Thor Energy Reports Elevated Hydrogen and Helium Readings at HY-Range Project; CEO Appointed

Thor Energy PLC (AIM, ASX: THR, OTCQB: THORF) has announced promising results from its recent soil geochemistry survey at the HY-Range Project (RSEL 802) in South Australia, confirming the presence of elevated natural hydrogen and helium concentrations.

Key findings include hydrogen values exceeding 1,000ppm in multiple locations, with a peak reading of 3,000ppm, roughly 6,000 times typical background levels. Helium was also recorded at up to 27ppm, five times the expected background. These results delineate four high-priority zones for future exploration: Mallala, Locheil, Crystal, and Mt Lock.

The company plans to focus near-term work on validating these findings through denser sampling and deeper analysis to refine drilling targets. Thor’s leadership views these results as a significant de-risking step for the project’s potential commercial viability.

In parallel, Thor Energy announced the promotion of Andrew Hume to CEO and Managing Director, acknowledging his role in driving corporate restructuring, fieldwork, and licensing achievements since joining the company earlier this year.

This dual update underscores Thor Energy’s strategy to position itself as a key player in the emerging hydrogen and helium market while leveraging South Australia’s geological advantages.

Full press release is attached below:

07 July 2025

Thor Energy PLC

("Thor" or the "Company")

Outstanding Geochemical Results Demonstrate Prolific Hydrogen and Helium Systems at HY-Range Project in South Australia

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce positive results of its recent soil geochemistry study at its HY-Range project (RSEL 802) in South Australia.

Highlights:

·    Positive results with significantly elevated hydrogen and helium

·    Several natural hydrogen values more than 1,000ppm, with highest reading of 3,000ppm (approximately 6,000 times background values)

·    Helium detected up to 27ppm (greater than five times background values)

·    Four high-grade focus areas identified for future exploration focus

·    This significantly advances prospect definition, ranking and site selection for exploration drilling

Andrew Hume, Managing Director of Thor Energy, commented:

"The results from our geochemical survey at HY-Range (RSEL 802) are very promising and effectively derisk the presence of active and potentially prolific natural hydrogen and helium systems in our licence. This is a major achievement and establishes the HY-Range project as a highly prospective licence for natural hydrogen and helium exploration. The data is also proving critical to high-grade the acreage and to define the highest potential areas for natural hydrogen and helium. These findings allow us to focus our resources effectively as we undertake necessary work to define and high-grade drilling targets for exploration drilling. This is a very exciting development for Thor Energy and our promising natural hydrogen and helium project."

Geochemical Survey Yields Highly Encouraging Results

Thor Energy recently acquired soil geochemical gas sampling (also known as Soil Air, Soil gas analysis, or Soil vapor testing) across its HY-Range (RSEL 802) natural hydrogen and helium exploration licence in South Australia (Figure 1). Analysis of the data has been performed and has yielded very positive results, with a high percentage of elevated hydrogen values in numerous areas of the licence, locally exceeding 1,000ppm in several locations, and up to 3,000ppm at one sample point (compared to typical background atmospheric values of 0.5ppm). Locally elevated helium readings were also recorded up to 27ppm (compared to typical background atmospheric values of 5ppm). Whilst soil gas sampling can be inherently prone to anthropogenic hydrogen contamination and sample bias, the distribution of the values strongly correlates with mapped geological features and supports the natural origin of these highly elevated readings. Helium is not prone to similar potential contamination risk, and as such, collectively, and when taken in the context of regional geological and industry activity (Figure 2a), these results provide striking evidence to prove the presence of both strong natural hydrogen and helium generation and migration within RSEL 802.

The data has allowed the high grading of areas of significant interest within the licence. Four principal focus areas have been high graded (Figure 2b), these being:

·    Mallala area, located approximately 40 km north of central Adelaide

·    Locheil area, located in vicinity of the township of Locheil

·    Crystal area, an elongate area extending south southeasterly from the township of Crystal Brook

·    Mt Lock area, an area 10 km northwest of the township of Jamesto

 Managing Director Promotion to Chief Executive Officer

Thor Energy Plc also announces that Thor Managing Director Andrew Hume, who joined Thor Energy in February 2025, will assume the role of Chief Executive Officer ("CEO") and Managing Director ("MD") with immediate effect. Since joining, Mr Hume has overseen the successful conclusion of the acquisition of Go Exploration, conducted critical fieldwork, relinquished low-priority mineral exploration acreage, and secured three new co-located gas storage licenses, adjacent to RSEL802, which offer a novel potential advantage for hydrogen exploration and commercialisation in South Australia. Mr Hume's remuneration remains unchanged.

In line with the plan, Alastair Clayton will resume the role of Non-Executive Director Chairman.

Andrew Hume, incoming CEO of Thor Energy, commented:

"Alastair and I discussed a succession plan some time ago whereby the Company would have one Executive Director, as is appropriate for the present size of the Company. With much of the corporate restructuring now complete and our HY-Range Project plans now accelerating, Alastair informed me that he wished to resume his previous role as Non-Executive Chairman and that the Board had requested that I take the role of CEO and MD, to which I gladly accepted."

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, Managing Director

Alastair Clayton, Non-Executive Chairman

Rowan Harland, Company Secretary

Tel: +61 (8) 6555 2950