Thor Energy Receives A$2.25M Completion Payment, Strengthening Path to Natural Hydrogen and Helium Development

Thor Energy plc (AIM, ASX: THR; OTCQB: THORF) announced the receipt of a A$2,250,000 cash completion payment following the satisfaction of all conditions precedent related to the sale of its Molyhil Tungsten–Molybdenum–Copper Project in the Northern Territory, Australia. The payment forms part of a previously announced transaction with ASX-listed Tivan Limited and represents a major non-dilutive funding milestone for the Company.

The transaction relates to the sale of Thor’s 75% interest in the FRAM Joint Venture, which holds the Molyhil Project. With this payment now received, Thor is set to collect three additional deferred payments totaling A$3,937,500, payable annually between September 2026 and September 2028. These future payments may be settled in cash, shares, or a combination thereof at Tivan’s election, bringing total proceeds to Thor of A$6,562,500.

Importantly, the monetization of Molyhil significantly strengthens Thor’s balance sheet without shareholder dilution, providing the Company with increased financial flexibility as it advances its HY-Range Natural Hydrogen and Helium Project in South Australia, now firmly established as its core strategic focus.

Chairman Alastair Clayton commented that the transaction delivers “more resources to advance Hy-Range and less dilution to achieve this,” underscoring the strategic importance of asset recycling to fund next-generation energy projects.

In parallel, Thor noted that the strengthened cash position also supports continued progress across its broader portfolio, including the Alford East Copper–Gold assets in South Australia, while allowing management to concentrate capital and technical efforts on hydrogen and helium exploration.

Full press release is attached:

Molyhil Sale Update - A$2,250,000 Completion Payment Received

Three additional payments totalling A$3,937,500 due between September 2026 and September 2028, bringing total sale proceeds to Thor of A$6,562,50

Thor Energy plc (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the receipt of the cash completion payment for A$2,250,000, pursuant to the term sheet (“Term Sheet”) executed with ASX-listed Tivan Limited (ASX:TVN) (“Tivan”) for the sale of the tenements and associated mining information comprising the FRAM Joint Venture (“FRAM”), which holds the Molyhil Tungsten/Molybdenum/Copper Project (“the Project”) in the Northern Territory, Australia, as announced on 16 September 20251. Thor holds 75% of the FRAM JV via its subsidiary Molyhil Mining Proprietary Limited (“Molyhil”), with ASX-Listed Investigator Resources Limited (“Investigator” or “IVR”) (ASX: IVR) holding the remaining 25%.

Highlights:
• Conditions precedent to the sale of the Project have been met to the satisfaction of Tivan and the FRAM JV partners, triggering a cash payment to Thor of A$2,250,000.
• As outlined below, commencing in September 2026, three successive annual deferred completion payments totalling A$3,937,00, until September 2028, payable in cash, shares or a combination at Tivan’s election. This will bring the total sale proceeds to Thor of A$6,562,500.
• Significant, non-dilutionary boost to Thor’s cash position strengthens the Company’s position to advance its core HY-Range natural Hydrogen and Helium Project in South Australia.
• Also provides further financial resources to further progress the Company’s  existing Alford East Copper-Gold portfolio in South Australia, with an announcement outlining our metals strategy to be released soon.

"We are exceptionally pleased to report that the conditions precedent have been met to trigger the payment of A$2,250,000 to Thor.

For Thor shareholders, the monetisation of Molyhil has already led to a significant inflow of cash to the Company, and there will be three further annual payments of A$1,312,500 commencing from this September. This means more resources to advance Hy-Range and less dilution to achieve this.

Furthermore, following the significant new external investment into our 20%-owned EnviroCopper Limited2, a leading ISL Copper company, we now turn our attention to our 80% interest in the nearby Alford East Copper Portfolio which we have chosen to retain. We look forward to updating shareholder son our 2026 plan for these assets soon.”

-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 or please contact the following:

Thor Energy PLC
Andrew Hume, CEO & Managing Director
Alastair Clayton, Non-Executive Chairman
Rowan Harland, Company Secretary
Tel: +61 (8) 6555 2950

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/.

About Tivan Limited
Tivan Limited is an ASX listed critical minerals company headquartered in Darwin in the Northern Territory currently advancing its Speewah Fluorite Project in Western Australia in conjunction with Sumitomo and its Sandover Fluorite Project in The Northern Territory as well as its Turiscai Project in Timor-Leste.

2 RNS “External Investment of A$3.5m into ECL & its Copper Projects” - 27 October 2025