ENCOURAGING MAIDEN EXPLORATION DRILLING RESUL...

---

NEWS RELEASE
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES

15 September 2026

Vancouver, British Columbia

ENCOURAGING MAIDEN EXPLORATION DRILLING RESULTS FROM THE MARAHUI PROJECT, CÔTE D’IVOIRE

Thor Explorations Ltd. (TSXV/AIM: THX) (“Thor” or the “Company”) is pleased to announce encouraging maiden exploration drilling results from its Marahui Gold Project (“Marahui” or the “Licence”) in northeastern Côte d’Ivoire. The project forms part of a portfolio of early-stage exploration licences in Côte d’Ivoire which also includes the 100% owned Guitry Gold Exploration Project, and an option to earn up to an 80% interest in the Boundiali Exploration Permit, located in north-west Côte d’Ivoire.

Highlights

The assay results include:

• Drillhole MRRC26-008 - 6 metres (“m”) at 5.60 grams per tonne (“g/t”) Au from 129m
• Drillhole MRRC26-012 - 9m at 5.40 g/t Au from 40m
• Drillhole MRRC26-115 - 6m at 6.20 g/t Au from 74m
• Drillhole MRRC26-053 - 8m at 3.60 g/t Au from 35m
• Drillhole MRRC26-143 - 8m at 3.40 g/t Au from 50m
• Drillhole MRRC26-052 - 5m at 3.60 g/t Au from 75m

Segun Lawson, President & CEO, stated:

“We are extremely encouraged by this maiden set of drilling results which have followed the initial early exploration success at this Licence.

“These encouraging results show high-grade mineralisation at a significant strike length demonstrating the potential scale of Marahui and are an important step forward for Thor’s exploration portfolio in Côte d’Ivoire. Wide, high-grade intersections which are characterised over a 4km strike length, including 6m at 6.20g/t Au, 9m at 5.40g/t Au and 6m at 5.60g/t Au reinforce our already high confidence in the Licence.

“The scale of the opportunity is particularly encouraging. The drilling to date has identified multiple parallel gold-bearing veins within a shear corridor extending over more than 4 km, yet drilling has tested only approximately 30% of the overall geological trend. With further additional geochemical anomalies already defined within the Licence, we have a clear pipeline of targets to test with our ongoing drilling program.

“Marahui remains at an early stage, and we are delighted to start with these encouraging results which open up a material and exciting new exploration opportunity for Thor. We look forward to testing the additional targets over the coming months and reporting the remaining pending results as we build a clear understanding of the project’s scale and potential.”

Introduction

The Marahui Project comprises exploration permit PR902, covers 250 square kilometres (km²) and is located in the Bondoukou Region of northeastern Côte d’Ivoire (Figure 1).

The Marahui permit is underlain by an arcuate, north-westerly trending sequence, Birimian schistose volcano sedimentary rocks, which are surrounded by intrusive granites. In the contact zone, volcano-sediments show strong foliation and silicification. Observed gold mineralisation is controlled by a NW-SE shear zone in volcano-sediment schists and by extensional WNW-ESE quartz veins in granite.

Previous soil geochemical sampling and geological mapping around artisanal workings identified two parallel anomalous structures. The larger anomaly extends for approximately 4 kilometres (“km”) and is approximately 200m wide. Follow-up rock-chip sampling of material from artisanal workings along this structure confirmed bedrock gold mineralisation, returning values of up to 23.1g/t Au (Figure 2).

Figure 1: Marahui Project Location Map

Marahui Exploration Drilling Results
Thor has carried out 18,439m of its budgeted 25,000m reverse circulation (“RC”) drilling program as part of its ongoing exploration programme, which is focused on a north-westerly-trending line of shallow artisanal workings.

Drill samples are analysed by SGS Laboratories in Yamoussoukro using the FAA505 fire assay method with a 50g charge. Significant intersections are presented in Table 1, and the complete drillhole summary is provided in Appendix 1.

