REG - Thor Energy PLC - Term Sheet to Treat Colorado Project with DISA

Thor EnergyAnnouncement

04/09/2025 07:00

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RNS Number : 8981X  Thor Energy PLC  04 September 2025

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

04 September 2025

Thor Energy PLC

 

("Thor" or the "Company")

 

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue
Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium
and Critical Minerals Production

 

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce
the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc.
("DISA") to seek to evaluate and if successful, treat historically abandoned
uranium mine waste dumps ("Waste") and recover saleable uranium and other
critical minerals concentrates at Thor's Colorado uranium claims. Thor holds
25% ownership rights to uranium minerals on U.S. Bureau of Land Management
("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds
the projects (the "Colorado Projects") in Colorado in the United States, along
with the 75% holder, London-listed Metals One PLC (AIM: Met1).

 

Highlights:

·   Standard to be paid a Gross Revenue Share of any saleable uranium and
other critical mineral concentrates recovered from waste at its Colorado
Projects via deployment of DISA's modular mobile plants utilising the patented
High-Pressure Slurry Ablation ("HPSA") system.

·    No capital expenditure or operating expenditure is payable by
Standard or Thor.

·    Thirteen separate prospective waste dumps have been ground surveyed
at Standard's Colorado Projects; others may be added to this inventory over
time.

·    Standard to receive a percentage of gross product sale revenue
stream, minus certain post-treatment allowable costs. A sliding scale with a
base rate of 2.5%, through to 4.0% in certain metals pricing environments.

·    DISA will be the operator of the Colorado Projects and to pay all
associated costs of economic evaluation, permitting, treatment and ongoing
remediation.

 

Advantages of HPSA:

·   The High-Pressure Slurry Ablation ("HPSA") process treats surface
dumps of previously partially mined and aggregated material.

·    DISA has been working with the U.S. Nuclear Regulatory Commission
(NRC) since 2021 on a robust licensing process, which is expected to conclude
soon. This would make DISA the first company to receive a Service Providers
License (SPL) to remediate abandoned uranium mine waste.

·    Aside from extracting valuable uranium and critical minerals, the
process delivers significant improvements to the local environment and
watersheds by removing, on average, 90% of the uranium and radium-226 content
from the waste, as evidenced by a treatability study DISA completed with the
U.S. Environmental Protection Agency(1).

·     Strong US Government support for domestic recovery of uranium and
critical minerals from legacy mine waste. This activity is directly in line
with the recent Secretarial Order from the Department of the Interior (Order
No. 3436:
(https://www.doi.gov/sites/default/files/document_secretarys_orders/so-3436-critical-and-strategic-minerals-from-mine-waste-2025-07-23-final_signed_508.pdf)
Unlocking Critical and Strategic Minerals from Mine Waste, Cutting Red Tape,
and Restoring American Dominance in Strategic Mineral Production
(https://www.doi.gov/sites/default/files/document_secretarys_orders/so-3436-critical-and-strategic-minerals-from-mine-waste-2025-07-23-final_signed_508.pdf)
).

 

Next Steps:

·    Characterisation program with a combination of assay and gamma probe
to determine likely quantities of uranium and other recoverable minerals
present in the waste dumps and economic evaluation.

·   Application and completion of all requisite permits needed to commence
treatment of waste and recovery of payable concentrates using HPSA technology.

·    Future potential sale of metals concentrates and payment of gross
revenue to Thor via Standard.

·   Parties will immediately move to finalise and execute a more detailed
binding agreement and complete any outstanding conditions precedent to the
transaction.

 

Alastair Clayton, Chairman, commented:

"We are pleased to announce the Term Sheet executed with DISA today to help
facilitate Thor potentially becoming revenue-generating from US uranium and
critical metals production. Moving our US uranium projects forward in a
non-dilutionary manner has been a priority for some time. DISA is a world
leader in its materials upgrading technology, and its patented HSPA process is
considered a revolutionary, non-chemical technology.

 

"Importantly, DISA's NRC licensing process is expected to conclude soon. This
would make DISA the first company to receive a Service Providers License to
remediate abandoned uranium mine waste, a hugely appealing regulatory
framework. A major benefit is that the process does more than just extract
value, it also leaves behind a substantially improved local environment by
remediating these historic legacy sites. Thor looks forward to working with
DISA going forward as we move towards generating revenue from these recycled
materials."

Figure 1 - Example of Gen B modular HPSA components - Source: DISA

-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 / Gabriella Zwarts

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 / Bessie Elliot

thor@yellowjerseypr.com

Tel: +44 (0) 20 3004 9512

 

Competent Person Statement

The information in this report that relates to exploration results and
exploration targets is based on information compiled by Andrew Hume, who holds
a BSc in Geology (Hons). Mr Hume is an employee of Thor Energy PLC. He has
sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the 2012 Edition of
the 'Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves' and is a qualified person under AIM Rules. Andrew Hume
consents to the inclusion in the report of the matters based on his formation
in the form and context in which it appears.

 

About Thor Energy Plc

The Company is focused on Hydrogen and Helium exploration which are crucial in
the shift to a clean energy economy, with a portfolio that also includes
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/) .

 

About DISA Technologies

 

Founded in 2018, DISA Technologies is revolutionizing mineral recovery with
our patented High-Pressure Slurry Ablation (HPSA) technology-an innovative
solution that upgrades critical minerals from mined ore and legacy waste.
Serving both the mining and remediation sectors, we recover valuable resources
that power industry, strengthen energy independence and restore contaminated
sites to productive use. DISA's technology unlocks economic and environmental
value, transforming how the world processes, remediates and recycles essential
mineral assets. DISA is headquartered in Casper, Wyoming, with a satellite
office in Westminster, Colorado.

 

 1 
https://www.disausa.com/_files/ugd/01023f_fa40141ed3d8492fbffbb41f785e788f.pdf
(https://www.disausa.com/_files/ugd/01023f_fa40141ed3d8492fbffbb41f785e788f.pdf)

 

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