REG - Thor Explorations Ld - Update on Press Speculation

Thor ExplorationsAnnouncement

01/10/2024 12:00

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RNS Number : 4815G  Thor Explorations Ltd  01 October 2024

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 01 October 2024  TSXV/AIM: THX

Update on Press Speculation

 

Thor Explorations Ltd. (TSXV / AIM: THX) ("Thor Explorations" or the
"Company") issues the following statement, following further to its news
release dated 30 September 2024, in response to additional press commentary.

 

On Monday 30(th) September, the representatives of Osun State served a notice
to Segilola Resources Operating Limited ("SROL") from a state magistrates
court to seal the Segilola Mine site over unpaid outstanding taxes amounting
to N99,347,105 (approximately US$62,500). SROL has now paid the full
outstanding amount despite not being given the stipulated 30 days to review.

 

There was no disruption to operations at Segilola which continued as normal
and remain unaffected.

 

The Company is in dialogue with the Federal Ministry of Mines, the regulator
of the sector to prevent any such action from occurring again.

 

 

- Ends-

 

Please contact:

 

Thor Explorations Ltd

Email: info@thorexpl.com (mailto:info@thorexpl.com)

 

Canaccord Genuity (Nominated Adviser & Broker)

Henry Fitzgerald-O'Connor / James Asensio / Harry Rees

Tel: +44 (0) 20 7523 8000

 

Hannam & Partners (Broker)

Andrew Chubb / Matt Hasson / Jay Ashfield / Franck Nganou

Tel: +44 (0) 20 7907 8500

 

Fig House Communications (Investor Relations)

Tel: +1 416 822 6483

Email: investor.relations@thorexpl.com
(mailto:investor.relations@thorexpl.com)

 

Yellow Jersey PR (Financial
PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay

Tel:  +44 (0) 20 3004 9512

thorexplorations@yellowjerseypr.com
(mailto:thorexplorations@yellowjerseypr.com)

 

BlytheRay (Financial
PR)

Tim Blythe / Megan Ray / Said Izagaren

Tel: +44 207 138 3204

 

About Thor Explorations

 

Thor Explorations Ltd. is a West Africa focused gold exploration, development
and production with projects located in Nigeria and Senegal. Thor holds a 100%
interest in its flagship Segilola Gold Project, located in Osun State,
Nigeria. Mining and production commenced at Segilola in 2021, with first-year
annual production of 95,000 ounces. Thor holds a 70% interest in the Douta
Gold Project located in south-eastern Senegal, in partnership with local
company International Mining Company ("IMC"). Thor trades on both the AIM and
TSX Venture Exchanges under the symbol "THX".

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