Thor Explorations Ltd. press release

Thor Exploration Ltd: Director Dealing

2022-03-04

TSXV - TSX Venture Exchange · Gold · Lithium · Canada · Management & Governance

Vancouver, British Columbia--(Newsfile Corp. - March 4, 2022) - Thor Explorations Ltd. (TSXV: THX) (TSXV: AIM) ("Thor Explorations" or the "Company") announces that Mr. Adrian Coates, Non-Executive Chairman, has carried out a "Bed and ISA" transaction, having transferred 125,000 Common Shares from his share dealing account to his ISA on 2 March 2022.

The beneficial holding of Mr. Coates (and persons closely associated with him) is unchanged following this transaction and Mr. Coates remains beneficially interested in 1,350,000 Common Shares representing approximately 0.21% of the total issued share capital in the Company.

For further information please contact:

Thor Explorations Ltd Email: info@thorexpl.com

Canaccord Genuity (Nominated Adviser & Broker) Henry Fitzgerald-O'Connor / James Asensio / Thomas Diehl

Tel: +44 (0) 20 7523 8000

Hannam & Partners (Broker) Andrew Chubb / Matt Hasson / Nilesh Patel / Franck Nganou

Tel: +44 (0) 20 7907 8500

Fig House Communications (Investor Relations) Tel: +1 416 822 6483 Email: investor.relations@thorexpl.com

Blytheweigh (Financial PR) Tim Blythe / Megan Ray / Rachael Brooks Tel: +44 207 138 3203

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. WIRE SERVICES

NOTIFICATIONAND PUBLIC DISCLOSURE OF TRANSACTIONS BYPERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

| 1 | Detailsof the person discharging managerialresponsibilities/person closely associated

| | | a) | Name | Adrian Coates | | 2 | Reason for thenotification

| | | a) | Position/status | Non-Executive Chairman | | b) | Initial notification/ Amendment | Initial notification | | 3 | Detailsof the issuer, emission allowance market participant,auctionplatform, auctioneer or auction monitor

| | | a) | Name | Thor Explorations Ltd. | | b) | LEI | 213800AXZ8468CQYVT76 | | 4 | Detailsof the transaction(s): section to be repeated for (i) each typeof instrument;(ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

| | | a) | Description of the financial instrument, type of instrument

Identification code | Common Shares of no par value

CA8851491040 | | b) | Nature of the transaction | 1. Sale of Common Shares from share dealing account 2. Purchase of Common Shares into ISA account | | c) | Price(s) and volume(s) | | Price(s)

| Volume(s) | | 16.00 pence | 125,000 | | | d) | Aggregated information

Aggregated volume

Price | | Price(s)

| Volume(s) | Total | | 16.00 pence | 125,000 | £20,000.00 | | | e) | Date of the transaction | 2 March 2022 | | f) | Place of the transaction | Outside a trading venue | | | | |

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