REG - Thor Energy PLC - Binding Agreement Signed with DISA Technologies

Thor EnergyAnnouncement

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RNS Number : 4695E  Thor Energy PLC  23 October 2025

23 October 2025

 

Thor Energy PLC

 

("Thor" or the "Company")

 

Full Binding Agreement Executed to Treat Colorado Project Uranium Waste Dumps
and Gross Revenue Sharing Agreement with DISA Technologies to Produce Uranium
and other Critical Minerals

 

Final U.S. Nuclear Regulatory Commission Licence Granted to DISA

 

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce
the signing of a binding agreement (the "Agreement") with DISA Technologies,
Inc. ("DISA") to seek to evaluate and if successful, treat historically
abandoned uranium mine waste dumps ("Waste") and being able to recover
saleable uranium and other critical minerals concentrates at Thor's Colorado
uranium claims (the "Colorado Projects"). This follows on from the
announcement of the signing of a binding term sheet with DISA(( 1  (#_ftn1)
)).

 

Furthermore, DISA has now received its final U.S. Nuclear Regulatory
Commission ("NRC") Service Providers License ("SPL") to remediate abandoned
uranium mine waste. This paves the way for a deployment of DISA's patented
technology on the Colorado Projects in the future.

 

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 in Colorado in the United States, along with the 75%
holder, London-listed Metals One PLC (AIM: Met1).

 

Highlights:

·    Full binding agreement signed whereby Standard is 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.

·    DISA has now received its final U.S. NRC Service Providers License to
remediate abandoned uranium mine waste.

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

·    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 will pay all
associated costs of economic evaluation, permitting, treatment and ongoing
remediation.

 

Andrew Hume, Managing Director and CEO, commented:

"We are pleased to announce the execution of the full binding agreement with
DISA, following on from our previously announced binding term sheet. This
agreement finalises the details under which Thor will potentially generate
revenue from the recovery of uranium and critical metals from its Colorado
Projects. It is also fantastic to report that the U.S. Nuclear Regulatory
Commission has granted DISA a Service Provider's License to remediate
abandoned uranium mine waste. DISA is now the first Company in the U.S to
receive such approvals. We look forward to reporting to shareholders the
commencement of on-the-ground activities as the parties move towards a uranium
and critical metals production scenario."

 

Advantages of HPSA:

·    The HPSA process treats surface dumps of previously partially mined
and aggregated material.

·    DISA has been working with the U.S. NRC since 2021 on a robust
licensing process, which has now concluded, making DISA the first company to
receive an 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(( 2  (#_ftn2) )).

·    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: 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 local 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. Potential revenue cannot yet be quantified until
assay and gamma probe programs are performed.

 

-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

 

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 revolutionising mineral recovery with
its 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, they 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. For more information, visit
www.DISAusa.com

 

 1  (#_ftnref1) Refer to THR Announcement dated 4 September 2025.

 2  (#_ftnref2)
https://www.disausa.com/_files/ugd/01023f_fa40141ed3d8492fbffbb41f785e788f.pdf
(https://www.disausa.com/_files/ugd/01023f_fa40141ed3d8492fbffbb41f785e788f.pdf)

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