Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

• See chapter 19 for defined terms.

30/9/2001

Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

| Class | • CDIs (ASX)
• Shares (AIM) |
| --- | --- |
| Number acquired – Direct | • Nil |
| Number acquired - Indirect | • 7,271,610 CDIs held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund.
• Nil |
| Number disposed | N/A |
| Value/Consideration
(a) Note: If consideration is non-cash, provide details and estimated valuation | The CDIs were received for Nil consideration.
The value of the CDIs at the ASX closing price of $0.003 on 19 November 2014 was $21,815. |
| No. of securities held after change - Direct | • 10,735,570 CDIs
• 2,500,000 AIM listed Shares |
| No. of securities held after change - Indirect | Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund.
• 67,116,697 CDIs (7,271,610 being held in escrow until 27 October 2015).
Held by MBB Trading Pty Ltd
• 29,578,294 CDIs. |
| Nature of change
(b) Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Consideration paid by Thor Mining, for the acquisition of Pilot Mountain, from Black Fire Minerals Limited (ASX: BFE), was 418,750,000 Thor Mining CDIs (refer ASX announcement 28 October 2014). Black Fire Minerals Limited subsequently made an in specie distribution to it's shareholders, of the 418,750,000 Thor Mining CDI's. Statements related to the in specie distribution were issued by our registrar on Friday 14 November 2014. As a shareholder in Black Fire Minerals Limited, Mr M Billing and Mrs B Billing (as trustees and beneficiaries of the Lapun Kamap Super Fund), received 7,271,610 CDI's. The CDIs are held in escrow until 27 October 2015. |

• See chapter 19 for defined terms.

30/9/2001

Appendix 3Y Page 2

Appendix 3Y
Change of Director's Interest Notice

Part 2 – Change of director’s interests in contracts

Part 3 – +Closed period

• See chapter 19 for defined terms.
  30/9/2001
  Appendix 3Y Page 3