Gold mineralisation occurs in a subvertical, en-echelon vein array within a north-westerly-trending shear zone approximately 200m wide and extending for more than 4km along strike (Figure 2). Drill-line spacing ranges from 100m to 400m. Results to date suggest that individual veins have apparent strike continuity of up to 700m and estimated true widths of up to approximately 7m.

Drilling to date has tested approximately 30% of the overall geological trend. Additional discrete geochemical anomalies have been identified along the trend and are scheduled for drill testing in the coming months. The Company considers the initial results highly encouraging, highlighting a new exploration opportunity with the potential to support a future standalone operation, subject to further exploration and technical and economic evaluation.

Table 1: Marahui Project Significant Results
(0.3 g/t Au lower cut off; minimum width 3m with 3m max internal waste)

Figure 2: Marahui Project Drillhole Location Plan

Conclusions
Initial RC drilling at Marahui has confirmed gold-bearing vein mineralisation within a northwesterly-trending shear corridor approximately 200 m wide and extending for more than 4km. Mineralisation occurs in a subvertical, en-echelon vein array, with results to date suggesting apparent strike continuity of up to 700 m for individual veins and estimated true widths of up to approximately 7m.

Thor has completed 171 RC drillholes testing the interpreted shear zone. The program is ongoing and assays remain pending, to be released as received. Significant intersections include 6m at 6.20g/tAu from 74m in MRRC26-115, 6m at 5.60g/tAu from 129 m in MRRC26-008 and 8m at 3.40g/t Au from 50m in MRRC26-143. These intervals are downhole lengths.

With approximately 30% of the overall geological trend tested by drilling, considerable scope remains for further exploration. Additional discrete geochemical anomalies have already been identified and are scheduled for drill testing in the coming months, providing a clear pipeline of follow-up targets. These encouraging results reinforce Marahui’s potential within Thor’s exploration portfolio in Côte d’Ivoire and provide a strong foundation for the next phase of work. The potential for a future standalone operation remains subject to further exploration and technical and economic evaluation.

Qualified Person
The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP), who is designated as a “qualified person” under National Instrument 43-101 and the AIM Rules and has reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling, analytical and test data underlying the information.

About Thor Explorations

Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration, development and production of mineral properties located in Nigeria, Senegal and Côte d'Ivoire. Thor Explorations holds:
-     a 100% interest in the Segilola Gold Project located in Osun State, Nigeria
-     a 100% economic interest in the Douta Gold Project located in south-eastern Senegal
-     a 100% interest in the Guitry Gold Project Côte d'Ivoire
-     additional exploration tenure in Nigeria, Senegal and Côte d'Ivoire, comprising wholly and majority-owned interests

Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol "THX".

THOR EXPLORATIONS LTD.
Segun Lawson
President & CEO

For further information please contact:

Thor Explorations Ltd
Email: info@thorexpl.com

Canaccord Genuity (Nominated Adviser & Broker)
James Asensio / Henry Fitzgerald-O’Connor / Harry Rees / Rory Blundell
Tel: +44 (0) 20 7523 8000

Hannam & Partners (Broker)
Andrew Chubb / Matt Hasson / Jay Ashfield
Tel: +44 (0) 20 7907 8500

BlytheRay (Financial PR)
Tim Blythe / Megan Ray / Said Izagaren
Tel: +44 207 138 3204

Yellow Jersey PR (Financial PR)
Charles Goodwin / Shivantha Thambirajah 
Tel:  +44 (0) 20 3004 9512

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.

Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes “forward looking statements” within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions that could cause the actual results of the Company to differ materially form the forward-looking statements. Such forward-looking statements, including but not limited to, the Company’s ability to fully finance the Project, to bring the Project into operation or to produce gold from the Project, and the use of the proceeds.  The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company’s expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.

Appendix 1

Marahui Drillhole Summary

Image Attachments
image1
image2
image3
image4