Thor Explorations Announces Receipt of Inter-Ministerial Report in Segilola, Nigeria Dispute
Vancouver, British Columbia, March 26, 2025 – Thor Explorations Ltd. (TSXV: THX) (AIM: THX) (“Thor” or the “Company”), a Canadian mineral exploration company, is pleased to announce that its Nigerian operating subsidiary, Segilola Resources Operating Limited (“SROL”), has received a copy of the report of the Inter-Ministerial Fact-Finding Committee (the “Report”) regarding the dispute between SROL and the Osun State Government.
Background of the Dispute
The dispute between SROL and the Osun State Government arose from a disagreement over the ownership of certain mineral titles in the Segilola Gold Project. SROL holds mining licenses for the project, but the Osun State Government claimed that the licenses were issued without its approval. The dispute led to the suspension of mining activities at the project in October 2024.
Content of the Report
The Inter-Ministerial Fact-Finding Committee was established to investigate the dispute and provide recommendations for a resolution. The Report, which was submitted to the parties on March 25, 2025, found that SROL had followed due process in obtaining the mining licenses and that the Osun State Government had not given prior approval as required by law. The Report also recommended that the Osun State Government should issue a certificate of no objection to SROL’s mining activities as soon as possible, and that the parties should engage in further discussions to address any remaining issues.
Impact on Thor Explorations
The receipt of the Report is a positive development for Thor Explorations as it validates SROL’s position in the dispute. The Company believes that the recommendations in the Report will pave the way for the resumption of mining activities at the Segilola Gold Project. Thor also intends to engage in further discussions with the Osun State Government to resolve any outstanding issues and ensure a smooth restart of operations.
Impact on the World
The resolution of the dispute between SROL and the Osun State Government is significant for the global mining industry, as it underscores the importance of following due process and respecting property rights. The successful outcome of the dispute also highlights the potential for investment and economic growth in Nigeria’s mining sector, which is rich in gold, iron ore, and other minerals.
Conclusion
Thor Explorations is encouraged by the findings of the Inter-Ministerial Fact-Finding Committee and looks forward to the resumption of mining activities at the Segilola Gold Project. The Company remains committed to working collaboratively with the Osun State Government and other stakeholders to ensure a mutually beneficial outcome for all parties involved.
- Thor Explorations announces receipt of Inter-Ministerial Report in Segilola, Nigeria dispute
- Report finds SROL followed due process in obtaining mining licenses
- Osun State Government did not give prior approval as required by law
- Recommendations pave way for resumption of mining activities at Segilola Gold Project
- Significant for global mining industry and Nigeria’s mining sector
