Thor Explorations Announces Third Quarter 2026 Financial and Operating Results, for the Three Months Ending September 30, 2026

(AIM: THX) (TSXV: THX) Thor Explorations Ltd. reported its operational and financial results for Q3 2026, covering the Segilola Gold mine in Nigeria and exploration properties in Nigeria, Senegal, and Côte D'Ivoire. The company sold 19,000 ounces of gold at an average price of US$4,280 per ounce, with a cash operating cost of US$754 per ounce sold and an all-in sustaining cost (AISC) of US$993 per ounce sold. Revenue for the quarter was US$81.3 million, up from US$69.9 million in Q3 2025. Net profit reached US$47.3 million (Q3 2025: US$43.1 million), and EBITDA was US$56.9 million (Q3 2025: US$51.4 million). Adjusted net cash stood at US$236.6 million at quarter-end (Q3 2025: US$81.0 million). At Segilola, 15,515 ounces of gold were poured, with 249,607 tonnes of ore processed at a throughput rate of 2,957 tonnes per day and a mill feed grade of 2.10 g/t Au. Process plant recovery averaged 92.8%. Ore mined totaled 303,602 tonnes at an average grade of 1.69 g/t Au, and the ore stockpile decreased by 109 ounces to 58,322 ounces at an average grade of 0.72 g/t Au. The stockpile is equivalent to approximately two years of process plant supply. The Segilola life of mine extension drilling program continued, focusing on depth extensions in the Northern and Southern Zones, with further results expected in Q4 2026. Regional exploration included geochemical sampling and a drone magnetic survey over the Western Prospects, with data submitted for analysis. At Douta in Senegal, RC drilling continued on the Bousankhoba Permit, targeting a 10 km corridor, with an updated Mineral Resource Estimate targeted for Q4 2026. In Côte D'Ivoire, exploration at the Marahui Project included 7,385 metres of RC drilling in 64 holes, with significant intercepts such as 6 m at 5.60 g/t Au (MRRC26-008), 9 m at 5.40 g/t Au (MRRC26-012), 6 m at 6.20 g/t Au (MRRC26-115), 8 m at 3.60 g/t Au (MRRC26-053), 8 m at 3.40 g/t Au (MRRC26-143), and 5 m at 3.60 g/t Au (MRRC26-052). Drilling has tested about 30% of the geological trend, with additional anomalies scheduled for testing. No Lost Time Injuries were recorded in Q3 2026. Raw-water withdrawal declined by 46% to 30.01 million litres, reclaimed water use increased by 3%, greenhouse gas emissions totaled 8,668 tonnes CO₂ equivalent (24% below Q3 2025), and waste intensity improved by 82%. Community investment included commissioning nine minibuses, providing six oil-palm and four cassava-processing plants, and a medical outreach program attended by over 2,000 residents in Nigeria. In Senegal, the Phase 1 ESIA for Douta was approved in January 2026, and relevant permits were obtained. In Côte d'Ivoire, the Ngnira Gold community team began implementing the Education, Health and Social Action Plan. Production guidance for 2026 was revised to 70,000–72,000 ounces (from 75,000–85,000 ounces) due to severe rainfall, with AISC guidance maintained at US$1,000–US$1,200 per ounce. The company is in final discussions with the Government of Senegal for the Douta Mining Convention. Thor Explorations maintains a quarterly dividend policy of CAD$0.0125 per share. Segun Lawson is President & CEO. The technical content was reviewed and approved by Alfred Gillman (Fellow AusIMM, CP), the designated qualified person.

Thor Explorations Ltd Di — Q2 & H1 2026 FINANCIAL & OPERATING RESULTS

(AIM:THX) Thor Explorations Ltd. announced financial and operating results for the three and six months ending June 30, 2026, reporting Q2 2026 revenue of US$77.6 million, EBITDA of US$55.4 million, and net profit of US$48.7 million. The company sold 17,050 ounces of gold in Q2 2026 at an average price of US$4,554 per ounce, with a cash operating cost of US$760 per ounce sold and an all-in sustaining cost of US$1,262 per ounce sold. Gold poured totalled 19,153 ounces for Q2 2026, and 39,409 ounces for H1 2026, with a mill feed grade of 2.57 g/t Au and recovery at 93.3%. Adjusted net cash was US$218.6 million as at June 30, 2026, including gold bullion inventory of 6,367 ounces valued at US$25.5 million. The company completed 10,614 metres of diamond drilling at Segilola and 19,356 metres of reverse circulation drilling in Senegal during Q2 2026. Raw water withdrawals at Segilola decreased by 36% to 31.24 megalitres, and total greenhouse gas emissions decreased by approximately 16% to 9,818 tonnes of CO₂e in Q2 2026. FY2026 production guidance is maintained at 75,000 to 85,000 ounces, with AISC guidance of US$1,000 to US$1,200 per ounce.

