Thor Announces New Director Appointed to Board and Grant of Board and Management Options
Suite 250, 1075 West Georgia Street
Vancouver, BC, Canada V6E 3C9
Tel: 1.778.373.0102 Fax: 1.604.434.1487
NEWS RELEASE
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES
FOR IMMEDIATE RELEASE TSXV: THX
January 16, 2017 Shares Outstanding: 285,193,003
Vancouver, British Columbia
THOR ANNOUNCES NEW DIRECTOR APPOINTED TO BOARD and GRANT OF BOARD
AND MANAGEMENT OPTIONS
Thor Explorations Ltd’s (TSX VENTURE:THX) (“Thor” or the “Company”) is pleased to announce
that Dr. Julian Barnes has been appointed to its Board of Directors as a Non Executive Director subject to
TSXV approval.
Dr Barnes has 35 years of experience in over 52 countries in a wide variety of commodities and has over
26 years experience in undertaking ba nk due diligence studies for the majority of the major resource
lending institutions. Dr Barnes co-founded Resource Service Group (subsequently RSG Global) in 1986.
In 2004, he joined Dundee Precious Metals Inc. and was responsible for their worldwide exp loration
activities, project acquisition and investment due diligence. Following this, Dr Barnes was responsible
for all technical aspects including exploration, project management, development, and management of
Preliminary Economic Assessment (PEA) studies and due diligence for various companies as a specialist
consultant. Dr Barnes has extensive experience in due diligence studies, company and project reviews for
major global resource lending institutions and mining companies located throughout the world.
The Company’s board of directors now consists of Mr. Segun Lawson , Mr. Adrian Coates , Mr.
Folorunso Adeoye, Mr. Kayode Aderinokun and Dr Julian Barnes.
The Company is also pleased to announce the appointment of Mr. James Philip as Vice President of
Corporate Development. Mr Philip is a highly experienced mining finance executive with 15 years’
experience in a broad range of international advisory and financing transactions across Europe, the
Middle East and Africa. Most recently Mr Philip was an Exec utive Director in Standard Chartered
Bank’s mining & metals division where he completed over 30 major transactions including mergers &
acquisitions, financings across the capital structure, hedging strategies and restructurings with a
combined value of ove r USD20bn. Mr Philip holds a Master’s degree in Earth Resources &
Environmental Engineering from the Royal School of Mines, Imperial College London.
The Company also wishes to announce the grant of 9,750,000 stock options pursuant to its previously
approved stock option plan to directors and officers and group consultant s of the Company. The options
were granted at an exercise price of $0.12 per share for a period of three years and amount to 3.4% of the
issued share capital in total.
The options remain subject to the approval of the TSX Venture Exchange.
Segun Lawson, President & CEO of Thor commented:
We are delighted that Julian and James have joined the Board and Senior Management of Thor. They will
both be invaluable in assisting the Company to driv e its exploration and development programs towards
production. On behalf of the Board and management I would like to welcome them both and look
forward to working with them.
About Thor
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition,
exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor
holds a 100% interest in the Segilola Gold Project in Osun State Nigeria approximately 120km northeast
of Lagos. The Segilola G old Project is considered to be the most advanced gold project in Nigeria. Thor
holds a 70% interest in the Douta Gold Project located in southeastern Senegal. The Douta Gold Project
lies within the Kéniéba Inlier which hosts significant gold resources and has attracted major international
mining companies. Thor also holds a 100% interest in the Bongui and Legue gold permits located in
Houndé greenstone belt, south west Burkina Faso . Thor trades on the TSX Venture Exchange under the
symbol "THX".
THOR EXPLORATIONS LTD.
Per: “Segun Lawson”
President & CEO
For further information please contact:
Tel: 778-373-0102
Fax: 604-434-1487
Email: [email protected]
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 S tates or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registratio n
requirements.
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herei n, the information presented constitutes “forward looking statements”. Such
forward-looking statements, including but not limited to the use of the proceeds of the private placement. Although the Company has
attempted to identify important factors that co uld cause actual results to differ materially, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwar d-
looking statements.