Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins us for a review of Q4 and full-year 2025 operations, production, and financial metrics from its Segilola Gold mine, and the Company’s ongoing exploration and development programs across Nigeria, Senegal and Cote D’Ivoire.

Q4 and Full Year 2025 Segilola Highlights

• Q4 gold poured of 23,719 ounces (“oz”)
• FY 2025 gold poured totaled 91,910oz
• Gold produced from 242,182 tonnes milled at an average grade of 3.31 grammes per tonne (“g/t”) of gold (“Au”) and process plant recovery of 94.8%
• Gold sales in Q4 2025 of 25,830oz at an average realized price of US$4,189 resulting in record quarterly revenue of US$108 million
• Q4 record cash balance of US$137 million
• Q4 bullion inventory of 3,188oz (unaudited)

Q4 Dividend

• In addition to the standard Q4 Dividend of C$0.0125 per share, the Company will pay an additional bonus dividend payment of C$0.015 per share. The total dividend payable for Q4 will be C$0.0275 per share

FY 2026 Outlook and Catalysts

• FY 2026 production guidance range set at 75,000 to 85,000 oz of gold
• FY 2026 All-in Sustaining Cost (“AISC”) guidance range set at US$1,000 to US$1,200 per ounce
• Douta Preliminary Feasibility Study expected on 26 January 2026
• Extensive drilling programs across all the Company’s exploration portfolio, with 5 rigs turning at Segilola, 3 rigs turning at Douta, and 2 rigs turning in Ivory Coast

Ongoing Exploration Programs in all 3 jurisdictions:

Segilola – underground drilling program is ongoing, and there is the continuation of scout drilling programs on identified targets across Nigeria

Senegal – expanded Douta license, additional RC drilling targeting additional oxide resources

Cote D’Ivoire – Guitry and Boundiali licenses, continuation of geochemical work programs and initial drill program on identified targets. Marahui Project mapping and rock sampling progressed with early-stage drill targets in focus for 2026.

If you have any questions for Segun regarding Thor Explorations, then please email them into us at Fleck@kereport.com or  Shad@kereport.com

• In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview and may choose to buy or sell shares at any time.

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