Thor Explorations Ltd. Announces Filing of NI 43-101 Technical Report on the Segilola Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 13, 2016) -

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

Thor Explorations Ltd. ("Thor") or the "Company") (TSX VENTURE:THX) is pleased to announce that it has completed a technical report prepared in accordance with National Instrument 43-101 ("NI 43-101") on the Segilola Gold Project. The filing of this technical report supports the disclosure made by the Company in its news release of June 27, 2016 entitled "Proposed Acquisition of Segilola Gold Project and Private Placement Financing".

The technical report is entitled "Updated Resource Estimate for the Segilola Gold Deposit, Osun State, Nigeria for Thor Explorations Ltd." dated February 25, 2016 and was prepared by an independent "Qualified Person" (as that term is defined in NI 43-101) Alfred Gillman, Bsc (Hons); FAusIMM,CP and Stephen Mawson, Msc, SACNSP, GSSA.

The technical report will be available today on both SEDAR (www.sedar.com) and the Company's website (www.thorexpl.com).

About Thor

Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Senegal and Burkina Faso. Thor holds a 70% interest in the Douta Gold Project located in south-eastern 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.

Segun Lawson, President & CEO

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. Such forward-looking statements, including but not limited to the completion of the acquisition of the Segilola Gold Project and the use of the proceeds of the private placement. 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.