Successful Turning Of Mills And Commencement Of Commissioning At Segilola Gold Plant

VANCOUVER - Thor Explorations Ltd. has commenced the commissioning of its gold processing plant following the successful turning of the mills at Segilola Gold Project in Nigeria.

Remaining work is focused primarily on the gold room, elution and electrowinning circuit, power connection, instrumentation and control installations. The Process Plant is being commissioned in phases, with commissioning having already started at the power plant. Commissioning of the SAG & Ball Mills and the crushing section will follow. Thereafter, commissioning will continue with the remaining areas of the Process Plant. The Company expects to pour its first gold from the Project before the end of July 2021.

Mining is underway, with 700,000 tonnes of waste mined and 30,000 tonnes of ore stockpiled in preparation for Process Plant commissioning. The pit is fully prepared for mining operations, with pre-strip nearing completion. The mining fleet is now fully commissioned and production is expected to quickly ramp up to its design capacity. All the necessary permits are in place and blasting operations have started as the Company moves into the harder transitional and fresh ore zones.

Segun Lawson, President & CEO, said, "We are pleased to reach this significant milestone on the Segilola Gold Project. Once again, I would like to thank the entire team, which has done an excellent job amidst the difficult circumstances of the global pandemic to reach this key step in the development of the Segilola Gold Project as we gear up towards production. We continue to work towards, and look forward to, first gold pour before the end of the month."