NEWS
RELEASE
NOT FOR
DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES
|
01 October 2024
|
TSXV/AIM:
THX
|
Update on Press Speculation
Thor Explorations Ltd. (TSXV / AIM:
THX) ("Thor Explorations" or the "Company") issues the following
statement, following further to its news release dated 30 September
2024, in response to additional press commentary.
On Monday 30th September,
the representatives of Osun State served a notice to Segilola
Resources Operating Limited ("SROL") from a state magistrates court
to seal the Segilola Mine site over unpaid outstanding taxes
amounting to N99,347,105 (approximately US$62,500). SROL has now
paid the full outstanding amount despite not being given the
stipulated 30 days to review.
There was no disruption to
operations at Segilola which continued as normal and remain
unaffected.
The Company is in dialogue with the
Federal Ministry of Mines, the regulator of the sector to prevent
any such action from occurring again.
-
Ends-
Please contact:
Thor Explorations Ltd
Email: info@thorexpl.com
Canaccord Genuity (Nominated Adviser
& Broker)
Henry Fitzgerald-O'Connor / James
Asensio / Harry Rees
Tel: +44 (0)
20 7523 8000
Hannam & Partners
(Broker)
Andrew Chubb / Matt Hasson / Jay
Ashfield / Franck Nganou
Tel: +44 (0) 20 7907 8500
Fig House Communications (Investor
Relations)
Tel: +1 416 822 6483
Email: investor.relations@thorexpl.com
Yellow Jersey PR (Financial
PR)
Charles Goodwin / Shivantha
Thambirajah / Zara McKinlay
Tel: +44 (0) 20 3004
9512
thorexplorations@yellowjerseypr.com
BlytheRay (Financial
PR)
Tim Blythe / Megan Ray / Said
Izagaren
Tel: +44 207 138 3204
About Thor Explorations
Thor Explorations Ltd. is a West
Africa focused gold exploration, development and production with
projects located in Nigeria and Senegal. Thor holds a 100% interest
in its flagship Segilola Gold Project, located in Osun State,
Nigeria. Mining and production commenced at Segilola in 2021, with
first-year annual production of 95,000 ounces. Thor holds a 70%
interest in the Douta Gold Project located in south-eastern
Senegal, in partnership with local company International Mining
Company ("IMC"). Thor trades on both the AIM and TSX Venture
Exchanges under the symbol "THX".