Projects located in world class target exploration regions

Thor is exploring on 2 projects, comprising 4 individual properties for a total of 577 km2 of highly prospective greenstone belts located in Senegal and Burkina Faso. Both projects are located in leading West African gold belts and are within close proximity of recent gold discoveries:

The Douta Project is located in the is located in the south east region of Senegal within the Kéniéba inlier, proximal to the Main Transcurrent Shear Zone. This is considered to control the 8.5Moz Au1 Sadiola Deposit in the North, and the 3.2Moz Au2 Massawa Deposit to the centre - within 5km of the Douta Project.

The Central Houndé Project consists of two continguous permits located within the Houndé belt, 260km south-west of the capital Ouagadougou, in western Burkina Faso. The Houndé belt is highly prospective and hosts approximately 10Moz of gold discoveries. Thor's Central Houndé Project is surrounded by established projects being developed by significant explorers including TSX listed companies Orezone, Avion and Ampella.

A qualified person3 has not been able to verify the information about nearby resources estimates, and these are not necessarily indicative of potential quantities or grades of mineralization on the Company's own properties.

  1. 8.5 Moz for the Sadiola Deposit resources includes Measured (21.906 Mt at 1.4 g/t = 958 Koz) and Indicated resources (150.109 Mt @ 1.6 g/t = 7,507 Koz). Excludes Inferred resources (45.040 Mt @ 1.6 g/t = 2,258 Koz). December 2011. Information as per IAMGOLD's December 31, 2011 Reserves and Resources Summary (100%) as published on IAMGOLD's website (as of November 8, 2012). Please refer to IAMGOLD's website and Sedar filing for assumptions used in their determination of the their resources and information about their qualified persons.

  2. 3.2 Moz for Randgold Resources' Massawa Deposit resources includes Measured (Nil) and Indicated resources (37.33 Mt @ 2.65g/t = 3.18 Moz). Excludes Inferred resources (3.36 Mt @ 3.92g/t = 0.42 Moz). December 2011. Information as per Randgold's annual mineral resource and reserve declaration published as part of Randgold's 2011 annual report and as per Randgold's news release dated March 30, 2012. Please refer to Randgold's news release dated March 30, 2012 for their assumptions used in the determination of their resources and information about their qualified persons.

  3. The Company's qualified person having reviewed the technical information presented in this website page is Mr Brian Montpellier, P.Eng., an independent consultant to the Company. Mr. Montpellier, has over 30 years of experience in the mining industry. He is a member of the Association of Professional Engineers of British Columbia and a Fellow of the South African Institute of Mining and Metals and is a Qualified Person for the purposes of NI 43-101.