Thor Explorations Announces Financial and Operating Results, for the Three and Six Months Ending June 30, 2026

(AIM: THX) (TSXV: THX) Thor Explorations Ltd. reported Q2 2026 revenue of US$77.6 million, EBITDA of US$55.4 million, and net profit of US$48.7 million. The company sold 17,050 ounces of gold in Q2 2026 at an average price of US$4,554 per ounce, with a cash operating cost of US$760 per ounce sold and an all-in sustaining cost of US$1,262 per ounce sold. Gold poured totalled 19,153 ounces for Q2 2026, and 39,409 ounces for H1 2026. Adjusted net cash was US$218.6 million as at June 30, 2026, including gold bullion inventory of 6,367 ounces valued at US$25.5 million. The company completed 10,614 metres of diamond drilling at Segilola and 19,356 metres of reverse circulation drilling plus 6,150 metres of RAB/AC drilling in Senegal during Q2 2026. Raw water withdrawals at Segilola decreased by 36% to 31.24 megalitres, and total greenhouse gas emissions decreased by approximately 16% to 9,818 tonnes of carbon dioxide equivalent in Q2 2026.

Thor Explorations Announces Q2 2026 Operating Update

(TSXV:THX, AIM:THX) Thor Explorations Ltd. reported Q2 2026 gold poured of 19,153 ounces from the Segilola Gold Mine in Nigeria. Gold sales in Q2 2026 were 17,050oz at an average realised price of US$4,535, resulting in revenue of $77.3 million. Gold was produced from 240,769 tonnes milled at an average grade of 2.57 g/t, with process plant recovery at 93.3%. The company ended Q2 with a cash balance of $207.5 million and gold bullion inventory of 4,514oz, for an adjusted net cash position of $225.6 million. The FY 2026 production guidance range is maintained at 75,000 to 85,000 oz of gold, and the All-in Sustaining Cost guidance range is $1,000 to $1,200 per oz. Over 20,000 metres of drilling programs were carried out across the exploration portfolio, with results to be released in the current period. The next quarterly dividend payment is scheduled for August 14, 2026, at C$0.0125 per share.

Thor Explorations Announces First Quarter 2026 Financial and Operating Results, for the Three Months Ending March 31, 2026

Thor Explorations Ltd. (AIM: THX) (TSXV: THX) released its operational and financial review for Q1 2026, covering its Segilola Gold mine in Nigeria and exploration properties in Nigeria, Senegal, and Cote D'Ivoire. The company sold 15,417 ounces of gold at an average price of US$4,820 per ounce, generating revenue of US$74.3 million, EBITDA of US$55.8 million, and net income of US$46.7 million. Gold poured at Segilola totaled 20,256 oz, with a recovery rate of 93.1%. The Douta Gold Project PFS reported a pre-tax NPV5% of US$908 million and IRR of 73% at a US$3,500/oz gold price, with low initial project capital of US$254 million. The company paid a quarterly and bonus dividend of CAD$0.0275 per share. Environmental and safety performance improved, with no LTIs reported during the quarter and significant reductions in water withdrawal, mineral waste, and carbon emissions. Looking ahead, Thor Explorations targets FY 2026 gold production of 75,000 - 85,000 oz and plans further exploration and permitting activities across its portfolio.

Thor Explorations Announces High-Grade Exploration Results Confirm Expanding Gold Footprint at the Douta Project, Senegal

Thor Explorations Ltd. (AIM: THX) (TSXV: THX) announced its first set of drilling results from its 2026 drilling program at the Douta Project in Senegal, following the completion of the Douta Pre-Feasibility Study earlier this year. The Douta Gold Project currently comprises a total resource of approximately 1.97 million ounces of gold, with an indicated resource of 50.6 million tonnes grading 1.0 g/t Au for 1.7 Moz Au, and an inferred resource of 9.3 Mt grading 0.9g/t Au for 0.27 Moz Au. Current reserves total 36.6 Mt grading 1g/t Au for 1.2 Moz Au. Significant drill results include intersections such as 5.5m at 2.91g/t Au, 7.0m at 4.28g/t Au, and 4m at 17.0g/t Au. The ongoing 40,000 metre drilling program is designed to upgrade inferred mineralisation and test new oxide targets, aiming to extend the life and improve the economics of the project.

Director Change

Thor Explorations Ltd. (AIM: THX) (TSXV: THX) announced the appointment of Mr. Bernard Swanepoel to its Board of Directors, subject to TSX Venture Exchange approval. Bernard Swanepoel is a South African mining executive with 40 years of experience, including 25 years in senior/executive management roles. The company highlighted its recent achievements, including the construction and commercial production of the Segilola Gold Mine in Nigeria, four years of profitable gold production, full repayment of its senior debt facility with AFC, and advancement of the Douta Project in Senegal to the pre-feasibility stage. Thor holds a 100% interest in the Segilola Gold Project in Nigeria and a 70% interest in the Douta Gold Project in Senegal. The company is preparing to build its second mine and transition to underground mining at Segilola.