation of sample
holes across targeted areas of the RSEL 802 licence. Over a subsequent
three-month period, samples were systematically extracted and analysed,
without fears of potential contamination. The programme was conducted
rigorously, safely, and entirely on budget, fulfilling all operational and
technical objectives.

 

This survey marks a critical evolution in Thor's exploration maturity at
HY-Range. During the Phase 1 survey of May 2025, Thor identified excellent
natural hydrogen readings, locally exceeding 1,000ppm in several locations and
peaking at 3,000ppm. Whilst soil gas sampling carries inherent risks of
anthropogenic (man-made) contamination, Phase-2 was explicitly designed to
mitigate this risk and deliver robust sampling to increased data coverage and
sample density.

 

With the field acquisition phase now successfully completed, Thor's technical
team is conducting preliminary analysis of the results to further refine
subsurface models of hydrogen and helium generation, migration, and trapping.
Results of the survey will be announced once data reduction and preliminary
analysis are complete.

 

Concurrently, Thor is in the final stages of tendering for a 2D exploration
seismic survey, which will deliver the first-of-its-kind data over the most
prospective parts of RSEL-802. The survey is planned for later this year, with
the results expected to provide the data necessary to integrate our
geochemical and geophysical analysis and lead to the location and planning of
subsequent exploration wells.

 

-ENDS-

 

The Board of Thor Energy Plc has approved this announcement and authorised its
release.

 

For further information on the Company, please visit the website,
(https://thorenergyplc.com/) or please contact the following:

 

Thor Energy PLC

Andrew Hume, Managing Director

Alastair Clayton, Non-Executive Chairman

Rowan Harland, Company Secretary

Tel: +61 (8) 6555 2950

 

Zeus Capital Limited (Nominated Adviser and Joint Broker)

Antonio Bossi / Darshan Patel / Liv Highton

Tel: +44 (0) 203 829 5000

 

SI Capital Limited (Joint Broker)

Nick Emerson

Tel: +44 (0) 1483 413 500

 

Yellow Jersey (Financial PR)

Dom Barretto / Shivantha Thambirajah

thor@yellowjerseypr.com

Tel: +44 (0) 20 3004 9512

 

About Thor Energy Plc

The Company is focused on both hydrogen and helium exploration, along with the
exploration for copper, gold, uranium, and other energy metals.

 

For further information on Thor Energy and to see an overview of its projects,
please visit the Company's website at https://thorenergyplc.com/
(https://thorenergyplc.com/) .

(1) The Company confirms that it is not aware of any new information or data
that materially affects the previously disclosed geochemical results referred
to in this announcement. Information included in the original market
announcement dated 7 July 2025 is that the form and context in which the
Competent Person's findings are presented have not been materially modified
from the original market announcements.

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